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About Hashflow (HFT)
Hashflow is a DEX created with cross-chain interoperability at the fore. It also claims to be capable of giving traders a better, more efficient experience in terms of averting costly price slippage, which is said to be minimized to the point of being non-existent; additionally, the nagging problem associated with block creation inefficiencies is purportedly being solved by Hashflow's approach, or its request-for-quote (RFQ) model combining off-chain pricing functions with on-chain settlement.
HFT is the project's native token used for governance.
Hashflow's bent toward the support of cross-chain interoperability – it supports a slew of public chains, including Ethereum, Avalanche, Polygon, Arbitrum, Optimism and BNB – rests on being able to connect users with professional market makers, which is the hallmark of the RFQ model, as opposed to automated market makers (AMMs), the project explained in a press release.
HFT value is being pegged to claims of superior execution, low expenses and protection from MEV costs.
The project is touting growth, per its public documents.
Since its inception in August 2021, Hashflow says it has cleared with over 150,000 unique wallets trading on the platform and averaged aggregate daily volume of at least $25 million. And, in less than six months, the platform has surpassed $1 billion in total trade volume on Polygon and Avalanche.
It also has been integrated with aggregators, such as 1inch Network, Odos and Zerion.
Meanwhile, Crypto market makers are being on boarded. These include Wintermute, GSR, Altonomy, LedgerPrime and Kronos.
When was HFT created and how much was it worth?
Hashflow was formed in San Francisco in 2021. After it raised $25 million in a Series A funding round earlier this year, per CoinDesk, the project was valued at $400 million.
The HFT token had a market capitalization of $100 million as of Nov. 9, 2022. The per-token HFT price hovered at about $0.60.
How is the price of HFT determined?
At genesis, the total HFT supply will be 1 billion tokens, the project said.
The tokens started trading Nov. 7, 2022. In some of the earliest observable instances of HFT changing hands – such as in the Binance Innovation Zone, a new project launching pad – the token initially surged (CoinCodex).
More exchanges joined in HFT buying and selling activity and, not surprisingly, HFT price popped. CoinGecko recorded an all-time high of $3.60 for HFT value.
But the crypto world turned volatile on Nov. 7, 2022, with news that a major exchange, FTX, needed to be rescued (by Binance).
As of Nov. 9, 2022, HFT was well below $1 amidst speculation about the health of the crypto sector battered by the downfall of one of its largest players.
Why does HFT have value?
Most DEXs rely on AMMs to facilitate trading. Hashflow's use of an RFQ model to manage its liquidity pools is what sets it apart in a crowded space, per The Daily Hodl.
Hashflow is backed by a slew of huge industry players, including Coinbase Ventures and Galaxy Digital.
Is HFT secure?
Liquidity providers (LPs) have access to enhanced security by avoiding risks associated with AMMs, as a project document explained.
What are the main benefits of HFT?
- Embracing the RFQ model over AMMs, Hashflow avoids the inefficiencies and risks associated with the latter approach to buying and selling, the project said.
- Hasflow, by taking the mechanisms for pricing off-chain, says it can provide traders better prices, tighter quotes, without slippage and impervious to front running.
- Traders can "seamlessly swap assets across chains within minutes without the need for external bridges," the platform said.
What do critics say about HFT?
That after getting attention due to big exchange listings, HFT value consolidated while volume dropped as well, according to CoinJournal.
Among the project's backers is Sam Bankman-Fried's Alameda Research, which was confronting insolvency issues as of early November of 2022.
How to buy Hashflow (HFT)
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