Transaction cap raised to $20,000 💸
FDUSD support added 💴
DAI support added 🤖
Immunefi Bug Bounty Launch (coming soon) 👾
Point System (coming soon)💯
You shouldn’t have to agonize over massive fees, unreliable platforms, or (god forbid!) centralized middlemen.
Today, bridging is insecure, expensive, and inconvenient. It’s often not even possible to go directly between two assets, and most platforms only support a small subset of the assets and chains used by any given user. But for crypto’s promise to materialize, money needs to move fluidly between chains. While every chain has its own base asset, moving money between chains lacks a natural common denominator. Stablecoins are increasingly filling this role. Around half of all bridging today is stablecoin denominated and we expect this percentage + total volume to rise dramatically as L1’s and L2’s become increasingly connected. Hourglass is a promise: low cost, robust security, and an ever increasing number of direct routes.
Hourglass swaps cost only 1 bp - that’s $1 for every $10,000.
Other platforms cost… much more than 1 bp (*Li.Fi, for the sake of your users, plz integrate us *👉👈🥺).Â
Over the next few weeks we’ll be bringing more chains and assets online, focusing on reaching the corners of crypto that have been ignored by the incumbents.
We’ll be unveiling a point system soon so we can start tracking and rewarding our community’s participation in Hourglass’ mission. The point system will take the following behaviors into account, including past activity since our launch.Â
Trades placed and feedback provided here!
This is our top priority as more volume allows us to fine tune our backend at scale, and your feedback helps us know where to direct our UX improvements.
Evangelism! We’ll be rolling out a referral program allowing community members to directly benefit from spreading the word.Â
Community participation
DAI is a decentralized stablecoin that operates on the Ethereum blockchain. It aims to maintain a stable value relative to the US dollar through smart contracts and is governed by the MakerDAO system. Users can generate DAI by locking up collateral assets in these smart contracts. DAI's stability and decentralized nature make it a popular choice for transactions, savings, and as a hedge against cryptocurrency volatility.
DAI was launched in December 2017 by MakerDAO, a project aimed at creating a decentralized stablecoin for the Ethereum blockchain. Its development was driven by the desire to have a stable, decentralized digital currency that could be used globally without central authority control. DAI maintains its peg to the US dollar through a dynamic system of smart contracts and collateralized debt positions (CDPs), allowing users to borrow DAI against their Ethereum assets. This innovative approach has set DAI apart as a pioneering stablecoin in the cryptocurrency space.
First Digital USD (FDUSD) is a reserve-backed stablecoin introduced in June 2023. It is issued by a subsidiary of the Hong Kong-headquartered financial firm, First Digital Limited. FDUSD operates on the Ethereum and BNB Chain networks, with plans for issuance on additional blockchains in the future. It is designed to offer a stable digital currency option backed by fiat currency reserves, aiming to reduce the volatility commonly associated with the cryptocurrency market. FDUSD's reserve backing is audited, providing an "attestation of reserve" to ensure transparency and trust among users​.
Last month our team did AMAs with Arbitrum and Avalanche. Our launch was picked up by the Associated Press and others.
If you’re interested in working with us or think there’s an asset we should add, we’d love to chat.
For L1/L2s: We’d love to work with you to increase access to your ecosystem.Â
For funds or whales: We have some special products and opportunities geared toward institutional partners.Â
For stablecoin projects: Don’t tell, but you’re our favorite. Let’s chat and see how we can make your stablecoin more liquid.