Trading fee implementation marks the next step in Hashflow’s impressive growth story that will generate revenue for the protocol and community
MIAMI, November 03, 2023 – (SeaPRwire) – Hashflow, a leading multichain decentralized finance (DeFi) trading platform, announced today that it will be enabling fees on the platform to create the first revenue stream for the protocol and offer additional benefits to its community of HFT token stakers, as directed by the Hashflow DAO. Through this revenue-sharing format, which distributes proceeds from trading fees amongst token stakers as well as the Foundation, Hashflow sets the stage for the next chapter of its growth.
Starting today, a nominal fee will be included on each trade executed on Hashflow. As stated in the community-led DAO proposal, the fee model will be dynamic, based on the asset pair traded. The trading fee will be baked directly into the price quote, paid automatically when the trade is executed, and trackable on-chain.
Varun Kumar, co-founder and CEO of Hashflow, commented on the news: “We are pleased to announce that Hashflow will be turning on trading fees starting today, after the approval of the proposal via DAO governance. This is a major milestone for the protocol, which we believe will strengthen Hashflow’s position as a leading multichain decentralized exchange. By distributing fee proceeds amongst token stakers as well as the Foundation, this proposal creates a sustainable model that will benefit all stakeholders in the Hashflow ecosystem.”
Trading fees will be implemented in a way that does not impact trading volume, a key consideration when the vote was passed through the DAO. This dynamic structure allows fees to adapt to live market data in real-time, adjusting roughly every five seconds. This allows for fees to be optimized to ensure quotes remain competitive. The fee distribution will operate as follows: 50% to HFT stakers, 30% to the community treasury for HFT buybacks, and 20% to the Hashflow Foundation for operating expenses. Protocol revenue from the trading fees collected will be distributed to token stakers on a monthly basis.
Hashflow is a unique multichain DEX that provides traders with guaranteed price quotes and full MEV protection. It has facilitated over $17B of trading volume since launch in April 2021. In a continued effort to enhance the Hashflow experience for community members, the company recently launched the Hashverse, a gamified team-based trading competition platform on Hashflow that engages traders and leading Web3 communities in novel ways.
For additional information, please visit: https://hashflow.com/
Hashflow is a multichain decentralized exchange (DEX) that enables users to trade digital assets on leading blockchains including Ethereum, Arbitrum, Avalanche, BNB Chain, Optimism, and Polygon in just a matter of seconds. Unlike AMMs, Hashflow leverages a request for quote (RFQ) model to provide traders with guaranteed price quotes directly from professional market makers (PMM), eliminating inefficiencies prevalent in decentralized finance (DeFi) including slippage and MEV. Since launching in April 2021, Hashflow has facilitated over $17B in total trade volume, making it a top 10 DEX.
Hashflow’s team consists of top minds from both web2 and web3 including Airbnb, Amazon, Arbitrum, Booz Allen Hamilton, Creative Artists Agency, Goldman Sachs, Google, Meta, Citadel, Genesis Trading, NASA, NBCUniversal, Twitter, Uber, Vayner3, and more. Backers include Dragonfly Capital, Electric Capital, Coinbase Ventures, Galaxy Digital, GSR, Wintermute Trading, Balaji Srinivasan, Meltem Demirors, Anthony Sassano, and Jason Choi. For more information, visit hashflow.com.
The article is provided by a third-party content provider. SeaPRwire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith.
Sectors: Top Story, Daily News
SeaPRwire provides press release distribution services to global clients in multi-languages (Hong Kong: AsiaExcite, NetDace; Singapore: SingdaoTimes, SingaporeEra, VOASG; Thailand: TatThai, THHere; Indonesia: BeritaDaring, TekanAsia JamKopi; Philippines: PHHit, PHBizNews; Malaysia: DataDurian, TeleSelatan PressMalaysia; Vietnam: VNWired, HanoiPR; Arab: ArabsPR, ArabLatest; Taiwan: LiteTW, HereFN; Germany: BizNachrichten, DeutschenMe)