Hashport 2023 Mid-Year Review

hashport
7 min readJul 5, 2023

Time travels fast in the Web3 space, and tokens are ported securely through the Hashport bridge. Six months into the year 2023, we made upgrades on the portal almost as quickly as Hedera transactions.

As a public utility and interoperability solution, Hashport serves the Hedera ecosystem and the broader DeFi communities. At the time of writing in July 2023, Hashport supports 11 networks and 57+ tokens. We have many milestones and features to highlight — let’s review what we achieved so far this year.

Supported networks

In the previous 6 months, Hashport integrated an additional six networks, enabling interoperability between the existing supported networks with layer 2 networks Arbitrum and Optimism, Fantom, Cronos, Moonbeam, and Aurora.

All network integrations were voted in by the Hashport Governing Council, and many of them were requested by Hashporters and DeFi players who wished to enter the Hedera ecosystem.

Supported tokens

Along with the addition of the 6 new networks, 24 more tokens were integrated with the portal. Here are the new integrated tokens categorised by networks:

Arbitrum — $GMX $RDNT $VSTA
Optimism — $OP $SONNE $PERP $LYRA
Fantom — $TAROT $GEIST $BEETS $SCREAM
Cronos — $FER $MIMAS $MMF $SINGLE $TONIC $VNO $VVS
Moonbeam — $WELL
Aurora — $BSTN $PLY
Hedera — $GRELF $HELI $PEPE

Currently, Hashport supports 57 unique tokens and their cross-network representative tokens. Users can access the Hashport Token List to seamlessly search for any token supported on the portal.

Top Ported Tokens

Every Monday, we share a weekly review of Top Ported Tokens to provide a glimpse into which tokens have been popular. For the first time ever, we give Hashporters a sneak peek into the monthly Top Ported Tokens of January — June 2023.

Other than the expected result of stablecoin $USDC being the top ported token, Wrapped ETH, Dovu’s $DOV, MANTRA’s $OM, Quant Network’s $QNT all had moments in the top 3. Tokens such as Wrapped AVAX, $HELI, & $USDT also gained popularity in the past six months.

DOV transactions in April surged as the tokenised carbon credits marketplace announced its collaboration with Puro.Earth ahead of Earth Day (April 22).

New wallets

In order to access the 57 supported tokens and port them across networks, users will need a Hedera wallet and an EVM wallet.

Since January 2023, we have added new wallets to the portal — Blade Wallet, Rainbow Wallet, Coinbase Wallet, and WalletConnect.

Non-custodial and Hedera-native, Blade Wallet is a popular, versatile wallet that was used to create more than 1 million Hedera accounts. As a celebration for reaching the milestone, the wallet now charges zero Blade fees. Users only need to pay network fees and third-party fees when making a transaction.

On the EVM side, we integrated RainbowKit, a React-based library for adding Web3 wallets into dApps. It allows users to connect wallets such as Rainbow, CoinbaseWallet, and WalletConnect. Users can simply scan a QR code on their mobile phone to access Hashport through their favourite wallet.

To learn more about connecting EVM wallets & Hedera accounts to Hashport, watch our video tutorial.

Hashport Tutorial Series

The world of DeFi is constantly changing, and education is crucial for users who are new to Hashport and the Hedera network. We understand that some users prefer watching visual content more than reading blogs, so we published five new video tutorials.

  1. Choosing which wallets to connect
  2. Connecting EVM wallets & Hedera accounts
  3. Porting tokens across networks
  4. Exploring the Hedera Ecosystem
  5. Exploring Hashport Metrics

All Hashport video tutorials are available in this playlist — we recommend that users subscribe to our YouTube channel.

Ecosystem dApps

There are more than 100 Web3 ecosystem applications and enterprise applications on the Hedera network. Hedera dApps range from decentralised exchanges, wallets, staking platforms, NFT projects, launchpads such as HbarSuite, multichain data analytics platforms like Blockpour, Web3 infrastructure service providers such as Arkhia, and many more.

According to Messari’s State of Hedera Q1 2023 report, “all Hedera Network Services saw key metrics rise”. At the time of writing, the Hedera mainnet has processed 10.3 billion transactions since January 2023. Hedera network TVL increased 52% QoQ, and its growth can be attributed to DeFi opportunities that appear on DEXes such as SaucerSwap, HeliSwap, and Bubbleswap.

Pangolin’s expansion to Hedera was well received by the HBAR community. The platform’s Director of Business & Developer Relations published a video tutorial on using the DEX and porting tokens between Avalanche and Hedera.

For a seamless user experience, a “Hashport bridge” button is available on these platforms to facilitate a smooth token porting journey.

As shown in Metrika’s Hedera network overview, more than 1.5 million Hedera accounts were created in the previous six months. The Arkhia metrics page that launched in Q2 2023 has also been a popular method to view real-time Hedera transactions and TPS.

Metrics page

In Q2 2023, we made the Hashport metrics page available to the public. Users can access data on supported tokens, volume & liquidity. Upgraded features also allow users to browse transactions by categories such as sender, date range, token address, & transaction hash.

A video tutorial is available on YouTube for new users who wish to learn how to efficiently browse data on the metrics page.

Hashport’s Total Volume grew from $14 million to $29.6 million in six months.

Features & Mentions

One of the high-profile interviews for Hashport that took place in the past six months was our interview with BitBoy, in which our Director of Business Development Jesse Whiteside was invited as a special guest. Viewers can jump to the 1:03:45 mark for our feature interview!

Hedera Hashgraph is not a blockchain, but did you know that Hedera is a Distributed Ledger Technology (DLT) that utilises a Directed Acyclic Graph (DAG)? Jesse tells you all about this in the podcast episode with The Rollup.

King Solomon from Generation Infinity is a well-regarded influencer among members of the Hedera community. Hashport’s Jesse Whiteside was interviewed for Hedera Corner. Aakriti Jain, Head of Marketing of our validator BCW Group, was also interviewed by King Solomon during Consensus 2023.

From the ecosystem–building front, it was encouraging to see Hashport-supported HTS tokens listed on CoinMarketCap & CoinGecko. We were listed as an ecosystem member on Arbitrum portal, and featured in tweet threads by our technology partner LimeChain.

Web 3 is about growing communities — so we got Hashport two verified community pages on CoinMarketCap & Magic Square.

Conferences & Events

Between January and June, Hashport attended the largest industry conferences and private Web3-themed meetups:

What an eventful six months! We will keep BUIDLing and pushing boundaries in 2023 & in 2024.

About hashport
hashport is the enterprise-grade public utility that facilitates the movement of digital assets between distributed networks, extending their functionality in a quick, secure, and cost-effective way. In order to remain platform-neutral, hashport functions without the use of a proprietary token. The network is built on a robust and performant architecture, secured and operated by a group of industry-leading validator partners from around the world. hashport has passed rigorous security audits and follows industry best practices; regularly performing comprehensive network tests to ensure the integrity of the network.

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Disclaimer: The information provided on hashport’s website does not constitute investment advice, financial advice, trading advice, or any other sort of advice. You should not treat any site content as advice.

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✨Hashport is a public utility enabling fast & secure cross-network token transfers. $HBAR $ETH $MATIC $AVAX $BNB $OP #Arbitrum #Fantom #Cronos #Moonbeam #Aurora