Hashflow and EnsoFinance’s tokens are hot. Why’s that?
Hashflow is a promising decentralized exchange. The team has designed it for interoperability, zero slippage, and MEV-protected trades. Most DEXs rely on automated market makers (also called AMMs) to enable the buying and selling of assets. Even though they are important, they’re far from perfect. AMMs are prone to risks, such as sandwich attacks and impermanent loss. They also cannot price non-spot assets.
However, Hashflow uses a request-for-quote (RFQ) model, thus, allowing professional market makers to manage liquidity pools. This company truly solves various issues concerning AMMs. Besides, traders and liquidity providers (LPs) can easily gain access to enhanced efficiency, and security, as well as products previously impossible in Defi, thanks to this platform.
Instead of a constant-product pricing function, Hashflow enables market makers to source liquidity from anywhere. It will price assets using off-chain pricing functions, backed by cryptographic signatures.
By moving pricing off-chain, market makers will be able to use more sophisticated pricing strategies. The latter usually factors in off-chain data such as historic asset prices, volatility, and other real-world information that allows users to effectively price assets.
Furthermore, the company allows LPs to contribute assets to a liquidity pool (just like in AMMs). At the same time, it leverages professional market makers instead of curves to price various assets. Hashflow essentially allows market makers to use their off-chain pricing strategies. As a result, LPs benefit from highly-competitive yields. They will be able to simply deposit liquidity into Public Pools and earn yields by piggy-backing on smarter pricing strategies.
What other benefits does this platform offer?
The company continually monitors Public Pools, rebalancing them to prevent impermanent loss. In addition, LPs can provide liquidity in just one asset. And traders will also benefit from moving pricing functions off-chain. They can get better prices. Besides, off-chain pricing usually leads to tighter quotes, which gives users a chance to gain more from their investments. And don’t forget about zero slippage. The team noted that the platform executes all Hashflow quotes at the displayed price.
Moreover, traders will be able to seamlessly swap assets across chains within minutes. They won’t need external bridges. All Hashflow trades will be fully protected from both slippage and MEV exploits whether the trade happens across chains or locally on one chain. It doesn’t matter where customers initiate a trade, they will receive their assets at any destination, without losing any value.
The team also aims to launch its hot utility token HFT in July 2022. The total amount for these ERC20 tokens is 1,000,000,000. The token holders will get some benefits on the platform.
How does the platform work?
Hashflow plans to use Defi-native RFQs to get quotes from market makers responsible for managing liquidity in the pools. Market makers cryptographically sign quotes that remain unchanged for the duration of the trade. That ensures that the price is guaranteed. Thus, scammers won’t be able to get the better of users. In addition, it protects traders against slippage.
Here’s one example. Let’s say, the user requests a quote to sell 10 ETH on Ethereum (source chain), and instead buy 20 AVAX on the Avalanche (destination chain). The market maker will provide a signed quote to the user. He/she will submit the transaction on Ethereum, using the signed quote as the payload.
After that, the liquidity pool smart contract on the source chain will perform security checks, and transfer funds from the trader’s wallet into the pool. It will also send the payload, and call the gateway smart contract on the source chain. After the transaction on the source proves successful, the gateway smart contract will trigger an event. And the validators will use the event to validate the transaction. In addition, they will submit the proof and the payload to the gateway endpoint on the destination chain.
That’s not the final step, though. The relayers must submit the payload to the destination chain. They will be able to transfer AVAX to the trader’s wallet on the destination chain after that. However, the company noted that these steps don’t rely on external bridges or require customers to escrow their assets on the source chain. The latter would be necessary to mint a bridged asset on the destination chain. Instead, traders can swap any asset natively by leveraging RFQs and signature-based pricing.
What about EnsoFinance’s platform and Nyan?
EnsoFinance is an innovative project that enables users to create social meta-strategies. They can use various features, such as batch asset purchasing, liquidity mining, tolerance band rebalancing, yield farming, restructuring, collateralization, flash swaps, and arbitrage.
EnsoFinance’s native utility token is very trending. However, it’s not available yet. The company plans to launch the ICO sale in July, but it hasn’t given exact dates thus far. The same goes for the NYN token. Nyan Heroes only announced that they would release it in July 2022. This SOLANA token is hot, though. Its total supply is 1,000,000,000.
Nyan Heroes is an exciting NFT game. Built on the Solana blockchain, it is part of the play-to-earn metaverse. The Nyan team believes that blockchain gaming will become the future gold standard for the entire gaming ecosystem. And it wants to be in the thick of it when that happens.
The company stated that its main goal is to deliver a high-quality gaming experience that will also support the player-centric ecosystem via a robust tokenomic structure. Earning incentives should drive a user’s desire to play a certain game. However, the team firmly believes that it should not be the only incentive.
In Nyan Heroes, gamers will be able to collect Nyans (Cats), as well as their Guardian Robots as NFTs. After that, players will use their heroes to battle other participants in a shooter-style action game. By simply playing the game, users will automatically participate in the platform’s player-based economy. They will collect tokens as rewards for completing tasks, winning battles, and progressing in adventure mode.
Moreover, users will have the opportunity to mint more Nyans and clone their Guardian Robots. They will collect rare and unique weapons and skins, and trade all of these as NFTs in the platform’s marketplace.