Over the last few years, the crypto industry spent a lot of time and effort focusing on two aspects — decentralization and interoperability. Decentralization was definitely the more successful of the two, bringing forth the entire DeFi sector as we know it today. Interoperability also saw great progress, connecting blockchain and paving the way for turning the crypto industry into Web 3.0.
But, when compared to other developments, interoperability is still incredibly complicated, and it moves only by making a few small steps at a time. That’s why the news of the crypto payment ecosystem, Hashbon FiRe (Finance Reinvented) announcing the launch of the first-ever cross-chain decentralized exchange (CDEX), known as Hashbon Rocket, caused a lot of hype in the crypto sector.
The question on everyone’s mind right now, however, is whether its native token HASH will see a price boom equal in importance to the invention and creation of the first CDEX? To spare you the suspension, yes, we believe that it will. With that out of the way, let’s get into the details.
What are Hashbon FiRe and HASH Token?
Hashbon FiRe is a cryptocurrency payment ecosystem that features its own native crypto token HASH. The token is listed on Coinsbit, traded on PancakeSwap and Uniswap, and it will play a major role in the project’s CDEX platform, Hashbon Rocket, where it will allow liquidity providers to make swaps paying fees to arbiters, while arbiters will be in charge of approving transactions. In exchange, they will have voting powers through ownership of the token.
In the future, HASH will also have a role when it comes to issuing DeFi bonds, or launching a crowd sale. The project has already issued 100% of HASH, which is exactly 1 million tokens. 40% of the amount will go to the team, while an equal amount will be sold to investors. 10% will go to charity, 7.5% will be available for staking, and 2.5% will be distributed in the form of bounty, or incentive for ambassadors and advisors.
What is Hashbon Rocket?
Hashbon Rocket is a new, upcoming, decentralized cross-chain token exchange platform that Hashbon launched on September, 9. The platform is the first cross-chain DEX (they call it CDEX) in existence, and its purpose is to serve as a place where users can exchange ERC-20 tokens with BEP-20 tokens. As such, it is the first-ever DEX to connect Ethereum and BSC blockchains by allowing users to quickly and easily exchange DeFi tokens from one ecosystem for those from another.
This is an important development for the DeFi sector because every other decentralized exchange (DEX) has been supporting only intra-chain swaps. What this means is that, if you go to Uniswap, you can only exchange ERC-20 tokens for other ERC-20 tokens, or Ethereum itself. The same is true with Binance Smart Chain’s most popular exchange, PancakeSwap, which only offers BNB and BEP-20 tokens, but not a single one from Ethereum’s ecosystem.
Hashbon Rocket changed that, allowing users to freely move their wealth between different blockchains.
The platform uses the HASH token as fuel that will empower the participants, including Liquidity Providers, arbiters, and even organizers of crowdsales. For more information, users can visit Hashbon’s Medium post detailing all aspects of HASH and Hashbon Rocket.