This has been Hydranet’s most exciting month since its inception. The first mainnet trade with real funds was completed on May 25, 2023, when .0015 AETH was swapped for 64,498.89216638 HDX at 15:20:20 CET. After 1 year and 4 months of strenuous development with testnet chains and testnet funds, Hydranet DEX mainnet is in clear sight. An official launch is expected following a round of tests with high frequency bot trading and the Phoenix testing group. In the meantime, you can watch live trades here.

Client Side Code Changes since Q1 2022

On May 25, a quick count was conducted to determine the total number of code changes to the client side of the DEX since the start of 2022:

- 498 Files Changed
- 133,166 Insertions
- 21,239 Deletions

Again, these metrics are just for the DEX client! The DEX hub has also been reworked dramatically in this timeframe.

Servers and Service Providers for Mainnet Test-Pilot

During the DAO’s May 6 expense update, it was announced that the team procured their first server specifically for handling the mainnet test-pilot. The first service provider was secured by May 8. One of the initial goals during the first few weeks was ensuring that testnet and mainnet chains behaved 100% identical on the DEX, and isolating any hardcoded barriers so that switching back-and-forth between the networks is perfectly seamless.

DEX Mainnet

Bitcoin and BTC Explorer were the first respective pair and blockchain explorer synced on mainnet. GETH mainnet followed. After extensive review, Connext contracts for ETH ARB were deployed to mainnet as well. Mainnet Pricing & Channel Deployments were deployed shortly thereafter.

HDX-based fee reduction is now under review by the orderbook team.

Hydranet Bonds: New Coin Pairs, New UI

Bonds can now be purchased with WETH, DAI, USDC, USDT, and ARB.

The current Bonds page is undergoing a major upgrade that makes it both more functional and stylish. Its implementation should be going live shortly! A picture is worth 1000 words.

The old page!
The new page!

See a video demo of the new Bonds page here!

HDN Airdrop

As mentioned in the previous two recaps, a vote was taken to officially replace the HDX ticker with HDN and won in an overwhelming majority. When it is all said and done, the new HDN token will be airdropped to everyone with no further action required of holders.

HDN will make its first public debut in testnet, hooked to a frontend that allows community interaction. The official airdrop date will be communicated in advance to give liquidity providers the time they need to switch.

The HDN testnet contract was deployed mid-May, with improved bonds (testnet) contracts.

Remember! Team members will never contact you directly regarding the HDN airdrop! If you get a private message about this topic, it is a scam!


Hydranet has continued ramping up its advertising in Europe! Native language advertisements for Hydranet are now run in France and Italy. Ads were first run in Spain towards the end of April!

Hydranet is now listed as one of the projects on LDK’s Case Studies page. Check it out here!

Coingecko has been contacted to ensure that the token supply information is updated accordingly.

Website Updates now has a Featured section at the bottom of the page, showcasing websites where Hydranet has been showcased.

The Featured section on the Hydranet website

The DEX page has also been updated to better highlight unique features.

Scammers in the Crypto Space

At the start of the month, the Hydranet Staff published an advisory article titled “Scammers in the Crypto Space”. We highly recommend that everyone in the community reads it. It runs through several different scenarios that scammers may use, from social engineering, to malicious smart contracts, to phishing scams, unexpected token approval tx, and more.

This concludes the Hydranet Monthly Recap for May 2023. Mainnet is no longer “in reach”. It’s live and growing stronger everyday. Congratulations to our developers for making this a reality, and congrats to our marketing staff, UX designers, and web teams on an excellent month. We eagerly look forward to June!

Again, these metrics are just for the DEX client! The DEX hub has also been reworked dramatically in this timeframe.