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HYDRANET (HDN)
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
Full Linktree
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!
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