Just last month, history was written as Hydranet DEX made its very first trade on mainnet. But that’s not all! This month, we got to witness another fantastic achievement as the first aETH/BTC trade was completed successfully! We are all bursting with joy, excitement, and anticipation for this groundbreaking tech! But before it is released to the public, we’ll have to settle with reading about its ongoing development in June’s edition of the monthly update.
Phoenix closed testgroup.
A closed testgroup was formed at the beginning of June. This group consists of 10 dedicated souls that eagerly feed our developers with feedback on their Hydranet DEX mainnet experience. So far, their feedback has led to updates that aim to solve issues related to connection timeout, wallet balance presentations, transaction history presentations, and expired rental channels. The team and community are least said grateful for your dedication!
The closed testgroup is currently limited in the number of participants, for a good reason. Real funds are being used this time, and the last thing we want is for someone to lose money because of misunderstandings. The rest of us need to wait just a little longer before we can lay our hands on this marvelous piece of technology!
In mid-June, a session was organized for peer-to-peer trading within the closed testnet group. During this session, the liquidity bot was deactivated, and the DEX orderbook was filled solely with orders from users. This arrangement guaranteed that users were engaging in direct trades with one another, rather than with a bot. The trading pair used for these tests was aETH/HDX and the session concluded with great success!
First aETH/BTC trade
June offered the first aETH/BTC swap! Really exciting news! Shortly after the successful swap the closed testnet group received an updated version of the DEX with LND (Lightning Network Daemon) and BTC enabled. Happy testing, guys!
HDN token updates
The development of the new HDN token is progressing nicely! The new contracts were deployed to the Goerli testnet last month, during which a new superb version of the Bonds page was also demoed. This month, the community was invited to test the new Bonds page! A link to the new page is found here. The new Bonds page is hooked to the new HDN contracts deployed on the Goerli network. So, make sure you don’t interact with the page using real funds!
Currently, the final details of the HDN airdrop are being ironed out and the latest news is that the snapshot and airdrop of the HDN token will happen early-to-mid July. More information will of course be shared via Hydranet’s social media channels!
The team also spent June collecting offers from different audit companies. An audit of the new HDN contracts is beneficial from many perspectives. Not only can it detect potential security flaws, but also increase the credibility of the project among users and investors.
Why a new token? Give this article a read!
Remember, trust only Hydranet’s official communication channels! Team members will never ask for your login credentials, private keys, ask you to sign transactions, or ask for payment in return for support! Beware of scammers! Read more in this article.
CoinGecko and Instagram ads!
The marketing team made efforts to advertise Hydranet on CoinGecko and Instagram this month. With that being said, keep your eyes open for one of Hydranet’s banners on these platforms! Valuable experience was gained from these ad campaigns and it was decided that future marketing efforts will continue to focus on Google ads, as this method has shown to be significantly more cost-effective!
The team was approached by a fellow WhiteBit representative asking if Hydranet would like to sign up for DemoDay, an event hosted by PitchTalk in collaboration with WhiteBit. The immediate and obvious answer from the team was of course — Yes! There is no guarantee that Hydranet will obtain a slot at this event, but if we do, the event will take place in the middle of July. Every participating project on DemoDay will be given 10 minutes to demo their project, 10 minutes of AMA, and 5 minutes of discussion about future plans. This is definitely a great opportunity for Hydranet to reach out to a wider mass of investors, communities, and other projects. Fingers crossed that we are invited! Read more about DemoDay here. The team will of course provide further details about DemoDay as soon as they become available.
Circulating supply and rank
Efforts were also made to update the HDX token information on CoinGecko and CoinMarketCap. The primary goal was to get the token ranking correct. And this is now the case, at least on CoinGecko. Unfortunately, Hydranet is still missing some of the requirements to get the circulating supply verified on CoinMarketCap, which in turn affects the token ranking. We will have to wait patiently a little longer for this one.
Next up will be to get rid of the mint warning text on CoinGecko. This will be taken care of after HDN is live on mainnet!