Hydranet (HDN) - World’s First Layer 3 DEX - Connecting BTC to ETH

[Hydranet HDN]

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HYDRANET (HDN)

Hydranet introduces a native, private, and trustless cross-chain trading technology facilitated by Layer-2 technologies such as the Lightning and Connext Vector Networks, combined in our very own platform, the Hydranet DEX.

This framework enables direct and native exchanges between $BTC and $ETH blockchains without reliance on intermediary bridges or wrapped assets.

Through off-chain transactions, users benefit from minimized fees and rapid confirmation times, contrasting with the protracted process of any on-chain equivalents.

The Hydranet DEX platform offers a CEX-like experience and interface, featuring not just an order book,
but also Single Click Simple Swaps. At the same time, users maintain complete control over their assets.

Embrace KYC-free trading and assert full ownership through absolute retention of your private keys!

Hydranet Core DEX



The original idea for the Hydranet DEX was to stay true to the decentralized spirit of the crypto movement - Trustless Financial Independence.
Hydranet interpreted this core idea as excluding any intermediaries and middlemen, eliminating the last great potential for fraud and deception.
This idea incorporates the goal to render bridges and wrapped assets obsolete. A thought that was deemed utopian for years has now become a reality.

After years of hard work and showcasing the world’s first off-chain native BTC - ETH swap, the Hydranet Core DEX was released as a downloadable desktop application to the public in September 2023.
Download the Hydranet Core DEX


Hydranet Web DEX



In an environment where Web3 solutions and applications are dominating the industry, creating a desktop client can be argued non-ideal.
However, when the Hydranet DEX development was kicked off, this was the only feasible option. Due to the lack of suitable layer 2 web nodes, it was technically impossible to realize a web-based platform.
To our excitement, this has since changed!
During the recent development of the Hydranet Core DEX, we put considerable effort into researching and developing the feasibility of running off-chain nodes in browser environments using two Spiral libraries called BitcoinDevKit (BDK) and LightningDevKit (LDK)
and therefore overcome the major limiting factor within the Lightning Network. On the EVM side, we were also lacking an off-chain protocol that would meet our requirements and simultaneously offer multi-node routing capabilities,
so the decision was made to develop our very own project-tailored protocol, named Lithium, which is already running on our internal WebDex test environment.
At this point in time, we are more than confident in our ability to mirror the capabilities of our Hydranet Core DEX to a Web DEX version and offer our users private and trustless trading of native coins and tokens within the comfort of a web and mobile-based solution!


Hydranet HDN Token

Project Hydranet is a DAO and uses its own Arbitrum token $HDN.
HDN is currently being used for voting on DAO proposals, submitted by DAO representatives (known as the Multi-Sig team), but as we are constructing the Hydranet DEX Network, the backbone of the Hydranet DEX, our token will gain even more features and privileges.
Our ultimate target is to operate the DEX on multiple Hubs and Watchtowers that will not only decentralize but also guarantee the independent operation of the Hydranet DEX Network.
To operate a Hub or Watchtower, HDN holders will need to lock a collateral of HDN. For securing the integrity of the Hydranet DEX Network, these Hubs and Watchtowers will be eligible to receive their share of trading fees, which will be distributed to their respective owners.
HDN holders who do not want to engage in either running a Watchtower or Hub will benefit from even lower trading fees, according to the amount of HDN they hold.
Further plans are in place, to implement a buy-back system, where DEX fees will be used to buy HDN from the market, thereby creating buy-pressure for the token.

Hydranet HDN Token Address
0x3404149e9ee6f17fb41db1ce593ee48fbdcd9506

HDN on Coingecko


Roadmap and Development

Roadmap View

Our updated roadmap for mid- and long-term goals is described in detail in this medium article:

Medium Roadmap Article


Technical Project Details

• The Hydranet Core DEX uses the Lightning Network for Bitcoin and the Connext Vector Network for EVM-based assets for its off-chain implementation.
• All trades on the Hydranet DEX are performed off-chain and are secured using Hashed TimeLock Contracts (HTCL). The HTCL ensures that either both trading participants or none of them receive the agreed-upon funds.
• The Hydranet DEX comprises a self-custodial wallet and adheres to the BIP39 standard for creating and securing mnemonic phrases.
• The Hydranet DEX Network is currently composed of one Hub, which is more than enough to highlight the capabilities of the solution.
• The Hydranet DEX will be available directly from your favorite browser, with the relevant off-chain nodes running within this browser.
• The Hydranet DEX will integrate Lightning Service Providers to improve liquidity provisioning and gain access to the entirety of the Lightning Network
• Project Hydranet’s EVM off-chain protocol Lithium is inspired by the Connext Vector protocol but improved in terms of off-chain transaction times, multi-routing capabilities, and Watchtower functionality
  

[ajanwalker]

As an HDN investor, I am very glad that you opened a topic in the forum. I've been following you on Twitter, but having you here would also be very helpful.

[Marckolind]

Why do we need another Dex? There are already 8,000 of them that no one uses...

This DEX doesn't compare with any other.

Most DEX's run on the Ethereum chain, and are limited to ETH tokens, ONLY. This means, you can't trade BTC, LTC, XRP, XMR, and many other coins, which run on their own native blockchain.

To combat this issue, they made "wrapped" versions of these, but you'd need to TRUST that the "peg" between wBTC, and BTC stays the same.

Furthermore, when the Ethereum chain becomes congested, (seen in the previous bullruns), the network cannot handle the volume, which sends the gas fees, through the roof.


Hydranets DEX, is trustless, trading between blockchains are near instant (BTC <=> ETH), and the fees are virtually pennies, on the dollar.

Uniswap is running through liquidity pools, they don't offer real BTC, transactions aren't instant, (so you can't run arbitrage bots properly), and the list goes on and on.


Off-chain trading is the key component here. Try and do 50 trades on Uniswap, and tell me what kind of fees you'll pay, then compare those fees with Hydranets solution, you'll find, that you'll save A LOT of money.




This is a DEX, that gets you the feeling of trading on a CEX. It's superior to ANY DEX's out there.

[Rawbit]

As an HDN investor, I am very glad that you opened a topic in the forum. I've been following you on Twitter, but having you here would also be very helpful.

Same here.

[denniks]

Off-chain trading is the key component here. Try and do 50 trades on Uniswap, and tell me what kind of fees you'll pay, then compare those fees with Hydranets solution, you'll find, that you'll save A LOT of money.

This is a DEX, that gets you the feeling of trading on a CEX. It's superior to ANY DEX's out there.

well, can you back that up with some numbers, like... using the beta parameters?

[Hydranet HDN]

HDN Tokenomics - Research Update


Twitter: https://x.com/TheHydranet/status/1716057657881096342?s=20


TITANS:
Future hubs, enabling trading operations on the Hydranet DEX Network, will be called "Titans". They will have a limited quantity and require a significant HDN collateral to be operated, therefore their owners will be paid an appropriate share of the total Hydranet DEX and rental fees.
Titans will provide:
Run full blockchain nodes and provide blockchain data to the light clients
Provide rental liquidity and run an order-matching engine

GUARDIANS:
The Watchtowers responsible for monitoring and safeguarding the Hydranet Titans and all users' state channels, will be known as "Guardians." Their quantity will be larger, depending on how many hubs are in operation, but unlike the Titans, they necessitate a smaller HDN collateral commitment. As compensation for their role in maintaining network integrity and security, the operators will be paid a proportionate share of the Hydranet DEX Fees.
Guardians will provide:
Run Watchtowers for both the Lightning & Lithium networks
Monitor Titans' operations and punish them in case of misbehavior

LITHIUM RENTAL LIQUIDITY PROVIDERS:
We are currently developing the possibility for users to provide rental liquidity to EVM channels within the Hydranet DEX network. Users that choose to establish these liquidity pools for Lithium will further enhance the overall DEX liquidity and will therefore be rewarded with appropriate rental fees. To enforce uptime, we are currently researching if an HDN lockup might be useful too.

Summary:
- TITANS (Hubs) will be paid from DEX fees and rental fees
- GUARDIANS (Watchtowers) will be paid from DEX fees
- Lithium Rental Liquidity Providers will receive rental fee rewards

Governance, trading fee reduction, maximum supply, etc. will not be changed or affected.

More details will be provided in the next weeks and a complete tokenomics proposal will be published soon™️

[GucciBoy]

This sounds absolutely sick, really wonder why I haven't heard of this before.

When was the project started, and did they do an ICO of some sort?

There are tons of DEX's out there, only one (afaik) that allows you to trade with actual BTC is Thorchain - Seems like they'll get some serious competition if this project succeeds.

[Hydranet HDN]

Hydranet - Weekly Update #81


Twitter: https://x.com/TheHydranet/status/1716525597592023441?s=20



Core DEX
- Continued adding more features to upcoming #DEX stats page
- Some smaller bug fixes

WebDEX
- Finished channels page design
- Started orderbook research

Tokenomics
- Published Tokenomics research update regarding Titans, Watchtowers, and Lithium LP
- Continued working on Tokenomics Simulator
- Started research for reputation/governance system

Marketing/PR
- Started working on Litepaper
- Started working on a forum for Hydranet #DAO improvement proposal discussions
- Upcoming $HDN CEX listing is scheduled for end of this week


Hydranet - Mid Week Update

Estimated monthly costs to rent or run the required software/hardware for Hydranet DEX network actors:
Guardians: 0-5 USD
Lithium Rental Liquidity Providers: 5-20 USD
Titans: 500-1000 USD

More info:
Due to this great possibility of providing permissionless Lithium channel rental liquidity, the channel rental limits can be increased heavily once implemented. Because the available liquidity isn't dependent on the hub anymore, but on various individuals, offering their assets to provide liquidity.
On the Lightning-Bitcoin side, it is planned to onboard Lightning service providers, which will basically solve channel rental limit issues there.

Treasury Update:
Thanks to huge bond sales, the DAO treasury was able to reach > 100k USD for the first time. We appreciate your support!

Last but not least:
The CEX listing will take place soon, so fasten your seatbelts! 🚀


Hydranet - MEXC Listing
Twitter: https://x.com/TheHydranet/status/1717845631023108104?s=20




Through the continuous support of our community and the funds raised through related bond sales, the team was able to negotiate an HDN listing on the ever-growing and well-known CEX "MEXC"

MEXC is currently ranked #06 on Coingecko and will open HDN to an even larger audience. Although suggested, MEXC does not require KYC,
it offers easy and comfortable access and is one of the most preferred exchanges for users from North-America, Russia and other Asian countries.
MEXC registers an average of 7.6 Million visitors per month.

https://coingecko.com/en/exchanges/mexc

We are proud to represent our token on another top CEX and will continue to reach out to other major players in the field.


HDN will be ready for you to trade tomorrow at 12:00 AM UTC.   

Note: If you plan on using MEXC, please make sure to use our official Hydranet referral code: 1jfE4
https://mexc.com/register?inviteCode=1jfE4

Please leave only as many funds on any CEX, as you intend to trade! Not your keys, not your coins!




Hydranet - MEXC Kickstarter HDN Airdrop

Dear HydraLords, MEXC will not only be listing HDN on their exchange, they also offer a huge deal for participants in their MEXC Kickstarter event!
So, for anyone already holding MEXC MX tokens for 15 consecutive days, you can participate in their Kickstarter campaign and win from 352,942 HDN!

Win from a dedicated Airdrop pool of 352,942 HDN!

Find all the details on the official event page of MEXC:
https://www.mexc.com/support/articles/17827791511248



Also, if you plan on joining the MEXC exchange and want to further support Hydranet,
please consider using our official Hydranet referral code when registering: 1jfE4
https://mexc.com/register?inviteCode=1jfE4


Hydranet - HDN now live on MEXC



Dear HydraLords 🐍 🎩
as of now, HDN has been activated for trading on MEXC!
https://www.mexc.com/exchange/HDN_USDT

We greatly appreciate your support through your recent bond purchases, and we'd like to invite you to further support our team
by using our official MEXC referral code: 1jfE4

👉  https://mexc.com/register?inviteCode=1jfE4 👈

Every bit of support means the world to us!
Thank you for being a part of the Hydranet community!


Hydranet - Volume and Liquidity

In the past 24 hours, HDN has already demonstrated an impressive impact on MEXC, achieving over 340,000 USDT in trading volume.
Moreover, the total trading volume for $HDN in the last 24 hours has already reached over half a million USDT. Those numbers will soon be mirrored on CoinMarketCap and CoinGecko as well.

This is a significant step forward for us, paving the way for potential listings on even more prominent exchanges. If you're as passionate about our project as we are and wish to support our progress, we invite you to deposit a small amount and engage in some HDN trades 💸👍
https://www.mexc.com/exchange/HDN_USDT
This could be an excellent opportunity to sharpen your trading skills, as we will be hosting a few #trading #contests in the near future.

However, you should only hold funds on exchanges with which you intend to trade.

Thank you for your ongoing support, and stay tuned for more updates! 🔥


Hydranet - Weekly Update #82




Core DEX
- Preparing to release grid bot code to the public
- Patched multiple bug bounty reports
- Discussing increase of DEX rental limits

Web Wallet
- Started Channel UI development
- Orderbook research continues

Tokenomics
- Provide more info regarding estimated costs to provide different services
- We fixed community - reported bond issues: security audit has been updated accordingly https://sourcehat.com/audits/HydranetBondage/
- Will start finetuning tokenomics simulator UI this week

Governance
- Started research on reputation system (more info to come)

Lithium
- Started gas optimization of Lithium contracts

Marketing / PR
- DAO homepage/forum soon to be completed
- The Dao stat page is being fine-tuned
- HDN got listed on MEXC, you can sign up here https://mexc.com/register?inviteCode=1jfE4


Hydranet - Monthly DAO Financial Update
October 2023 operational expenses:

- 245,000 HDN & 2550 USDT: Dex development, RnD 
- 150,000 HDN & 2800 USDT: UI/UX upgrades, backend testing 
- 177,000 HDN & 500 USDT: Project management and development, business plan, compliance, DAO finance organization. 
- 82,500 HDN: & Content Creation, Terms and conditions, marketing management, project support. 
- 1,500 HDN: Community Support

Note: The reason for the higher USDT expenses this month is due to the multi-sig owed devs stables for the last two months, so the expenses equal the last month's missing expenses.


Hydranet - Monthly Recap #18



With almost one public announcement per day throughout the month of October, it’s hard to deny that this month has indeed been exciting!
We have witnessed the Web DEX being announced, a new roadmap being proposed, a new exchange listing, and a flurry of other updates leaving us desperate for more.
Let’s take a closer look at what this month had to offer in this monthly recap!

https://medium.com/hydranet/hydranet-monthly-update-18-october-2023-6a457217e3dd


Hydranet - Weekly Update #83


Twitter: https://twitter.com/TheHydranet/status/1721622786903269793?s=20


CoreDEX
- Channel Rental and Orderbook limitations will be raised to $1000
- Fixed wallet issues with scaling, transactions and more, new version soon to be released
- LSSD got more fixes, but not final yet
- Stats API finalized and moved to the implementation phase

The new limitations are a whopping 10x increase in comparison to the current state!

WebDEX
- Continued work on WebWallet frontend
- Continued research on orderbook rewrite

Lithium Network
- Working on gas optimization

Tokenomics
- Started research on possible Titan/Guardian supply and distribution

Governance
- Reputation system code is being implemented and improved

MultiSig
We've made some changes to the Multisig team. @mcfinity and @onedeveloper  have stepped down, we instead welcome @smurf.hdn  and @mumblerdev as their replacements. While Onedev is no longer part of the team, he will continue to be a valued member of the Hydranet community. We extend our gratitude to Mcfinity and Onedev for their contributions.

McFinity will still be part of the team, managing social media.

Marketing
- We were invited to the first, but not last X Space by Siva, who are interested in using our DEX technology. Find the whole space episode here:
https://twitter.com/i/spaces/1eaJbgkkLMRxX?s=20 (Hydranet gets introduced at the exact 1:00:00 mark)
- Released our Monthly Recap:
https://medium.com/hydranet/hydranet-monthly-update-18-october-2023-6a457217e3dd
- Started preparing a community member-run group for guerrilla tactics


Hydranet - HDN 1M Trading Volume



Twitter: https://x.com/TheHydranet/status/1722985391899205814?s=20


What many may have dismissed as unthinkable just a few weeks ago, became a reality today.
Hydranet HDN has just broken through the important 1M Volume Mark, proving itself to be a top performer in the Arbitrum Network.

Thanks to all our loyal HydraLords for celebrating this important milestone with us today. 🐍🎩🥳

Stay tuned, because Hydranet is just getting started! ❤️





Hydranet - Community Marketing

We're excited to announce the launch of a new TG group dedicated to special social media events, where your engagement will be a vital part of.
That's why we hereby invite all community members who are eager to contribute to this group and the ideas we aim to pursue.

Our dedicated team will oversee event-related activities, as we reach a stage where proactive social media usage will be crucial to enhance Hydranet's reach and visibility!
The Telegram channel is now live here:
https://t.me/+KroKVFs-jSgzYmU0

We would love to have you join us in this special project! ❤️


Hydranet - Core DEX Update


Twitter: https://x.com/TheHydranet/status/1723648986463043776?s=20


One of the biggest DEX updates since its release has just been published:

- Various UI updates
- Fixed edge case issue with the corrupted local transaction database
- Last but not least: a 10x increase in trading and channel rental limits!

Download the DEX today and give it a try:
https://hydranet.ai/download



Hydranet - Weekly Update #84


Twitter: https://x.com/TheHydranet/status/1724169239664144619?s=20

Core DEX
Released new DEX version with 1k limits (10x increase)
https://hydranet.ai/download 👈
No major issues found during extended testing
2nd grid bot is being setup for orderbook population
Stats page more or less complete, first version will be shipped to beta testers

Web Wallet
Added transactions notifications
Improved end-to-end testing
Continued with mobile UI of web wallet and its tabs

Tokenomics
Backend of HDN Tokenomics simulator page has been refactored

Marketing / PR
Scam Discord link was removed from CMC
Fee/Cost calculator to showcase the bridge usecase of Hydranet technology is in development
Community Guerrilla Marketing TG Group established
Join here: https://t.me/+KroKVFs-jSgzYmU0 😉

HDN broke 1 Million USD daily trading volume for the first time! Thanks to everyone who is supporting the DAO!



Hydranet - Stats Page Completed


https://twitter.com/i/status/1725146632876851538

Dear HydraLords,
Exciting news awaits! After weeks of dedicated work, we are thrilled to announce the upcoming launch of the Hydranet DEX Stats Page.

This innovative platform has been meticulously crafted to provide you with a comprehensive overview of various crucial aspects, empowering you to make informed decisions within the Hydranet ecosystem and track the performance of your favorite DEX.
You will be able to monitor real-time and historic metrics such as volume, trades, fees, and more.

We are committed to continuous improvement, and we believe the stats page will become a valuable tool for both seasoned traders and newcomers alike, enhancing the overall Hydranet experience within our great community and beyond.

The stats page will initially be deployed to our closed beta group and, once cleared, be revealed to the public eye.
Get ready to see Hydranet elevated with data-driven precision. The future of decentralized trading is just a click away:




Hydranet - Stats Page Published




After a brief closed test phase, we're happy to announce that our DEX Stats Page has been implemented into our website and is now publicly available.

The stats page enables you to monitor and track the performance and core metrics of the Hydranet DEX.

https://stats.hydranet.ai/




Hydranet - Weekly Update 85


Twitter: https://x.com/TheHydranet/status/1726701613358665780?s=20

CoreDEX
- #HDN pricing bug fixed
- Newly reported bugs are being fixed in the next weeks
- Continued working on public LSSD/API preparations

WebWallet
- Backend refactoring in progress
- Channel table & mobile channel cards in development

Tokenomics
- Tokenomics Version 1.5 in review state
- Tokenomics simulator was improved
- Reputation System Simulation in progress, visualization complete
- Validating mathematical model and code implementation

Marketing
- Hydranet #Litepaper in review state
- Preparing holiday #Contest
- Released #DEX stats page: https://stats.hydranet.ai

Dear DAO: As we are working on an updated Tokenomics version, we need a striking term for #Lithium channel rental liquidity providers. What do you suggest?


Hydranet - AMA

Join us on December 7th at 2 pm EST for a unique AMA hosted by WoAS, featuring Hydranet and SIVA

This exciting session, led by the energetic Necksus, will spotlight the advanced capabilities of Hydranet's #DEX and SIVAs's engage-to-earn platform.
We will dive into Hydranet's innovative #WebDex and its enhanced features and capabilities, aimed to pave the way for versatile integrations and improved user experience.
Concurrently, SIVA will share insights into their plans for leveraging Hydranet's API, aiming to integrate these powerful features into their engage-to-earn ecosystem to create a more streamlined and secure blockchain experience over many social media platforms. 

This collaboration highlights the mutual benefits of #API integration, emphasizing how both teams can enhance each other's platforms, offering users a more efficient and versatile experience.
The session also aims to explore the future of blockchain transactions, simplifying complex operations and unlocking new possibilities in the blockchain space. 

Your participation is key, as your questions and insights will contribute to shaping the future of blockchain technology and its diverse applications.
Mark your Discord calendars and select "Interested" to be notified and be part of this exciting journey into the world of advanced blockchain integration! 

Wolves Of Alt Street Discord invite link:
https://discord.gg/wolvesofaltstreet

AMA Discord invite link: 
https://discord.com/events/805453662746968064/1176299836660785245


Hydranet - Weekly Update #86


Twitter: https://x.com/TheHydranet/status/1729251988288720956?s=20
 
CoreDEX
- BTC Market Maker deployed
- Working on implementing and enhancing LSSD & Bots

WebDEX
- Mobile Channel Cards successfully deployed
- BTC offchain payment and invoice is being implemented
- Mock nodes in progress

Tokenomics
- Advanced tokenomics update ready for publication
- Further short term project plans are being finalized

Marketing
- Christmas contest in preparation
- Preparing Monthly Recap

Hydranet Foundation
- Foundation ETA has internally been specified, you will soon be updated accordingly

[moderator's note: consecutive posts merged]

[tajimas]

This sounds absolutely sick, really wonder why I haven't heard of this before.

When was the project started, and did they do an ICO of some sort?

I'm just wondering to be seeing this project the first time, "DEX connecting BTC to ETH" is really a unique one if actually the dream can come through. Are you guys planning to integrating defi on BTC network just as Mintlayer is doing on the Bitcoin network, does your dex serve as a bridge that allows the movement of assets between BTC and eth.

[Hydranet HDN]

This sounds absolutely sick, really wonder why I haven't heard of this before.

When was the project started, and did they do an ICO of some sort?

I'm just wondering to be seeing this project the first time, "DEX connecting BTC to ETH" is really a unique one if actually the dream can come through. Are you guys planning to integrating defi on BTC network just as Mintlayer is doing on the Bitcoin network, does your dex serve as a bridge that allows the movement of assets between BTC and eth.

We're pleased to update you: The Hydranet CoreDEX is already fully functional and publicly available on https://hydranet.ai/download for Windows and Linux
It enables you to swap and trade BTC directly against ETH


Hydranet - Tokenomics Update



Over the past few months, our team has dedicated substantial effort and time to maturing our project's tokenomics. We are excited to share that we have now completed a carefully crafted Tokenomics Update Proposal for public discussion.
These advanced tokenomics reflect our commitment to developing a robust and thoughtful framework for the project's future economic aspects, highlighting the use cases of our HDN token in collaboration with the Hydranet DEX Network and its peripherals.

In this context, we're thrilled to also announce the first iteration of our Hydranet Tokenomics Calculator, which will be released in the coming days.
This powerful tool will allow you to simulate various scenarios, based on different parameters and conditions.

Tokenomics Update Summary:
- Added Titans (Hubs)
- Added Guardians (Watchtowers and further monitoring services)
- Added Lithium Channel Rental Liquidity Providers (LLPs)
- Temporarily removed DEX NFTs

You can read the proposed updated tokenomics here:
https://docsend.com/view/avpavh2qrcs2n67t

Please let us know your questions, ideas or concerns!
https://discord.com/channels/374568694690611202/1178670890490265631

After public discussions and potential adjustments, a Hydranet DAO vote will be conducted to officially vote in the updated Tokenomics.
Current tokenomics can be found here:
https://hydranet.ai/en/tokenomics

[moderator's note: consecutive posts merged]

[jerryskies]

We're pleased to update you: The Hydranet CoreDEX is already fully functional and publicly available on https://hydranet.ai/download for Windows and Linux

Dear HydraLords,

I am curious, what is the latest version of Hydranet CoreDEX for linux? Some still seems to be on 8.1.14...

Btw, xcb or wayland? Contrary to some places, I guess, those forum's users will requires more settings to optimize their experience of lightning speed trading... 

Finally, how can someone make a proposal to the DAO? I would like to propose the creation of our own forum, I prefer this way of displaying information. I find it way more interactive and practical.

[Hydranet HDN]

Hydranet - DAO Proposal
Twitter: https://x.com/TheHydranet/status/1730620413506470192?s=20

Tokenomics v1.5 proposal 25:
DAO Approval for updated version of Tokenomics


Vote is now live

Please support the updated version of the Hydranet DAO tokenomics. Voting will last for 5 days.
You can view it now at https://snapshot.org/#/hydranet.eth/proposal/0xd355a01099029f5ff9652dd69511d0f983df5913e178437753205ad20bcd75a9

Tokenomics v1.5 : https://docsend.com/view/sv2pfz8s8434pe9s



Hydranet - 24 Days of Dexember Contest


Twitter: https://x.com/TheHydranet/status/1730623555698675834?s=20

Dear SantaLords,
In line with our cherished Hydranet tradition, we are excited to announce the return of our annual festive 24-Days-Of-Dexember Christmas Contest.

Each day, one fortunate participant will receive 1000 HDN, leading up to an exceptional Superdraw on the horizon, where a remarkable 10,000 HDN awaits the fortunate winner on #Christmas Eve

In order to participate, you have to follow a few easy rules:
- Follow our official Twitter-Account https://twitter.com/TheHydranet
- Join our official Telegram-Group https://t.me/hydranetofficial
- Comment, Like and Quote our daily 24 Days of Dexember post with the daily Hydranet Phrase you find on the affiliated banner

Find all the rules here: https://hydranet.ai/24-days-contests

Stay tuned, follow our social media and good luck, everyone



Hydranet - Monthly DAO Update

Hydranet November 2023 operational expenses:
- 245,000 HDN & 2550 USDT: Dex development, RnD
- 150,000 HDN & 2800 USDT: UI/UX upgrades, backend testing
- 197,000 HDN & 500 USDT: Project management and development, business plan, compliance, DAO finance organization.
- 82,500 HDN: Content Creation, marketing management, project support.
- 1,500 HDN: Community Support

DAO Financial Update:
All HDN rates will be adjusted to USD prices from now on, to ensure the longevity of the DAO treasury.

DAO Organizational Update:
The DAO has seen staff changes this month as 2 multi-sig members have been offboarded, namely McFinity and Onedeveloper.
We thank them both for their contributions in the multi-sig this far, with special recognition for Onedev who is stepping down as a team member.
McFinity's will continue as usual with other team duties.

In their place, we welcome 3 new members:
T-Rex, Smurf and brand new team member iPally to the Multi-Sig!

Read about these changes and more in the Hydranet November Recap:
https://medium.com/hydranet/hydranet-monthly-recap-19-november-2023-e828718e23f8


Hydranet - Weekly Update #87


Twitter: https://x.com/TheHydranet/status/1731775638854414437?s=20

Core DEX
- Devs continued improving LSSD
- Swap rate stability has been increased
- Minor bug in Vortex/LND has been identified

Web Wallet
- Sending/Receiving BTC via invoices completed
- Improving notifications
- Researching various decentralized data providers

Lithium
- Continued further gas/fee optimization

Tokenomics
- Tokenomics Simulator might come in two versions (basic / advanced)
- ELO reputation system under final review
- Tokenomics V. 1.5 was published for review and public discussion: https://docsend.com/view/avpavh2qrcs2n67t
- Tokenomics DAO vote is live, please make sure to cast your vote: https://snapshot.org/#/hydranet.eth/proposal/0xd355a01099029f5ff9652dd69511d0f983df5913e178437753205ad20bcd75a9

MultiSig / Foundation
- New internal payment system is being rolled out
- Foundation documents have been submitted
- Monthly DAO Update has been released

Bridge Comparison Tool
- Started development

Marketing
- AMA (WoAS / SIVA) in 3 days, make sure to join! Discord-Link: https://discord.com/events/805453662746968064/1176299836660785245
- 24-Days-Of-Dexember Contest is live, 3 winners have already been paid! You can participate here: https://x.com/TheHydranet/status/1730623555698675834?s=20


Hydranet - Tokenomics v1.5 proposal #25  |  Voting results

The DAO Tokenomics update vote has just ended and was unanimously approved by the voters.

YES 13M HDN = 100%
NO  0 HDN = 0%

You can verify the results here:
https://snapshot.org/#/hydranet.eth/proposal/0xd355a01099029f5ff9652dd69511d0f983df5913e178437753205ad20bcd75a9

Following the vote, the team will use our updated tokenomics to guide future advances within the Hydranet network.

More details and progress updates on each item will be published as they happen


The Hydranet DAO Elo System:
Now that the DAO has approved the tokenomics update, we are excited to bring the Hydranet Elo system up for discussion with the community.
The proposed Elo ranking system is designed to improve decentralized decision-making regarding DAO leadership, Titan / Guardian waitlisting, proposal submissions and more.
The main goal is to decentralize as much as possible while at the same time reducing team liability. Who gets to run the first Titians and Guardians? How do we minimize spam proposals without being a centralized authority?
How do we keep track of who is next in line to run network services if a user is slashed from the network due to not meeting the requirement? Thankfully, we have some large, wrinkly brains working here.

The Elo system grants users a merit ranking weight in the DAO, if they have proven to contribute over time and by acting in the project's best interest.
This implies that users who just recently bought a large amount of tokens will not by default gain unjust advantages. The system will reward DAO members with a proven commitment to push the DAO in the right direction.

Furthermore, your project leaders should be able to show their commitment as well.
Publicly visible Elo scores will give the community peace of mind, and knowing that the DAO representatives are leading by example will only increase trust.

The DAO Forum:
We are currently creating a DAO forum off of our official webpage where all this information will come together.
User profiles backed by your address will connect to proposal submissions, Elo scores, reviews, and more.
We are building the Hydranet ecosystem and doing our best to make it as fair, safe and decentralized as possible.

Join the discussion here:
https://discord.gg/hydranet⁠ / ♟・hydranet-elo-discussion


Hydranet - Weekly Update #88


Twitter: https://x.com/TheHydranet/status/1734352436884537574?s=20

Core DEX
- LSSD in final testing phase, trading/swapping very stable
- We will provide more info here in the next days. Stay tuned!

Web DEX
- BTC invoice send/receive complete
- Proxy Server for explorer API and Websocket being implemented
- Continued with Orderbook API and architecture planning

Tokenomics
- ELO system halted for now after community concerns regarding complexity and to keep the focus on the upcoming products
- Work on Hydranet DAO Forum continued
- Tokenomics 1.5 successfully voted in and added to website: https://hydranet.ai/en/tokenomics

Marketing
- SIVA & WoAS AMA:  https://youtu.be/aKkNIud2Ttc
- Litepaper almost complete, waiting for gas optimization calculations and final design to be implemented
- New influencers are being onboarded


Hydranet Core DEX LSSD (API) Update

Twitter: https://x.com/TheHydranet/status/1734900575395840048?s=20


The Hydranet Core DEX has been released, working with chains such as Bitcoin, Ethereum, and Arbitrum, and has effectively shown that we can bridge these chains in a seamless way.
For our Core DEX to become even more accessible, we are working on an API that will allow users to automate their trading to a greater extent.

Since the Hydranet Core DEX needs to be online to keep limit orders up, we are working on a headless (no graphic user interface) version that can run on servers, virtual machines and as docker containers.

This headless version is called LSSD (lightning swap service deamon) and provides an interface with which you can interact with the Hydranet DEX orderbook and place limit and market orders.
Combining this with a trading bot allows you to automate you trading using a strategy of your choice.
With the release of the LSSD, we will provide a reference implementation for how a trading bot can look like and be set up, using the Core DEX LSSD.

Keep in mind that there could be some functionality still missing, some of which are being worked on right now, for instance, features related to channel interactions.
With that being said, we would also like to highlight that we already have a working version operated by the DAO to provide liquidity on the Hydranet DEX orderbook.

Closed beta testers might be able to test it already next week - stay tuned!

[moderator's note: consecutive posts merged]

[yurez]

I recommend this interesting video "Thorchain Dex vs. Hydranet Dex"
Thorchain Dex vs Hydranet Dex. Native Bitcoin trading and transaction fees. https://www.youtube.com/watch?v=8SJsAUx-hJA

[Hydranet HDN]

Hydranet - Weekly Update #89


Twitter: https://x.com/TheHydranet/status/1736868547005923665?s=20

Core DEX
- Surpassed 1 Million USD trading volume!
- Planning to release LSSD this week to closed beta testers, stay tuned

Although a significant portion of this trading volume is attributed to our market maker bot, it serves as compelling evidence that our product is working as intended,
with the bot achieving a close-to-100% trading success rate. For more DEX stats see https://stats.hydranet.ai/
Web Wallet
- Bitcoin off-chain send/receive completed
- Bitcoin invoices sent via multi-hop through the hub
- Started working on Lightning external signer

More news regarding Web Wallet is expected to be released this week.

Web DEX Orderbook
- Improving oversight for components and backend connections
- Redefined structure and order flow

Lithium
- New gas optimizations and refactoring are almost complete
- It is planned to release final numbers and comparison to current Connext Vector contracts.

Tokenomics
- Refactoring current simulator code
- Work on updated tokenomics simulator / calculator is almost done, will be released to closed beta this week.

Multisig
- Foundation setup should be complete for January 2024 - paperwork is cleared according to legal counsel

Marketing
- WebWallet release campaign is being prepared
- 24-Days-Of-Dexember is still live, don't forget to take your chances!
https://x.com/TheHydranet/status/1736060527309144167?s=20


Hydranet Foundation Update

Dear Hydranet Community,
We are thrilled to share some exciting developments regarding the Hydranet ecosystem.
The Hydranet Foundation, a critical milestone in our journey, has been officially established in the Cayman Islands under the name Hydranet Off-Chain LTC.
This legal entity will serve as a protective shield for the Hydranet DAO, reinforcing our commitment to transparency, trust, and the future of our community.

One of the key highlights of this foundation is the implementation of multi-signature wallets. We have chosen to disclose the identities behind these multi-sigs to the foundation,
emphasizing our dedication to community trust. These representatives will act on behalf of the Hydranet DAO, ensuring that the best interests of our community are at the forefront of our decision-making processes.

This monumental step forward will enable us to establish ourselves as a legitimate player in the ever-evolving cryptocurrency landscape.
We are eager to continue pushing the boundaries of our community and delivering cutting-edge products to the crypto sphere.


Twitter: https://x.com/TheHydranet/status/1737481396233331156?s=20


Hydranet - VC Collaboration Update

After our recent DEX launch and continuous project growth, we're thrilled to share some exciting news about potential VC investors.
We're currently in talks with multiple prominent investors, and their interest could greatly strengthen our long-term presence and speed up our development.

Stay tuned for more details once we finalize agreements, and rest assured that Hydranet DAO will guide our decisions moving forward.
Twitter: https://x.com/TheHydranet/status/1737512790087082308?s=20


Hydranet - Weekly Update #90


Twitter: https://x.com/TheHydranet/status/1740386888643482071?s=20


Core DEX:
- The LSSD will be deployed to the first closed beta testers today!

Web Wallet:
- This week, the Alpha Version of the #WebWallet (testnet) will be released to the Hydranet team. Depending on successful team tests, a gradual release to the public will be prepared
- In an effort to enhance #WebDEX backend development, Hydranet is welcoming a new full-time #developer on board. Further details will be provided in mid-January 2024

Hydranet DAO:
- The Hydranet #Foundation is now officially established
- To ensure longevity and future growth, negotiations with several venture capitalists have been initiated
- iPally, with a robust background in traditional finances, will be succeeding Beljora at Multsisig

Tokenomics:
- The Simulator page is undergoing final fine-tuning

Litepaper:
- Once the final review is approved by all members, the Hydranet #Litepaper will be officially released Marketing/PR:
- Christmas Twitter activities have been completed
- Our yearly Recap article will be unveiled around New Year

As the majority of our developers and team members are currently taking a well-deserved break, spending time with their families,
or wrapping up roadmap goals, we will resume regular Weekly Updates on Monday, January 8th, 2024


Hydranet - DEX API Alpha release (closed beta)


Twitter: https://x.com/TheHydranet/status/1740453137255715184?s=20

Although it has been quiet around the Hydranet CoreDEX lately, the team has been anything but idle:
We are proud to finally release the #LSSD to the very first batch of closed beta testers! 🐍🎩

The LSSD (Lightning Simple Swap Daemon) encapsulates the complete offchain atomic swap logic in a lightweight and headless way to interact with our orderbook and execute swaps.
Using the LSSD, one can build bots or even their own wallet to connect to our network. It offers a GRPC / Protobuf-based #API that allows renting inbound channel liquidity, listing and subscribing to orders,
and placing market and limit orders on the Hydranet #DEX. To execute the swaps, the LSSD connects to a #Bitcoin #Lightning LND node and a Connext Vector Node and utilizes their wallet implementations.

We have packaged and published our LSSD, LND and Vector in a turn-key docker-compose setup, that makes setting it up an easy task.
This is already past testnet stage and selected users will now receive access to API keys for Mainnet. Once stabilized it will be released to the general public!

One third party will be involved right from the beginning, and one additional market maker service will also evaluate once LSSD reaches beta stage.

Instructions are public on Github (API Keys required):
https://github.com/hydra-net/hydranet-lssd


Hydranet - DAO Proposal Vote #26

Hydranet Improvement Proposal:
Changing our funding mechanisms regarding bonds

Proposal ID: 26
Proposed by: Hydranet Multi-sig
Date: January 1st, 2024 @ 10pm UTC

Summary:
This proposal addresses the future of fundraising within the Hydranet DAO, specifically focusing on the transition from selling bonds to a new mechanism involving the disbursement of HDN tokens to a multi-sig-controlled address for grants and funding operations.

Background and Current Situation:
1.1 The DAO currently raises funds by selling bonds to the community, excluding United States citizens.
1.2 This mechanism was inherited from HDX and its OHM fork, HDN made adaptations for our custom bonds.

Legal Implications and Risks:
2.1 Recent legal counsel has indicated that continuing with bond sales could classify our token as a security, subjecting us to stringent regulations.
2.2 Operating as a security token could limit our market reach and impose additional compliance burdens.

Proposed Alternative:
3.1 Instead of using bonds, the DAO will vote for the disbursement of 5 million HDN tokens at a time.
3.2 These tokens will be transferred to a multi-sig-controlled address.

Use of Funds:
4.1 The multi-sig-controlled address will use these tokens to grant funds for operational purposes.
4.2 This approach aims to maintain flexibility and avoid the regulatory complexities associated with security tokens.

Benefits of the Proposed Approach:
5.1 Avoids the risk of being classified as a security token. 5.2 Ensures greater control and flexibility in fund allocation. 5.3 Aligns with legal advice to safeguard the DAO's interests.

Action Items:
6.1 Review the proposal in detail.
6.2 Engage in discussions to understand the implications and benefits.
6.3 Cast your vote on the proposed transition.

Voting Period:
7.1 January 1st to January 5th, 2024 
Additional Information: This transition represents a strategic shift in our fundraising approach, aligning with legal advice and ensuring the long-term sustainability of the DAO.

Members are encouraged to consider the long-term implications of this decision on the DAO's operations and market presence.

Please support the updated version of the Hydranet DAO tokenomics.
Voting will last for 5 days. 
You can cast your vote here:
https://snapshot.org/#/hydranet.eth/proposal/0x9a6210aaca0d512c362cdd560d69df9e3f59fb76e9e130a3e10357690e8bb3c0


HDN Tokenomics Simulator
Twitter: https://x.com/TheHydranet/status/1742172180413046965?s=20

In the past weeks we have been working on a visual tool that will allow users to simulate a broad spectrum of HDN Tokenomics scenarios, both general and personalized.
The simulator is designed to enhance understanding of the dynamics and interactions among various components as outlined in the latest $HDN Tokenomics 1.5.
We're excited to present two distinctive features:

Network Simulation:
This advanced tool allows users to conduct small-scale experiments to test how specific conditions affect the Hydranet ecosystem. You can create hypothetical scenarios and analyze the potential impacts on different stakeholders within the network.

Personal Calculator:
The personal feature enables you to estimate and calculate your potential future #rewards from operating a Hydranet #Titan (Hub) or #Guardian (Watchtower) within the network.

Preview: https://youtu.be/-fLf3uax6yE

Your feedback is an invaluable asset to us and will be essential for further developing this tool, so please feel free to test the simulator thoroughly and make sure to provide your feedback!
Please note that both the Network Simulation and Personal #Calculator are still in development, and we anticipate releasing further updates in the future.

Check it out for yourself here: https://simulator.hydranet.ai

The latest Tokenomics can be found here: https://hydranet.ai/en/tokenomics
Important Note: The simulator page is for experimental purposes only, predictions cannot be guaranteed

[moderator's note: consecutive posts merged]

[deepblue01]

As coinmarketcap said the HDN token move to new contract with Admin Upgradeability Proxy
Do we need to download this?or  can we just login on website?

[Hydranet HDN]

Hydranet - Roadmap 2023 End Of Year Update


Twitter: https://x.com/TheHydranet/status/1743308322575393163?s=20

The following goals have been mostly achieved:
- MARKETING AND PR
- HDN TOKEN
- RESEARCH AND DEVELOPMENT
- ORGANIZATION
- CORE DEX
- OPEN SOURCING (CORE DEX)
- HYDRANET WEB WALLET
- HYDRANET WEB DEX

Still in progress:
- Organization: Litepaper, will be released in the next days

What has been changed:
- Lithium: switched the goals of Q4 2023 with Q1 2024 as we wanted to have the gas optimizations earlier
- Research and development: NEW: working on a visual cost analysis for bridging usecase of Web DEX
- Marketing & PR: trading competitions, will take place at Q1 2024
- Core DEX: New Core DEX pairs, will be added in Q1 2024

The update is already being reflected here: https://hydranet.ai/en/roadmap


Hydranet - Weekly Update #91


Twitter: https://x.com/TheHydranet/status/1744456786801786934?s=20


Core DEX
- released LSSD, tests working well so far https://github.com/hydra-net/hydranet-lssd…
- preparing to release a Core DEX bot reference implementation in January, so everyone can run his own Core DEX bot
- Core DEX continues to run very stable

Web Wallet
- released Alpha version (testnet) to team
- reported bugs being fixed
- feature requests are being implemented
- started optimization for mobile usage
- will start preparations for limited closed beta release after these tasks are done

Team update:
Adinael, a new full-time dev, is currently onboarded, he will work on the Web DEX orderbook. This will increase future development speed by a lot, to make the revolutionary Web DEX even sooner a reality.

Tokenomics
- released https://simulator.hydranet.ai
- will start researching DEX revenue distribution for Titans, Guardians, Treasury, and Strategic Liquidity

DAO
- DAO vote 26 has been successful https://snapshot.org/#/hydranet.eth/proposal/0x9a6210aaca0d512c362cdd560d69df9e3f59fb76e9e130a3e10357690e8bb3c0…
- contacted more VCs

Marketing / PR
- released yearly Recap https://medium.com/hydranet/hydranet-yearly-recap-2023-caf2c57a0d9b… -

Updated the Roadmap according to achieved goals in 2023, see https://hydranet.ai/en/roadmap

This update covers all activities since the last update. As announced, we will now resume with our regular weekly updates.


Hydranet - Weekly Update #92



Twitter: https://x.com/TheHydranet/status/1747367591604076886?s=20


Core DEX:
- Fixed various small #LSSD and orderbook issues
- LSSD testing will continue this week, if there are no new bugs, release to public afterward
- Continued working on the grid #bot, will be released to closed beta testers this week
- Started research on how to make Vector #cheaper and faster

The combination of LSSD + #trading bots will enable everyone to provide #liquidity and trading volume at the Core #DEX.

Web wallet:
- Finished bug fixing mostly
- Continued UI revamp for better mobile UX
- Started working on external signer

The external signer is a crucial part of the Web Wallet and DEX, as it will allow #BTC📷 payments for trading from a web wallet - a world's first.

Lithium:
- Finished latest gas optimizations simulations for #Lithium, overall work should be done this week

Tokenomics
- Started breaking down all relevant actors to determine a possible $HDN security collateral

Marketing/PR
- Hydranet #Litepaper will be released this week - thanks for your patience!
- Started drafting a bigger marketing plan for the next weeks/months


Hydranet - DAO Proposal #27
Proposal:Hydranet Multi-Sig Re-Election and Responsibilities
Proposal ID: 27
Proposed by: Hydranet Multi-Sig
Date: January 16th, 2024 @ pm UTC

Summary:
This proposal is for the re-election of the Hydranet multi-sig members, outlining their individual responsibilities. The DAO community is invited to participate in the voting process to re-elect the multi-sig representatives.

Background and Current Situation:
1.1 The multi-sig members play a crucial role in the governance and operational security of the Hydranet DAO.
1.2 Regular re-elections ensure that the DAO continues to be represented by members who have the community's trust and support.

Legal Implications and Risks:
2.1 The multi-sig members are responsible for key decisions and the security of DAO assets.
2.2 Community participation in this election is vital for maintaining a transparent and democratic governance process.
2.3 Current multi-sig are doxed to the foundation, and any future multi-sig will be required to do the same.

Proposed Representatives:
3.1 The following individuals are nominated for the multi-sig positions, with their respective Ethereum addresses and outlined responsibilities:

T-Яex: 0x6541765f07987716A3D5b0808780439b5d08427D Content creator, front-end support

Smurf: 0x38F18239331Bf4AC8624396820360139c7008D19 Content creator, outreach, foundation books, finance, admin & org support.

iPally: 0x17A96132aaE18Dd976840Ad6897944817d460594 Financial/Organization advisor.

Nicklas: 0xb553c994EB5E98E643BDbAAa806C15E391C911b8 Finance, Admin & org support, POL support.

Tombowl: 0x3bAc9962665bEc7292834ace30bcc640E4E95a97 Outreach, marketing

Walleye: 0x5B6e889B05D5a23C8f1E19Ed9E54B4f03dF01c51 Multisig lead, legal, POL management, finance, admin & org

Voting:
4.1 Each DAO member will have the opportunity to vote for the multi-sig members.
4.2 The voting will be conducted through the DAO's standard voting process.

Benefits of the Proposed Approach:
5.1 The multi-sig members are crucial for the future direction and governance of the Hydranet DAO. 5.2 All DAO members should exercise their right to vote and contribute to this important decision.

Action Items:
6.1 Review the nominees and their contributions to the DAO.
6.2 Engage in discussions about the nominees if needed.
6.3 Cast your vote during the voting period.

Voting Period:
7.1 The voting will commence on January 16th, 2024, at pm UTC and will end on January 21st, 2024 @ pm UTC.

https://snapshot.org/#/hydranet.eth/proposal/0x771426ec35dfb2b551c328a7077a40e6a16972fe99efadc7340c97b0fc369d37


Hydranet - Litepaper

Dear Hydranet!
We are thrilled to publish the Hydranet Litepaper, an invaluable asset for engaging with our diverse stakeholders.
Whether you're a valued community member, VC, external project or centralized exchange, this document serves as a beacon of information about our ongoing efforts.

Within these pages, you'll find the results of our initial round of gas optimizations made on the Lithium protocol
and we sincerely appreciate your patience as we conducted the final checks of these results before sharing them.

https://hydranet.ai/Hydranet-Litepaper.pdf

Stay tuned for more updates as we continue to advance and spread the word about our groundbreaking project!


Hydranet - Weekly Update #93



Twitter: https://x.com/TheHydranet/status/1749528610799596013?s=20

Core DEX
- #LSSD tests going great, the general update will follow soon
- Once LSSD is stable, the refer cent #bot will be rolled out to testers

New pairs will be added once this is done!

Web Wallet
- All (internally) reported bugs have been resolved
- Refactoring of modals is in progress
- Continued external #lightning signer work
- Onboarding of new dev (Adinael) has been completed and has proven to be very successful. It's great to have him onboard!
- Pricing #API should be ready for dev review this week, then get implemented in the wallet

Lithium
- Gas optimizations have been completed
- #Lithium is now ready to be implemented into the #WebWallet

Tokenomics
- Role descriptions have been updated
- Collaterals and fee distribution are being drafted for upcoming team review

DAO
- Hydranet Improvement Proposal #27 was voted in:
https://snapshot.org/#/hydranet.eth/proposal/0x771426ec35dfb2b551c328a7077a40e6a16972fe99efadc7340c97b0fc369d37…

Marketing
- Hydranet #Litepaper has been published: https://hydranet.ai/Hydranet-Litepaper.pdf…
- Major 2024 marketing plan is being drafted and will soon be ready for team review


Hydranet - Monthly Recap #20

Dear Hydranet,



The first month of 2024 flew by, progressing us further on our journey. While the LSSD (Lightning Simple Swap Daemon), also known as the Core DEX API, was released to a closed testnet group, the Web Wallet underwent several updates based on team feedback. We were also delighted to welcome a new full-time developer who will play a pivotal role in advancing the Web DEX backend, along with the release of the Hydranet Litepaper.

Read about this and more in the January monthly recap. Your continued support fuels our momentum, and we look forward to sharing more milestones and innovations in the coming weeks and months.

https://medium.com/hydranet/hydranet-monthly-recap-20-january-2024-4a1189694357


Hydranet - Weekly Update #95



WebWallet
- Working on EVM Offchain modals (backend not implemented yet)
- Working on "Sending Modals"
- Started implementing price API
- Hydra Node API upgraded

We will have a call about the date of first closed beta release end of this week.

Lithium
- Working on subgraph indexer for Lithium

Tokenomics
- We will propose an initial fee distribution and HDN collaterals later this week
- Corresponding Article is being drafted

Marketing
- Article for bridge comparison is being drafted
- Professional Marketing agencies have been contacted
- Monthly Recap #20 has been published: https://medium.com/hydranet/hydranet-monthly-recap-20-january-2024-4a1189694357




Hydranet Web Wallet - Closed Beta Release Date
NOVA - 9th March 2024


Twitter: https://x.com/TheHydranet/status/1756742504693514610?s=20

We are very happy to announce the official release date of NOVA, Hydranet's first version of the Web Wallet!
This Web3 Wallet will enable our users to seamlessly interact with Bitcoin and various EVM assets within their browsers - entirely off-chain and without the necessity to download additional software!

The Web Wallet will be the heart of the upcoming Web DEX, providing users with full custody of their assets, both on and off-chain.
With just a single seedphrase, you will be able to control and back up all of your assets.

NOVA will include:
- Bitcoin on-chain & off-chain actions on Bitcoin Signet
- EVM on-chain actions on Ethereum Holesky testnet
- Wallet page
- Channel page
- Transactions page
- Settings
- Dark/light mode

NOVA will be made available for closed beta testers on March 9, 2024!
Stay tuned for more information, including the public release date! 🔥




Hydranet Tokenomics Research Update | Feb 2024


Twitter: https://x.com/TheHydranet/status/1757055826534019273?s=20

In the past weeks we have been working on a potential initial collateral for relevant actors (such as Titans and Guardians)
in the Hydranet DEX Network ecosystem and fee distribution for the HDN token.

It has been digested into the document linked at the bottom.
Please let us know your thoughts at here or on our Discord: https://discord.gg/hydranet

You can review it here: https://docsend.com/view/z98jspia6rw782p7


Hydranet Web Wallet - Public Release Date
NOVA - 29th March 2024


X/Twitter: https://x.com/TheHydranet/status/1757791650821066929?s=20

We are excited to announce the official release date of NOVA, the first iteration of Hydranet's next-gen WebWallet!
NOVA will enable users to seamlessly perform off-chain transactions - not only with Bitcoin but also various EVM tokens - directly from within their browsers,
without the need to download any additional client or software.
A single seed phrase will suffice to control and backup all your assets.

What does this early version of NOVA include? 👇
- Bitcoin on-chain & off-chain actions on the Bitcoin Signet
- EVM on-chain actions on the Ethereum Holesky testnet
- Wallet page: Manage your assets
- Channel page: Conduct off-chain transactions
- Transactions page: Track your transaction history
- Settings: Customize your preferences
- Dark/light mode: Choose your preferred theme

NOVA will be available to everyone on March 29th, 2024! 🔥

As a core component of the upcoming Hydranet WebDEX,
NOVA will ensure full custody of your funds and provide the most comfortable and convenient off-chain trading experience in the industry.

Stay tuned for further news!


Hydranet - Weekly Update #97


X/Twitter: https://x.com/TheHydranet/status/1759694490200158325?s=20

Core DEX
- #LSSD work has been completed
- Vortex bot undergoing final review with Fedeparma this week
- Optimal pair additions being investigated

Web Wallet
- Pricing API complete and being reviewed
- Continued work on channel rental manager

Web DEX
- Continued work on orderbook API

Tokenomics
- Tokenomics update will be published for DAO vote soon
- Implementation in network simulator is being scheduled accordingly
- DAO Forum is close to team review and release

Marketing
- Bridge comparison and article is being drafted
- Various activities are being planned - stay tuned!


Hydranet - NEW HDN LISTING


X/Twitter: https://x.com/TheHydranet/status/1760699746337907112?s=20

As part of our recently initiated growth campaign, we're thrilled to announce that HDN will soon be available for trading on XT.com!
This listing marks a significant milestone for Hydranet, providing $HDN a reliable gateway to a huge and well-established Asian market.
XT.com accommodates approximately 10 million active users and facilitates a monthly trading volume of around $1 billion.

XT will commence HDN trading on February 29th!

You can sign up here: https://xt.com/en/accounts/register?ref=SGX5BC

Stay tuned in the upcoming weeks for more exciting news and further listings on the horizon - maybe even sooner than you think!
https://youtu.be/LxiZumZb4Rs




Hydranet - NEW HDN LISTING #2


X/Twitter: https://x.com/TheHydranet/status/1760721412749177057?s=20

We're thrilled to announce that $HDN will soon join another exchange!
Toobit.com will mark our second listing of the day, offering a young, dynamic and user-friendly trading platform.

Known for its reputable team, sleek interface, and high professionalism, http://toobit.com/ is on the rise in the trading world.
With close to $1 billion in daily trading volume and over 5 million monthly visitors, it's constantly pushing for excellence and higher tiers.

As of February 29th, 2024, HDN will join the over 140 pairs that can be traded on Toobit.com!

Hydranet Referral Link: https://toobit.com/en-US/register?invite_code=eVFetj

https://www.youtube.com/watch?v=KwUlBOJVIEk

[moderator's note: consecutive posts merged]

[ololajulo]

I never followed this project but will take some times with it from now and will definitely put some money.  Am really impressed with exchange listing in top tier ones and presence on decentralized exchange. The moderator has also been consistent in the forum and we need to give him some support. I hope we get some engagements outside of here as well

[Hydranet HDN]

Hydranet - Tokenomics Proposal #29

Proposal: Update HDN Tokenomics - add HDN Collateral and Fee Distribution
Proposal ID: #29
Proposed by: Hydranet core team
Date: Feb 23, 2024 @ 07:00 pm UTC

Summary:
This proposal outlines updates to the Hydranet DEX Network, specifically focusing on the HDN collateral requirements and the distribution model for trading fees.
These updates aim to enhance the network's security, efficiency, and overall value proposition for HDN holders and users.

Details:
1- Background:
1.1 The Hydranet DEX Network has been started and will evolve, with continuous improvements based on community feedback and technological advancements.
1.2 Recent assessments indicate a need for HDN collateral requirements and fee distribution estimations for the future actors in the network (Titans, Guardians) to better align with the network's growth and sustainability goals.

2- Proposed Updates:
2.1 HDN Collateral Requirements:

Adjusting the HDN collateral requirements for network participants to ensure network security and incentivize participation.

2.2 Fee Distribution Model:

Updating the fee distribution model to provide a more equitable and sustainable revenue stream for network participants and HDN holders.

3- Objectives:
3.1 Enhance network security by ensuring adequate collateralization.
3.2 Increase the attractiveness of the Hydranet DEX Network for new and existing participants.
3.3 Ensure a fair and sustainable economic model that benefits all stakeholders.

4- Implementation Plan:
4.1 Upon approval, the proposed updates will be implemented in phases, with clear communication and guidelines provided to all network participants.

Advantages:
A- Strengthens the economic and security foundations of the Hydranet Network.
B- Encourages long-term participation in the network. C- Increases the overall value in the utility of the HDN token.

Disadvantages:
A- Potential for slight changes when the network is being built out.

Conclusion:
The proposed updates to the HDN collateral requirements and fee distribution model are designed to bolster the Hydranet DEX Network's long-term viability and success.
These changes are expected to benefit HDN holders, network participants, and the broader ecosystem.

Options:
The community has the following options:
1- Approve the proposed updates to the HDN collateral and fee distribution.
2- Reject the proposed updates and maintain the current models.

Copy of proposed Update to Hydranet DEX Network - HDN Collateral and Fee Distribution:
https://docsend.com/view/z98jspia6rw782p7

Voting Period:
The voting will commence on Feb 23, 2024 @ 07:00 pm pm UTC and will end on Feb 28, 2024 @ 07:00 pm UTC

Vote here: https://snapshot.org/#/hydranet.eth/proposal/0xf5e81fba4aef97188459bc010f633c884ccf4e6da52c1c1177f8bf07885e5860

Disclaimer:
The proposals and projections in this document are built upon estimations deemed reasonable at the time of writing and exist for discussion purposes.
The numbers are subject to change, depending on participation levels and other factors that can’t be known until the network is tested in practice.
As always, adjustments and tuning will most likely happen and need to be considered when reading. The information in this document is provided for informational purposes only.
You should not construe any such information as legal, tax, investment, trading, financial, or other advice.


Hydranet - Weekly Update #98


X/Twitter: https://x.com/TheHydranet/status/1762234614645473707?s=20

CoreDEX
- Implementation of new pairs has begun
- LSSD and Vortex Bot are being combined
- Toobit bots already functional, will be launched after proper testing

WebWallet
- WebWallet closed beta release preparation is on track (March 9th)
- Pricing API and more modals have been completed, will now be merged
- Various front-end functionalities have been debugged, fixed and implemented

WebDEX
- Channel rental manager is making good progress, about 50% done

Bridge Calculator
- Features and key parameters are being added, waiting for further data
- Various Back-end functions installed and tested successfully

Lithium
- Working on unilateral settlements, aimed to finish this week

DAO
- Latest tokenomics proposal is live, please cast your votes today:
https://snapshot.org/#/hydranet.eth/proposal/0xf5e81fba4aef97188459bc010f633c884ccf4e6da52c1c1177f8bf07885e5860
- DAO forum is ready for internal testing

CEX Listings
- XT preparations for HDN launch complete (Feb 29th)
- Toobit preparations for HDN launch complete (Feb 29th)


Hydranet & Make-It Partnership Announcement


X/Twitter: https://x.com/TheHydranet/status/1762840514225713247?s=20


Make-it is a professional trading company on the forefront of crypto market making.
They offer various services such as enhancing order book liquidity, spread management, and solutions for price stability across trading pairs and exchanges.

Starting with XT.com, we will collaborate with Make-it, using their order book liquidity solution to enhance the HDN trading experience.

We see this as a valuable collaboration since we not only free up our own funds and team resources from maintaining order book liquidity bots,
but also gain professional expertise and knowledge from a proper market maker company with years of experience in the business.

https://Make-it-pro.de

But we won't stop just here, as expanding make-it's services on further exchanges,
including the Hydranet Core DEX and the WebDEX later down the road, is already being explored as we speak!


Hydranet Web Wallet - Closed Beta Waitlist


X/Twitter: https://x.com/TheHydranet/status/1764270852902732004?s=20

On March 9th, NOVA, the first iteration of the Web Wallet will be released to closed beta testers.
NOVA marks the beginning of a new Hydranet era. 📱

If you want to join, please sign up in the list below!

Thanks for your support! 🤝

Sign up here: https://forms.gle/kWwuRRey4qy2cAwU9



Hydranet - Monthly Recap 21


X/Twitter: https://x.com/TheHydranet/status/1764331952847437833?s=20

This year gave Hydranet an extraordinary bonus - one additional day!
To make the most of it, we conveniently got listed on two new exchanges on the 29th of February, making it a day to remember.

Reflecting on the achievements of February sheds light on what will follow in March, Nova, the anticipated testnet release of the Hydranet Web Wallet.
We are fueled with excitement over this milestone which shows we are truly on the uprise.

Thank you for your continuous support! We look forward to sharing more exciting news during March!
https://medium.com/hydranet/hydranet-monthly-recap-21-february-2024-451db7fce54d

Don't forget to sign up for the upcoming closed beta release here:
https://forms.gle/kWwuRRey4qy2cAwU9



Hydranet - Weekly Update #99


X/Twitter: https://x.com/TheHydranet/status/1764767742131851410?s=20

CoreDEX
- Discussed potential LSSD improvements
- Improving existing and implementing new trading notifications
- Implementing market info fetcher for Vortex Hydranet API

We are aiming (!) to get Vortex, our Core DEX grid bot, out to closed beta testers this week, but can't fully promise this yet.

WebWallet
- New #WebWallet release has been published for internal testing
- Minor UI bugs have been found, overall functionality has not been affected
- Closed Beta Group is being prepared, testers can still apply for early testing on March 9th here: https://forms.gle/kWwuRRey4qy2cAwU9
- Open Beta is planned for March 29th

WebDEX
- Orderbook API prototype expected for end of week
- Channel Rental manager continues to make good progress

Tokenomics
- Tokenomics Simulator has been updated (added Collateral in Network simulation)
- Same update pending for Personal Simulator
- New graphs for ROI visualization based on Collateral, Fee Shares, DEX Earnings and operation costs will be implemented

Bridge Calculator
- Start of frontend implementation planned for this week

Marketing/PR
- Finalized collaboration with Make-It for XT, more options are being explored
- Hydranet HDN has been listed for spot trading on
Toobit.com (https://www.toobit.com/en-US/register?invite_code=eVFetj)
and XT.com (https://www.xt.com/en/accounts/register?ref=SGX5BC)
- More surprises are coming, so stay tuned & participate!

[moderator's note: consecutive posts merged]

[Marckolind]

Exciting to see how much volume you guys are going to pull through the DEX, once its ready as a web-based version. 

[Hydranet HDN]

Hydranet - Weekly Update #100


X/Twitter: https://x.com/TheHydranet/status/1767320482309689794?s=20

CoreDEX
- LSSD Interface (resembling CEX orderbook) & Vortex API are being finished, hit some hurdles last week, but found workarounds
- New orderbook version will drop in the next days, including new pair (aETH / ETH)
- New Wallet version with bug fixes will also be provided
- Preparing for ETH Update on March 13th (Dencun)

WebDEX
- Web Wallet has been successfully published to closed beta testers
- Some bugs and UI issues have already been identified and are being fixed as we speak

Tokenomics
- Website got updated according to our recent tokenomics updates
- Simulator is being updated to latest Tokenomics version, currently undergoing bug fixing

MultiSig
- DAO Forum in final testing phase, should be finished in the next days