Binance launches new project after previously sending GMT to moon, here’s what you should know
As it turns out, Binance, one of the world’s leading cryptocurrency exchanges, will become the location for the initial exchange offering of the Hashflow Project token, HFT.
HFT will be the first token to be offered on the Binance Launchpool since April 2022. Previously, in March of this year, the STEPN project token, GMT, was launched on the platform, whose price then skyrocketed 34,500%. Whether HFT will be able to repeat the success of GMT is debatable, but it would still be worthwhile to look into the project.
What is Hashflow and HFT?
Hashflow is a decentralized exchange, the basic idea of which is zero slippage, as well as its own pool and low commissions received by market makers. Operation Ethereum, BNB, Polygon, Avalanche, Arbitrum and Optimism, Hashflow can be described as a direct competitor to another well-known swap, the DEX 1inch. Additionally, Hashflow is also planning to implement futures and options trading.
HFT is a governance token of Hashflow, the possession of which entitles you to participate in the project’s interactive gamified DAO. To participate, you need to buy and stake either BUSD or BNB until the end of November. However, HFT itself will be listed and available for trading on Binance as early as Nov. 7.
Early investors in the project included fairly high-profile funds such as Dragonfly Capital and Alameda Research, which is affiliated with FTX chief Sam Bankman-Fried. Early listing and presence of funds creates additional pressure on HFT’s quotations and increases dump risk.
