In response to the problems of high ethereum gas fees and slow transaction speed, exchanges such as Coinan and Firecoin have launched Coinan Smart Chain (BSC) and Firecoin Eco Chain (Heco), focusing on low fees and high transaction speed. On May 1, HSC was officially launched, becoming the third largest exchange public chain after BSC and Heco.
In order to accelerate the development of the alliance ecology, HSC will open the first phase of “HSC Unicorn Program” and developer recruitment campaign on June 15, encouraging global developers to develop, deploy and operate dApps on HSC, and giving cash rewards and ecological resources support to developers of high-quality projects. In particular, infrastructure projects and cross-chain assets, IDO platforms, machine gun pools, games, stable coins, derivatives, arithmetic coins, NFT and other tracks are encouraged. The project’s locked capital volume, number of user addresses, number of active transactions on the chain, and user reputation will be taken into consideration in the project scoring. The “HSC Unicorn Program” evaluation team will evaluate the product performance, on-chain data, market reputation, and project potential.
Tiger Smart Chain HSC
HSC is developed by Tiger Fu technical team and positioned as a side chain of Ether, compatible with smart contracts on Ether, BSC and Heco chains, HSC adopts PoSA consensus mechanism, with a block release time of 3 seconds and a TPS of 500, and 21 nodes participate in the consensus process. Anyone can run for the consensus node of HSC through Staking. In addition, through the cross-chain asset bridge, various mainstream assets can be mapped to HSC to realize the free flow of cross-chain assets. Each transfer costs less than 0.001USD.
Soon after its launch, HSC has already attracted several projects from decentralized exchanges, decentralized lending protocols, NFT and other tracks, and the total on-chain lockup exceeded USD 400 million in 3 days.
Compared with BSC and Heco, the concept of “Eco-Alliance” proposed by HSC is a highlight.
The core concept of HSC Eco Alliance is to provide “developer service”, that is, to pool the strength of the alliance to serve all developers on HSC. The alliance will provide multi-faceted support for developers’ needs, including but not limited to exchange coin listing, project promotion, project investment and financing, liquidity provision, technical support, etc. As the initiator of HSC Eco Alliance, Tiger Exchange will contribute 1 million HOO tokens as the initial operation fund of the alliance.
Currently, HSC has partners such as Token Pocket, MetaMask, and Bitpad on the wallet side, and cooperates with mainstream media and rating agencies such as Chain News, Block Rhythm, Daily Planet, Golden Finance, and TokenInsight on the column media side, and auditing agencies such as Slow Fog Technology, Certik, and Spirit Tracer Security. As you can see, alliance partners are the best in the industry.
From the perspective of users and developers, the wallet side integrates the HSC chain and dApps on the chain, so that users do not need to add chain IDs, RPC and other operations, and also provides users with a convenient entrance to access dApps; column media provides a platform for dApp developers and users to publicize projects and a channel to understand projects; auditing agencies provide a platform for dApp developers and users to promote their projects. For users without programming background, the smart contract audit report issued by professional organizations can often enhance their confidence in entering and prevent the possible loss of user funds caused by malicious projects.
In addition, HSC Eco-Alliance has also set up a “Developer Support Program” where developers can seek help from the alliance by paying HOO tokens, and alliance members can submit solutions for developers’ needs. The Alliance will evaluate the submitted solutions, and if the solution can effectively solve the needs before and within 15 days after the chain, the Alliance will reward the solution provider with 50% of the HOO to encourage the active solution of the developer’s problem.
The solution proponent who provides the service will also receive the Alliance member certification token HH, and by accumulating the number of HH, he/she can enjoy additional benefits and even the exclusive benefits of Alliance members; in addition, if the solution proponent proposes the solution before and within 15 days after the uploading, if his/her project is deployed on HSC and continues to operate for 90 days or more, he/she will be fully refunded for the cost of initiating the solution. refunded. In other words, developers can get the business and technical support from the Alliance at zero cost.
If the requirement is repeated, the Alliance will offer 50% of the original solution price to the solution requestor, making it economical and efficient to solve the same requirement of the developer. HSC Eco-Capital will also take the lead in investing in quality projects on HSC, reinvesting 40% of the alliance’s operating income, 50% of the alliance’s dividends, and 10% of the fund’s management fee and promotion expenses.
In summary, HSC Eco Alliance provides “one-stop” service for dApp developers, basically solving the problems of the whole chain, lowering the development threshold and cost, and helping to accelerate the development of HSC Eco, while supporting quality projects in the chain can also attract market enthusiasm and feed the future development of HSC itself.
Within 3 days after the main website was launched, the total locked position on HSC exceeded USD 400 million. Currently, HSC has attracted 15 DeFi projects online.
PuddingSwap is an automated market maker DEX on HSC, and the innovation of PuddingSwap is its triple mining mechanism compared to other automated market maker DEX.
The triple mining mechanism allows users to provide liquidity to multiple currency pairs (e.g. ETH-USDT pairs) to receive PUD token rewards. Users can also pledge PUD tokens for single coin mining to get ePUD token rewards. Holding ePUD tokens not only gives you PUD tokens per block, but also other tokens such as HOO and LDT by pledging them in the ePUD pool.
The total number of PUD tokens is uncapped, with each block generating 20 PUDs. 3 seconds per block means 576,000 PUDs are generated per day, of which 460,800 are generated from the LP pool, 115,200 from the single coin pool, and an additional 57,600 to the developer address. Liquidity mining and transaction mining will generate a 0.25% fee, of which 0.15% is allocated to the liquidity provider, 0.05% is deposited in the vault, and 0.05% is used to buy back and destroy PUDs.
PuddingSwap’s smart contracts have successfully passed Certik’s audit and Slow Fog’s initial audit.
Lendoo is the first decentralized lending protocol on HSC. total deposits on Lendoo reached $55 million and total borrowing reached $13 million. Lendoo supports liquidity mining, where both borrowing and depositing on the platform are rewarded with LDT tokens, which can be used for community governance.
LDT tokens are the governance tokens of Lendoo Protocol, with a total of 1 billion. 80% of the tokens are mined out based on lending, with different percentages mined out for different assets. Market operations and governance account for 15% (20% of which is unlocked upon launch, and the remaining 80% is produced by block four years after two months of launch). The development team rewards account for 5% and are released two months after go-live, with a four-year output per block.
Lendoo’s smart contracts are currently audited by Slow Fog and the audit result is low risk.
HyperGraph is an HSC Eco-Alliance member and HSC’s on-chain data service infrastructure, which provides a data service infrastructure on the blockchain to meet the data processing and analysis needs of on-chain projects. By establishing data network nodes and data index network, it enables developers to define data requirements according to their own business and obtain corresponding data on the chain through network nodes. Applications running on blockchains such as HSC, BSC, and Heco can query and index on-chain data through the HyperGraph network.
The advantages of HyperGraph over other blockchain data analysis solutions are: first, it can meet the needs of indexing and querying business data of high-performance public chains and realize real-time data update; second, its data service supports cross-chain, if a dApp is deployed on both Ether and BSC, HyperGraph can aggregate the data of both chains and then query and analyze them; third, it provides the data of the two chains for querying and analysis. Third, it provides convenient SDKs and APIs for developers to call, which lowers the threshold of using data services.
HGT is HyperGraph’s governance token, with a total of 1 billion. 500 million HGT will be destroyed after initial issuance, while 500 million XHGT will be issued and secured by institutional nodes in a locked position, not participating in circulation. Both data indexing nodes and miners need to pledge HGT, and 0.5% of each pledge will be permanently destroyed. Users who use the data indexing and analysis will be required to pay HGT, and 1% of their spending stream will be permanently destroyed.
Currently, HyperGraph’s smart contract has passed Beijing Chain Security Audit.
The Cloud Song Prophecy Machine is a decentralized prophecy machine on HSC, launched in September 2020. The Cloud Song Prophecy Machine is capable of processing data requests from dApps, querying data from the appropriate data source, and returning the results to the dApp.
Data sources for the Cloud Song dataset include four market data aggregation portals Brave New Coin, CoinGecko, CryptoCompare, and CoinMarketCap, as well as nine major exchanges Binance, Huobi, Coinbase Pro, Kraken Bitfinex, Bittrex, Bitstamp, OKEx, and FTX, ensuring the stability and reliability of the data source.
There are two types of tokens in the Cloud Song Prophecy Machine, YUNGE and NGE. The total number of YUNGE tokens is 100 million, which can be used for pledging participation in full-node bookkeeping, pledging participation in domain gateway management and voting participation in community governance; NGE tokens are used to pay for the Prophecy Machine’s quoted data and anchored to the USD stable coin. 30% of the NGE token revenue of Prophecy Machine will be used to repurchase and destroy YUNGE periodically, and 20% will be stored in the insurance pool to ensure system security.
Currently, YUNGE Prophecy Machine supports 5 public chains including Ether, HSC, BSC, Heco and OKExChain, and provides cryptocurrency feeding service for Lendoo, a lending protocol on HSC.
SwapXT is a cross-chain asset exchange protocol on HSC, which allows users to exchange assets, provide liquidity, perform transaction mining and revenue farming on SwapXT, and enable seamless exchange of assets between HSC, BSC, Heco, and OKChain through the cross-chain bridge.
SwapXT will charge a 0.3% fee, 60% of which will be used to repurchase and destroy its token XT, which will be automatically executed by the contract every three days; the other 40% of the fee revenue will be used for eco-funding and project development.
SwapXT has opened its beta campaign on May 17. Users can pick up the test coin iXT at Faucet and test Swap, provide liquidity and other features on the product page. At the end of the test campaign, a certain percentage will be officially exchanged for XT. After the test campaign, SwapXT will take a snapshot of users’ iXT addresses and exchange them for XT tokens on the SwapXT platform at a certain percentage three business days after the project officially launches.
DAOStarter is a decentralized cross-chain IDO platform that provides asset cross-chain services and allows users to freely switch between connected public chains on the platform.
DAOStarter classifies investors according to the number of DST tokens they have locked up. Penalties are set in the range of 10 to 90 days for locking up positions, i.e. a percentage of DST tokens is deducted when redeeming DST tokens.
The upcoming projects on DAOStarter are Nabox and X Predict Market, where Nabox is a digital identity wallet for Web3.0 applications, which uses digital identity on the same chain to manage and sign assets on multiple chains and enable flash cashing of assets on multiple chains. It currently supports 5 public chains, including Ether, BSC, Heco, and NULS. X Predict Market is a decentralized cross-chain prediction platform.
As the third largest exchange public chain after BSC and Heco, HSC’s early bonus for new chains and high APY for new projects are the key to attracting users and market attention, and the series of ecological support initiatives proposed by HSC Eco Alliance and its concept of “developer service” are also quite interesting. However, given that BSC, Heco and other leading exchange public chains already have the first-mover advantage, how to seize market share, attract capital attention and accelerate ecological expansion is still the primary issue that HSC needs to consider.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/hoo-smart-chain-hsc-enters-the-market-a-glance-at-the-application-track-and-ecological-progress/
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