Today, many DeFi platforms have employed protocols that make it easy to support more than one network. However, there is still the problem of interoperability. This prompted Hashbon to build the first-ever cross-chain decentralized exchange known as Hashbon Rocket to fix this problem. This development is very important for the DeFi sector because most decentralized exchanges only support intrachain swaps.
This means if you go to popular DEX like Uniswap, you can’t swap ERC 20 for BEP 20. You can only swap ERC 20 for other ERC 20 tokens. The same also goes for PancakeSwap that only allows you to swap BEP 20 tokens for other BEP 20 tokens. But Hashbon Rocket is changing the game from intra-chain to inter-chain. Before we dive too deep, let’s get a clear picture of what Hashbon and Hashbon Rocket are all about.
Hashbon was initially founded in Europe in 2016. It aims to be a fully-fledged crypto payment gateway and wallet for globally accepting, transferring, and exchanging cryptocurrency transactions. In 2021, they increased their expansion to the crypto ecosystem through Hashbon FiRe, striving to FInancially REvolute both the (CeFi) Centralized Finance and (DeFi) Decentralized Finance crypto markets.
Hashbon Rocket makes it easy for users to connect Ethereum and BSC in order to exchange ERC-20 and BEP-20 tokens. Hashbon Rocket CDEX uses a Proof of Stake consensus mechanism that is run by people called Arbiters.
Arbiters make decisions, and their strength is based on the number of HASH tokens that they own. Anyone can decide to become an arbiter on Hashbon as long as they are a HASH token holder.
Arbiters’ role is quite similar to miners’ in the Proof of Work consensus mechanism utilized by Bitcoin and other platforms. Arbiters verify token swaps, which means every confirmed transaction depends on the correctness of the information arbiters provide. The only difference is that if an arbiter provides wrong information in this case, he gets penalized severely by losing a huge portion of his stake.
Hasbon Rocket is the first-ever cross-chain decentralized exchange that enables users to trade ERC20 tokens for BEP 20 and vice versa without hassles while also creating liquidity pools. Presently, Hashbon Rocket only supports Ethereum and BSC. However, with the way Hasbon Rocket is growing, users will be able to trade tokens native to EVM compatible chains such as Solana and Polygon (MATIC) in the future.
Hashbon Rocket platform also makes it possible for users to earn passive income by becoming a liquidity provider. What you need to do is go to launch Dapp on the Hashbon website and connect your metamask wallet. After doing that, you can then proceed to “create a new pool” on the site and fill in all the necessary information. Done with that? Click on approve, and then Voila! Your liquidity pool is up and running. That’s all you need to become a liquidity provider on Hashbon and earn steady passive income. There are also additional rewards that come with being an LP on Hashbon Rocket if you do decide to become one. Visit the official Hashbon Rocket website to get all the necessary information you may need.
