coinspeaker.com
By directly integrating Solana, Hashflow 2.0 becomes the first DEX to offer cross-chain trading between Ethereum and Solana.
Decentralized exchange Hashflow is out with its 2.0 iteration, and may have added some advancements to its platform. First off, the December 5 launch includes support for Solana, which is arguably one of the fastest and most scalable blockchains. It also features DEX aggregation services, albeit for the first time on its platform. That is, traders may now access the best prices and liquidity across multiple DEXes, and would, therefore, be able to make the most informed choice for their trades.
Details of the New Features of Hashflow 2.0
Hashflow is looking to leverage its unique Request-for-Quote (RFQ) technology to offer user orderflow to market makers. Unlike the automated market makers (AMMs) with a fixed formula and high slippage and gas fees, the RFQ fetches quotes from market makers who manage the liquidity pools on the platform. This allows the platform to offer lower-cost trading at fast execution, according to Hashflow.
Then there is the new Smart Order Routing (SOR) feature. Hashflow 2.0 will be able to source quotes from third-party DEXes such as Uniswap, Curve, Sushi, and Balancer. So, invariably, traders will be able to carry out seamless transactions using the best available option. That is because they have access to over $8B worth of liquidity and the best rates that can be found in decentralized trading.
The high performance of the Solana blockchain is another thing that Hashflow seeks to leverage. Recall that the blockchain processes about 50,000 transactions per second and charges substantially low fees. So, by directly integrating Solana, Hashflow 2.0 becomes the first DEX to offer cross-chain trading between Ethereum and Solana. And it will do so without the need for an external bridge or intermediary. This means that users can easily swap their major assets such as BTC, ETH, USDC, and USDT across the two chains.
Speaking about the Hashflow 2.0 update, Varun Kumar, Hashflow’s co-founder and CEO believes that it marks a major turning point for the platform. In addition, he also believes that it represents a major milestone for the entire decentralized finance (DeFi) ecosystem.
The rollout of Hashflow 2.0 will take place in stages. For now, it has gone live on the Ethereum mainnet and the alternative Layer 1s BNB Chain and Avalanche. Expectations are that rollouts to Solana and Ethereum Layer 2s Arbitrum, Optimism, and Polygon will also follow shortly.
Since launching in April 2021, Hashflow has settled trades worth over $17.6B, amassing more than 80,000 users in the process. The platform has eyes set on becoming a leading DEX, especially for traders interested in speed, efficiency, and security.