What Is Hashflow (HFT)?
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What Is Hashflow (HFT)?

What Is Hashflow (HFT)?

Intermediate
প্রকাশিত হয়েছে Jan 17, 2023আপডেট হয়েছে Jun 15, 2023
4m



TL;DR

Trading cryptocurrency on decentralized exchanges (DEXs) can be complex, expensive, and inefficient. With so many chains and tokens, it can also be overwhelming. Complicating things even more, most DEXs cannot guarantee any prices, as they often change before a trade can be executed.

Hashflow, however, is a DEX where you can trade any asset on any chain in seconds simply by connecting your wallet. All quotes are executed at their displayed price,  with no commission. This means what you see is what you get.

Trading across chains works exactly the same way – one shot cross-chain trading at a guaranteed price. Just pick your asset and chain, and start trading — all without the risk of bridges. 

Since it went live in August 2021, Hashflow has seen over $11 billion in total trade volume, with over 170,000 unique users.

Introduction

Most DEXs rely on automated market makers (AMMs) to enable the buying and selling of assets, and although they’re important, they’re far from perfect. AMMs are capital-inefficient, routinely prone to risks like sandwich attacks and impermanent loss, and cannot effectively price non-spot assets.

Instead, Hashflow uses a request-for-quote (RFQ) model that allows users to get quotes directly from market makers and trade with zero slippage and full maximal extractable value (MEV) protection. Instead of pricing assets on-chain, Hashflow’s RFQ model handles the settlement and swapping of assets on-chain, but enables market makers to price assets off-chain.

What Is Hashflow?

Hashflow is a DEX designed for interoperability, zero slippage, and MEV-protected trades. All trades are commission-free and all price quotes are executed at their displayed prices. Hashflow also offers fully native cross-chain swap functionality without the use of bridges or synthetic assets, enabling seamless trading across one or more chains with guaranteed price execution.

Since its inception in August 2021, Hashflow has seen:

  • 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 also raised $28.2 million from three rounds of funding; its backers include Dragonfly Capital, Electric Capital, Galaxy Digital, Jump Crypto, Wintermute, and GSR. 

How Does Hashflow Work?

Hashflow allows users to seamlessly swap assets across chains within minutes without the need for external 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 the HFT Token?

HFT is the native token for the Hashflow protocol as well as the Hashverse, Hashflow’s gamified governance platform. Users can stake HFT to unlock features within the Hashflow ecosystem, such as:

  • 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 Makes Hashflow Unique? 

Bridgeless cross-chain swaps

Hashflow allows users to seamlessly swap assets across chains within minutes without the need for external bridges. All Hashflow trades are fully protected from both slippage and MEV exploits whether the trade happens locally on one chain or across chains.

Zero slippage

All Hashflow quotes are executed at the displayed price.

MEV-protected trades

Cryptographic signatures make front-running impossible. Traders keep what they earn.

The Hashverse

The Hashverse is the first-ever storyverse-driven, gamified DAO and governance platform. With an immersive storyverse developed by leading Hollywood creative agency, Superconductor, the Hashverse represents a collective of token holders that will decide the future of the Hashflow protocol.

What’s Next for Hashflow? 

Hashflow will be rolling out The Hashverse DAO launch, non-EVM chain deployments (Solana, Aptos, Sui), smart order routing, limit orders, and more. 

Closing thoughts 

Hashflow’s RFQ model for price discovery and bridgeless cross-chain technology are unique differentiators in the DEX landscape, and allow for a seamless trading experience. With an expanding product, growing ecosystem, and strong backing, Hashflow is well-positioned and committed to continue offering the best trading experience in DeFi.









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