Hedera Network: Empowering DeFi with velocity, reliability, and global governance

Hedera Network, also known as HBAR, is an open-source Proof-of-Stake blockchain network overseen by the global Hedera Council. It offers a suite of services, including native tokenization, high-throughput data writing and verification, and the Hedera Smart Contract Service—an optimized version of the Besu EVM for smart contracts. Powered by the Hashgraph Consensus Algorithm, these services provide rapid transaction processing, fair ordering, and low-latency consensus, making Hedera ideal for DeFi applications due to its speed, cost-effectiveness, and transaction affordability.

DaVinciGraph, a token management tool on Hedera, streamlines on-chain token operations, facilitating smart contract deployment and offering various services such as token creation, token vesting, DaVinchi Pics, token locker, and Blackhole. The maximum available supply for the DAVINCI token, an HTS token on Hedera, is 90 million tokens, distributed among NFT holders, the Hedera Community, private sales, liquidity, and airdrops.

HbarSuite, a DeFi service provider on Hedera, utilizes smart nodes to enable network communication without the need for direct interaction with smart contracts. Offering a range of products including Launchpad, HSUITE token, NFT Exchange, Decentralized Exchange, Token Manager, Cross-Chain Exchange, and Multi-Sig Wallet Manager, HbarSuite enhances DeFi capabilities on the Hedera network.

To streamline Web3 gaming, Dropper serves as an NFT marketplace and launchpad for gaming projects on Hedera, offering wallet and asset management tools. Recently partnering with NeoTokyo—a consortium of gaming industry investors and founders—Dropper initiated a $5 million grant program for Web3 gaming, aiming to attract AAA game developers to the Web3 gaming community.

Hedera-native HeadStarter functions as a project accelerator and launchpad, providing a platform for token introduction and fundraising. With thirteen launched projects and 19.4 million HBAR raised, HeadStarter contributes to the growth of projects within the Hedera ecosystem. Additionally, Hedera hosts various DeFi protocols such as Builder Labs, EtaSwap, Hashport, and Pangolin, supporting interoperability with EVM-compatible networks like Ethereum, Avalanche, BNB Chain, and Polygon, enabling bridging of NFTs with over $48 million in bridging volume.

SaucerSwap's native DEX on Hedera reached all-time highs in SAUCE price ($0.21), TVL ($150 million), and average daily trading volume ($5 million) in 2024. SaucerSwap V2, featuring concentrated liquidity and tokenomic changes, proved successful. Despite stablecoin supply growth to $8.3 million by February 2024, the DeFi ecosystem on Hedera lacks a user-focused lending protocol, which remains an area for improvement anticipated to be addressed in the next crypto bull run.