Consumer App × Restaking

A Consumer Crypto app will eat everything.

The crypto space is hungry for something real, consumer app that tens of millions of people are excited about. Users crave a user-friendly experience, contrast to the overly technical interfaces that often plague Web3 applications. The era of fat protocols is coming to an end, and overwhelming consumer apps will drive this space.

Since average users of consumer apps are more sensitive to onboarding friction than crypto degens, This UX is needed by default: users can seamlessly onboard to the app without CEX and only interact with a single interface that brings chain abstraction.

That’s the UX we’re trying to build. For Next 1B onboarding, we are building Hana Network, the consumer centric layer.

Let’s dive right in and explore it more deeply.

What Hana Network solves?

To onboard the next billion users onto crypto, user experience really matters. However, current mechanisms are still too difficult for mainstream users. Two problems are blamed for most of the barriers.

The fitst is the difficulty of onboarding.

Current solutions like CEX can discourage new users from joining. Existing onboarding with CEX has complicated KYC, high fees, and a long way to connect to the on-chain apps. Therefore, Hana will provide solutions that allow consumer apps to quickly onboard users.

This is one example, trustless on-off ramp, eliminating the need for centralized exchanges. No fees, No Fraund, Seamless access without a centralized player.

Hana Gateway : The End of Centralized Exchanges
No more CEX, New Onboarding.

The other problem is the lack of chain abstraction.

Builders and users are still largely required to directly interact with the base protocol layer of crypto ecosystems (L1/L2). In spite of that, this layer is inherently complex and has made pre-defined technical and UX trade-offs to fulfill the particular ethos across the blockchain trilemma it’s trying to optimize for (e.g. decentralization, scaling, etc). Directly interfacing with this layer isn’t easy, and needless to say, the experience of bridge are often poor.

In order to solve the above, Hana Network becomes the onboarding focused middleware connected to base layer, the gateway layer for seamless access to L1/L2.

Thanks to Hana, users and builders are no longer confused by base layer limitations and bridging difficulties.

The following article outline the lack of chain abstraction👇https://lattice.mirror.xyz/30fvMb2MxoH2pRQ_5pXsGmudR62-RvrNKEzHluxYGrU

How Hana Network works?

At a high level, Hana Network is the consumer centric layer, enabling social onboarding to Restaking ecosystem. Consumer applications are built permissionless for non-crypto-native users. The main focus areas will be socialfi, payments and real-world services.

Technically, Hana Network is a Proof of Stake (PoS) blockchain built on the Cosmos SDK and Tendermint consensus engine with Threshold Signature Scheme (TSS) to connect with Ethereum, Bitcoin and other L1/L2s. It operates as the consumer focused omni-chain protocol for Next 1B.

Key Features

Consumer Apps × Restaking

Hana is unique in bringing consumer apps to EigenLayer and Babylon. Now, there are already plenty of LRTs and DeFi like Renzo and Pendle around Restaking for crypto natives and whales.

On the other hand, Hana aims for a broader audience, the everyday people to join the Restaking ecosystem with simplicity.

One of the keys is mobile-focused applications like gamified finance (GameFi) and social finance (SocialFi) that seamlessly integrate Restaking experience into user-friendly interfaces. Imagine playing a card game where you earn rewards through restaking products, or using an on-ramp and off-ramp service that leverages restaking to improve efficiency.

Moreover, Hana Network applications benefit from the network effects of established Proof-of-Stake (PoS) blockchains with restaking mechanisms. As a PoS network itself, Hana Network leverages the security of established networks like Ethereum and Bitcoin through this “restaking” process. Babylon Security (BTC) can be accessed on the Cosmos ecosystem via IBC, while EigenLayer security can be inherited through Ethos.

In short, Hana Network is bringing a new user experience to the Restaking ecosystem with simplicity.

Chain abstraction

Hana Network breaks down barriers for developers and users by embracing chain abstraction. This approach removes the complexities of interacting with different blockchains, making the underlying technology invisible to the user.

Develop Once, Deploy Anywhere

Hana Network embraces EVM compatibility, allowing developers to leverage the existing ecosystem of tools and applications. This means any existing EVM application can be easily expanded to Hana Network. No need to rewrite code from scratch!

This compatibility opens doors for developers to seamlessly bring their dApps to our network, benefiting from Hana’s advantages like faster transaction speeds and lower fees.

Gateway features: Your Unified Gateway

Imagine a single interface that unlocks access to all blockchains, including Ethereum, Bitcoin, and a variety of Layer 1 and Layer 2 solutions. This is the power of Gateway features, built with Threshold Signature Scheme (TSS). It streamlines user experience by removing the need to manage the intricacies of individual blockchain protocols.

Technical Insight: Secure and Efficient Asset Management

Hana Transporter leverages TSS to generate a unique address. This address requires the combined authorization of validators for use, eliminating the need to expose your private key. Through this secure address, users can effortlessly mint and redeem assets like native tokens and ERC20 tokens directly on the Hana Network.

Benefits: Frictionless Value Transfer and Enhanced Security

By harnessing Hana Network’s built-in TSS functionality, developers can build value-transfer applications that bypass the need for asset bridging or wrapping. This not only simplifies the process but also reduces a significant security risk for users.

More technically, with Hana Trasnporter, TSS address is generated that can only be signed using Validator’s threshold signature without anyone knowing your private key, and through that address, each assets such as native tokens and ERC20 is minted and redeemed on Hana Network.

By leveraging this TSS functionality built into Hana Network, one can build value-transfer applications that don’t bridge/wrap assets, minimizing risk for users.

Use Case

Trustless on-off ramp

No fees, No fraud, Permissionless

Hana Gateway removes the friction from entering and exiting the blockchain ecosystem. It offers a trustless on-off ramp, meaning you have complete control over your funds throughout the process. No hidden fees, no fraud, and complete permissionless access.

Early Traction: A Thriving Community

The Hana Gateway testnet, powered by Hana Network, has already attracted a vibrant community of over 200,000 users. This early success demonstrates the demand for a user-friendly and secure way to bridge the gap between traditional finance and the exciting world of blockchain.

Beyond the Basics: A Unique User Experience

Hana Gateway goes beyond simple exchange functionality. It delivers a CeFi-like user experience with the added benefit of self-custody. This means you enjoy the ease of use associated with centralized platforms while maintaining complete control over your assets.

Interoperability and Privacy at the Core

Hana Gateway prioritizes both interoperability and privacy. It facilitates peer-to-peer transactions between fiat and blockchain assets, eliminating the need for a middleman. This not only streamlines the process but also enhances user privacy.

More details👇
https://medium.com/hananetwork/hana-gateway-the-end-of-centralized-exchanges-b8f0b1144ced

Card game for LRT/LST

LRT/LST staker can play cards and create your own card deck. details are coming soon.

As The Gateway for EigenLayer and Babylon, we brings a positive feedback loop to LRT/LST.

This launch is the beginning of Restaking Trinity story.

Restaking Trinity

Earn with Enhanced Privacy, Security, and Rewards

Restaking Trinity redefines what it means to earn on DeFi. This innovative solution from Hana Network empowers you to restake your assets from any blockchain while maximizing privacy, security, and rewards. It’s a win-win for everyone involved.

The Power of Collaboration: Hana Network, EigenLayer, and Babylon

Through collaboration with industry leaders like EigenLayer and Babylon, Hana Network unlocks a world of possibilities. By simply staking on Hana Network, you gain access to:

• Maximum Security for Your Bitcoin and Ethereum: Leverage the combined strength of established networks for enhanced asset protection.
• Expanded Privacy Pool: Contribute to a larger privacy pool, making your transactions even more anonymous.
• Increased On-Off Ramp Liquidity: Enjoy smoother transitions between fiat and crypto asset with improved liquidity.
• Supercharged Rewards: Earn attractive rewards from Hana Network, EigenLayer, and Babylon, all in one place.

By participating in Restaking Trinity, you not only benefit yourself but also contribute directly to the growth of the EigenLayer and Babylon Total Value Locked (TVL). This fosters a robust and thriving ecosystem for everyone.

More details👇
https://medium.com/hananetwork/restaking-trinity-with-eigenlayer-and-babylon-21e3ac54f05d

What is Next?

Currently cooking for the next testnet, and will be the consumer centric layer for Eigenlayer and Babylon ecosytems, creating new network effects. Stay tuned for the next updates!