Review HurricaneSwap ($HCT) – The 1st Cross-chain Liquidity DEX on Avalanche

April 22, 2022 - Around 6 mins mins to read

HurricaneSwap aggregates many public chains and establishes itself as a DeFi aggregator with a very clear ecological positioning.

What Is HurricaneSwap ($HCT)?

HurricaneSwap is the first Avalanche-based cross-chain liquidity DEX. Users can trade popular assets from other chains without leaving Avalanche because of the innovative LP-Bridge mechanism. Additionally, HurricaneSwap leverages the benefits of Avalanche to give users a high-performance, low-slippage, low-cost, and seamless cross-chain trading experience.

Recently, Hurricaneswap announced the launch of its NFT platform, which is the first cross-chain marketplace and DeFi solution built on the Avalanche blockchain. Hurricane’s NFT marketplace enables users to trade NFTs on any network, saving significant time and fee/swapping fees. There will be a plethora of chains accessible, including Ethereum, Binance Smart Chain, Solana, Fantom, and Polygon.

How Does It Work?

HurricaneSwap is a set of asset cross-chain, trading, and arbitrage tools, which include a cross-chain bridge (Roke Protocol), a source chain assets’ station (HurricaneStation), and a verification node alliance (HurricaneAlliance), and a decentralized exchange (HurricaneSwap).

The Roke Protocol (LP-Bridge) enables users of Avalanche to exchange popular assets from other chains without leaving Avalanche.
HurricaneStation users can receive LP incentives by adding liquidity to several chains using HurricaneStation.
HurricaneAlliance As verification nodes, you can receive incentives for ensuring the correctness of cross-chain transactions. Narrow price gap by arbitrage.

Outstanding Features

HurricaneSwap is an advanced cross-chain swap on Avalanche that combines great performance and cheap fees with a seamless user experience. It is aimed toward three primary properties.

Decentralized: HurricaneSwap is an anti-censorship platform that anybody can use without KYC verification. It also indicates that there would be no centralized control on this platform.
Secured: HurricaneSwap was designed to guard against money laundering and financial damage as a result of hacking assaults. Its novel LP-bridge, dubbed Roke Protocol, features a bidirectional verification method that makes volume copying attacks on HurricaneSwap very impossible.
Advanced: In comparison to other cross-chain bridges, there is no bridge fee; instead, there are trading fees on HurricaneSwap, which are five in total and far lower than those on other bridges. Additionally, it takes only two steps, or about 15 seconds, to complete a cross-chain asset trade, drastically lowering the cost for users.

Hurricane NFT ($NHCT)

Hurricane NFT (https://www.hurricanenft.io/) is the 1st DAO-based cross-chain NFT market & NFTFi platform on Avalanche.

The 1st cross-chain NFT DEX is based on Avalanche, through which users can trade NFTs on any chain and save a lot of time and cost for cross-chain NFT transactions;
An NFTFi Platform, which will focus on exploring NFT financial derivatives such as NFT fragmentation protocols, insurance and options to make NFT a more credible investment target and realize the financialization of NFT.

The 3 main features are cross-chain NFT market, NFT Voucher, and NFTFi services such as NFT fragmentation, lending, and options.

By holding or staking Hurricane NFT governance token (NHCT), users can participate in the growth of Hurricane NFT and benefit from it, including fee discounts, dividends from platform fees, etc.

Roadmap

Key Metrics

Token Name: HurricaneSwap
Ticker: HCT
Blockchain: Avalanche
Token Standard: ARC20
Contract: 0x45C13620B55C35A5f539d26E88247011Eb10fDbd
Token Type: Ultility, Governance
Total Supply: 2,000,000,000
Circulating Supply: Updating

Token Allocation

Token Sale

Their public sales proceeded on the following:

HurricaneSwap.com — September 26th 2PM UTC — Allocation: 100K USD
DuckStarter — September 26th 2PM UTC — Allocation: 100K USD
Westarter — September 26th 2PM UTC — Allocation: 50K USD
Zb.com — Sep. 26th 2:00 PM UTC — Allocation: 20K USD
MEXC — September 26th 2PM UTC — Allocation: 80K USD
Avalaunch — October 4th 6AM UTC —Allocation: 250K USD

Token Release Schedule

The total supply of HCT at launch will be fixed to 2,000,000,000. The planned allocation is as follows:

60% yield farming: 1.2 billion HCT in total, releasing 1 million HCT per day once HurricaneSwap is launched.
4% growth fund: 80 million HCT in total, used for marketing and brand building.
10% for HurricaneAlliance, totalling 200,000,000 HCT, releasing 300,000 HCT per day after the Token Generation Event (TGE).
10% HurricaneSwap Team: 200 million HCT in total, locked for 6 months once Hurricane Swap is launched, followed by a 12-month linear release.
11% round A investors: 220 million HCT in total, locked for 3 months once Hurricane Swap is launched, followed by a 12-month linear release.
4% round B investors: 80 million HCT in total, locked for 1 month once Hurricane Swap is launched, followed by a 12-month linear release.
1% IDO: 20 million HCT in total.

Token Use Case

HCT Governance: HurricaneSwap is a community-driven decentralized project. After the mainnet launch, the HTC holders are expected to vote on any amendment of the protocol. Each holder’s vote counts are proportional to the number of tokens they own.
Repurchase: The 0.1% in trading fee will repurchase HCT and Airdrop to xHCT holders.
Vote/Stake for Listing: HurricaneSwap initially supports limited trading pairs. In addition to the initial trading pairs, holders of HCT can use voting or staking to list the popular assets of each source chain to create trading pairs on HurricaneSwap. HCT holders can initiate a coin listing proposal through the above governance process, and it will be listed if they get a majority of votes

Backers

Team

The founder Symington W. Smith graduated from Peking University with a bachelor’s degree and graduated from King’s College London, and is also a venture capitalist

Investors

HurricaneSwap recently raised a total of 3.6 million U.S. dollars in funding, with Avalanche’s official Asian industry fund AVATAR and LD Capital participating in initial rounds totalling over one million U.S. dollars and then raising over two million U.S. dollars. Along with seed investors AVATAR and LD Capital, numerous exchanges have their own investment departments, including Huobi Ventures, KuCoin Labs, PrimeBlock Ventures (MEXC Labs), and Gate.io Labs.

Partners

Verdict

By delivering more different cross-chain assets, HurricaneSwap intends to attract more $AVAX holders and traders and therefore increase value in the Avalanche ecosystem. It will collaborate actively with exchanges and wallet service providers, beginning with DEX, and will expand into lending, insurance, asset management, and cross-chain IDO in order to accelerate the DeFi ecosystem on Avalanche, and increase capital inflows, and build a more prosperous DeFi ecosystem for Avalanche.

Find more information:

Website: https://hurricaneswap.com/

Twitter: https://twitter.com/HurricaneSwap

Telegram: https://t.me/HurricaneSwap

Discord: https://discord.com/invite/s2Y7wanVyQ

Medium: https://hurricaneswap.medium.com/

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures

DeFi Reviews, DeFi, Knowledge