As decentralized finance (DeFi) gains in importance in the blockchain industry, more projects are also brought to market. At the end of 2020, the market size for DeFi was around $ 16 billion. However, within the third quarter of 2021, the market size has grown to an estimated total value of $ 154 billion.
The exponential market growth is the main reason more projects are entering the DeFi market. These new projects are not just brought to market; They offer solutions to some of the industry’s problems. Such is the case of Hashbon FiRe (Finance Reinvented Ecosystem), which is entering the DeFi market with its Hashbon Rocket, a decentralized cross-chain token exchange.
The Hashbon Rocket CDEX platform
Hashbon Finance Reinvented is preparing the launch of its Hashbon Rocket on September 9, 2021. The Hashbon Rocket CDEX platform is set to become the first cross-chain decentralized exchange. This pioneering CDEX platform seeks to solve the problem of exchanging an ERC-20 token for a BEP-20 token in a decentralized way. Unlike the traditional decentralized exchanges that only support intra-chain swaps, Hashbon Rocket CDEX will start exchanging between Ethereum and Binance Smart Chain blockchain protocols. The platform will later be expanded to include other Ethereum Virtual Machine (EVM) compatible networks.
The Hashbon Rocket CDEX platform will use the Proof-of-Stake (PoS) consensus mechanisms. This is where the arbitrators (judges) make decisions, and the power of their stake depends on their stake in HASH tokens. The higher the number of HASH tokens that arbiters have, the higher the reward for a correct answer and, conversely, the higher the penalty for a wrong vote. If you would like to study the full details of the Hashbon Rocket Algorithm, please read the project’s whitepaper.
According to Hashbon Rocket CEO Grigory Bibaev, “The cross-chain exchange between EVM-compatible blockchains is only 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 companies to loans and staking. “
Token for the ruling Hashbon rocket (HASH)
HASH token is a BEP-20 and ERC-20 compatible token and can be tracked on EtherScan and BscScan. It will serve as a utility and governance token for the cross-chain decentralized exchange of Hashbon Rocket. It is the fuel that enables the various system participants. In order to conduct an exchange on the Hashbon Rocket CDEX platform, liquidity providers must pay arbitrators with HASH tokens. In turn, these arbitrators use the tokens as voting rights for reviewing and approving transactions. The tokens can also give arbitrators the power to submit proposals to Hashbon.
People who want to issue DeFi bonds or start a crowdsale also use the HASH token. Currently, HASH is available on pre-sale ahead of Rocket’s launch for those willing to take advantage of the price and step into this DeFi ecosystem at the earliest opportunity. HASH was previously 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 platform’s vision was to offer crypto payments to crypto enthusiasts and day-to-day businesses. In search of a new era of blockchain and decentralized financial development, “Finance Reinvented” (FiRe) became her mission.
In their quest to revolutionize the crypto payments landscape, Hashbon has created a diversified ecosystem that includes:
Hashbon Rocket CDEX platform: Designed for the exchange of cross-chain tokens.
Hashbon Quant Wallet: Developed for the smooth transmission and secure reception of cryptos.
Hashbon React payment gateway: It enables merchants to accept payments in over 30 cryptocurrencies without having to pay a commission.