Introduction

October has been an incredible month for Hundred Finance. After our first multi-chain deployment on the Arbitrum network at the end of September, we saw a flood of liquidity moving to the platform. Both suppliers and borrowers rushed to move in and take advantage of our fantastic interest rates. In no time at all, total deposited assets reached the tens of millions in USD value, while Arbitrum’s own TVL trackers showed us shooting up their weekly growth chart until we topped it on October 25th.

Our collaboration with DODO in incentivizing their HND-ETH liquidity pool has likewise proved a huge success. Millions of dollars in tokens are now in place to provide low slippage trading with minimal fees, and with the added bonus of combined HND and DODO emissions to our liquidity providers. Such was the level of success that DODO announced their willingness not only to extend participation in the rewards program for a further four weeks, but also that our two projects have agreed an ongoing relationship of bringing HND and highly capital-efficient liquidity to other blockchain networks.

We then capped off a fantastic month with the addition of two exciting new offerings to our repertoire of long-tail, Chainlink secured assets. October 29th saw MIM and SPELL, the stablecoin and management token of Abracadabra.money, made available on the Hundred Finance platform. Thanks to our integration of Chainlink’s industry-leading Price Feeds, offering token innovations such as these is a simple and efficient process. With the tech in place, our multi-chain lending and borrowing platform is able to streamline access to an inter-network stablecoin and deliver to our community what they ask for.

Yet despite these achievements, as well as others (meme contests, dedicated documents release, etc.), we at Hundred Finance are not resting on our laurels. As a result, we’re happy to announce that this coming week we will be deploying the protocol to its second EVM, partnering with a native investment platform to continue our distribution of the HND governance token, and conducting our first ever collaborative AMA.

Fantom Launch

We think it highly appropriate that we are able to announce on Halloween that the next scaling solution Hundred Finance will launch on is.. Fantom!

“Our spines are tingling with anticipation at just the thought of joining such a terrifyingly dynamic ecosystem of projects, each of which is sweating blood and working fingers to the bone in order to deliver the best of DeFi but with shockingly cheap fees.” — The Hundred Finance Team

The advantage of Fantom is its ground-breaking use of Lachesis, a revolutionary aBFT consensus mechanism that facilitates a high-performance, scalable and secure smart contract platform that is interoperable with Ethereum. This allows us to deliver on our ambition of providing economically efficient borrowing and lending services without sacrificing security, and doing so in a thriving, scalable environment.

Once implemented in the coming days, all our users will need to do is visit the regular project URL of hundred.finance and select the Fantom network from the top-right of the site’s header. This will trigger an automated switch of the browser-integrated Web3’s RPC to that of Fantom, after which our services can be used as normal.

Like Arbitrum, assets will be able to be easily bridged to the Fantom chain using AnySwap once the deployment goes live. Simply click on the Bridge link in the site header and be forwarded to the AnySwap page where you can select from any of our active chains and move your HND tokens (and other assets) between them with no need to add the contract address. In an estimated 10–30 minutes you can be transacting on Fantom and earning yield at a fraction of what it would cost to do the same on Ethereum.

BeethovenX Partnership

As with all of our deployments, we at Hundred Finance like to ensure the best possible conditions are available for our users when they try our services on a new chain. In light of this, we’re incredibly happy to be able to announce that our launch on Fantom will coincide with the beginning of our new partnership with Beethoven X, Fantom’s one-stop decentralized investment platform. Together, we’ll create a dedicated HND liquidity pool that will allow exchange across the full range of Beethoven X tokens, incentivizing those who contribute to it with dual rewards issuance.

Built on Balancer V2, Beethoven X is the first next-generation AMM protocol on Fantom. Allowing weighted investment pools, it combines the services of a DEX with the functionality of an index fund able to automate the rebalancing of a “portfolio” and collect trading fees in the process. The provision of Uniswap-style trading from one token to another, in combination with the potential to earn protocol rewards in the form of HND and BEETS tokens for liquidity providers, make Beethoven X a perfect choice when considering liquidity partners for Hundred Finance’s launch on Fantom.

We’ll be following this announcement with further details of incentives and a tutorial on how to provide liquidity to the Beethoven X platform shortly, but we wanted to give ample warning considering another upcoming initiative we are planning with the BEETS team.

This coming Tuesday, November 2nd, we will be conducting our first AMA. This will be an opportunity for both of our communities to learn about our mutual projects and the futures we have planned. All are invited to participate and submit questions aimed at probing the exciting future of DeFi and the multi-chain ecosystem’s role in it.

Conclusion

To echo this article’s opening line, October has seen huge progress for Hundred Finance. Yet we have no plans of slowing down, with plenty more launches, collaborations and initiatives to follow. With the likes of Chainlink, DODO, Beethoven X and others more to come behind us, we’re working towards our growth into a platform able to deliver “💯 assets across 💯 chains” to a thriving community of cryptocurrency users. We look forward to you joining us on this journey! Oh, and Happy Halloween!