- Hashflow raised $25m in a Series A funding round, bringing its valuation to $400m
- The more tokens users own and the longer they stake them, the more voting rights and influence they have
- Participants in the Hashverse will be able to actively complete quests and earn experience points
Hashflow, a decentralized exchange designed for interoperability and MEV-protected trades, has announced the launch of its native HFT token. Investors who own HFT will be able to vote on the project's future and receive special rewards in the Hashverse, the first-ever gamified, storyverse-driven DEX governance platform.
Earlier this year, Hashflow successfully raised $25 million in a Series A funding round, bringing its valuation to $400 million, Bankless Times learned from a press release.
Native to the Hashverse
$HFT will be an ERC-20-based token native to the Hashverse. The more tokens users own and the longer they stake them, the more voting rights and thus influence they will have over the project's future. Key decisions within the Hashverse/DAO include protocol fees, marketing, and code development.
Staked tokens will also be used to determine users' health in the Hashverse, which will play a major role in determining rewards. Participants in the Hashverse will be able to actively complete quests and earn experience points. Together with a user’s health, this will allow them to redeem rewards as extra HFT.
Community owns majority of protocol
To decentralize ownership of HFT, the community and ecosystem partners will own the majority of the protocol. As such, they will receive 53% of the HFT supply. The token will be available for retail purchase starting on its launch date, Nov. 7th.
Upon launch, Hashflow will become the 31st project to be featured as part of the prestigious Binance Launchpool platform, and the only project to be included since April 2022. Hashflow CEO Varun Kumar said:
We would like to express our deep gratitude to everyone who has been involved in the Hashflow story in any capacity. This journey started with a mission to disrupt the DeFi experience by rethinking how prices are quoted, markets created, and value traded. Since then, we’ve seen our product significantly expand, gaining recognition, users, and volume. We are thrilled to launch our native token and take the first step towards making Hashflow a community-owned protocol.
Contributors
