Hydranet is a decentralized autonomous organization (DAO) focused on solutions that allow fundamentally-incompatible blockchains like Bitcoin and Ethereum to interoperate with each other using Layer 3 abstractions.
Layer 3, to Hydranet, is the bridge where differing and otherwise-isolated Layer 2 protocols like Bitcoin’s Lightning Network and Ethereum’s Connext state channel network communicate and exchange information.
HDX is an Arbitrum token with governance, fee incentives from network participation, and loyalty rewards.
Layer 1: On-chain transactions. Traditional, limited to one type of coin and blockchain.
Layer 2: Off-chain transactions. Nearly instant, limited to one type of coin and blockchain.
Layer 3: Cross-chain, off-chain transactions. Nearly instant, compatible with multiple types of coins, blockchain networks, and ecosystems.
The Hydranet DEX is currently in testnet only, once we are confident about everything, we will move to mainnet version (TBD).
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