Hydranet’s ticker, formerly , has been changed to $HDN after the community voted overwhelmingly in favor of the new name. $HDN is the new ticker name, and it is here to stay. Every website will be properly updated once the new contracts are live.

With that stated, Hydranet DEX make breakthroughs that have put it well over its development goals and targets. March has brought us much closer to mainnet than anyone was anticipating. Let’s jump right in to all the new additions:

EIP-1559 Transactions Now Officially Supported. EIP-1559 enhances Ethereum’s fee system with a “base fee tip” formula. The  is burned and the  is paid out to miners who can be incentivized to process a transaction faster than usual. The goal of this enhanced fee system is to replace the high, auction-style gas fees and inflation of the original system with predetermined fees and deflationary tokenomics. EIP-1559 was first added to Ethereum with the London Hard Fork Update in August of 2021 and has since become the network’s dominant fee system. As of March 5, Hydranet DEX now has EIP-1559 support thanks to the work of onedeveloper!

Watchtowers are Live on Lightning Network and Connext. Watchtowers permanently monitor the blockchain to ensure that no fraudulent activity can alter the channel state, preventing malicious behavior off-chain. On March 19, Hydranet DEX deployed a fully open-source watchtower solution complete with a guide that allows any individual to compile and run their own.

Taker Pays Maker Fees Working As Planned. When one is the “maker” in a transaction — i.e. they post the trade — they will receive a 0.10% “maker payment” when the taker in the transaction pays a 1% fee. This feature received major upgrades with the March 19 update.

Connext DEX Fee Refunds Working Successfully. If a trade utilizing Connext fails, and trading fees were paid out, the user will get the trading fees refunded. This feature is now fully-working with the March 19 update.

Cross-Chain Rental Extensions and SSUI Improvements Ready to Go. One of the biggest appeals of Hydranet DEX is the ability to swap off-chain and cross-chain with a one-coin deposit. One of the older problems in off-chain DEX development was figuring out how to execute Lightning swaps between a coin pair without needing to own a balance and open, active channels for both coins.  were the answer to this, and they make trading in an off-chain environment much more convenient. Once a coin has been moved to a Layer 2 channel, it can be used to rent a channel for a different type of coin or for a different type of Layer 2 network. This entire process has since been automated into the Simple Swap interface, which makes something that used to be fairly complicated and time-consuming to do a very simple and easy process. With the March 19 update, a few old but troublesome bugs have been isolated and fixed. Cross-chain rentals and rental extensions are now stable again, and work has been done to improve the Simple Swap Interface.

Arbitrum Transaction History implrementation. With the March 19 update, Hydranet DEX now supports Arbitrum transaction history directly.

Arbitrage Bot Upgrades. The March 19 update also saw some major upgrade to the DEX’s built-in arbitrage trading bot. Arbitrage will give the DEX a healthy amount of orderbook liquidity that is more accurately reflective of fair market value.

New Token Pair: AETH/BTC. This is one of the most exciting additions of the month. As a coin pair, AETH/BTC represents the next generation of DeFi trading. Using Arbitrum to swap ETH and ERC20s into BTC will be significantly faster and cheaper than using legacy, and Hydranet DEX has made it possible!

DEX Updates are front-and-center this month! It can’t be understated how impressive it is that this much progress has been made in such a short time. Many of the goals realized with the March 19 update weren’t slated to be done until Q2!

In other related news…

ARB Token Airdrop

Arbitrum’s native token, ARB, debuted March 23, 2023 via airdrop to Arbitrum wallets that met certain key criteria for eligibility. At the time of this writing, ARB is not yet one week old. It will take time to see how it will develop from here. Congratulations on the launch! We wish the developers success into the future.

Hydranet Docs Launches

On March 25, Hydranet Docs officially debuted! It has a wiki-style format and will serve as a well-organized knowledge database of tutorials, guides, and documentation. You can explore Hydranet Docs here with the following link. We think it looks great! https://docs.hydranet.ai/

Bonds Available

To fund further development of Hydranet DEX, another round of bonds was proposed at the end of February. They have been selling quickly!

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