TeraBlock’s Hive CrossDEX Milestone 1 Completion: A New Era in DeFi Accessibility

TeraBlock
4 min readDec 16, 2023

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1.0 Introduction

We’re thrilled to announce the completion of Milestone 1 of the TeraBlock Hive CrossDEX project. We’ve enabled the direct purchase of Hive tokens using over 60+ cryptocurrencies from Ethereum and Binance Smart Chain, directly sent to Hive Blockchain wallets. This milestone marks a significant leap in our journey to enhance the DeFi experience on the Hive blockchain. Let’s explore what this means for you and the broader Hive ecosystem.

2.0 Milestone 1: Detailed Overview

Our focus for Milestone 1 was to streamline the process of purchasing Hive tokens. We’ve successfully enabled the direct purchase of Hive tokens using over 60 cryptocurrencies from Ethereum and Binance Smart Chain, which are directly sent to Hive Blockchain wallets. This development is a game-changer in terms of accessibility and ease of use.

Key Features:

  • Direct Purchase of Hive Tokens: Now, you can buy Hive tokens using a wide range of cryptocurrencies from major blockchains like Ethereum and Binance Smart Chain.
  • Single-Step Approval Process: We’ve simplified the transaction process, requiring only one approval from you, making it more user-friendly.
  • Automation through Swidge Protocol: Our Swidge protocol automates complex DeFi processes, ensuring a hassle-free experience for you.
Buy Hive on CrossDEX

3.0 Impact on the Hive Ecosystem

The completion of this milestone has several positive implications for the Hive ecosystem:

  • Enhanced Accessibility: Integrating major cryptocurrencies directly into Hive makes the platform more accessible to a broader audience.
  • Streamlined Transactions: Automating complex DeFi processes simplifies transactions, making Hive more user-friendly.
  • Increased Liquidity: This development potentially increases liquidity within the Hive ecosystem as transferring funds from major blockchains to Hive becomes easier.
  • Community Growth: We anticipate an influx of new users, contributing to the growth and vibrancy of the Hive community.

4.0 Our Commitment to Open Source

We’re committed to open-source development. The entire codebase of the Hive CrossDEX project will be made open source after completing all six milestones. This approach ensures transparency, fosters community collaboration and enhances the project’s sustainability.

Our commitment to open-source development is not just a promise but a core principle of our approach to building a more inclusive, collaborative, and innovative Hive ecosystem.

5.0 Next Steps: Preview of Milestone 2

Looking ahead, Milestone 2 focuses on improving user onboarding and wallet management. We aim to make transitioning from traditional finance to DeFi on Hive smoother and more intuitive.

  • Overview: Milestone 2 focuses on improving user onboarding and wallet management, making transitioning from traditional finance to DeFi on Hive smoother and more intuitive.
  • Goals: We aim to integrate enhanced features for seamless user interaction, including account abstraction for easy onboarding and a comprehensive wallet manager for a more precise overview of users’ DeFi assets across HIVE and EVM blockchains.
  • Timeline: We’re targeting a completion timeline of approximately six weeks for this phase, ensuring timely and efficient delivery of these new functionalities.

Stay tuned for more updates as we continue to enhance the HIVE ecosystem with TeraBlock’s innovative solutions.

For a detailed Hive CrossDEX proposal, please visit

https://peakd.com/hive/@terablock-hive/hive-crossdex-proposal

6.0 Join Us in Shaping the Future

We invite you to be a part of this exciting journey:

  • Try Hive Swidge: Explore the ease of buying Hive tokens with 60+ cryptocurrencies using Hive Swidge.
  • Participate in the Proposal: Your support is crucial. By endorsing our proposal, you help us expand Hive CrossDEX’s capabilities.
  • Spread the Word: Experience the ease of Swidge and share your journey. Encourage friends and family to try it out and amplify our message across social media platforms.
  • Share Your Feedback: Your thoughts and suggestions are invaluable. Please share your experiences and ideas for improvement.

7.0 Conclusion

In conclusion, Milestone 1 marks a significant achievement for Hive CrossDEX. We’ve successfully enabled users to buy Hive tokens through 60+ cryptocurrencies on Ethereum and Binance Smart Chain, transferring them to their Hive blockchain wallet with a single approval. This milestone simplifies the complexities of DeFi, offering a seamless and user-friendly experience.

We remain steadfast in our commitment to the ongoing development and success of Hive CrossDEX. Our journey continues with the upcoming milestones designed to enhance further and expand the Hive ecosystem’s capabilities.

We look forward to the continued support and engagement of the Hive community as we forge ahead in this exciting venture. Together, we can shape the future of DeFi and establish HIVE as a leading blockchain in the space.

Shivam Tandon,
Founder & CEO — TeraBlock
Twitter | LinkedIn

Vote on our Hive CrossDEX proposal

Visit https://peakd.com/me/proposals and then scroll down to Proposal number 291.

Detailed Blog: https://peakd.com/hive/@terablock-hive/hive-crossdex-proposal

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TeraBlock

TeraBlock empowers you with the knowledge, tools and support to easily transition from a centralised (Web2.0) to a decentralised (Web3.0) economy. #timefordefi