The Final Sprint
We hope you are just as excited as we are heading into our final phase of preparation.
We have completed development stage and are in the final testing phase now, we have also scheduled our audit with CertiK to start on the 4th of April and expecting to receive their first round of feedback on the 10th. We estimate to be ready to go live between 15th to 20th if all our codes check out with CertiK.
LOVE holders may choose to withdraw their LOVE token for now as rebase have ceased. We will be revealing more information on the next step for our LOVE holders soon!
In our previous update we mention we will be building HunnySwap in Aurora chain, but guess what? After countless conversations with industry leaders and doing some digging into the transactions of Aurora, we found out that almost 85% of transactions happening on Aurora chain are big transactions, we believe that those transactions are from Aurora Devs themselves or their early investors. With these findings, it led us to raise some concerns on the chain itself.
1) Security of Chain
2) TVL concentration
Volume is a major concern when it comes to building a DEX, with low volume of transactions, and a growing TVL that’s questionable, Aurora chain may not be the best bet for now.
With our suspicion on the source of TVL on Aurora chain, Security is the next major concern, although we have not seen a rugpull on network level, but it’s always better to play it safe then sorry.
After much convincing by industry leaders, we have finally concluded and decided that we will be moving to Avalanche.
Avalanche these Hunnies
Stability in the TVL and potential in the tokens price are some of the major factors that drawn us to the C chain. Avalanche is currently the 4th biggest network in terms of TVL right now and the upside potential is huge.
Subnets enable anyone to easily create powerful, reliable, and secure permissioned or permissionless networks with custom implementations. This includes features not available on other chains, like selecting which validators secure their Subnet activity, which token is used for gas fees, custom economic models, and more.
Crucially, Subnets remain natively integrated with the broader Avalanche ecosystem, don’t compete with other projects for network resources, and are available in an unlimited supply. This empowers Web3 applications to differentiate on user experience as they never have before with uniform rules underpinning all applications on a smart contract network.
Subnet is a very unique feature on the Avalanche network and it will definitely attract more development on their chain.
Strap on, and get ready for our next adventure together!