The crypto market is in full swing and here at Hydranet we are making exciting progress throughout March! The happening of this month is of course NOVA, the first public testnet release of the Hydranet Web3 Wallet. To all our delight, the release was a huge success and the team has received a lot of valuable feedback! Thank you!
Hydranet Web3 Wallet — NOVA
The Hydranet Web3 Wallet has finally hit the public testnet in an event dubbed NOVA! NOVA was conducted as a two-stage release. A limited number of testers got access to the wallet on the 9th of March, to rule out any obvious bugs. 20 days later, on the 29th of March, the wallet was released publicly along with this release article. The Hydranet Web3 Wallet can be accessed via our website or using this link. Be sure to check it out, test it, and share your thoughts with other HydraNerds and the team. The team has already received tons of valuable feedback, both from the closed testnet release and the public testnet release, but there is always room for more!
All the bugs found by closed and public testers are being worked on and new versions of the Hydranet Web3 Wallet are rolling out continuously. The team has also started working on a login UI, the implementation of Lithium (Hydranet’s off-chain protocol for EVM) and a solution for state channel backups using StorJ, a decentralized system for digital file storages. With StorJ, users will be able to use the same seed phrase on several devices and get all information about their currently opened state channels shared among them.
The first iteration of the Hydranet Web3 Wallet on testnet includes:
- Bitcoin on-chain & off-chain actions on the Bitcoin Signet
- EVM on-chain actions on the Ethereum Holesky testnet
- Wallet page: Manage your assets
- Channel page: Conduct off-chain transactions
- Transactions page: Track your transaction history
- Settings: Customize your preferences
- Dark/light mode: Choose your preferred theme
Lithium Protocol
Regarding the unique and upcoming Lithium Protocol there is some great news this month as the protocol’s innovator and designer Fedeparma has just started to work with Hydranet as a full-time developer! This spells a bright future for the backend of the Hydranet Web DEX, as Fede will work on the Lithium protocol, Lithium Liquidity Providers (LLPs) and External Lightning Signer.
This month, the unilateral settlement implementation is already finished for Lithium as well as a major refactoring of the design, which carries significant gas optimization! Lithium will be the enabler of cheaper trading and bridging of EVM assets.
Hydranet Core DEX
The Core DEX has seen the following improvements this month:
- A new wallet version rolled out with bug fixes
- Aligned Core DEX with Ethereum Upgrade “Dencun” that was rolled out March 13th
- Implementation of new trading notifications and improvement of current ones
- Implemented market info retriever for the Vortex API
- LSSD and Vortex bugfixes, and is close to final state.
- Vortex bot grid strategy is working as LSSD & Vortex harmonization is complete
- New pair included: aETH / ETH
- Orderbook fixes rolled out
Core DEX Airdrop
To show our support for the diligent testers of our software, this month we decided to give back by doing a surprise $HDN airdrop with a total of 100k HDN distributed to all Core DEX mainnet users who have conducted at least one trade! The community testing means a lot to the future of Hydranet, and it’s time to show our appreciation.
Tokenomics
Our tokenomics simulator has been upgraded with collateral amounts added and taken into account by the calculations during the simulation. Moreover new graphs for ROI visualization based on Collateral, Fee Shares, DEX Earnings and operation costs will be implemented. This upgrade will give the users a much better sense of the efficiency and profitability of running different services such as Guardians and Titans, across different network conditions.
The simulator and information across the Hydranet Website has been updated according to the latest Tokenomics version that was approved by the community through a DAO vote last month in Proposal #29.
The frontend implementation for the coming bridge calculator is in progress and a version has been released for internal testing and feedback.
Marketing and Community
The NOVA release was accompanied by an updated website featuring the Hydranet Web3 Wallet’s features, a promotional video, and a series of Youtube shorts covering the Hydranet Web3 Wallet’s functionalities, including fast syncing using the Rapid Gossip Sync protocol, Lightning channel creations, Lightning payments, and more. Spread the word of the Hydranet Web3 Wallet and the NOVA release with your friends and take a chance of winning 5,000 HDN!
The last day of March had a small teaser about our Lithium protocol advancements. For now, let’s just say the future’s looking good! More info will follow in April during which a Telegram AMA will also be held, diving deeper into the recent Lithium advancements. Stay tuned for this!
Hydranet DAO
The development of the Hydranet DAO forum is mostly complete and is currently undergoing internal testing. This forum is aimed to become a hub for DAO proposals, providing a streamlined platform for submitting proposals and engaging in constructive discussions. The Hydranet DAO forum will thereby form another step and propel us further into the realm of decentralized decision-making.
Leave a Comment