What Is Hatom? MultiversX Lending, sEGLD and HTM Explained

Hatom is a lending and liquid staking protocol on MultiversX, where users supply and borrow assets, stake EGLD for the liquid sEGLD token, and govern the protocol with the HTM token. It launched in July 2023, is the largest DeFi protocol on MultiversX by DefiLlama's count, and JewelSwap runs Hatom farms and issues JWLHTM, a token backed by HTM.

Hatom at a glance

Attribute	Detail
Category	Money market (lending and borrowing), liquid staking, stablecoin
Chain	MultiversX
Native token	HTM
Launched	July 2023
Key products	Lending markets, sEGLD liquid staking, USH stablecoin, HTM Booster, TAO liquid staking and bridge
TVL	About $6.9 million in lending plus $2.9 million in sEGLD liquid staking (DefiLlama, late October 2026)
Audits / security record	Runtime Verification (lending 2022, liquid staking 2023) and Halborn, among others; no Hatom exploit found in our research
Website	hatom.com
Integrated with JewelSwap	Yes: Hatom farms, JWLHTM, and an sEGLD leg in JWLEGLD liquid staking

What is Hatom?

Hatom is developed by Hatom Labs and went live on MultiversX in July 2023 with two products at once: a lending market and EGLD liquid staking. Deposits arrived quickly. DefiLlama shows its lending TVL peaking around $131 million and its liquid staking TVL around $108 million in December 2023.

Since then Hatom has added a set of products around those two cores: USH (Hatom USD), an over-collateralised stablecoin; a Booster that rewards HTM stakers; an Accumulator module; and a bridge and liquid staking product for TAO, the Bittensor token. Hatom also runs its own price-oracle infrastructure to value collateral.

In late October 2026, Hatom lending held about $6.9 million and sEGLD liquid staking about $2.9 million on DefiLlama, enough to make Hatom the biggest DeFi protocol on the network. Our roundup of the best DeFi protocols on MultiversX compares it with the rest of the ecosystem.

How Hatom works

1. Suppliers deposit assets. Lenders deposit tokens into a market and receive interest-bearing hTokens that track their share of the pool plus interest.
2. Borrowers post collateral. Users can borrow against supplied collateral up to a limit set per asset. Interest rates move with how much of each market is borrowed.
3. Liquidations protect lenders. If a borrower's collateral value falls too far, the position can be liquidated. Our guide to the health factor in DeFi lending explains the mechanics.
4. EGLD becomes sEGLD. Staking EGLD through Hatom gives sEGLD, which grows in value as staking rewards accrue and can be used elsewhere in DeFi, for example as loan collateral. Hatom spreads the staked EGLD across staking providers with a delegation algorithm.
5. HTM boosts and governs. HTM holders vote on protocol changes, and staking HTM in the Booster increases a user's lending rewards.

Key features

• Integrated lending and staking: sEGLD can be supplied as collateral in the same protocol that minted it.
• sEGLD: the largest EGLD liquid staking product on DefiLlama, with about 680,000 sEGLD outstanding in October 2026 per the MultiversX explorer.
• USH stablecoin: an over-collateralised dollar token minted through Hatom's lending markets.
• HTM Booster: extra lending rewards for users who stake HTM.
• Multi-asset reach: the TAO bridge and TAO liquid staking bring an outside asset into MultiversX DeFi.

HTM token

HTM has a total supply of about 100 million tokens, according to the MultiversX explorer, which showed a market capitalisation of around $3.4 million in October 2026. It is used for governance, revenue distribution and incentives, and for boosting lending rewards through the Booster. HTM was released under a multi-year vesting schedule, so unlocks have added to circulating supply over time.

Risks and track record

• Smart-contract risk: Runtime Verification audited the lending protocol in 2022 and published a liquid staking report in July 2023, and Halborn also assessed Hatom's contracts. We found no exploit of Hatom itself as of October 2026.
• Liquidation and oracle risk: borrowers can be liquidated in fast markets, and any lending protocol depends on accurate prices; see our explainer on price oracles.
• Liquid staking risk: sEGLD's market price can drift from its EGLD backing, and redeeming through unbonding takes time.
• Stablecoin risk: the MultiversX explorer showed USH around $0.97 in October 2026, a reminder that its peg is not guaranteed.
• Network risk: MultiversX halted block production for about five days in September 2026 after an attempted VM-level exploit, during which no one could repay, withdraw or add collateral.

Is Hatom integrated with JewelSwap?

Yes. JewelSwap runs farms on Hatom, issues JWLHTM, and its EGLD liquid staking interacts with Hatom's sEGLD.

JewelSwap's Hatom farms supply assets to Hatom's lending markets and auto-compound the lending rewards, with optimized and boosted options. The boost comes from HTM that JewelSwap holds through JWLHTM, a token minted from HTM. According to JewelSwap's docs, JWLHTM is redeemable 1:1 for HTM after a 90-epoch unbonding period, and it can also be staked on JewelSwap or swapped at market rates. Our JewelSwap tokens guide explains the difference between redeemable and unredeemable derivatives.

On the staking side, JewelSwap's JWLEGLD contract includes an sEGLD leg, so part of its position is held through Hatom's liquid staking token. JWLEGLD explained covers the liquid staking token, and how to stake EGLD compares the options. JewelSwap also has its own money markets, but MultiversX supply and borrowing there are currently paused.

Hatom vs other MultiversX apps

Hatom is the main money market on MultiversX, so its closest comparisons are lending and staking products rather than DEXs. xExchange, AshSwap and OneDex are exchanges where sEGLD, HTM and USH trade; AshSwap hosts pools for both sEGLD and USH. For a broader look at lending markets, see our Aave alternatives guide.

Related MultiversX apps

• MultiversX: the sharded Layer 1 behind the whole directory.
• xExchange: the original MultiversX DEX, with MEX and xMEX.
• AshSwap: stableswap DEX with veASH governance and JewelSwap farms.
• OneDex: permissionless DEX with DCA and the ONE token.

Learn more on the JewelSwap blog

• Best DeFi protocols on MultiversX in 2026: Hatom next to xExchange, AshSwap and OneDex.
• JewelSwap tokens explained: redeemable and unredeemable derivative tokens.
• How to stake EGLD: native staking, sEGLD and JWLEGLD compared.
• JWLEGLD explained: JewelSwap's EGLD liquid staking token.
• Health factor in DeFi lending: how liquidation thresholds work.

Frequently asked questions

Is Hatom safe?

Hatom has been audited by firms including Runtime Verification and Halborn, and we found no exploit of Hatom itself as of October 2026. Users still face liquidation, oracle, liquid staking and MultiversX network risk.

What is sEGLD?

sEGLD is Hatom's liquid staking token. You get it by staking EGLD through Hatom; it grows in value as staking rewards accrue and can be used in DeFi, for example as collateral for a loan.

Is Hatom integrated with JewelSwap?

Yes. JewelSwap runs auto-compounded Hatom farms, issues JWLHTM, a token backed 1:1 by HTM, and its JWLEGLD liquid staking contract includes an sEGLD leg.

JewelSwap DeFi app directory · educational, not financial advice. Data as of October 2026. Browse all MultiversX apps.