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DeFi Trading Platform Hashflow Introduces Bridgeless Cross-Chain Swaps

DeFi

www.coindesk.com 28 April 2022 01:53, UTC
  
Reading time: ~2 m

Decentralized finance (DeFi) trading platform Hashflow (HFT) is  introducing a new feature to enable bridgeless cross-chain swaps, the company announced Wednesday

  • Hashflow’s trading platform uses a request-for-quote (RFQ) model, where professional market makers set token prices.
  • Unlike Hashflow, most prominent DeFi trading platforms use automated market makers (AMMs) to facilitate trades, but larger AMM trades can lead to high slippage – which is when the price of a token changes while a swap is in progress.
  • With Hashflow, “you're basically requesting a quote from someone who has done price discovery off-chain, so as a result, you're able to essentially get better prices,” Hashflow founder Varun Kumar told CoinDesk.
  • Hashflow will enable native-to-native swaps, meaning users must not rely on problem-prone cross-chain bridges and won’t receive “wrapped” versions of tokens when they swap across chains.
  • Hashflow’s cross-chain trading feature is currently in Alpha mode and will support swaps between Ethereum, Avalanche, BNB Chain, Arbitrum, and Polygon at launch.

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