HESH.FI offers a low-fee automated market maker (AMMs) exchange along with yield farming opportunities for users. It runs over Ethereum with the scalability of ‘layer-2’ platforms. The protocol would also offer social tokens and non-fungible tokens (NFTs) and plans to launch on the Polygon network initially.
AMMs, for the uninitiated, are smart contract-based DEXs that allow users to trade cryptocurrencies in a wholly permissionless manner via the use of decentralized liquidity pools (as opposed to the traditional market where buyers or sellers could be centralized). Most AMMs run on a certain blockchain and allow users to trade cryptocurrencies and tokens related to that particular blockchain. This means an Ethereum-based DEX can only facilitate the trading of Ethereum and other ERC20 assets (and not tokens issued on Tron, Solana, or Binance Smart Chain).
HESH.FI solves just that. Whenever a user requests a trade on the platform, its ‘nodes’ search different blockchains to fill the order at the lowest slippage possible. This means, for example, that a user wishes to trade ETH/USDT via HESH.FI using the Ethereum network, the protocol would try and find a better trade on a different blockchain (say, Solana) and execute the order.
As such, the nodes themselves use Router Protocol’s cross-chain bridges to allow information- and value-transfer between different HESH.FI nodes. For the uninitiated, Router Protocol is building a liquidity super mesh connecting multiple cross chains; currently, the testnet supports Ethereum, Polygon, BSC, HECO, and Avalanche, and soon Algorand, Solana and Terra will be added as well.
The nodes are spread across multiple Layer 1 and Layer 2 blockchains and allow HESH.FI to act as a multi-chain DEX, meaning users can conduct their on-chain, permissionless trades seamlessly across several blockchains from a single interface.
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