DeFi Trading Platform Hashflow Introduces Bridgeless Cross-Chain Swaps
The platform will enable native-to-native swaps, without slippage or pesky cross-chain bridges.
Apr 27, 2022 at 11:22 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/Y7CUBH7JXZC2XPYNFDKGOEHW7Y.jpeg)
Hashflow will enable bridgeless cross-chain swaps. (Akinori UEMURA/Unsplash)
Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
Decentralized finance (DeFi) trading platform Hashflow is offering a new feature to enable bridgeless cross-chain swaps, the company said Wednesday
- Hashflow said its trading platform uses a request-for-quote (RFQ) model, where professional market makers set token prices.
- Unlike Hashflow, most prominent decentralized finance (DeFi) trading platforms use automated market makers (AMM) to facilitate trades, but larger AMM trades can lead to high slippage, which is when the price of a token changes while a swap is in progress.
- With Hashflow, “you're basically requesting a quote from someone who has done price discovery off-chain, so as a result, you're able to essentially get better prices,” Hashflow founder Varun Kumar told CoinDesk.
- Hashflow will enable native-to-native swaps, meaning users will not rely on problem-prone cross-chain bridges and won’t receive “wrapped” versions of tokens when they swap across chains.
- Hashflow’s cross-chain trading feature is currently in Alpha mode and will support swaps involving Ethereum, Avalanche, BNB Chain, Arbitrum and Polygon at launch.
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Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
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Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
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