Final CORE DEX announcement X/Twitter: https://x.com/TheHydranet/status/1818632729325441383We have closed all channels on the Hydranet Core DEX. Any remaining funds from your channels have been automatically sent to their respective EVM Layer 1 addresses. Please check your Core DEX wallets to confirm receipt of your assets. If you encounter any issues accessing your funds, you can easily import your seed phrase into a new Metamask account to manage your assets there. We sincerely thank everyone who tested and used the Core DEX over the past year. Your participation has been invaluable. We hope you are all equally excited for our upcoming Web DEX, which you've helped shape through your feedback and your loyalty. This new platform will offer significant improvements in many areas, and we can't wait for you to experience it. 💫 Our mission is to revolutionize the DEX and bridge ecosystem, and we look forward to your continued support and engagement. Stay tuned for more updates on the upcoming launch of our WebDEX!Thank you for being part of our community! 🙏
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Hydranet - Weekly Update #119 X/Twitter: https://x.com/TheHydranet/status/1816590724063740098CoreDEX Sunset- DAO vote to temporarily sunset the Core Dex has been passed with 100% community approval and will be carried out immediately: https://x.com/TheHydranet/status/1816433872885678214- Please withdraw your funds until July 31st and save your seed phrases just to be sure - Our Devs will force-close any channels and the remaining funds will automatically be sent back to their original wallets. Thank you everyone for participating in our first iteration of the Hydranet Core DEX, which was more than a convincing proof of concept and allowed us to develop and streamline countless Hydranet technologies
and incorporate them into the upcoming WebDEX in an improved and more convenient form!Web3 Wallet- Lithium V2 was just pushed to closed beta testers and is now being tested thoroughly by them WebDEX- Basic Channel Rental functionalities have been implemented in the backend - Frontend work for Channel Rentals continues - Hub syncing issues have been identified and fixed MultiSig- Due to additional volume requirements, DAO has decided that HDN will be delisted from Toobit in order to save valuable project funds! https://x.com/TheHydranet/status/1816457982432907367- Drip was added as a new multi-sig member, he will leverage his experience to help the Hydranet DAO establish solid VC contacts
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Attention Hydranet Community
After careful consideration regarding our pause with the HDN WhiteBit listing, we have identified a new challenge:
Toobit is now requesting increased trading volume. Given the lack of organic volume on Toobit, we have decided to remove our liquidity and focus our efforts on MEXC.
While we usually make such decisions through a community vote,
the inactivity on Toobit necessitates a prompt decision by the Hydranet representatives to act in the DAO's best interest.
This situation has Highlighted an important lesson for our DAO: listings alone do not guarantee trading volume.
A potential tier one listing could boost our visibility, but without a compelling product or user environment, sustained momentum is unlikely.
Moving forward, our primary focus will be enhancing our use case and ensuring our product is actively utilized before considering additional listings on higher-tier exchanges.
Please transfer any funds from Toobit to your on-chain address.
Thank you for your understanding and continued support.
Close Deposit: 7/30/2024 10:00 AM UTC
Close Trading: 7/30/2024 10:00 AM UTC
Close Withdrawal: 8/7/2024 10:00 AM UTC
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Hydranet DAO Q2 2024 Financial Update
Dear Hydranet DAO Community,
We are pleased to present the financial update for Q2 of 2024.
Throughout this period, we have made significant progress across various aspects of our project,
focusing on development and cost reductions in management, operations, and marketing.
Here's a summary of our accomplishments:
Q2 Accomplishments:
1. Marketing:
- Marketing agencies reviewed, discussions with four companies are being evaluated
- Several monthly recap articles published
- Core DEX trading competition initiated and completed
2. Core DEX:
- Added Arbitrum-ETH/ETH trading pair
- Released new wallet version with UI fixes
- Rolled out LSSD and Vortex bot implementation to beta testers
- Added certificate for Windows to avoid warnings during installation (transfers to Web Dex)
- Core DEX trading competition completed with $100,000 traded off-chain p2p
3. Web3 Wallet & WebDEX:
- NOVA release was very successful, positive feedback received
- Channel rental manager finished, currently getting implemented
- Public testnet release and several UI improvements & bug fixes
- Implemented Lithium protocol (v1)
- Started multi-hop (Lithium V2) team testing
- Released transaction page improvements to beta testers
4. DAO:
- USDT on Aave: We provided 40k, now worth around 40.9k
- USDC on Aave: We provided 20k, now worth around 20.34k
- DAO vote passed to allocate 5 million HDN for ongoing development
- DAO forum live with active proposals
- VC outreach continues emphasizing marketing needs as the first trench
5. Lithium:
- Gas optimizations completed and V1 is fully functional
- Lithium indexer is completed
- Unilateral settlement logic implemented
- Multi-path payments and hashlock resolution implemented
Q2 Financial Allocation:
1. Dex Development, R&D: 1,924,754 HDN & 24,510 USDT
2. Multi-sig / DAO Management: 342,683 HDN
3. Operations: 157,873 HDN
4. Marketing: 244,466 HDN & 294 USDT
5. Legal: 475 USDT
Overall, there has been an increase in Dex Development and R&D spending due to accelerated project activities and progress.
We are moving quickly, anticipating positive market sentiments. Given the overall market circumstances in Q2, we cut down most of the efforts for operations, marketing, and management,
planning to ramp these up closer to our next-gen product release. In Q2, spending decreased by approximately $60,000 USD.
This reduction reflects the weighted average of the HDN price and the decreased value from Q1, demonstrating our commitment to financial responsibility and efficient resource allocation.
DAO Addresses:
- POL: 0xB9eBe487fc454264CbCdDfd19374D4D2353c779d
- Treasury: 0xEe17c27b97539B292c0dC987707121e51D9Ea41D
- Vault: 0xc5888c4c261a1c5e8745eb1977eb54fcb21d2a28
As we move forward into Q3, we remain committed to our mission of building a robust decentralized exchange ecosystem.
We appreciate your continued support and look forward to sharing further progress.
Sincerely,
Hydranet Representatives
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Hydranet - Weekly Update #116
 X/Twitter: https://x.com/TheHydranet/status/1809302118966391167Web Wallet• The function for estimating Lithium channel routing fees is being improved • Channel rental manager has been refactored and simplified • Preparing UI for channel rentals • More small improvements and fixes of reported bugs Web DEX• SimpleSwap UI has been drafted and is currently being reviewed internally • Continued the development of the orderbook Core DEX• Rewards from the Core DEX trading competition has been distributed. Thank you for your participation!
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Hydranet - Weekly Update #115  X/Twitter: https://x.com/TheHydranet/status/1806456343668158958Core DEX:- Trading competition ended, almost 100.000 USD volume - HDN rewards will be sent out later this week Web DEX- Channel Rental Manager has received various updates and is now being implemented - Lithium v2 is being further improved and debugged - Channel Rental Manager User Interface is being built - Channel Rental API is being tested against front-end infrastructure - Channel Backup feature is being kicked off next - Great progress on basic orderbook features
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CORE DEX: Trading Competition Summary  X/Twitter: https://x.com/TheHydranet/status/1805356024343273527With nearly $100,000 traded on the Hydranet CoreDEX in just two weeks, we've demonstrated that off-chain trading effectively addresses many issues in the cryptoverse. Thank you to all participants for making this event a success! 🥰 In the coming weeks, we will be making significant changes to bring the #WebDEX to the mainnet as soon as possible. Stay tuned for updates! Here is a final overview of our first trading competition. Rewards will be distributed in the coming week! 💸🥇💸
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Hydranet - Weekly Update #114 X/Twitter: https://x.com/TheHydranet/status/1803882566749135004Core DEX- Hydranet's first trading competition has been completed! - Stats are being collected and evaluated, a more detailed update will follow soon! Thank you, everyone, for participating Web DEX- An improved Transaction page has been published to closed beta testers yesterday - Started drafting the first version of the upcoming Simple Swap UI - Hydranet has just carried out the world's first successful Multihop Keysend paymentLithium v2 is almost done and will be rolled out to testers in the coming weeks! This will allow our users to perform native ETH off-chain transactions for ~0 fees!
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Hydranet - WB Ticker UpdateX/Twitter: https://x.com/TheHydranet/status/1803735223932174463Important Announcement:Temporary Ticker hidden from WhiteBit token list Hydranet Community, We are informing you about an important decision regarding our listing on WhiteBit. Due to financial obligations for an appropriate Web Dex release and marketing requirements, we have decided to hide our ticker from the list on WhiteBit. This measure is essential to maintain our good standing with WhiteBit and preserve our relationship. Reactivating our public visibility on the exchange will occur during marketing or shortly after. Key Points:Withdrawal and Deposit Availability:
Users will still be able to withdraw and deposit their tokens at any time. Currently, there are close to 10 million HDN sitting on WhiteBit. Holders can withdraw their tokens to self-custody on-chain addresses to help boost on-chain metrics if they wish to help in that aspect. Trading Continuity: We want to assure our users that despite the temporary change, you will still be able to trade HDN using the direct link provided by WhiteBit via email. Liquidity from the Hydranet Dao will be reduced during this time. This adjustment lowers our financial requirements while maintaining the trading functionality. Strategic Reallocation:
Instead of supporting liquidity and volume requirements on WhiteBit, we will be pausing our financial obligations. This will allow us to better support our liquidity where it's most beneficial for the project. Future Plans:
We want to reiterate that our relationship with WhiteBit remains strong and positive. This is not the end of our listing but a temporary pause to better manage our financial commitments and ensure we have sufficient funds for marketing and Web DEX development. We are committed to returning to the WhiteBit list in the future with increased liquidity, and we are grateful for your patience and support during this temporary phase. We appreciate your understanding as we make these adjustments. Our goal is to strengthen our presence where it matters most and ensure the long-term success of our community and project. The HDN token will be hidden from public listing on Friday, June 21st, 2024, at 1100 CET. WhiteBit will email the link to the platform's users.
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Hydranet - Weekly Update #113 X/Twitter: https://x.com/TheHydranet/status/1801332294185042318Web3 Wallet- Fixed and enhanced features within the transactions tab (A small surprise is planned for the end of this week.) Web DEX- Orderbook research into Uniswap-like liquidity pool has been initiated - First internal Lithium multi-hop tests have been scheduled for this week - Adinael has started working on the orderbook, which marks the last big item before we can start testing WebDEX swaps! Core DEX- Hub Vector database has been upgraded and stabilized significantly - Trading Competition deadline will be extended to June 19th, 20:00 CET All information on our ongoing trading competition can be found here:https://medium.com/hydranet/core-dex-trading-competition-7a83e188eec7Join now, if you haven't done so!Friendly reminder
Make sure to always get your HDN off exchanges and into self-custody,
preferably cold storage!
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Hydranet - Weekly Update #112 X/Twitter: https://x.com/TheHydranet/status/1799096836298252415Core DEX- Vector database has been optimized - New wallet release is being prepared - Extra warning for on-chain settlements will be implemented - Swap times have been improved to 3-5 seconds Web DEX- Multihop network graph and message announcements have been completed - Working on path-finding algorithm for multi-hops - Testing current state of Channel Rental Manager Client - On-Chain payment optimizations for channel rentals have been implemented Marketing- Marketing advisors and agencies have been contacted and are being reviewed - Monthly recap article for May 2024 has been released: https://medium.com/@Hydranet/f1c409b89d12Trading Competition- Hydranet Core DEX Trading Competition is live: https://medium.com/hydranet/core-dex-trading-competition-7a83e188eec7- One week left, so download the Core DEX and start trading today!
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Hydranet Core DEX Trading Competition Kick-Off X/Twitter: https://x.com/TheHydranet/status/1796625139343266036Join the Hydranet Core DEX Trading Competition starting now, May 31, 2024, and ending June 13, 2024!Experience cutting-edge technology with our cross-chain, instant, scalable, and private swaps. Compete for HDN rewards, enhance your trading skills, and contribute to the Hydranet ecosystem. Download the latest Core DEX:
https://hydranet.ai/en/downloadAll details, including rewards and tutorials, are visible here:https://medium.com/hydranet/core-dex-trading-competition-7a83e188eec7Happy trading now!
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Hydranet - Weekly Update #111 X/Twitter: https://x.com/TheHydranet/status/1796254303176237295Web DEX - #Lithium was successfully released to beta testers and is looking very promising so far! - Research and implementation of multi-hops (Lithium V2) has started - "Gossip Network" for multi-hops function is being built - Pathfinding algorithm is being implemented and improved for multiple hops - Rental Manager client #development is almost complete and has now reached early dev testing phase - Previously missing solution for paying on-chain rental extensions has been deployed Core Dex- Released new Core #Dex version with various fixes and improvements - Signed executable for #LND and wallet prevents future windows warnings - Experienced some re-orgs at our #ETH and #Arbitrum nodes, currently re-syncing them Marketing / PR- Core DEX Trading #Competition will be kicked off during the next 24 hours - #AMA with Joe and Phil and Down Under Trading will take place on May 30th (today) at 07:30 PM UTC: - Make sure to join here: https://discord.com/invite/DjeAbG4R
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Hydranet x Down under trading AMAX/Twitter: https://x.com/TheHydranet/status/1795549264745001407To kick off the Hydranet Core DEX trading competition, we will be holding an AMA with DownUnderTrading this coming Thursday @7.30pm UTC in the Down Under Trading discord! Down Under Trading aims to educate #traders on smart, practical trading through risk management and technical analysis. The focus is on teaching traders to understand markets and make their own informed, emotionless trades, rather than relying on external signals. Link to their discord is here: https://discord.com/invite/DjeAbG4RWe're looking forward to welcoming you there and are happy to host our first DEX trading competition!
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Hydranet - Roadmap Update 2024 X/Twitter: https://x.com/TheHydranet/status/1795178603845419252The Hydranet DAO is unveiling its recent update for 2024, readjusting our course to transform the industry of decentralized trading and everyday crypto utilization. Our following game plan is driven by our team's wholehearted commitment to enable Hydranet users with an unprecedented trading experience, combining self-custody, frictionless off-chain trading, and unwavering security and efficiency. This year, our pioneering features will be incorporated into our new flagship product, the Hydranet Web Dex, which will ultimately position us as industry leaders in the evolution of decentralized finance. You can find all the info regarding our grand Roadmap Update on medium https://medium.com/hydranet/roadmap-2024-update-99d944869157 where we lay out a visual overview, showing all the upcoming steps, and then explain each part in detail. You are more than welcome to comment and discuss Thank you for your patience, your feedback is highly appreciated!
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Hydranet - Core DEX Trading Competition X/Twitter: https://x.com/TheHydranet/status/1794831323619635628Start: 30th May 2024 We finally announce the first Hydranet Core DEX Trading Competition, a contest specifically designed to provide our community with the opportunity to experience the benefits of the Hydranet DEX while earning attractive rewards. This competition aims to introduce both existing and new users to our Core DEX platform, showcasing its capabilities and advantages, and to gain valuable feedback at the same time. You can download the latest version of the Hydranet DEX on our official website: https://hydranet.ai/downloadSet up your channels now, and we will see each other on Thursday! Stay tuned for more details and make sure to be prepared by joining/following our Discord, Telegram, and X/Twitter accounts: - https://discord.com/invite/hydranet- https://t.me/hydranetofficial- https://x.com/TheHydranetLast but not least: The 2024 Roadmap update will be published tomorrow!
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