Background
Trading cryptocurrency on decentralized exchanges (DEXs) can be a complicated, costly, and inefficient process. With the large number of chains and tokens available, it can also be very overwhelming. Moreover, most DEXs cannot guarantee any prices due to the fact that prices tend to fluctuate before trades are completed.
Hashflow is a DEX that allows you to buy and sell any asset on any chain with ease in a very short period of time, only requiring your wallet to be connected. The prices you see are the ones that will be executed, with no hidden fees. Thus, what you observe is exactly what you will receive.
Cross-chain trading is easy to do – one transaction with a guaranteed price. Simply select the asset and blockchain of your choice, and begin trading – with no danger of using bridges.
Since its inception in August 2021, Hashflow has experienced more than $11 billion worth of transactions and has had more than 170,000 distinct users.
DEX Mechanism
DEXs employ automated market makers (AMMs) to facilitate the transaction of assets, but these AMMs are far from ideal. They are capital-inefficient, vulnerable to sandwich attacks and impermanent loss, and incapable of accurately pricing non-spot assets.
Instead of having assets priced on the blockchain, Hashflow’s request-for-quote (RFQ) system handles the settlement and exchanging of these assets on the chain. This allows users to get quotes directly from market makers with zero slippage and complete MEV protection. The trading is done off-chain, however, as pricing is handled by the market makers.
What Is Hashflow?
Hashflow is an interoperable DEX that offers commission-free trades, zero slippage, and MEV-protected transactions. It ensures that any price quotes will be executed at the price they are displayed at. Furthermore, Hashflow provides native cross-chain swapping without the need for bridges or synthetic assets, meaning that trading between one or multiple chains happens efficiently with guaranteed prices being met.
Since its launch in August 2021, Hashflow has experienced:
- Over $11 billion in total trade volume
- Over 170,000 unique users trading on the platform
- An average aggregate daily volume of $25 million to $30 million
- An average of 1,800 daily active users (DAU)
- Over $1 billion in total trade volume on Polygon and Avalanche within six months
Hashflow has gained the support of three rounds of funding and raised a total of $28.2 million from Dragonfly Capital, Electric Capital, Galaxy Digital, Jump Crypto, Wintermute, and GSR.
How Does Hashflow Work?
Hashflow enables users to effortlessly exchange digital assets between different blockchains in a matter of minutes, eliminating the need for third-party token bridges.
- All Hashflow trades are fully protected from both slippage and MEV exploits, whether the trade happens locally on one chain or across multiple chains.
- Hashflow uses a hybrid on-chain / off-chain RFQ engine to fetch off-chain quotes from market makers who manage liquidity in on-chain pools. Smart contracts require market makers to cryptographically sign quotes that remain unchanged for the duration of any trade. This ensures that the prices offered to users are guaranteed and cannot be front-run or arbitraged by MEV bots.
- Hashflow also protects traders against slippage due to cross-chain MEV, which may occur, if there is significant price movement between the time it takes to validate the transaction on the source chain and relay the payload onto the destination chain.
What Is HFT Token?
The HFT token is exclusive to the Hashflow protocol and its interactive governance program, the Hashverse. By staking HFT, users gain access to various components of the Hashflow network, including:
- Governance: Hashflow governance follows a vote-escrow (VE) token model where voting rights are determined based on the amount of HFT staked and the duration for which HFT is locked. Staking tokens grants users the right to vote on and manage the future of the protocol.
- Rewards and in-DAO health: The Hashverse is the first-ever storyverse-driven, gamified DAO and governance platform. Staked tokens will be used to determine users’ health metrics within the Hashverse. Users may adjust the amount and duration of their staked tokens at any time in order to maintain their health within the Hashverse. The protocol will reward the most active members of the community, and their Hashverse presence will play a major role in redeeming these rewards.
What Distinguishes Hashflow?
- Bridgeless cross-chain swaps
Hashflow enables users to easily and quickly exchange assets between blockchains without the need of third-party bridges. Transactions conducted with Hashflow are safeguarded from both price fluctuations and MEV attacks whether they take place within a single chain or across multiple chains.
- Zero slippage
All price of Hashflow(HFT) token orders are executed at the listed rate.
- MEV-protected trades
Cryptographic signatures make front-running impossible. Traders keep what they earn.
- The Hashverse
Developed by the Hollywood creative agency Superconductor, the Hashverse is a groundbreaking DAO and governance platform that is driven by a storyverse. Its token holders will shape the future of the Hashflow protocol through their collective decisions.
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