The cryptocurrency market has grown rapidly despite the current bearish macroeconomic environment. One niche, in particular, that has continued to pique the interest of investors across the globe is the decentralized finance (DeFi) market. Between Q1 2020 and Q4 2021, the total value locked (TVL) within this space rose from approx. $600M to a whopping $160B.
Much of this growth can be attributed to the rising popularity of decentralized exchanges (DEXs), which allow users to facilitate monetary transactions directly without the need or interference of a third-party intermediary or custodian. To elaborate, transactions taking place via these platforms are fully automated and are facilitated via the use of smart contracts (i.e. self-executing pieces of code). In fact, via the deployment of these contracts, many of these ecosystems are capable of acting in a completely permissionless fashion, such that users do not require any external consent to use the protocol.
Hashflow is such a DEX – capable of facilitating the exchange of crypto assets across a wide array of blockchain networks. While similar platforms hinge on the use of automated market makers (AMMs) (i.e. for the buying/selling of assets), Hashflow makes use of a unique operational model called request-for-quote (RFQ), which is designed to allow professional market makers to manage liquidity pools, thereby mitigating many of the issues currently facing AMMs completely.
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 provide traders with access to enhanced efficiency and security, as well as many unique offerings that were previously thought to be impossible within the realm of DeFi.
A closer look at what Hashflow brings to the table
Since its market debut back in August 2021, Hashflow has continued to garner an increasing amount of traction. This is because the platform offers completely commission-free trades, with all quotes being executed precisely at their displayed price (with zero slippage). This gives users the most value for their capital on every trade.
Hashflow Trading Metrics
In just over a year, Hashflow has recorded $10B+ in total trade volume, with over 170K unique wallets currently operating on the platform. Not only that, the platform currently hosts a total of 5,282 liquidity providers (LPs), and 31 crypto pools while possessing a TVL of $42M+. Lastly, Hashflow processes 130k+ monthly trades while housing approx. 1,800 daily users. As a result, it is now a top 10 DEX by total volume with an average daily volume of $40M.
Hashflow Pool Metrics
Moreover, Hashflow offers fully native cross-chain swap functionality without the use of bridges or synthetic assets, enabling seamless trading across one or more chains with guaranteed price execution. Lastly, the platform routinely facilitates a number of community-driven events so as to maximize platform participation and engagement. For example, Hashflow recently concluded its “Enter the Hashverse” free-mint NFT mint, which has now over 400ETH in secondary trading volume. Hashflow also introduced the Hashflow $HFT on Binance Launchpool. As a result, it is now possible for users to farm $HFT by Staking $BNB and $BUSD.
One of the most appealing facets of Hashflow is that it is completely permissionless and thus does not require users to sign up or create any type of account to make use of the protocol. All they need to do is simply connect their crypto wallet to the UI and start trading — no registrations or deposits are required. Also, while many other exchanges (including Uniswap, Curve, Sushiswap, and Pancakeswap, among several others) charge up to 4% in commission, Hashflow charges a flat 0% on all transactions.
As mentioned earlier, Hashflow quotes are executed at their displayed price, while allowing voluminous trades to be facilitated seamlessly across several chains within a matter of minutes. Lastly, over the last couple of years, the project has been able to attract substantial capital from a number of industry giants, including Dragonfly Capital, Electric Capital, Jump Crypto, Wintermute, GSR, Coinbase Ventures, Galaxy Digital, Kraken Ventures, Alameda Research, among others. In fact, earlier this year in July, Hashflow succesfully raised $25 million in a Series A funding round bringing its total valuation to $400 million.
As the world continues to move in a decentralized direction, it stands to reason that the use of DEXs will continue to increase, especially as more and more individuals all over the globe seek out financial alternatives to the traditional banking systems that are in place. In this regard, Hashflow could be a perfect avenue for anyone looking to enter the world of crypto or DeFi as it comes replete with a whole host of unique features that are tailored to meet the needs of novice as well as seasoned crypto enthusiasts.