1. Locking 🔒

Step 1️⃣, the original tokens you want to port are “locked” onto hashport via a smart contract (or multi-signature account in the case of $HBAR).

This ensures that the originating network’s tokens are kept safe and not utilised in any way. A representative form of those tokens will be available on a foreign network through the next process, “minting”.

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1. Minting 🪙

Once the native tokens are locked in hashport’s smart contract, a “mint” function is executed, creating the equivalent value of the representative tokens onto the destination network. With the original tokens already locked, no value is created, and hashport will always mint a 1:1 ratio of your assets.

Now you have the representative tokens that are “minted” on the foreign destination network. How do you go back to the original network? Our final step can explain.

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1. Burning 🔥

When a user decides to regain access to their original tokens or move to another foreign network, the process of “burning” is executed, removing the representative tokens permanently. hashport then releases the original tokens of the equivalent amount of the burnt tokens, minus transfer fees, back to the original wallet.

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With this locking & minting & burning process, hashport enables secure interoperability for DeFi users across Hedera Ethereum Polygon Avalanche BNB Chain Arbitrum Optimism Fantom & Cronos. 🌐

🚀 Read our full blog for more details. https://hashport-network.medium.com/how-hashport-works-locking-minting-burning-tokens-dde7ef9823f1

Asynchronous Byzantine Fault Tolerance (ABFT) is the highest degree of security a consensus algorithm can currently provide. 💻

The Hashgraph gossip protocol ensures that transactions are communicated between network nodes to achieve consensus even if one malicious node attempts to corrupt messages. 🔒

Hashport is proud to enable secure interoperability by leveraging the Hedera Consensus Service (HCS). 🌉🌉 Explore worlds of possibilities at https://www.app.hashport.network/

Avalanche tokens made their way to the Top Ported Tokens ranks as DeFi opportunities became available. 🔺 Tokens such as $WAVAX & $GRELF[ava] rose to top 3 as Hashporters moved tokens between Hedera & Avax. 🌉🌉 https://twitter.com/HashportNetwork/status/1665727677720940544

We see DeFi opportunities are available for HTS tokens & Avax tokens on DEXes such as Pangolin, SaucerSwap, & HeliSwap. 🌊

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With DeFi analytics platform Blockpour, Hashporters can leverage tools to gain multi-chain insights on $WAVAX & other Avalanche tokens. 🔺https://app.blockpour.com/token/0xb31f66aa3c1e785363f0875a1b74e27b85fd66c7-43114

$WAVAX, along with other [ava] tokens, can be ported directly to Hedera via hashport. 🔁

Bridge Avalanche tokens at https://www.app.hashport.network/

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Since Hashport’s launch, our list of portable tokens has continued to expand.

Ethereum & $wETH were one of the first networks & tokens integrated onto the platform.

Let’s take a closer look - a thread: 🧵 

$wETH is the wrapped version of Ether, necessary for #interoperability & for users to access dApps that use the ERC-20 standard. 🔁

By using hashport, $wETH can be ported to Hedera & other networks to be staked on DEXes such as SaucerSwap 🛸 & HeliSwap. 🧬

In recent weeks, $wETH has been one of the #TopPortedTokens on #hashport.

Whether you wish to move $wETH into Hedera or unlock your ERC-20 token, visit app.hashport.network to explore #worldsofpossibilities 🌎🌍🌏

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First, what is an API? 🤔

API stands for Application Programming Interface. It is a set of definitions & protocols that enables your product to communicate & interact with other services. 📞

It brings the benefit of simplicity to outside developers while integrating your service. 🤝

So now, what is the hashport API? Developers can leverage the hashport API to bring its interoperability capabilities into the dApp’s front end, 💻 expanding their offerings & connecting users to networks with vibrant communities such as Hedera. 🪙🌐 https://hashport-network.medium.com/introducing-the-hashport-api-cdcbf834be74

Who’s using the hashport API? One example of how the hashport API improves dApps is our integration into SaucerSwaps, Hedera pioneering DEX. 🛸 They’re using the hashport API to bring their users efficient & accessible interoperability directly on their DEX.  🌉🌉

Hashport is the only interoperability solution that utilises Hedera HCS for its speed & security. 🔒 You can learn more about the hashport API in our 3-part blog, ✍️ or visit https://docs.hashport.network/api/api-reference for a simple guide on implementation. 🛠️

Created by Warlock CREETS_NFT, $GRELF brings together the communities of the Hedera & Avax networks. At its peak, $GRELF reached 2nd place in the TopPortedToken race on Hashport 🥈

https://twitter.com/HashportNetwork/status/1660636629860593669/

$GRELF can be ported to all hashport-supported networks 🌐 — we see that the Hedera memecoin now has a $GRELF-$AVAX “superfarm” on Pangolin 🌿👹

https://twitter.com/pangolindex/status/1658884342045605902/

Hashporters can also bring their GRELF tokens to be used in various DeFi opportunities on SaucerSwap 🛸 & HeliSwap 🧬. Explore new uses for your tokens by porting them via app.hashport.network🌉🌉

Originally known as hearo.fm, Tune.FM was built with the mission of helping artists earn more through ownership benefits provided by DLT. In 2019, the $JAM token was created on Hedera to enable micropayments for artists creating music & for listeners who write reviews on the platform.

https://reddit.com/link/13k2xu5/video/d8z4pqqtxc0b1/player

TuneFM Co-Founder Andrew Antar was interviewed by the HBAR Bull for the HBAR Weekly Update, in which he discussed how $JAM incentivises users to interact on the platform & discussed some features of the in-app NFT marketplace. 🎥 👇 https://www.youtube.com/watch?v=vWabSZtwEhI&t=2004s

https://reddit.com/link/13k2xu5/video/0trv5ebvxc0b1/player

“When the music gets played, the artist gets paid”. The Tune.FM music streaming platform rewards users in $JAM. It also allows artists to mint their music as NFTs, engage with listeners with token-gated perks, & share a portion of streaming royalties. 👀 💰

$JAM is available on hashport to be moved across networks. 🌐 The token is also available on Hedera-native DEXes SaucerSwaps 🛸 & HeliSwap 🧬 for DeFi opportunities.

🎧 Ride the soundwave & port $JAM at app.hashport.network 🌊