HeliSwap
First DEX on the Hedera network to support HTS, ERC20 and HBAR tokens.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | N/A | - | |
| Total Funding | 000k | ||
HeliSwap operates as a decentralized exchange (DEX) and Decentralized Autonomous Organization (DAO) built on the Hedera network. The platform was developed through a collaboration between MANTRA, a blockchain solutions provider, and LimeChain, a blockchain development company. HeliSwap distinguishes itself by being one of the first DEXs on Hedera to support swaps between HTS (Hedera Token Service), ERC-20 tokens, and the native HBAR currency.
The business functions as an automated market maker (AMM), which facilitates permissionless trading of digital assets through liquidity pools. Users, ranging from experienced crypto traders to newcomers, can connect their Hashpack wallets to trade tokens. Revenue is generated from transaction fees on token swaps, which are then distributed to liquidity providers who supply assets to the platform's pools. This model incentivizes user participation and ensures sufficient liquidity for trading pairs.
The core service is the decentralized exchange, which allows for direct peer-to-peer trading without an intermediary. Key features include liquidity pools, where users can deposit tokens to earn fees, and yield farming, which offers additional rewards. A significant milestone was the Community Lockdrop event in February 2023, designed to bootstrap initial liquidity and distribute the native governance token, $HELI. The launch of the $HELI token enables the community to participate in the governance of the protocol, shaping its future development. The platform aims for a user-friendly interface to make decentralized finance accessible to a broader audience. HeliSwap's architecture on the Hedera network allows for faster and lower-cost transactions compared to DEXs on other blockchains.
Keywords: decentralized exchange, Hedera network, HBAR, ERC-20, HTS, automated market maker, liquidity pools, yield farming, token swap, DeFi, HELI token, crypto trading, decentralized finance, Hashpack wallet, MANTRA, LimeChain, DAO, governance token, peer-to-peer trading, crypto assets