Hydranet $HDN

Hydranet is a Decentralized Autonomous Organization that has created the Hydranet DEX, pioneering a Layer 3 trading platform that interconnects the Bitcoin and Ethereum worlds. Utilizing Layer 2 off-chain protocols such as the Lightning Network and the Connext Vector Network, the Hydranet DEX enables users to exchange seamlessly between Bitcoin and EVM-based blockchains without surrendering their fund custody. The platform is recognized for its near-instant settlement times and low transaction costs.

About Hydranet DEX

Hydranet DEX includes a limit order book, stored by the Hydranet Network, and a built-in multi-currency light wallet enabling users to store both BTC and EVM-based assets. The trades on the Hydranet DEX are executed off-chain, in a fully peer-to-peer manner, secured using hashed timelock contracts. This ensures that either both peers or no peers receive the agreed upon funds. Layer 2 off-chain protocols are used as scaling solutions for Layer 1 blockchains, maintaining users' complete control over their private keys.

Release of Hydranet DEX

The first iteration of the Hydranet DEX was launched on the 23rd of September 2023 as a downloadable desktop client, combining a user-friendly interface, seamless trading experience, and robust security features. An upgraded version of the DEX is under development, which will be a platform-agnostic web version and will be accessible from the browser, inheriting all the admirable features of its desktop predecessor along with Hydranet’s proprietary EVM off-chain protocol, Lithium.

Hydranet DEX's Powerhouse: The Hydranet Network

The Hydranet DEX's operation is steered by the Hydranet Network. The network is managed by two crucial components: Titans and Guardians. The Titans ensure the network's continuous functionality by hosting the exchange’s limit order book, providing rental liquidity, and acting as a matchmaking engine for trading peers. The Guardians maintain the network's integrity by actively monitoring the actions of both traders and Titans, enforcing the network's rules, and penalizing rule offenders.

Both Titans and Guardians are required to provide collateral in the form of HDN to execute their respective roles.