The cryptocurrency market has been growing rapidly despite the current declining macroeconomic environment. One niche in particular that has continued to capture the interest of investors around the world is the decentralized finance (DeFi) market. Between Q1 2020 and Q4 2021, the total value locked (TVL) in this space increased from approximately $600 million to a whopping $160 billion.
Much of this growth has been attributed to the increasing popularity of decentralized exchanges (DEXs), which allow users to facilitate money transactions directly without the need for a third party intermediary or custodian or intervention. More specifically, transactions that take place through these platforms are fully automated and facilitated through the use of smart contracts (i.e. pieces of code that execute themselves). In fact, by using these contracts, many of these ecosystems are able to operate completely permission-free, meaning that users do not need external consent to use the protocol.
Hashflow is one such DEX – capable of facilitating the exchange of crypto assets across a variety of blockchain networks. While similar platforms depend on the use of Automated Market Makers (AMMs) (i.e. for buying/selling assets), Hashflow uses a unique operating model called Request-for-Quote (RFQ) designed to enable a professional market manufacturers to manage liquidity pools, thereby fully alleviating many of the issues currently faced by AMMs.
Not only are AMMs generally capital inefficient, they are also routinely prone to risks such as sandwich attacks, front running, and other MEV exploits. Hashflow is able to give traders access to improved efficiency and security, as well as many unique offerings previously thought impossible in the DeFi space.
A closer look at what Hashflow brings to the table
Since its market debut in August 2021, Hashflow has continued to gain traction. This is because the platform offers fully commission-free trades, with all courses executed exactly at their displayed price (no slippage). This gives users the most value for their capital in every trade.
Hashflow trading metrics
In just over a year, Hashflow has seen over $10 billion in total trading volume, with over 170,000 unique wallets currently operating on the platform. Additionally, the platform currently hosts a total of 5,282 Liquidity Providers (LPs) and 31 crypto pools at over $42M TVL. Finally, Hashflow processes more than 130,000 monthly trades while hosting approximately 1,800 daily users. As a result, it is now in the DEX top 10 by total volume with an average daily volume of $40 million.
Hashflow Pool Metrics
Additionally, Hashflow offers fully native cross-chain swap functionality without the use of bridges or synthetic assets, allowing for seamless trading across one or multiple chains with guaranteed price execution. Finally, the platform routinely facilitates a series of community-driven events to maximize platform participation and engagement. For example, Hashflow recently completed its free mint NFT mint “Enter the Hashverse” which now has a secondary trading volume of over 400 ETH. Hashflow also introduced the $HFT hashflow on Binance Launchpool. As a result, users are now able to farm $HFT using $BNB and $BUSD.
Why Hashflow?
One of the most appealing facets of Hashflow is that it’s completely permissionless, so users don’t need to sign up or create any kind of account to use the protocol. All they need to do is connect their crypto wallet to the interface and start trading – no registrations or deposits are required. While many other exchanges (Uniswap, Curve, Sushiswap, and Pancakeswap, among others) charge up to 4% commission, Hashflow charges a flat 0% on all transactions.
As mentioned, Hashflow quotes are executed at their displayed price while facilitating large trades seamlessly across multiple chains in minutes. Finally, in recent years, the project has been able to attract significant capital from a number of industry giants, including Dragonfly Capital, Electric Capital, Jump Crypto, Wintermute, GSR, Coinbase Ventures, Galaxy Digital, Kraken Ventures, and Alameda Research, among others. In fact, Hashflow successfully raised $25 million in a Series A funding round earlier this July, bringing its overall valuation to $400 million.
looking ahead
As the world continues to move in a decentralized direction, it stands to reason that the use of DEXs will continue to grow, especially as more and more people around the world seek financial alternatives to the existing traditional banking systems. In this regard, Hashflow could be a perfect avenue for anyone looking to get into the world of crypto or DeFi, as it comes with a whole host of unique features designed to cater to the needs of both novice and seasoned crypto enthusiasts.
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