Hades Swap AMM DEX Launch on Polis Chain

Published on: 08.11.2021

Hades Swap announced the launch of the first AMM DEX on Polis Chain, an EVM-compatible side-chain focused on developing tools to allow merchants to use cryptocurrencies as a form of payment.

Hades Swap is an automated market-making (AMM) decentralized exchange (DEX) in the Olympus Network.

Features:

Exchange: The Exchange is where you can swap one ERC-20 token for another.
Yield: The yield page is where the user can stake their HLP (Hades Liquidity Pool tokens) to earn SOULs. These farms provide incentives to people providing liquidity to HadesSwap pools and help offset Impermanent Loss risk.
Governance: Hades Swap is ultimately governed by its community, via voting on proposals held on the Hades Swap snapshot. At this time, only proposals posted to the Snapshot voting system by the CORE can be considered binding if passed with a quorum.
The governance token will be Drachma. Users can acquire Drachma when they deposit SOUL on the SOUL pool in yield farming, similar to when you used to deposit Polis on the old Binance Chain.

Meter’s passport bridge has recently integrated with Polis Chain to Binance Smart Chain and is live now, enabling DAI Stablecoin assets transfer between the two chains.

This will play a key role in enhancing liquidity on Polis Chain for its upcoming DEX HadesSwap. Meter Passport enables free movement of assets across the heterogeneous networks.

Meter.io is a highly decentralized Ethereum scaling solution with a built-in metastable gas currency. It connects to Ethereum and other blockchains as a layer-two protocol and allows smart contracts to scale and communicate seamlessly through heterogeneous blockchain networks.

Meter Passport addresses the following key aspects of bridge transfer between Polis Chain and Binance Smart Chain.

🔹1. Architecture:

One of Meter’s goals is maximizing interoperability with other public blockchains. Meter Passport is a N-way multi-chain router that enables smart contracts to both transfer assets and communicate across blockchains.

🔹2. Assets:

Meter Passport will support seamless transfer of DAI between Polis Chain and Binance Smart Chain at launch.

🔹3. Security:

Meter Passports multi chain router multi-sig contract is secured by five relayers including Protofire, Harshquark, Wetez, InfinityStones, and Meter team. Meter Passport works with a 3/5 threshold. 3 out of 5 the relayers group secured the Avalanche-Ethereum Bridge with more than $300M value locked on the bridge and the other relayers are highly reputable staking service providers validating on Polkadot, BSC, Cosmos, and many other PoS networks.

🔹4. Bridge cost:

The bridge cost includes cost of transaction fees on source chain (paid by user during initiation of transfer) and bridge fee (comprising of operational cost of bridge infrastructure across 5 relayers and transaction fee on destination chain). The bridge cost is significantly low across all participating networks with an exception of Ethereum.

🔹5. Highly Integrated Meter Wallet:

Wallet.meter.io is highly integrated web wallet that hold information of all participating networks and assets. You can easily leverage wallet.meter.io to add networks and assets to your MetaMask wallet.

🔹6. Additional Networks:

In addition of transfer of assets between Polis Chain and Binance Smart Chain, Meter Passport also opens up possibilities of transfer of assets with Ethereum, Moonriver, Avalanche, Theta, Energy Web Chain and Meter Mainnet in the future.

🔹7. Key Deployments:

Meter Passport is now battle tested with key deployments and one of the most secure, decentralized and stable bridge solutions in the space.

Supported Blockchains — Ethereum, Moonriver, Binance Smart Chain, Avalanche, Theta, Energy Web Chain and Meter.
Partner DApps — Ampleforth (AMPL transfer and its inter-blockchain smart contract calls for rebasing), Seascape, Polkmarkets, UTU, Rai Finance, DefiCliq, BEPRO Network.

About Hades Swap

Hades Swap is an automated market-making (AMM) decentralized exchange (DEX) in the Olympus Network.

SOCIAL

Website | Twitter | Discord | Medium | Telegram

About Polis Chain

Polis is an EVM-compatible side-chain focused on developing tools to allow merchants to use cryptocurrencies as a form of payment.

Polis is the main asset on the Olympus Network. It allows users to pay for transaction fees, as well as transferring value stored in Polis within the network. As the Polis Chain is EVM-compatible, meaning it is capable of executing smart contract code, executing this type of code requires the executor to pay some fees, which are tightly related to the code being executed, this fee can also only be covered in Polis.

On the Polis Chain you can.

Send and receive POLIS.
Stake your tokens to create or support a validator.
Interact with tokens, tokenized assets and NFTs deployed on the Polis Chain.
Bridge tokens from other networks.
Participate in projects deployed over the network that can range from token farming on Decentralized Exchange

If you are a developer

Explore blockchain information and use it to build apps and services.
Build and deploy smart contract based technologies such as Dapps, DeFi protocols, tokenized assets, NFTs and any great idea you may come up with.