Anyone familiar with the Decentralized Finance (DeFi) space knows just how vibrant it is with regular launches of new revolutionary projects. As such, there is great news for users of the BINANCE Smart Chain (BSC) and Ethereum's ERC-20 token holders. Holder.Finance is developing an exciting string of projects with them in mind, aiming to bridge the two spaces.
One of the latest of these exciting projects is a Decentralized Application (DApp) that should go online in about a week. The DApp shall be available on the BSC blockchain, working alongside other projects to link BSC to the ERC 20 token.
A Brief on Holder.Finance
Holder finance is the main project behind this DApp. Familiarizing with the concept behind the main project, therefore, goes an extra mile in aiding one's understanding of the DApp itself.
Also abbreviated as HFI, it’s a project within the Ethereum network set to provide the best store of value tokens. HFI intends to leverage its host blockchain's advanced technology to become the first DeFi project in Ethereum and BSC heavily leaning on token holders.
To emerge as holder-oriented, HFI will reward its early adopters as well as hodlers. It has a limited supply of just 1000HFI tokens; this guarantees strong value gains and makes it a good store of value.
The HolderSwap OTC DApp
HFI has developed an Over-The-Counter (OTC) DApp by the name of HolderSwap, which has an expected launch date of two weeks from the time of writing this article.
This DApp shall serve as the muscle behind the HFI token, enabling its trade and the interaction amongst the Ethereum system, other target blockchains, and HFI holders.
To better serve HFI's purpose as a holder-oriented token, several key features on the DApp have been implemented. These include;
A User-friendly Interface
The user interface of the OTC DApp is very simple to navigate.
It comes with a helpful quickstep guide document that helps any newbie to familiarise themselves. There's also a customer service support system available on the HFI telegram channel for follow-up queries regarding any technicalities encountered.
The team behind the user interface design has created the design and features for bringing out the best in HFI usability and providing a better user experience in DApps.
Usability Bridge to Various Assets and Blockchains
While the DApp is primarily created to serve its main project's token, HFI, its usage doesn't end there. It acts as a bridge to some key blockchains and tokens.
To begin with, it has complete ERC-20 support. These are a wide range of tokens within the Ethereum blockchain that adhere to the ERC-20 standards. Such tokens usually have fixed supplies with similar codes, hence fungible. There are about 200,000 such tokens, with notable examples being Tether (USDT), USD Coin (USDC), and Chainlink (LINK)
Second, the OTC Dapp is available on the Binance Smart Chain (BSC), an entirely separate blockchain ecosystem like Ethereum. The DApp shall allow the provision of limited orders on PancakeSwap in a week to tap into BSC users.
Lastly, It also works along with Holder Finance's protocol to enable the development of any other projects that bridge the ERC-20 tokens with the BSC blockchain.
Cost Benefits
The dapp has a gasless protocol, a cost-saving feature available on the HolderLimit platform. This means any trades on the DApp are free, thus eliminating the high gas fees on the Ethereum Blockchain. However, this no-cost policy applies only to HFI token holders, which further earmarks its holder-oriented nature.
The HFI OTC desk initially allowed free transactions for any user, whether they held HFI tokens or not. But this was a limited-time feature, having expired on the 31st of December, 2020.
Comprehensive Code Audit Review With Open Access to Reports
To further augment the holder-leaning nature of HFI, its OTC DApp offers an in-depth audit review of its code system for better security. The audit report is made available on their site. While the coding is not open-sourced, there is high transparency through the report's posting. Holders can carry their independent review of the project's operational history.
The regular deep audit enables a more comprehensive detection and solving of any anomalies encountered by any users. On the other hand, open access to its audit report leaves a gap for independent coders to review any coding issues that may be missed. These make any holders' issues well taken care of to provide a good experience.
In addition to the firm's in-depth audit, its code is also contracted to a series of third-party audits to guarantee security. An example is a recent audit by the CTDSEC firm. A cybersecurity company offering services as a third party to clients, CTDSEC offers a reliable code review service thanks to its years of experience in the field.
Global Coverage
The HFI DApp has worldwide coverage, available worldwide, with a customer support service available 24/7.
The global reach is enabled byitsit based on the Ethereum blockchain, arguably the most diverse blockchain system. It’s also the 2nd largest blockchain by market cap with worldwide subscription, a fact that the OTC DApp intends to capitalize on.
Closing Remarks
Bridging projects promise to revolutionize the entire blockchain ecosystem by solving Holder’s huge cross-blockchain usability hurdle.Finance OTC DApp does this while also providing a holder-centric atmosphere to its users.
While an exact date has not been confirmed, several key occurrences point to its launch as being very imminent. There has been a remarkable milestone that its developers achieved this month regarding the revamping of its user interface.
Besides, the Holder.Finance project also closed key partnerships with World Token and TRY.Finance. These are potential stepping stones towards the complete launch of its DApp and the gasless protocol as well.
