Disclaimer: Please note that this release is still in beta, which means that it may have bugs or other unidentified issues. While we’ve worked diligently to ensure its stability and security through testing, it is essential to exercise caution with funds as it is the first mainnet iteration of the Hydranet DEX. Your funds are important to us, and we recommend using this beta release with smaller amounts to minimize any potential risks as unexpected bugs may occur. We appreciate your feedback and will continue to make improvements based on user experiences, as well as closely monitor the performance under live deployment.
The wait is over, Hydranet DEX is live on mainnet!
We are proud to have reached this day, where users for the first time in crypto history, will be able to perform trustless and near instant cross-chain trades on Layer 3!
The Hydranet DEX is an all containing Multi-currency Light Wallet (MCLW) and Decentralized Exchange. The DEX has a built-in trading interface resembling that of a Centralized exchange with an order book, a Simple-Swap UI for those looking for a one-click trading experience, and a Channel Management interface for controlling off-chain funds. It is operating off-chain via a hub to facilitate swaps and market-making between different blockchains and their native assets. The MCLW will determine the total value of holdings with the decentralized oracle networks powered by Chainlink.
Going off-chain
In order to enable seamless and cheap cross-chain trading of native blockchain assets, where users also has to keep custody of their funds throughout the entire process, the Hydranet DEX implements the latest off-chain technology to bridge the gap between the Bitcoin blockchain and several EVM networks (Ethereum, Arbitrum etc.). The Lightning Network is implemented for Bitcoin-side interactions and the Connext Vector Network for the EVM-based networks. By combining the state channel technology provided by these protocols, the DEX facilitates off-chain swaps between different blockchains as a Layer 3 solution! In depth documentation can be found here.
The Hydranet DEX has the following key features, making it unique on the crypto market:
- Trustless trading: Users remain in custody of their funds at all times.
- Fast trading speeds: Off-chain trades are not limited by traditional block confirmation times.
- Scalable: Processes are handled by the clients themselves, every client will scale the network instead of choking it.
- Low transaction fees: Off-chain trades are not recorded on the blockchains, hence not dependent on the network fees.
- Order book Liquidity: Unlike other DEX solutions, Hydranet DEX will have an integrated order book.
- Privacy (off-chain): Off-chain trades are not recorded on the individual blockchains.
- Native asset cross-chain trading: The Hydranet DEX allows for native assets to be interchanged (Bitcoin <-> ETH), eliminating the need of wrapping.
Featured Pairs
Initially, the DEX will be launched with the following pairs and more pairs will be added over time as the user base grows and liquidity goals are met.
- aETH — BTC
- BTC — aUSDT
- HDN — aUSDT
- ETH — BTC
Mainnet — Beta
With this release we are finally deploying our software on the Arbitrum One, Ethereum and Bitcoin blockchains. This means that all on-chain interactions on the Hydranet DEX will be live on the different blockchains, trading live assets, whereas earlier public releases have only operated on testnets with testnet funds. This release has been thoroughly tested on mainnet by a dedicated closed mainnet test group, however it is important to note that it is not in its final state and that it is still a beta build. That means that unexpected bugs may occur and that we will constantly monitor and improve the performance as we go. The UI will continue to be improved over time. This is why your participation in this phase is invaluable as we work toward a polished and secure final release. We highly appreciate your feedback and will continue to make improvements based on user experiences.
How to access it:
You can download the latest version of the Hydranet DEX here:
https://hydranet.ai/en/hydranet-dex
Getting started:
You can find tutorials regarding the Hydranet DEX here:
- Video Guide: BTC — ETH Swaps & Channel Management
- Video Guide: HDN — USDT Swaps & Channel Management
- Text Guide: Getting Started
- Text Guide: Open and rent Connext channel
- Text Guide: Open and rent Lightning channel
Good to know:
At the time of launch, there will be a $100 channel rental cap, meaning trades will be limited to a maximum of $100. Being in beta also implies that there will be some amount of shortcomings in the UI and some functions yet to go live at this time.
Future improvements:
With the valuable user feedback from the beta we will continuously improve and release new builds of the DEX. Here are a selection of planned improvements:
- The trading pairs will get increased liquidity volumes.
- New tokens and trading pairs will be added.
- The UI will be updated based on the user feedback and expanded as new features are added to the DEX.
- Decentralization of the Hydranet DEX as we today face a limitation by the fact that the Connext network does not support multi-hub routing of payments and the order book. A solution for this issue is already planned in the coming roadmap.
- Releasing an API interface for bot integration.
- Implementation of trading fee reduction for HDN holders.
- Implementation of other blockchains.
Stay tuned for the biggest roadmap update so far to see what the future of Hydranet holds. It will be very exciting to share with you all!
Thank you for participating in this early and exciting phase of the Hydranet DEX development.
To stay updated or ask any questions you have: Join us on Discord and follow us on Twitter to stay up-to-date with our latest news and developments.
Make sure to check out our website: https://hydranet.ai
