The Gateway for EigenLayer and Babylon
It might surprise you, but take a moment to ponder this UX:
How great would it be if you could exchange Fiat<>Crypto as you swap on DEX, and could use dapps without being aware of base layers(L1/L2)?
That’s the world we’re trying to build. For Next 1B onboarding, we are building Hana Network, the first gateway for EigenLayer and Babylon.
Let’s dive right in and explore it more deeply.
What is Hana Network?
Hana is the Gateway for Eigenlayer and Babylon.
At a high level, technically, Hana Network is a Proof of Stake (PoS) blockchain built on the Cosmos SDK and Tendermint consensus engine with Privacy pool and with Threshold Signature Scheme (TSS) to connect with Ethereum, Bitcoin and other L1/L2s.
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 on-off ramp.
Existing solutions for on/off ramping are not sufficient to address this need. High fees, Complex KYC, Some frauds with a centralized player.
Therefore, Hana will provide a new solution, trustless on-off ramp.
No fees, No Fraund, Permissionless without a centralized player.
Hana Gateway : The End of Centralized Exchanges
Therefore, the necessity for seamless interoperability between fiat and crypto becomes much more important.
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 sucks.
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.
This article addresses this issue in more detail👇
https://lattice.mirror.xyz/30fvMb2MxoH2pRQ_5pXsGmudR62-RvrNKEzHluxYGrU
How Hana Network works?
At a high level, 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 gateway omni-chain protocol for Next 1B.
Features
Chain abstraction
By Hana Transportor based on TSS, All of interactions and transactions can take place in a single interface that allows seamless access to Ethereum, Bitcoin and other L1/L2s. That’s how blockchains must be abstracted away from the user so they are not barriers to entry or participation.
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.
Onboarding focused apps
on Hana Network, onboarding focused applications are built permissionless for non-crypto-native users. For example, it might be a trustless on-off ramp without CEX, a commission-free trading app like Robinhood, or a new crypto payment solution. In fact, such applications have already been built and are being used by over 100,000 people, mainly in developing countries.
Privacy-preserving
as the Gateway position, transactions should take place in a private way. Privacy Pools are built on a top of Hana Network , providing compliance functionality to protocols that offer Confidential Tx capabilities. As a future option, we are considering implementing Encrypted ERC-20, inheriting all functionalities from the standard ERC-20. Private token transfers are executed easier. In the final, all of transactions can take place in a single interface and in a completely private way.
BTC & ETH security
as PoS Network and AVS, Hana Network can get BTC and ETH security by collaborating with Babylon and EigenLayer
Use Case
Trustless on-off ramp
No fees, No fraud, Permissionless
Already released Hana Gateway testnet powered by Hana Network and Hana Gateway has about 200k users now.
Hana Gateway is the gateway platform between crypto and real world, providing CeFi-like and self custodial user experience, with trustless on/off ramp, interoperability and privacy.
And, Hana Gateway provides Peer-to-Peer transaction between fiat and crypto assets can be realized without intermediary.
More details👇
https://medium.com/hananetwork/hana-gateway-the-end-of-centralized-exchanges-b8f0b1144ced
Restaking Trinity
Your Earn brings Your Privacy, Security, and Rewards.
Users can restake from any chain and maximize Privacy, Security, and Rewards.
By collaborating with Eigenlayer and Babylon, users can make magical things.
Just by staking on Hana Network
It has the following benefits:
・Maximizing BTCÐ security `
・Maximizing the privacy pool size
・Maximizing on-off ramp liquidity
・Maximizing rewards from Hana+Eigen+Babylon
and this solution brings directly contribution to Eigen&Babylon TVL
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 gateway layer for Eigenlayer and Babylon ecosytems, creating new network effects. Also looking for collaborations to give positive feedback for LRTs and LSTs. Stay tuned for the next updates!
