The crypto payment platform Hashbon FiRe (Finance Reinvented) has expanded its operation to decentralized finance (DeFi). With the growing market size of DeFi, crypto projects like Hashbon FiRe are jumping to provide average consumers and crypto enthusiasts with fully decentralized features of cross-chain token exchange and running liquidity pools at the first stage of newly launched MVP.
Hashbon Rocket will prove itself useful due to the fact that it solves prevalent issues in the market such as increasing Ethereum gas prices, blockchain incompatibility, and complete control over your own assets. This is especially relevant to small-capital users, as a 3 USD transaction fee doesn’t make sense for a 10 USD transfer.
Furthermore, over the past couple of years, many new blockchains have popped up, which in turn, spread a crypto holder’s portfolio over multiple blockchains. This led to an issue, where exchanging these tokens becomes a hassle. Hashbon Rocket will provide these users with an easy way to exchange tokens that are unsupported with only a few clicks.
We encourage users to head over to Hashbon Rocket’s page and try out the platform for themselves. If you’d like to receive more details on HASH token fueling the ecosystem, visit the Hashbon Pre-Sale page to study the whitepaper, tokenomics and roadmap of the project.
What’s Hashbon Rocket’s Buzz About?
Hashbon’s ecosystem launched Hashbon Rocket CDEX on September 9, 2021. Hashbon Rocket is a cross-chain decentralized exchange (CDEX) platform, dubbed “the first cross-chain DEX”. It solves the problem of exchanging BEP-20 tokens for ERC-20 tokens in a decentralized finance approach. Unlike what is obtainable with the traditional decentralized exchanges that support intra-chain swaps, Hashbon Rocket is designed to execute inter-chain token swaps. How to you can easily learn from their Gitbook.
Hashbon Rocket CDEX-platform starts with implementing token exchanges between Binance Smart Chain (BSC) and Ethereum blockchain networks. From here, it can be broadened to accommodate other Ethereum Virtual Machine (EVM) compatible blockchain protocols. The platform employs a proof-of-stake consensus mechanism where arbiters are the decision-makers. Their power is directly proportional to the number of HASH tokens they have. The higher the number of HASH tokens an arbiter has, the greater his reward for a correct vote. Conversely, the higher the penalty is for an incorrect answer. They chose Proof of Stake to insure secure transactions (using an infrastructure of arbiters) as well as a green alternative to the Proof of Work consensus algorithm (more details in the whitepaper).
According to Grigory Bibaev, the CEO of Hashbon, “cross-chain exchange between EVM-compatible blockchains is only the first step. In the future, we see Hashbon Rocket as a multifunctional DeFi platform that provides a variety of services from DeFi bonds for corporations to lending and staking.”
The Token That Fuels Their Rocket
First of all, it is worth mentioning that HASH token is an ERC-20 and BEP-20 compliant utility token that serves as the fuel for Hashbon Rocket’s platform. HASH token powers various system participants within the Hashbon Rocket platform. For instance, liquidity providers have to pay commissions to the arbiters in HASH tokens to make exchanges.
The token also gives arbiters voting powers to verify and approve transactions within the system. It also gives them the power to submit proposals to Hashbon. Additionally, it allows people who desire to issue DeFi bonds or launch a crowdsale campaign using HASH tokens. The decentralized network of arbiters (token holders) ensures that there is swap fairness during any exchange from one chain to another.
HASH token can be tracked on both BscScan and EtherScan using the address 0xeb1112ac78d537853150e2a07e8b765e29d3f019.
An Overview of Hashbon FiRe
Hashbon is a crypto payment platform originated from the Czech Republic. It was founded in 2016 by Grigory Bibaev. The goal of the exchange has always been to give crypto enthusiasts seamless access to an ecosystem that allows easy crypto transactions. Hashbon fully provides crypto payment services both to business and individual users worldwide in the DeFi and CeFi sectors.
Aside from the latest Hashbon Rocket, there are other diversified solutions created by Hashbon FiRe, such as the Hashbon Quant Wallet and Hashbon React Payment Gateway. Hashbon’s Quant wallet ensures that users transact their crypto assets smoothly and securely while their React Payment Gateway enables merchants to accept payment in over 30 crypto assets without paying any commission.