July gave us Beta. August gave us resilience. Over the past month, we’ve been focused on stabilizing the Hydranet DEX, fixing community-reported issues, and building the tools that will enable its future. It’s been a month of behind the scene progress, bringing us one step closer to a seamless off-chain trading layer.

On the front lines

Fresh out of Beta launch, we’ve been fine-tuning the platform with fixes and improvements that make the overall experience better and, most importantly, address bugs reported by our community. We’ve addressed issues where the wallets could freeze mid-session, improved the real-time updates of order book candles, and handled minor bugs with using various buttons on the interface.

On top of bugfixes, we’re also preparing the groundwork for arbitrage bots that will operate between the Hydranet DEX and external exchanges, currently testing on Binance’s testnet. These bots will help keep trading prices aligned across markets which will improve the trading experience for everyone!

We’re also developing a Liquidity Provider Dashboard, designed to simplify the process of providing liquidity on Hydranet. Since liquidity providers need to stay online at all times, this dashboard will give them a much easier way to manage their positions without having to run the Hydranet application in a browser. While building the dashboard, we’re also validating the API documentation to ensure its fit to be shared with external parties such as liquidity providers and traders.

Behind the curtains

August has been a heavy backend month with a lot of bugfixing and stability work. Some highlights include:

• Wallet syncing — Fixed critical issues where wallets couldn’t sync properly.
• Backup service — Improved authentication logic to prevent connection failures.
• Order book stalling — Fixed cases where updates weren’t being emitted, causing trades to stall.
• SimpleSwap withdrawals — Corrected logic so withdrawals only occur once channels are properly updated.
• Rental Manager — Addressed logic errors where the rental manager tried to engage with channels being in an updating state.

Thank you everyone who’s been testing! These bugs were spotted quickly, and we could resolve them faster.

Another big milestone was the migration of the Lithium sub-graph indexer from The Graph to SubQuery. So, what exactly is the Lithium sub-graph?

In simple terms, it’s the system that keeps the Lithium Network lightning fast. The sub-graph continuously monitors the blockchain for Lithium transactions and stores them in a dedicated database. Thanks to this, users don’t need to scan the entire blockchain when they connect, they can synchronize within seconds.

Migrating this service to SubQuery means we can now manage and deploy new sub-graphs much more efficiently as it will simplify the process of adding new blockchains. More importantly, SubQuery does not impose the same indexing limits that The Graph does. This means our infrastructure can scale without being bottlenecked.

Finally, we’re hard at work on an order book redesign. Some unexplained edge cases surfaced after Beta, and rather than patching, we’re rebuilding core components. The good news: order management (adding/removing orders) and the matching engine between peers are already complete. A few pieces remain before full release, but progress is fast.

Growth and Visibility

While development has been in full swing, we’ve also kept momentum on the marketing front. In early August, we released a feature video introducing Hydranet — the off-chain trading layer. The video saw strong engagement on X and brought a lot of new eyes on Hydranet.

A smaller Telegram beta campaign targeting South Asia was also conducted, and the results showed clear interest in Hydranet and what we’re building. If you’re new to Hydranet and reading this — welcome aboard, we’re glad to have you!

Our Beta Stats Dashboard is also live. Here you can follow Hydranet’s activity and status in real time, including swap volumes, unique traders, collected fees, and more. It’s the perfect way to keep track of how the DEX is performing and expands!

And speaking of growth, we’re excited to share that Hydranet will be present at Token2049 this October. It’s one of the biggest global stages for crypto, and we can’t wait to showcase our vision of an off-chain trading layer to the broader industry. See you there!

As always, your testing and feedback make a massive difference. We can’t wait to get the final pieces of the order book redesign in place and ship a major update to the Beta build! Together, we’re building the future of decentralized finance.

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