We are proud to release the proof of concept (POC) testnet version of our Hydra Bridge!
Please note that we are aware that it has some bugs left, yet we wanted to release an initial version. This idea was taken over by the old team, but we soon realized it won’t be easy as initially planned. Read more about this at the end of this article.
What is the Hydra Bridge?
The Hydra bridge is basically a bridge aggregator. It searches for the best rates on available bridging services and offers a route to that bridge as a service. It helps to ensure the best price on your transaction and in return for that service, charges a small fee.
Example: A user wants to bridge USDC from Ethereum to Arbitrum. There are multiple bridges between those functions, and the aggregator pings each one looking for all available bridges. The aggregator then gives you the options and allows you to choose the cheapest/fastest/preferred bridge service, and routes your funds through it for you.
How to test the Hydra Bridge?
You can test the Hydra Bridge here:
1. Go to https://bridge-dev.hydranet.ai/
2. Connect your Metamask wallet
3. Switch to “Goerli Network” in Metamask
4. Choose the Goerli Network
5. Choose the Currency you like to bridge at “Send”
6. Input the amount you like to bridge
7. Click Approve, confirm the transaction in Metamask
To get goerli ETH or USDC, you can use our goerli-faucet bot at Discord:
Join here and tell the bot if you want ETH or USDC, then add your address. Format: currency-youraddress
Or use one of these faucets: https://faucet.paradigm.xyz/ or https://faucets.chain.link/goerli
This idea was taken over by the old team, but we soon realized it won’t be easy as initially planned. Yet we kept on working on it, to be able to release some initial version.
There are performance issues on the APP and you will see some flashes showing up while interacting with the forms input and select. The redesign has been done, however, to launch on mainnet we would need to refactor the architecture of the app because this hasn’t been modified yet.
We decide to have a vote about it because this will drain a good amount of resources and time to push this bridge to the mainnet.
After some internal discussions, and analyzing the market, and our current situation, we agreed that the development team’s primary focus should be on the DEX ecosystem itself.
Our EVM dev, Rimatik will be leaving us very soon. Another factor we have to consider is that it will be difficult to implement a sustainable fee income here, making it difficult to justify further development.
But to make sure we are on the same page here, we have created this snapshot vote:
Should the development team focus only on the DEX?
- YES, focus on DEX only
- NO, work on the bridge too
The duration is 2 days, you can vote here: https://snapshot.org/#/hydranet.eth/proposal/0x1f4358e5b4af404659c37171256ad832ae758c518a156090bca1dd0efe928395
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