1 year ago

OVERVIEW
Hashflow is a decentralized exchange that offers 0 fee, no slippage swaps across different chains. It’s the kind of project that will make the life of everyone in DeFi much easier, but it also has some major obstacles before it gets to wider adoption..

THINGS I LIKE
Price quotes are executed off-chain. According to them, this allows for zero slippage and better pricing.
No need for using bridges to swap between chains, because of the transaction execution off-chain. As we know, bridges can be a security flaw.
The token got listed right away to pretty much all major exchanges. This doesn’t happen too often and it’s overall a good sign. One of the reasons for this is that these exchanges are early investors in the project.
Regular AMAs with the team in their Discord. The team is doxxed and are very engaging with the community. This to me is always a good sign.

MY CONCERNS
Early investors hold around 160 million tokens (16% of supply) purchased at $0.02. Vesting is 1 year, so I expect these to dump a major part of the 16% of the supply. Keep in mind the current price is around $0.50
20% of the token supply is dedicated to the creators. I think this is also a risk after the first year of vesting is done. Together with early investors, they make a significant part of the overall supply.
When trying to use the app, I had a few major issues. Attached screenshots, but in short there was no liquidity for an ETH/USDT swap on ETH network. Also, it’s not letting me swap between chains. I asked the team about the swap between networks, cause pretty much this is their unique selling point. Turns out, they don’t have enough liquidity to do this. Part of the blame is due FTX’es collapse. Or at least they claim so.
Daily users and trades have been decreasing in the past month. I couldn’t find a dashboard showing previous months to compare.
The token is mainly used for governance. They are trying to gamify the community with various activities, but to be honest I don’t see how this is giving any kind of value to the overall project. Feels like more like we have this token that doesn’t do anything, but let’s try and build a “web3” community around it cause it sounds cool. There are still details to be released on this, so I will keep an open mind.

FINAL THOUGHTS
While the idea of HFT sounds very attractive, the liquidity issues that they are facing could be a major challenge for their overall success. I’m not planning to accumulate this token, but I’d be interested in taking some trades. Price has been quite stable and it seems to be forming an accumulation range. A break above the range can be a really nice setup if:
The narrative of DEXes continues playing out
They start delivreing and users/liquidity start growing

Keeping this on my main watchlist.

RESOURCES
https://hashflow2.metabaseapp.com/public/dashboard/f4b12fd4-d28c-4f08-95b9-78b00b83cf17
https://docs.hashflow.com/hashflow/
https://app.hashflow.com/dashboard
https://www.hashflow.com/
https://news.hashflow.com/the-hashbeats-issue-7/

#hft

This video is for educational and informational purposes only.
I'm not a financial advisor.
Cryptocurrencies are high risk assets. Be aware of the risks before you decide to invest in any of them.
Do your own research and don't follow anyone blindly.

0:00 Intro
0:27 What's Hashflow?
5:00 Things I Like
10.23 My Concerns
18:07 My Plan
19:15 Price Prediction

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