Huma Finance (HUMA) is a DeFi protocol focused on 'real asset on-chain (RWA) + payment finance (PayFi)'. The value of its token needs to be comprehensively analyzed from the three dimensions of the applicability of use cases, token economic model, and market supply-demand structure. Below is the breakdown of its core value:
1. Core Value Support: 'On-chain payment infrastructure' addressing real financial pain points
1. Scenario Necessity: Reconstructing corporate liquidity efficiency
Huma uses blockchain to collateralize corporate accounts receivable (such as invoices) in seconds, providing USDT/USDC loans, compressing traditional 2-5 day financing invoices to seconds. As of Q1 2025, the protocol has processed over $4 billion in on-chain transaction volume, covering high-frequency scenarios such as cross-border trade and supply chain finance, with a default rate of 0%, proving the feasibility of its business model.
2. Revenue Model: Cash flow-driven value capture
- Fee income: Charging 0.15%-0.3% per transaction, with monthly revenue exceeding $4 million in 2024;
- Interest income: Earning a 3%-8% interest spread in cross-border payments, annualized at about $14 million;
- Deflationary mechanism: 50% of transaction fees are used to repurchase and destroy HUMA. If transaction volume exceeds $10 billion in 2025, the annual destruction volume could reach 14.5% of the circulating supply, directly supporting the token price.
3. Compliance and ecological synergy
Acquired compliant capital from Circle Ventures (the issuer of USDC), Fenbushi Capital, and others
