- Binance has launched trading for Hashflow’s HFT token
- HFT is available in trading pairs against Bitcoin, Binance USD and Tether USDT
- Hashflow is a decentralized exchange protocol with multi-chain support and advanced features
Hashflow’s HFT token is now trading on Binance
The Binance cryptocurrency exchange is set to launch trading for Hashflow’s HFT token at 13:00 UTC today. The exchange is providing HFT/BTC, HFT/BUSD and HFT/USDT trading pairs.
To begin with, Binance is offering HFT trading in the exchange’s “Innovation Zone”. The Innovation Zone is a section of Binance that allows users to trade tokens from relatively new projects. Before users can trade tokens listed in the Innovation Zone, they are required to demonstrate that they are aware of the risks of trading the crypto assets listed in the section.
In the first hour of trading on Binance, the HFT price hit $35 at its peak, although such price levels were short-lived. The price quickly dropped under $3. We can expect heightened price volatility until the market settles down and a tighter price range for the token is established.
On November 1, Binance added HFT to its Binance Launchpool platform. Through Binance Launchpool, users are able to stake their BNB or BUSD tokens to earn HFT. A total of 15 million HFT (1.5% of the token’s supply) will be distributed to stakers on Binance Launchpool.
The Binance Launchpool program for earning HFT is still ongoing, and will be taking place until November 30.
With HFT trading now going live on Binance, the price discovery for HFT on the market will begin. This will be fascinating to follow as we will be able to compare the Hashflow price on the open market against the prices paid by private investors. Hashflow offered HFT tokens to venture capital firms and angel investors in private token sales. Here’s how the price of HFT changed across the different private sale phases:
- Phase 1: $0.02
- Phase 2: $0.10
- Phase 3: $0.40
Hashflow is a decentralized exchange protocol that supports multiple blockchain platforms, including Ethereum, BNB Chain, Polygon and others. It uses a RFQ (request-for-quote) model, in which liquidity is provided by professional market makers and pricing is conducted off-chain to eliminate slippage. The protocol also implements MEV (maximal value extraction) protection to prevent users being negatively affected by frontrunning.
While the HFT listing on Binance is likely to grab the most attention, users who are interested in the token will also have plenty of other options. Besides Binance, other exchanges such as KuCoin, MEXC and Bitget are also listing HFT.
Leave a Reply