Status: 03/09/2023

Hedera aims to become the go-to network for crypto fans by creating a faster and cheaper network.

HeliSwap seeks to mirror that goal by being a DeFi protocol designed for anyone – be they a crypto veteran or newbie. To do this, the team behind HeliSwap has put their emphasis on creating a sleek and simplified protocol designed to meet everyone’s needs.

As part of this effort, HeliSwap has adopted an agile approach that can adapt based on market demands, and strives for the continuous creation of value for the community, Instead of committing to fixed timelines, HeliSwap has embarked on a more holistic path that involves the community in deciding the future of the protocol.

That being said, here are some of the development goals that have been decided on so far:

Community Lockdrop (16 Feb until 23 Feb 2023) - DONE

A Lockdrop is a means to distribute a protocol’s token to a wide variety of participants. To achieve this, participants lock one asset into a smart contract over a predetermined time period to receive tokens in return. After the time period is completed, the tokens are returned to the participant(s).

For HeliSwap, the Community Lockdrop is a means to bootstrap liquidity. HeliSwap collects HBAR from the community to create a deep HBAR <> HELI liquidity pool by matching the collected HBAR with HELI tokens and then redistributing ALL LP tokens back linearly over a three-month period.

Launch of the $HELI token - DONE

The $HELI token will be launched shortly after the Community Lockdrop has concluded. The first utility of $HELI (with many more in the pipeline) will be it’s vital role in our DAO structure. With $HELI, DAO participants will be able to shape the future of the DEX.

Claimdrop platform - DONE

Instead of distributing our tokens at will to Hedera Wallets (ie. Hashpack Wallet or Blade Wallet), we have built a platform where you can claim $HELI tokens that we allocated to your Wallet address. On Hedera, unlike many other ecosystems, a token needs to be actively associated by a wallet before it can be sent to the wallet address. Through the Claimdrop approach, we can make sure that your wallet is associated with the token and that the tokens actually go to those supporters that care about HeliSwap and actively redeem them.

Our first big Claimdrop is to celebrate the release of the HELI token, the HELI Launch Claimdrop. Over time, we will host several Claimdrops, where our users are rewarded for a variety of actions. You can find more details in the gitbook

DAO launch

A DAO is a structure that has no central governing body. The members of a DAO share a common goal to act in the best interest of the entity they are representing or part of. DAOs are a means to make decisions in a bottom-up approach leveraging direct democracy and equal treatment of members to reach such common goals.

In the case of HeliSwap, $HELI token holders will be able to play an active role in all decisions related to the DEX. Their active participation in proposing and voting will shape the future of the DEX — You see, we put all our trust in your hands!!! Everyone is the CEO of HeliSwap.

$HELI — hashport Bridge Integration - DONE

While hashport is already helping the HeliSwap community by bridging tokens onto Hedera from other networks, we plan to go the other route too! Bridging HELI to other ecosystems will make the token available to a much larger audience, and allow us to implement it with many more products out there — very exciting for us! But while we take a leap outside hedera, we are also looking to get other projects onto Hedera, for which hashport is also a crucial partner.

Single sided staking - DONE

Single-sided staking will allow users to earn yield by providing liquidity for a single type of asset. This is different from AMM liquidity provisioning as liquidity provision requires two types of assets. The community has been asking for it, and we make it happen — and it is much closer already than you think!

CEX listings (after token launch) - DONE

Central exchange listings play a crucial role for all crypto projects out there. CEX listings allow crypto participants that do not want to custody their own tokens to partake in a project’s potential. CEX listings further help to stabilize price action across the board.

HeliSwap is engaging with CEXes already to make sure the $HELI token will be made available to broader masses ASAP.

Metamask integration

Since Metamask is the most widely used wallet out there, we need to make sure that Metamask users turn into HeliSwap power users. Integrating with Metamask will allow us to increase our reach beyond the Hedera borders and attract crypto natives and newcomers alike from other ecosystems.

Blade Wallet Beta test & integration - DONE

Gaming? Bladewallet! As their website says “unlock the power of Web3 with Blade Wallet”. With its strong focus on gaming this wallet cannot be disregarded, and that is why HeliSwap is working extremely hard to get Blade wallet integrated into our website.

Through our strong expertise and good relationship with Blade Wallet, we have been chosen to beta test their wallet integration — this allows us to make the integration with HeliSwap as smooth as possible for you guys.

Per User Analytics

Await the next level of user analytics! Gains and losses can be hard to track in the crypto space. This is why we are working on an easy to understand analytics module, that will give each user unique insight into their financial stance within the crypto space. These user based analytics will give each user more financial literacy, as everyone will be able to track their most important KPIs.

Fiat on ramp - DONE

No crypto? No problem! Our fiat on ramp solution will allow you to convert your fiat currency into crypto currencies that you can use right away. We are doing this with our partner C-14, to which we hold a very good relationship.

HeliSwap V2

HeliSwap V2 will be faster, better, brighter than anything you have seen on Hedera before. The team has already started work to bring you the newest DeFi features a DEX can offer. In order to protect our intellectual property and to keep our competitive edge, we cannot disclose what V2 will look like yet — but keep your eyes and ears open, as we may drop some hints in the near future.

Stealth projects / features

There are quite a few more projects / features in the making that the HeliSwap team is working on. Follow our social media channels closely to stay tuned on all the additional features we are announcing and launching. Our biggest mission is to drive more utility to the $HELI token!

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