Greetings Hydranet! May was exciting indeed. We held or participated in several AMAs, shipped Lithium V1 to beta testers and shared an updated roadmap for the upcoming quarters. While the team continues to work on Hydranet’s flagship, the Web DEX, make sure to join our trading competition running on the Core DEX and experience our cutting-edge technology first-hand. Happy trading!

Lithium AMA

On May 3rd, we held an informative AMA session focused on Lithium. The session covered various aspects of Lithium, including its features and the benefits it brings to our ecosystem. We also got to see it in live action. A recording of the AMA is available for those who couldn’t attend live. — https://www.youtube.com/watch?v=ANwVqjdbZkw

Leading up to the AMA, we hosted several minor competitions where community members were encouraged to spread news about Lithium with their family and friends. We furthermore rewarded the 10 most insightful questions asked during the AMA. Congratulations to the winners of the competitions! We look forward to the next AMA with you.

Lithium V1 Released to Closed Beta

Continuing on the Lithium topic — we are thrilled to announce that Lithium V1 has been completed and pushed to closed beta! This marks a significant advancement for Hydranet!

Lithium V1 supports single-hop transactions meaning users can “only” send payments directly with a state channel counterparty. For instance, only between User 1 <> Node 1, as illustrated in the Single-hop case below. Lithium V2, which is currently under development, will support multi-hop transactions, which means that users will be able to reach anyone in the Lithium network, with intermediate nodes acting as routers. Lithium V1 also had unilateral channel closure logics implemented, which allow users to force close channels in case a dispute between the two state channel parties arise.

Roadmap Update

Our roadmap has been updated to reflect the latest progress and future plans. Key milestones achieved include:

• Public testnet of Web3 wallet
• Lithium V1
• Cost analysis of Lithium (bridge case)
• And more

Key milestones for the upcoming quarters include:

• Orderbook API
• Orderbook swap engine
• Lithium V2
• External signer
• SimpleSwap and Orderbook UI
• And more

A breakdown of the roadmap update was given in our roadmap update article, be sure to give it a view.

XT Twitter Space on Bitcoin Pizza Day

On Bitcoin Pizza Day, we participated in an XT Twitter Space event. Despite experiencing some connection difficulties due to the (probably) high number of AMAs that day, the session allowed us to spread the word about Hydranet. For those who missed it, a recording is available to listen at your convenience.

Code Sign Added to Core DEX

In a significant improvement to our Core DEX, we have added a code sign. This enhancement means users will no longer encounter warnings when downloading and using the Core DEX for the first time, enhancing the user experience of the Core DEX.

Trading Competition

After having the Core DEX code signed, we kicked off a trading competition towards the end of this month! The trading competition will run over 2 weeks and participants have the opportunity to showcase their trading skills and win exciting prizes. All details of the competition were disclosed in this article.

To kick off the competition an AMA was held with Down Under Trading. Down Under Trading is renowned for educating traders on smart, practical trading strategies through risk management and technical analysis. The event was an excellent opportunity to learn and prepare for the competition.

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