Key Takeaways
- Hashflow, a DeFi-native RFQ DEX (top 10), has announced its Hashverse Early Access staking opportunity.
- HFT token holders will receive daily rewards, with a target APR of 10%.
- Stakers will also participate in Hashflow governance through the vote-escrowed veToken model.
- The Hashverse is Hashflow’s storyverse-driven, NFT-powered, gamified DAO, expected to fully go live in the coming months, which is expected to establish Hashflow as the first gamified DEX governance platform.
Decentralized finance (DeFi) trading platform Hashflow today announced that its Hashverse Early Access staking opportunity is live now.
Founded in 2021, San Francisco-based Hashflow is a decentralized exchange (DEX) backed by a request-for-quote (RFQ) pricing model that allows users to trade any asset on any chain.
What Makes Hashflow Unique?
Users can begin trading in seconds simply by connecting their wallet.
The most important feature – no slippage. Hashflow offers low transaction or gas fees, all trades are commission-free, high liquidity and no slippage, a common problem in volatile markets where the price of a trade changes between initiation and completion. All price quotes are executed at their displayed price, giving users the most value for their buck on every trade.
Since its inception in August 2021, Hashflow has cleared over $10 billion in total trade volume with over 150,000 unique wallets trading on the platform, making it a top 10 DEX by volume with an average daily volume of $25-30 million.
Hashflow is backed by top VCs
In July, Hashflow raised $25 million in a Series A funding round valued at $400 million. Investors in the round included Jump Crypto, Wintermute, GSR, LedgerPrime, QCP, Altonomy, Dragonfly Capital, Electric Capital and the venture capital arms of cryptocurrency exchanges Coinbase (COIN) and Kraken. Last year, it raised $3.2 million in a seed funding round led by Dragonfly Capital and Electric Capital along with participation from several top venture capital firms and angel investors.
Hashverse To Go Live In Coming Months- How Token Holders can maximize their returns?
The Hashverse is Hashflow’s storyverse-driven, NFT-powered, gamified DAO, expected to fully go live in the coming months, which will shape the future of the Hashflow protocol.
With this Early Access staking opportunity, token holders have the opportunity to stake their HFT, earn rewards, and participate in Hashflow governance ahead of the full launch of the Hashverse.
Token holders will receive daily rewards, with a target APR of 10% for tokens staked for a minimum of six months.
Holders of the Creation’s Coffer NFT, part of Hashflow’s first NFT collection launched ahead of its October 2022 token launch, will automatically receive a 10% Power Level boost when staking HFT for a minimum of six months.
Once the Hashverse is live, tokens staked in Early Access will default to the prevailing Hashverse tokenomics/ reward scheme.
The stated mission of the Hashverse is: “To create a space where anyone can rise through the ranks to govern.”
In addition to earning rewards, stakers will also have the chance to participate in Hashflow governance through the vote-escrowed veToken model. Voting rights will be determined based on the amount of HFT staked and the duration for which it is locked. The more veHFT a user has, the more influence they will have on the direction of the protocol through governance.
The launch of Hashverse Early Access marks the transition to the veToken model
The launch of Hashverse Early Access marks the transition to the veToken model, in which only staked HFT (veHFT) can be used for DAO participation and voting.
A user’s veHFT balance is represented by their Power Level, which will increase with more tokens staked or a longer lock duration. Power Levels will decay linearly until the token lock period expires and the originally staked tokens can be reclaimed.
The launch of Hashverse is expected to establish Hashflow as the first gamified DEX governance platform, combining the best of player-based gaming with an easy-to-use decentralized governance platform.
Read Also: Gamified Decentralized Finance Platform DeFi Land Raises $4.1 Million
