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

[Hydranet HDN]

Hydranet - Weekly Update #121


X/Twitter: https://x.com/TheHydranet/status/1821668475879690382

Core DEX
- The last servers of the Core DEX have been shut down, significantly reducing ongoing expenses.
- Philipp can therefore focus 100% on the WebDEX development and has already pushed some code.

Web3 Wallet
- The channel rental UI is almost finished and ready for the first team tests.
- #Lithium V2, along with many improvements, will soon be available to everyone.
- Work is underway to fix reported bugs.
Channel rentals are a crucial and central element required for swapping assets.
Once this is live for closed beta, we will have achieved a major milestone on the road to the Web DEX.

Web DEX
- Working on fixing edge cases when providing liquidity.
- Will begin creating documentation for the order matching logic this week.

The order-matching logic and swap engine will be the very last major tasks that need to be solved before we can begin realizing the first swaps.

[Hydranet HDN]

Hydranet - Weekly Update #122

X/Twitter: https://x.com/TheHydranet/status/1824464724282462497

WebDEX Frontend
- Live presentation of channel rental UI including live $BTC Channel renting took place internally
- Started preparing guides for public #Lithium v2 tests
Channel Rental will now be moved to code review, then be tested by team & closed beta testers

WebDEX Backend
- Lithium channel invoices being updated so EVM funds can be used for channel payments
- Rental Manager and HydraApp log-on logic is being improved
- Latest orderbook code and order matching engine documentation have been reviewed
- Started setting up all micro services on our own, to limit any 3rd party dependencies
- Testnet Hub automations, central monitoring setup and logging have been improved
- Self-hosted #Bitcoin node has been setup and proven to be a viable replacement for http://memepool.space hydra-app and hydra-proxy
- Rapid-Gossip-Sync server is currently being setup
- Faucet is being rewritten for improved compatibility

WebDEX Orderbook
- Significant progress on liquidity providing logic
- More order scenarios, including inverted pairs, have been identified, resolved and implemented
- Improvements to Rental Manager Logs have been implemented
- Matching engine development has been started

Check out the Hydranet July Recap #Article:
https://medium.com/hydranet/hydranet-monthly-recap-26-july-2024-1a9921c8ab25

[Hydranet HDN]

Hydranet - Weekly Update #123


X/Twitter: https://x.com/TheHydranet/status/1826671510049677714

Web DEX Frontend
- Channel Rental Manager waiting to be merged
- Lithium invoices completed and successfully implemented
- First backend orderbook connections will be tested next week

Web DEX Backend
- Messaging has been adjusted and updated in order to differentiate between keysend and invoices
- Rental logic has been further improved
- Commenced work on Order- and Swap Service
- Initial Design for Swap API has been drafted
- Evolved Hub deployment automation
- Latest version of faucet bot will be rolled out this week

Web DEX Orderbook
- Continued working on Matching Engine logic for filling multiple orders
- Aiming for first swaps in the next weeks

[Hydranet HDN]

Hydranet - Weekly Update #124


X/Twitter: https://x.com/TheHydranet/status/1829269070019277307

Web DEX Backend
- We're improving the system for renting features and events.
- The orderbook client is now up and running.
- A second hub has been deployed for internal testing and research.
- Work is underway to prepare the swap feature.

Web DEX Orderbook
- We've updated the Unit tests for the Rental Manager.
- A new endpoint for the orderbook has been added.
- The matching logic for partially filled orders has been improved.

Marketing
- The team met to discuss our upcoming marketing strategy, and follow-up actions are already in motion.

[Hydranet HDN]

Hydranet - Weekly Update #125


X/Twitter: https://x.com/TheHydranet/status/1831778532181340344

Web DEX Frontend
- Chanel Rental manager has been merged
- Internal Tests of latest Channel Rental update have  started

Web DEX Backend
- Lithium Multi-Path implementation is being prepared
- Swap Service for server side is being setup afterwards
- Swap Logic for client side and initial swap tests will follow upon completion

Other
- Monthly Recap has been published:
https://medium.com/hydranet/hydranet-monthly-recap-27-august-2024-ad06acadadcf
- Weekly Team Calls and Dev calls will take place on public Discord server to show the work going on

[Hydranet HDN]

Hydranet - Weekly Update #126


X/Twitter: https://x.com/TheHydranet/status/1834312581890064457

Web DEX Frontend
- Channel Rental Manager will be rolled out to closed beta testers this week

Web DEX Backend
- Lithium Multi Path payment logic has been completed
- Backend code is being refactored for optimal compatibility and future development
- Initial draft of Backup Service has been created
- Swap Service on client side has been completed
- New Orderbook API functions have been successfully exposed to frontend
- Faucet bot has been updated

Web DEX Orderbook
- Testing procedures have been elevated and updated
- Orderbook Swap Services are being developed and will be implemented next

[Hydranet HDN]

Hydranet DAO Community Update:
Web Wallet Release and GTM Strategy


X/Twitter: https://x.com/TheHydranet/status/1835769726368432315

Hydranet Community,
We would like to update you on our WebWallet progress
and the adjustments we’re making to ensure the best possible product.

Development Update: Key Achievements
We've made great strides with two major features:
- Lithium V2 – Now live and accessible to the community!
- Channel Rentals – In closed beta, showing strong progress.

However, we’re still finalizing critical security features:
- Cloud-based Channel Backups for multi-device access.
- Watchtowers to safeguard channel balances.
- Lithium V2 Audit to guarantee its security.

To deliver a wallet that prioritizes usability and performance,
we’ve decided to move the Mainnet release of the Web Wallet to a time that's suitable with our testnet and mainnet launch plans.
While this is a tough decision, it ensures a secure, full-featured release at the appropriate time that will also be more suitable for marketing.


---


Go-To-Market Strategy: What’s Coming Next
We’re focusing on a phased rollout to build momentum toward the full Mainnet release:

1. Waitlist Campaign (Early Q4 2024):
Launching soon with limited tiered structures and incentives for early sign-ups.
Including access to Alpha phase testing and reward programs, top contributors will have access to early mainnet incentives,
exclusive AMAs, and reward programs. Stay tuned for announcements on how to join.

2. Alpha Phase (Q4 2024):
Waitlisters will test key features of Simple swaps, transactions, and early Beta features.
This phase will include competitions and user feedback/bug reporting to refine the experience for public Beta phase.

3. Beta Phase (Q4 2024 - Q1 2025):
Open to all users, the Beta phase will expand testing to include weekly and monthly competitions
on a fully functioning Web Wallet and Web Dex.
Expect more momentum and broader crypto community participation with marketing and more.

4. Mainnet Launch (Q1 - Q2 2025):
After thorough testing and feedback, the WebWallet / WebDex will go live on Mainnet with a full set of features.
Access to referral programs will begin with early Binance-level incentives.

5. Post Main Net (Q2 2025 and on):
Continued upgrades and trading competitions with Hydranet Network development and growth in our tokenomics plans.
Titan and Guardian structures emerge, and the dream becomes a reality.

We are committed to publishing a more exact timeline at the end of 2024 / early 2025!


---


Get Involved:
You can see the Web Wallet's current progress now and get a feel for why features
 like Cloud-based Channel Backups play a major role in user experience.
A Lithium guide for Version 2 can be found here:
https://medium.com/hydranet/lithium-v2-public-release-15bd50070862.

- Try Lithium V2: Live now at https://wallet.hydranet.ai 🔥
- Join the Waitlist: Stay tuned for our Q4 waitlist launch and #rewards.
- Connect with Us: Look out for upcoming AMAs and X-Spaces.

Thank you everyone for your understanding and support as we continue refining the Web Wallet
for a stronger launch that's cohesive with development, marketing, and community interest.
— The Hydranet Team

[Hydranet HDN]

Hydranet - Weekly Update #127


https://x.com/TheHydranet/status/1837052398549749980

Web DEX Frontend
- Channel rental feature has been rolled out to closed betas testers, first channels have been rented successfully
- Improvements and reported bugs are being fixed
- Lithium v2 has been released to the public, find more info here https://medium.com/hydranet/lithium-v2-public-release-15bd50070862…

Web DEX Backend
- Continued working on channel backup service
- Database transactions for state channel backups have been improved
- Lithium Indexer issues have been resolved and will be updated accordingly
- Bugs that have been identified via community and beta testers are being worked on

Web DEX Orderbook
- Unit tests for swap update event logic have been added
- Swap Service development has been kicked off
- Logic for swap fee requests has been defined

𝗢𝘁𝗵𝗲𝗿:
- Hydranet DAO Community Update has been released:
https://x.com/TheHydranet/status/1835769726368432315

[Hydranet HDN]

Hydranet - Weekly Update #128


X/Twitter: https://x.com/TheHydranet/status/1839536268947886298


Web DEX Frontend
- Working on an issue related to inputting the amount to be sent, where removing digits erases the entire number
- Improving UX based on feedback from Channel rentals and Lithium tests

Web DEX Backend
- Functions for invoice-related swap service are being exposed
- Work on channel backup service has continued
- More code is being refactored in order to render debugging more efficient
- BDK and LDK have been updated to the latest versions and solved some breaking changes

Web DEX Orderbook
- Work on Swap Service implementation continued
- The fee system received an update, allowing configurable fee amounts for taker and maker
- New functions for decoding invoices are being implemented and tests will be created accordingly
- Minor issues with some unit tests have been identified and are being resolved

[Hydranet HDN]

Hydranet - Weekly Update #129


X/Twitter: https://x.com/TheHydranet/status/1841854614489940450

Web DEX Frontend
- Continued working on Simple Swap UI
- Continued fixing reported improvement suggestions and issues

Web DEX Backend
- Backend code refactoring has been completed
- Orderbook logic is being reviewed for pending implementation
- Minor issues (e.g. Uni V3 formula) with order matching logic have been identified and are being resolved, tests are being updated accordingly
- Continued working on Backup Service

Web DEX Orderbook
- Swap Service is being finished and unit tests have been added for full matching process and security validations
- Last issues on order engine are being tackled
- Removing liquidity orders will be refactored to implement newly created logic

MultiSig
- Q3 financial statement will be released in the next few days

[Hydranet HDN]

Hydranet DAO Q3 2024 Financial Update

X/Twitter: https://x.com/TheHydranet/status/1843760078513373439

Dear Hydranet DAO Community,
We’re excited to present our Q3 2024 financial update, highlighting key milestones and strategic moves that advanced Hydranet’s journey.
This quarter marked our transition from Core DEX to Web DEX, significant progress on the Web3 Wallet, and ongoing improvements to our decentralized exchange infrastructure.

Q3 Accomplishments:

1. Core DEX Sunsetting:
- Core #DEX officially sunset following the successful passing of DAO Proposal #32.
- All state channels were closed and user funds returned to their Layer 1 addresses. Users can still withdraw by importing their wallet seed phrase into any EVM or BTC wallet.

2. Web DEX and Web3 Wallet:
- Channel rental manager finalized and tested, with the feature rolled out to closed beta testers.
- #Lithium v2 publicly released, enabling multi-hop transactions, with Titans acting as intermediary nodes.
- Orderbook development continues, with liquidity logic and swap services nearing completion. Early tests have connected backend and frontend systems.
- Infrastructure improvements, including self-hosted microservices and #Bitcoin nodes, reducing reliance on third-party providers.

3. Lithium Protocol:
- Introduced invoice-based transactions to improve structure and control in off-chain payments.
- Enhanced multi-path payment and hashlock features, as well as the messaging system for invoice transactions.

4. Strategic and Financial Decisions:
- Removed liquidity from Toobit due to low trading volume, focusing on MEXC instead.
- Prioritized #WebDEX development while maintaining cost efficiency in operations, marketing, and management as we prepare for the upcoming product launch.

5. Web DEX Backend:
- Exposed invoice-related swap service functions, continued work on the channel backup service, and upgraded core libraries (BDK and LDK) to resolve compatibility issues.

6. Web DEX Frontend:
- Addressed user feedback to improve channel rental and Lithium testing. Resolved UX bugs, including issues with amount input fields.

7. Web DEX Orderbook:
- Swap service and liquidity logic development advanced, with configurable fees for takers and makers.
- New invoice decoding functions implemented and tested, resolving minor unit test issues.

Q3 Financial Allocation:
1. Web DEX Development, R&D: 2,722,193 HDN & 33,660 USDT Increased investment in Web DEX development, channel rental, and Lithium v2 features.
2. Multi-sig / DAO Management:  415,560 HDN Focused on efficient operations post-Core DEX sunsetting.
3. Operations: 331,144 HDN Maintained lean operational spending.
4. Marketing: 67,611 HDN & 1,902 USDT, Preparing campaigns for the upcoming Mainnet release.

We continue to push forward with Web DEX development while maintaining financial discipline.
We’re excited about the upcoming Mainnet release and look forward to sharing more in Q4.

DAO Addresses:
- POL: 0xB9eBe487fc454264CbCdDfd19374D4D2353c779d
- Treasury: 0xEe17c27b97539B292c0dC987707121e51D9Ea41D
- Vault: 0xc5888c4c261a1c5e8745eb1977eb54fcb21d2a28

Thank you for your continued support, and we’re excited to build the future of #decentralized trading with you.

Sincerely,
Hydranet Representatives

[Hydranet HDN]

Hydranet - Weekly Update #130


X/Twitter: https://x.com/TheHydranet/status/1844477194506207542

Web DEX Frontend
- New #Web3 Wallet Build has been compiled and was already pushed to closed beta testers
- Continued improving user experience

Web DEX Backend
- Minor bugs are being dealt with in order to enable swaps
- HydraApp API functions for market buy/sell amounts and prices have been updated
- Spot mechanics on orderbook side and invoices are being reviewed
- The "remove liquidity" function is being reviewed
- PRs regarding Channel Backup Service are being reviewed

Web DEX Orderbook
- Orderbook has undergone various adjustments for newly implemented liquidity tick architecture and new unit tests have been added accordingly
- "Remove liquidity" logic is being streamlined
- Network authentication functions are being developed

[Hydranet HDN]

Introducing Hydranet's Engage-to-Earn Initiative! 🌟

We’re thrilled to roll out a new engagement system, brought to you by our friends at Siva!
This initiative rewards our amazing community with micro HDN (µHDN) for staying active and engaged on Discord and http://X.com!

Here’s how to get started:
🟢 New Discord Channels: "engage2earn" & "tweet2earn"
In these channels, you’ll be able to earn µHDN and experience points (XP) by actively engaging with the community.
Whether you're chatting in channels or reacting to announcements, you'll earn rewards while connecting with fellow members.

🟢 Earn More with "Tweet2Earn"
By connecting your http://X.com account, you can paste URLs from posts or comments containing
@TheHydranet and/or $HDN to earn more µHDN and XP.
This helps support Hydranet across social media as we move through Waitlisting, Alpha, Beta, and Mainnet phases.

Getting Started is Easy:
1. Engage:
Jump into any channel on our official Discord server (https://discord.gg/hydranet) and start chatting!
You can check your balance using the /balance command in the ⁠💰・engage2earn channel.

2. Connect http://X.com:
Link your http://X.com account, and after completing the prompts, share your http://X.com post URL in the tweet2earn channel using our accepted tags to start earning rewards!

Stay active, have fun, and start earning with Hydranet's Engage-to-Earn!

[Hydranet HDN]

Hydranet - Weekly DEV Update #131


X/Twitter: https://x.com/TheHydranet/status/1847025909712163011

Web DEX Frontend:
- Simple Swap UI page is making good progress

Web DEX Backend:
- Closed beta reported bugs are being fixed and debugged
(e.g. loop after opening LN channel and refreshing wallet; issue when counterparty does not resolve payment, etc.)
- Continued work on swaps
- Feature to estimate market order on frontend is being worked on

Web DEX Orderbook:
- Working on "removing liquidity" order logic and setup tests accordingly
- Developing solutions for edge cases regarding matching liquidity orders for other liquidity orders
- More functions are being lined up (rental manager improvements, user liquidity validations, orderbook state

[Hydranet HDN]

Hydranet - New Website Unveiled


X/Twitter: https://x.com/TheHydranet/status/1847669575250309231?t=6eGmcnxBf7jHAYSi1gP1Hw&s=19

Over the past few weeks, our talented new designer, Geronimo, has been hard at work crafting a sleek, modern look for our website.
The update shines a spotlight on our cutting-edge Web3 Wallet and its powerful features, while also giving the docs page a big overhaul.

Everything is coming together beautifully, and there’s more on the horizon, so stay tuned!
Geronimo has also been creating fresh Discord banners and will collaborate with the team to streamline the UI of our coming off-chain DEX.
Explore the new site now: https://www.hydranet.ai/

[Hydranet HDN]

Hydranet - Alpha Waitlist is Now Open!


X/Twitter: https://x.com/TheHydranet/status/1848377168541229079

The time has come! We are thrilled to announce the release of our Alpha waitlist.
We’re now accepting users who are ready to help us test, trade, and participate in competitions designed to stress test our wallet and DEX.

This marks the beginning of an exciting journey, and we couldn’t be more eager to have you all with us as we work towards building one of the greatest decentralized platforms to date.

Join the Waitlist Now:
https://docs.google.com/forms/d/e/1FAIpQLSf1pw5yE9f3JKJtcbZIvaraug6Che52t0dV-v1YwIXpVSLdCQ/viewform



In the form, you can provide your information and any referral email addresses.
Stay tuned as we announce the exciting incentives and full details of the Alpha programs as we approach the launch!

Let’s shape the future of DeFi together.

[Hydranet HDN]

Hydranet - Weekly DEV Update #132


X/Twitter: https://x.com/TheHydranet/status/1849587453142643121

Web DEX Frontend:
- Continued development of #SimpleSwap UI, implementing first swap functions backend

Web DEX Backend:
- Fixing #Lithium bugs related to channel state storage, announcement messages, network authentication messages, and more.
- Fixed Lightning bug
- Exposed order matching events to frontend. Frontend can now react on these events
- Fixed new layers on gRPC server
- Continued work on the state channel backup service

Web DEX Orderbook:
- Fixed issue with matching limit orders, resulting in a new matching order logic
- Working on logic for matching liquidity pool orders against liquidity pool orders
- Added unit tests for new matching order logic

[Hydranet HDN]

Hydranet - Recent Updates


X/Twitter: https://x.com/TheHydranet/status/1851026316289822778

Dear Hydranet Community
Don't miss out on our latest updates!

This past week, we launched our brand-new website, complete with the first version of the Hydranet Resources Page.
Plus, we've officially opened applications for our exclusive Alpha Waitlist!
We’re looking for users eager to dive in, test, trade, and join competitions that will put the Hydranet Wallet and DEX through their paces.
If you’re ready for the challenge, we’d love to have you on board.

Website
https://www.hydranet.ai/

Resources Page
https://www.hydranet.ai/resources

Alpha Waitlist Application:
https://docs.google.com/forms/d/e/1FAIpQLSf1pw5yE9f3JKJtcbZIvaraug6Che52t0dV-v1YwIXpVSLdCQ/viewform

Apply now to secure your spot and help us gather valuable feedback to streamline our upcoming flagship services!

[Hydranet HDN]

Hydranet - Weekly DEV Update #133


X/Twitter: https://x.com/TheHydranet/status/1852244822846783673

Web DEX Frontend
- Swap logic received substantial amount of feedback and debugging

Web DEX Backend
- Rental Manager has been debugged, and underlying logic has been updated
- Review call has taken place regarding Channel Backup Service and Limit Orders
- A new Authenticator Service has been introduced

Web DEX Orderbook
- Tests for the entire orderbook have been scheduled and carried out
- Began adding checks to validate liquidity and channel amounts
- Researching a trading history feature