Welcome to another exciting month of Hydranet! This month HDN broke the 1 Million USD daily trading volume mark! What an exciting time for everyone involved!
Web DEX development
The spotlight of last month, the much anticipated Web DEX is naturally subject to intense and focused development both on the front-end and back-end. The end-to-end testing has been improved, which is a vital step in effective development moving forward. The team is currently invested in how we can optimize the future architecture of the order book. The Lithium network (which as a reminder is our very own state channel solution) is getting gas optimization upgrades, which will enable even more cost effective network operations for the Web DEX. For the Web Wallet part of the DEX, transaction notifications have been implemented and the Web Wallet mobile UI is being developed.
Core DEX development and bug bounties
The Core DEX continues to receive updates and development of new features. This month one of the largest updates of the Core DEX to date was released. Here is a summary of what has been done during November:
- Channel rentals and Orderbook limitations have been raised tenfold, now residing at $1000 (previously $100).
- Fixed wallet issues with scaling
- Fixed issues with transactions
- Fixed issues with corrupted local transactions
- Fixed HDN Pricing bug
- Stats API is finalized and implemented with the stats page front-end
- A second grid bot is being set up for stronger liquidity
The DAO of the future
The multisig team is seeing changes this month as 2 members, McFinity and Onedeveloper are stepping down from their multisig roles. Their positions are furthermore filled by T-Rex and Smurf who both entered their new roles as a part of the DAO Foundation by the start of November. Another member of the multisig, Beljora, will leave his position in the multisig in the coming months, in preparation of which, we welcome iPally as a brand new team member and trusted multisig member!
We appreciate all the contributions made by the past and present multisig members to date, and would like to direct a special thanks to Onedeveloper who will no longer be part of the team, but continue to be a cherished and special member of the Hydranet community.
We want to emphasize that both McFinity and Beljora will continue with their other team duties, outside of multisig.
We were invited to join an X space by Siva, who is interested in using our DEX technology. You can replay the whole space episode here where Hydranet is introduced exactly one hour into the recording.
McFinity is at it again, this time starting a new community member-run group for “Guerilla tactics”. We’re excited to announce the launch of this new TG group dedicated to special social media events, where community engagement is central. All community members who are eager to contribute to this group and the ideas are now welcome to join the movement!
The team is currently working on a Litepaper, giving the project a solid and easy-to-understand overview of what our tech actually does and how, for new investors and other stakeholders.
Tokenomics and the Hydranet Network
The team really got their hands busy and is developing several applications for the good of the project and the community:
- A new reputation system is being investigated, developed and implemented by the team. This month, visualizations were added to display the functionality of the scores. The reputation system will improve governance function.
- The first version of our new stats page is finished and is now available to all of the community! Visit here: https://stats.hydranet.ai/
- The upcoming tokenomics simulator is currently undergoing some code refactoring.
- A Fee/Cost calculator to showcase the bridge use case of Hydranet technology is in development.
- A new, major revision of the Hydranet Tokenomics is being processed and reviewed.
- Started research on possible Titan/Guardian supply and distribution.
Malicious discord link incident [Resolved]
There was an incident during November where our old discord link at the HDN token CoinMarketCap page was hijacked by scammers. This exploit was unfortunately made possible since discord allows the purchase of custom server links, even previously allocated ones. The link led to a scam server mimicking Hydranet, which has since been reported and the Discord link at CoinMarketCap is now updated to the correct one.