Hashbon Rocket is LIVE. Fasten your seatbelts!
First of all, we’d like to thank our community and early-bird passengers of the Hashbon Pre-Sale for following our development of Hashbon Rocket’s release and for the support and constructive inputs we’ve seen thus far through our social media. With that being said, we’re finally excited to announce that:
🚀 Hashbon Rocket is now Live!
Let’s take a closer look at the first-ever CDEX (cross-chain decentralized exchange) –– it is a huge step for Hashbon towards the DeFi space. The platform has already been covered by the media:
- Hashbon Expands Into DeFi Space With Rocket CDEX Platform // Crypto Daily
- Hashbon Moves to DeFi to Launch CDEX Platform and Connect Ethereum and Binance Smart Chains // NewsBTC
- Blockchain Interoperability — Connecting Ethereum and Binance Smart Chain. Why is Cross-Chain Technology Important? // CoinGape
What is Hashbon Rocket?
Explore Hashbon Rocket — the DeFi ecosystem with the ability to swap any ERC-20 token for any BEP-20 one and vice versa while creating liquidity pools.
Currently the platform supports two of the largest blockchains –– the Ethereum blockchain and Binance Smart Chain. More blockchain support will be rolling out along the way.
Your average swap only supports intra-chain exchanges, meaning that exchanging two unsupported tokens isn’t a possibility. We’ve focused heavily on creating a platform emphasizing on functionality and having a seamless user-friendly experience.
Hashbon Rocket’s Features
- A fully decentralized cross-chain exchange
- HASH token is the heart of Hashbon Rocket. It is used for covering arbitrage fees and staking
- Supports EVM-compatible blockchains
- Swap fairness is insured by the decentralized network of arbiters
- Any HASH token holder is eligible for an arbiter’s role
- Hashbon Rocket is inside the Hashbon FiRe ecosystem (Finance Reinvented)
As provided in our roadmap, being a decentralized cross-chain exchange isn’t where the road ends for Hashbon Rocket. We plan on expanding its utility further to provide a more rich experience for our users.
How the Algorithm Works
We have a proof of stake consensus algorithm at the heart of Hashbon Rocket’s functionality –– we’ve created a system that is both efficient and secure. This was achieved by creating an infrastructure based on arbiters staking and confirming transactions.
When a transaction comes through, arbiters vote on whether the transaction is successful or not. If the transaction fails, funds will be returned to the user initiating the order. If it is voted as successful, the exchange will take place and tokens will be sent to the user’s wallet.
Here is how the algorithm works in details:
- A liquidity provider posts an offer in the contract running on the Binance Smart Chain to swap tokens with set parameters
- The amount of tokens to be exchanged is withdrawn from the exchange service’s balance and credited to the contract’s balance
- The client finds the offer and places an order to purchase the desired amount of tokens, all in the BSC contract
- The client creates a payment on the Ethereum Mainnet, and their tokens are credited to the exchange service account
- The clients flags the order as paid on the BSC
- Arbiters compare the order to the corresponding payment and decide to transfer the tokens purchased to the client as long as the payment has been successfully made
- Based on the taken decision, Arbiters vote on whether or not to transfer the tokens to the client, implementing the method in the BSC contract
- Once voting is over, the final voting transaction transfers the tokens to the client
How to use Hashbon Rocket
A. ERC-20 <> BEP-20 Tokens Swaping
Please follow this 1–2–3 guide on Gitbook for exchanging BEP-20 tokens for ERC-20 tokens (as described in the example with screenshots) and visa versa.
B. Liquidity Pool Creating
Here are detailed instructions on how to run pools in Hashbon Rocket.
Should you have any questions on how to use Hashbon Rocket, please don’t hesitate to ask here in the comment section or through our social media.
Please note that this post will be edited as more functionality is added.
Thanks a lot for your support and congratulations!!!