Hashbon to launch its rocket on DeFi: the very first cross-chain DEX
The decentralized finance market (DeFi) has made waves in the blockchain and crypto industry. With the rise of DEXs with intrachain functionality, there is still a problem of inter-chain exchanges of coins, for example ERC-20 tokens in BEP-20, in a decentralized manner. Hashbon Fire The crypto ecosystem (Finance Reinvented) has launched its Hashbon Rocket CDEX (“C” for “cross-chain”) to solve this problem.
This move will see Hashbon FiRe move from a simple crypto payment system to a full-fledged DeFi & CeFi ecosystem and offer the ability to exchange crypto tokens from one blockchain protocol to another. in just a few steps.
Hashbon Rocket paves the way for CDEX
Hasbon rocket is a cross chain decentralized exchange and is expected to become the first in the crypto industry. Unlike other DEXs, Hashbon Rocket will not launch index tokens. The platform is fully DeFi due to a decentralized chain of arbitrators. Traditional decentralized exchanges only support intra-chain exchanges. However, Hashbon Rocket will begin operations by exchanging tokens between the Ethereum and Binance Smart Chain protocols.
The platform hopes to expand to other Ethereum Virtual Machine (EVM) compatible networks in the future. A decentralized network of arbitrators within the platform ensures that all exchanges are fair for all parties involved. These referees are HASH token holders. The Hashbon Rocket CDEX platform deploys a proof-of-stake consensus mechanism where arbitrators make decisions on the platform. The extent of their power depends on their share of HASH tokens. With a larger share comes a greater reward for a correct answer, and conversely, a harsher penalty for an incorrect vote.
According to Grigory Bibaev, Hashbon CEO, “Cross-chain exchange between EVM-enabled blockchains is just the first step. Going forward, we see Hashbon Rocket as a multi-functional DeFi platform that provides a variety of services ranging from DeFi obligations to companies in loans and staking. “
HASH fuels the rocket’s journey
HASH Token is a BEP-20 and ERC-20 compliant token that powers the Hashbon Rocket platform and the entire Hashbon FiRe ecosystem. It empowers various participants of the platform system – its use cases are described in the project white paper. For example, liquidity providers will have to pay arbitrators before they can trade, and payment is in HASH tokens. The token also grants arbitrators the power to vote for approvals of transactions or to submit proposals, as the case may be. Additionally, HASH will fuel DeFi bonds and crowdfunding once these features are added.
The token can be tracked on BscScan and EtherScan with the address 0xeb1112ac78d537853150e2a07e8b765e29d3f019. The HASH token is currently listed on exchanges such as Uniswap, Pancake Exchange, Coinsbit, and also placed on CoinMarketCap and CoinGecko. Until November 4, there is a great opportunity to get HASH in presale via The Hashbon site.
The ecosystem above all: Hashbon FiRe (finance reinvented)
Hashbon Fire is an encrypted payment ecosystem that has been operating since 2016. Besides Hashbon’s Rocket, other services include the Hashbon Quant wallet created to receive and transfer crypto assets smoothly and securely. There is also the Hashbon React payment gateway which helps merchants perform crypto transactions without paying commissions. Some of the huge benefits of Hashbon FiRe are the absence of commissions for all crypto payment processes, over 30 major crypto assets available on the platform, and big plans to increase the number of supported crypto currencies.
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