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Hashflow And The HFT Token
By Laxmikant Khanvilkar
Hashflow has emerged as a reliable tool to connect with varied blockchains, in the current hacking prone environment. In fact, it has become the latest buzz word among crypto community, since it offers a bridgeless token swap feature for permissionless cross-chain trading. It is an interoperable DEX powered by the native HFT token. Interoperability helps Web3 platforms to scale without friction.
One of the key aspect of the Hashflow is the automated market maker (AMM) model. This has become the most popular mechanisms for cross-chain token swaps. However, several interoperable Web3 protocols rely on centralized services and custodians to facilitate cross-chain trades.
Hashflow has proven its user friendliness by addressing key issues, commonly encountered by users resulting in impermanent loss and frontrunning on prominent AMM-based DEXs. It uses an off-chain request-for-quote (RFQ) model to maximize capital efficiency.
Hashflow is a highly-interoperable decentralized exchange (DEX). It connects many of the leading blockchains and layer-2 networks and provides zero-slippage, MEV-protected trading with a low barrier to entry. Anyone can use the platform to trade assets on any blockchain with minimal friction by connecting a non-custodial crypto wallet like MetaMask. Many prominent DEXs use the automated market maker (AMM) model to facilitate peer-to-peer trading. However, Hashflow uses the novel request-for-quote (RFQ) model to optimize capital efficiency and protect users against impermanent loss and slippage.
Also, Hashflow’s RFQ model allows market makers to source liquidity using off-chain pricing functions secured by cryptographic signatures. In turn, this model allows market makers to implement advanced pricing mechanisms that reduce the risks associated with AMMs, like slippage, impermanent loss, and volatility.
Furthermore, Hashflow’s off-chain pricing mechanism provides a higher level of accuracy for trade quotes and prevents frontrunning, which is problematic for AMM users. Moreover, Hashflow provides a trustless environment for cross-chain token swaps that enables users to swap assets between blockchains without using a centralized token bridge or custodial service.
Hashflow was founded in August 2021. It has quickly become a thriving DEX, with more than 170,000 unique wallet addresses interacting with it. Also, Hashflow has an average daily transaction volume of $25-30 million, contributing to the $1 billion in trading volume on Polygon and Avalanche in the first six months of operations. The platform has since formed partnerships with leading DEXs and DEX aggregators throughout the decentralized finance (DeFi) ecosystem.
The HFT token is the native governance token of the Hashflow ecosystem. It allows holders to participate in protocol governance by voting on proposals to make changes to the ecosystem via the Hashverse, Hashflow’s gamified DAO. Users who stake HFT tokens receive voting rights pertaining to protocol fees, ecosystem development, and marketing. Larger stakes for longer periods give users more voting power. Plus, staking HFT removes it from circulation, giving the perception of scarcity.
HFT is an Ethereum ERC-20 token. Currently, the HFT token trades at $0.69 with a market cap of $122.5 million. It has a circulating supply of 175.2 million out of a total of 1 billion.
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