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Summary
- SaucerSwap is the first decentralized exchange (DEX) for the Hedera network, facilitating token swaps using Hedera's Smart Contract Service (HSCS) v2.0 and Token Service (HTS).
- Stader is a crypto liquid staking platform that lets users earn HBAR rewards for staking without having to manage infrastructure. It integrates with DeFi protocols like Aave and Pendle.
- HeliSwap is an open-source DEX for the Hedera ecosystem, built around community needs. It supports the exchange of HTS and ERC-20 tokens.
Hedera Hashgraph, known as the pioneering distributed ledger technology capable of processing a staggering 500,000 transactions per second, has taken strides toward open accessibility.
Hedera initially operated on private networks, but its open-source Software Development Kit (SDK) has attracted over 5,000 developers to its Discord channel.
With its versatile offerings, including smart contracts, file storage, and a native cryptocurrency, Hedera Hashgraph aims to revolutionize a wide range of industries. From finance and real estate to gaming, media, and entertainment, the potential for disruptive innovation is promising.
Here we will explore the top five Hedera Hashgraph dApps that transform across multiple functions:
Unveiling the Top 3 Hedera-Based Projects
1. SaucerSwap: Redefining Decentralized Exchanges on Hedera
SaucerSwap, an automated market maker (AMM) protocol, has taken the lead as the world's first decentralized exchange (DEX) on the Hedera network, facilitating token swaps. With its utilization of Hedera's Smart Contract Service (HSCS) v2.0 and Token Service (HTS), SaucerSwap is propelling the growth of the Hedera ecosystem, serving as a crucial onboarding ramp for various HTS projects.
The protocol's DeFi framework, incorporating advanced features such as liquidity pools, yield farms, and cross-chain capabilities, positions it as a cornerstone for the network's expansion.
2. Stader Labs: Spearheading HBAR Staking Solutions
Stader Labs, a crypto staking platform established in 2021, has enabled a liquid staking solution tailored for HBAR, backed by the Hedera Foundation. Stader's platform offers users a seamless staking experience, allowing them to earn HBAR rewards without the complexities of infrastructure management.
Through its user-friendly Dapp, Stader enhances liquidity through tokenization, streamlining the staking process and ensuring a seamless and rewarding experience for HBAR token holders.
3. HeliSwap: Empowering the Community with a User-Focused DEX
HeliSwap, an open-source decentralized exchange (DEX) platform, has emerged as a force within the Hedera ecosystem, providing a platform for community-driven innovation.
Based on the codebase of Uniswap v2, HeliSwap centers its design philosophy around user accessibility, delivering a secure, transparent, and intuitive DeFi experience. Notably, it represents the first DEX to support Ethereum's ERC-20 tokens on Hedera, enabling participants to seamlessly swap between HTS and ERC-20 tokens, fostering a sustainable and cost-efficient environment for the community.
The Potential of Hedera-Based Projects
The Hedera-based projects that we mentioned exemplify the platform's versatility and potential in reshaping various sectors. As Hedera opens new doors for innovation and development, its impact on decentralized applications may redefine standards of efficiency, security, and user accessibility.
The Hedera Hashgraph has also recently reached 20 million transactions. At the time of writing, Hedera TVL stands at $49.67 million. Its native token, HBAR, is trading at $0.04763 as of press time.