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Hydranet could potential be a competitor to Uniswap, which if Hydranet reaches the same marketcap, it will be worth $70+/token. (And it's currently trading at 6!!!! cents).
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Hydranet is interesting, i have to admit, and with $10M marketcap it seems cheap as hell.Hydranet could potential be a competitor to Uniswap, which if Hydranet reaches the same marketcap, it will be worth $70+/token. (And it's currently trading at 6!!!! cents).
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But competition for uniswap? Let's be realistic. You can't even start to compare fees when Hydranet has fraction of the volume of rune or uniswap, that seems like you are misleading newbs purposely.
And please tell me this is actually open source but i can't just find the code, because downloading closed source software for something this is just stupid.
And while $10M marketcap means there are lots of space to grow, it needs more then smoke and mirrors to rise and compete with big boys. And with all those cross-chain bridge attacks and stolen money last year, this or any other cross-chain tech doesn't seem like sure bet to me. It's going to be an important development sector, but i rather keep using CEXes and traditional DEXes for the time being.
Hydranet is closed source to prevent thieves from copying code which took YEARS to build, makes perfect sense, besides their web-wallet/web-dex is browser based, similar to Metamask, so it's a completely plug'n play solution.
Also, once the masses finds that you can trade at 1% of the regular fees, people will obviously use the cheaper, AND faster alternative, so there's a good reason this project will be in direct competition to Uniswap.
When you can trade Bitcoin for Ethereum at close to 5-10 cents, instead of like $10, it gets interesting, and opens a lot of doors for trading, in a trustless evironment. It doesn't take a math genius to see the MASSIVE upside potential here.