Overview
HiveSwap is a permissionless, liquidity pool-based decentralized exchange (DEX) in the Bitcoin ecosystem, primarily utilizing the MAP Protocol interoperability layer. It provides a range of liquidity and asset-swapping services across Bitcoin’s primary layer (L1), various Layer 2 networks, and the broader EVM (Ethereum Virtual Machine) ecosystem. HiveSwap’s primary goal is to create a decentralized trading hub for Bitcoin assets, enhancing the asset interoperability within the Bitcoin and Ethereum ecosystems.
Key Features
Multi-Layer Interoperability
HiveSwap’s architecture connects three major layers:
- Bitcoin Layer 1: The native Bitcoin blockchain, providing access to Bitcoin assets directly on the primary Bitcoin network.
- MAP Protocol Layer: This interoperability layer enables HiveSwap to facilitate cross-chain asset movements, supporting Bitcoin and EVM-based assets.
- Bitcoin Layer 2: Emerging Bitcoin Layer 2 solutions are also supported for additional scalability and flexibility.
Through these layers, HiveSwap enables cross-chain swaps between Bitcoin and assets from Ethereum, BNB Chain, Polygon, and other EVM-compatible chains. The platform allows users to swap BTC for EVM-compatible tokens, addressing liquidity needs across multiple networks
Governance and Utility Token: HIVP
The HIVP token is central to HiveSwap’s ecosystem. It serves multiple functions:
- Governance: HIVP holders can vote on governance proposals, which shape the platform’s future developments.
- Liquidity Incentives: HIVP can be staked or added to liquidity pools, rewarding users with additional tokens as incentives.
- Swap Rewards: HIVP holders receive rewards for participating in swaps and liquidity mining, enhancing user engagement and retention on the platform
HiveSwap Carnival
HiveSwap hosts regular “Carnival” events where users can earn additional rewards. These events provide HIVP and MAPO tokens as rewards, distributed based on user contributions such as liquidity provision and cross-chain bridging. Participation points, or “H Points,” determine the reward distribution, calculated daily based on the user’s share of total liquidity or bridging activities
Supported Assets
HiveSwap supports a range of Bitcoin and EVM-compatible assets, including:
- BTC and Inscription Assets: Bitcoin and various BTC-related tokens.
- EVM Tokens: Tokens from Ethereum, BNB Chain, and other EVM networks.
- Stablecoins and Derivatives: Including iUSD and yield-bearing BTC assets like SolvBTC.
- MAP Protocol Tokens: Native tokens on the MAP Protocol, such as MAPO, enabling liquidity operations within the protocol’s framework
Roadmap and Future Plans
HiveSwap has outlined a multi-phase roadmap that includes:
- Enhanced Layer 2 Deployments: Further deployment on emerging Bitcoin Layer 2 networks.
- Platform Expansion: HiveSwap plans to expand its features, integrating additional asset types and support for new blockchain networks.
- Security and Audits: Commitment to regular security audits to ensure robust technology standards and safety for user funds
Technical Security and User Safety
HiveSwap employs a secure SWAP framework designed to safeguard user funds during transactions and liquidity pooling. Through routine audits and a buyback model that reduces the total supply of HIVP, HiveSwap aims to maintain a sustainable and secure environment for decentralized finance activities.
