Hashbon Moves to DeFi to Launch CDEX Platform and Connect Ethereum and Binance Smart Chains
September 02 2021 - 2:02AM
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As decentralized finance (DeFi) garners more traction in the
blockchain industry, more projects also get launched into the
market. By the end of 2020, the DeFi market size stood at
approximately $16 billion. However, within the Q3 2021, the market
size has grown to an estimated $154 billion in total value locked.
The exponential market growth is the major reason we have more
projects entering the DeFi market. These new projects are not just
launching into the market; they are offering solutions to some of
the issues in the industry. This is the case of Hashbon FiRe
(Finance Reinvented ecosystem) as it enters the DeFi market with
its Hashbon Rocket, a decentralized cross-chain token exchange. The
Hashbon Rocket CDEX Platform Hashbon Finance Reinvented prepares to
launch its Hashbon Rocket on September 9, 2021. The Hashbon Rocket
CDEX platform is to become the first cross-chain decentralized
exchange. This pioneer CDEX platform seeks to solve the problem of
exchanging any ERC-20 token for any BEP-20 token in a decentralized
finance manner. Unlike the traditional decentralized exchanges that
support only intra-chain swaps, Hashbon Rocket CDEX will begin with
exchanges between Ethereum and Binance Smart Chain blockchain
protocols. The platform will later expand to accommodate other
Ethereum Virtual Machine (EVM) compatible networks. Hashbon Rocket
CDEX-platform will use the proof-of-stake (PoS) consensus
mechanisms. Here, the arbiters (judges) make decisions, and the
power of their share is dependent on their share of HASH tokens.
The higher the number of HASH tokens that arbiters have, the higher
the reward for a correct response and, conversely, the higher
penalty for an incorrect vote. If you want to study the full
details of the Hashbon Rocket algorithm, kindly see the project’s
whitepaper. According to the CEO of Hashbon Rocket, Grigory Bibaev,
“cross-chain exchange between EVM-compatible blockchains is just
the first step. In the future, we see Hashbon Rocket as a
multifunctional DeFi platform that provides a variety of services
from DeFi bonds for corporations to lending and staking.” Token for
Governing Hashbon Rocket (HASH) HASH token is a BEP-20 and ERC-20
compliant token and can be tracked on EtherScan and BscScan. It
will serve as the utility and governance token for the Hashbon
Rocket cross-chain decentralized exchange. It is the fuel that
empowers the different system participants. To make exchanges on
the Hashbon Rocket CDEX platform, liquidity providers must pay
arbiters with HASH tokens. In turn, these arbiters will use the
tokens as voting power for verifying and approving transactions.
The tokens can also give arbiters the power to submit proposals to
Hashbon. Also, the people wishing to issue DeFi bonds or launch a
crowdsale make use of the HASH token. Currently, HASH is available
on the Pre-Sale before Rocket’s launch for those who are ready to
take advantage of its price and entering this DeFi ecosystem at the
earliest stage. Before, HASH was listed on Uniswap, PancakeSwap,
BurgerSwap, and also placed on CoinMarketCap and CoinGecko.
Overview of the Hashbon Ecosystem Hashbon FiRe is a crypto payment
ecosystem that was launched in 2016. The vision of the platform has
been to bring crypto payments to crypto enthusiasts and day-to-day
businesses. As the team seeks a new era of blockchain and
decentralized finance development, “Finance Reinvented” (FiRe)
became their mission. In their quest to revolutionize the crypto
payment landscape, Hashbon has created a diversified ecosystem that
includes the following: Hashbon Rocket CDEX-platform: Designed for
swapping cross-chain tokens. Hashbon Quant Wallet: Developed for
the smooth transfer and receiving cryptos safely. Hashbon React
Payment Gateway: It allows merchants to accept payments in 30+
cryptocurrencies without having to pay any commission.
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