Hashflow, a San Francisco decentralized trading platform that connects traders directly with professional market makers, announced Thursday on Twitter it is partnering with Magic Eden as it relates to its newly announced “Hashverse” DAO.
Hashflow is creating “Enter the Hashverse,” a new NFTs collection that will grant minters exclusive utility in the Hashverse, which will be made available on Magic Eden Launchpad.
The Magic Eden Launchpad is an in-house collection partnership program. They operate a website where users can access and interact with an independent smart contract protocol to mint new NFTs to the blockchain. The team helps with all the technical aspects as well as marketing for the collection.
It is the first-ever Ethereum-based collection on Magic Eden which will include mystery box NFTs that will afford users unique utility within The Hashverse.
Enter the Hashverse
By using gamified quests and an accessible rewards system, The Hashverse changes the narrative of a traditional DEX, making governance accessible to everyone through today’s oldest form of education – storytelling.
The Hashverse is the first-ever storyverse-driven, gamified governance platform. Its aim is to bring Web3 communities together to enjoy an immersive experience where users can complete quests, earn rewards, and decide the future of the protocol.
Developed by Hollywood creative agency Superconductor, The Hashverse is set in a dystopian world blending ancient culture with advanced technology amidst the backdrop of a centuries-long conflict that is primed to reach its conclusion. The Enter the Hashverse collection visual art will be designed by Luca Nemolato, whose work has been featured in major productions from Disney, Marvel Studios, HBO, and more.
The Hashverse represents the collective of token holders that will decide the future of the Hashflow protocol, but with a twist. According to Hashflow, the company’s goal is to make governance inclusive across all Web3 communities and to allow anybody to participate and earn, regardless of whether they’re a DeFi degen, an NFT fan, or a GameFi junkie.
By combining these elements, The Hashverse creates an immersive experience for all users to unlock and complete quests, collect and trade in-game artifacts and loot items, upgrade their characters, and earn real rewards, all while helping to forge the future of the protocol.
“We are creating a new, level playing field where anyone can rise through the ranks to govern the protocol, all while enjoying an interactive experience,” said Hashflow co-founder and CEO Varun Kumar. “We want to change the existing paradigm that governance is boring. The Hashverse is designed to make governance an exciting, inclusive, and rewarding experience that anybody can participate in.”
The artwork and further details about the collection (i.e. supply, whitelists) will be unveiled gradually over the coming weeks.
In October, Hashflow further popularized the “request-for-quote” (RFQ) model in DeFi, disrupting the traditional trading experience offered by AMMs like Uniswap and PancakeSwap by joining the ranks of the top DEXs in just a little over a year since its inception.
Hashflow’s RFQ model allows users to receive quotes directly from leading market makers, which enables guaranteed price execution (zero slippage) and maximum value for users on every trade. Its novel approach has also made cross-chain trading without bridges or synthetic assets possible for the first time in DeFi.
In July, the DEX announced that it had raised $25 million in its most recent Series A seed round, following on the heels of its $3.2 million seed round last year.
The recent venture raise brings the company’s valuation to $400 million. Leading investors included Dragonfly Capital, Electric Capital, Jump Crypto, Wintermute, GSR, Coinbase Ventures, Kraken Ventures, Galaxy Digital, and more.
“The growth that we’ve experienced in such a short period of time has been nothing short of amazing, and it’s a testament to the fact that Hashflow offers something different and valuable to the market,” said Hashflow co-founder and COO Vinod Raghavan.
“Despite macro conditions, we will continue to do what we’ve been doing, and that is to build and deliver the products that users want.”
Launched in August 2021, Hashflow has since become a top 10 DEX, currently averaging $25 – 30 million in daily volume and 1,800+ DAU (Daily Active Users). It also surpassed $1 billion in volume on Polygon and Avalanche in less than six months, highlighting the user appeal of its additional chain deployments. It currently has six in total with more slated for the near future.