Hashflow Launches 2.0 Iteration Featuring Solana Support and DEX Aggregation

Hashflow, a decentralized exchange offering trade execution via professional market makers, launched the initial stage for its 2.0 iteration on Dec. 5, introducing DEX aggregation services for the first time.

Hashflow 2.0 debuts Smart Order Routing” (SOR), allowing traders to access more than $8B worth of liquidity across top decentralized exchanges including Uniswap, Curve, Sushi, and Balancer, in addition to its network of institutional market makers.

Hashflow will execute transactions using third-party decentralized exchanges when the network of market makers cannot provide a better quote than rival DEXes. The protocol offers user orderflow to market makers via its Request-for-Quote (RFQ) process.

“Other cross-chain aggregation services in DeFi will directly route to external liquidity, while Hashflow will use SOR to leverage its RFQ technology to offer better prices,” Varun Kumar, Hashflow’s co-founder and CEO, told The Defiant. “With this core update, we provide traders access to the deepest liquidity and best rates in decentralized trading.”

Hashflow drove more than $10M worth of trades over the past 24 hours, ranking it as the 32nd most-active DEX, according to DeFi llama. Ethereum hosted 83.5% of volume over the past 24 hours. The platform has settled more than $17.6B worth of trades since its April 2021 launch.

Hashflow’s RFQ-based trading offers the platform a point of difference within the saturated decentralized exchange sector, which is largely populated by forks of the pioneering automated market-maker DEX, Uniswap.

Hashflow full 2.0 release will launch via a staged rollout. Initially, SOR aggregation will exclusively be available on the Ethereum mainnet, before deployment to Solana and Ethereum L2s Arbitrum, Optimism, and Polygon. The exchange is also live on the alternative Layer 1s BNB Chain and Avalanche.

The Solana launch will comprise Hashflow’s first deployment on a non-Ethereum Virtual Machine (EVM) network. The launch will facilitate cross-chain trades for “blue-chip” assets between Ethereum and Solana without incurring the third-party risks associated with cross-chain bridging protocols.

Hashflow’s RFQ mechanism fetches quotes from market makers who manage the liquidity pools on the Hashflow platform. Market makers cryptographically sign quotes to ensure they remain unchanged to protect against slippage, also preventing front-running and sandwich attacks from MEV bots.