Pluto 🚢
932 posts
We’re coming up on 3 months since Harbor’s launch. We’re proud to say that our initial rollout phase is complete, and the protocol has performed to the team’s high standards: 100% swap completion rate, 212x week-over-week growth, 74% of quotes won on routes/wallets supported. Furthermore: * $500k volume processed to-date, next stop: $1M! * Live in 5 wallets: @THORWallet (as of today!), @THORSwap, @xverse, @orangerockxyz, @wire_wallet. * 3 more wallets launching very soon, all made possible via @SwapKitPowered . * Maximum size: $10k, increasing to $20k soon. * Routes: ETH/BTC and BTC/USDT, with more planned. * Roadmap: multi-book routing, chains (BNB, Tron), DEX aggregation. Stay tuned as we continue shipping! 🚢
0/ A personal update I have decided to step back from @multicoin. It's a bittersweet moment for me because my time at Multicoin has been some of the most meaningful and rewarding of my life. That said, I am excited to take some time off and explore new areas of technology. After nearly a decade in crypto, I’m more confident than ever that crypto is going to fundamentally rewire the circuitry of finance. I believe the Clarity Act will unlock a tidal wave of new entrants and spur adoption unlike anything we’ve seen. I remain bullish on crypto, specifically Solana, and intend to continue making personal investments in the space and supporting Multicoin portfolio companies. Moreover, I will continue to serve on the board of @zama, and I will continue in my role as Chairman at Forward Industries (@FWDind). More on Forward in next tweet. It goes without saying that I also remain bullish on Multicoin. My partners @tushar_jain, Brian Smith, @johnrobertreed, @mattshap1, @xethalis, @SpencerApplebau, and @shayonsengupta are some of the best investors and operators in the world. I am excited for them to continue to drive the crypto ecosystem and Multicoin forward for many years to come. To all of our portfolio founders, LPs, and industry partners—thank you for the opportunity to work with you. For reference, here is the letter we shared with LPs today drive.google.com/file/d/1bsoabi…
Slowly and deliberately, @Harbor_DEX is increasing its max swap size, validating execution quality at each milestone before moving up. $5k swap next week?
Slowly and deliberately, @Harbor_DEX is increasing its max swap size, validating execution quality at each milestone before moving up. $5k swap next week?
Left: Jan 1, 2024 Right: Today
We have received many inquiries about validator participation and decentralization. No modern protocol starts out in a decentralized state, and Harbor is no different. We commend @THORChain’s real decentralized values. From removing admin from its founders, to locking treasury LP in a node-owned module, to implementing its governance process (ADR), our founders were responsible for many of the practices that made THORChain as decentralized as it is today. We remain committed to bringing those same values to Harbor. It takes time! Swap integration docs will be released soon. The trading API will open up sometime in 2026. Sources will be released prior to TGE. In the meantime, validator set is permissioned. We will release details about the Interim Validator Program soon.
Today, we are launching Harbor, a Layer 1 network with native asset vaults capable of custodying diverse assets, such as Bitcoin and its UTXO variants (Litecoin, Zcash), Ethereum and its respective L2s, Solana, and more. Harbor’s first application is a cross-chain order book, providing fast and efficient spot trading to service the burgeoning market of cross-chain swaps. The network employs a dual-actor marketplace to ensure fair pricing and execution for cross-chain swaps. Existing solutions are susceptible to the flaws of solver-based designs, where an “all-or-nothing” approach incentivizes solvers to price quotes ever-higher in the hopes of earning business, but are free to execute wherever they please within a wallet’s price tolerance (usually 3%). Harbor solves this problem by having two separate entities that are naturally opposed to one another: the central limit order book (CLOB) and a smart order router. The CLOB represents the interest of market makers: performant, programmatic trading APIs allow extremely tight pricing, usually within a single tick of the market’s best bid or ask, at meaningful size. The smart order router represents the interests of swappers: placing limit orders at exactly the quoted amount, allowing market makers to compete to fill at that price, or regressing the order down the book until it fills or refunds due to price tolerance. This design ensures that no single market maker is responsible for the execution quality of a swap. The swap is worked through the order book, ensuring the best possible pricing, utilizing liquidity provided by multiple makers, while preventing quotes higher than fillable orders. We believe Harbor’s design— a hybrid DEX securing custody through threshold signature vaults and a decentralized validator set, paired with a high performance matching engine for speed and execution, along with the ability to support other purpose built “subnets” utilizing its vaults— positions Harbor as the best L1 design capable of delivering neutral, efficient, decentralized, native asset rails. Follow us for more details about our upcoming plans, intro blog post, whitepaper and more.
Today, we are launching Harbor, a Layer 1 network with native asset vaults capable of custodying diverse assets, such as Bitcoin and its UTXO variants (Litecoin, Zcash), Ethereum and its respective L2s, Solana, and more. Harbor’s first application is a cross-chain order book, providing fast and efficient spot trading to service the burgeoning market of cross-chain swaps. The network employs a dual-actor marketplace to ensure fair pricing and execution for cross-chain swaps. Existing solutions are susceptible to the flaws of solver-based designs, where an “all-or-nothing” approach incentivizes solvers to price quotes ever-higher in the hopes of earning business, but are free to execute wherever they please within a wallet’s price tolerance (usually 3%). Harbor solves this problem by having two separate entities that are naturally opposed to one another: the central limit order book (CLOB) and a smart order router. The CLOB represents the interest of market makers: performant, programmatic trading APIs allow extremely tight pricing, usually within a single tick of the market’s best bid or ask, at meaningful size. The smart order router represents the interests of swappers: placing limit orders at exactly the quoted amount, allowing market makers to compete to fill at that price, or regressing the order down the book until it fills or refunds due to price tolerance. This design ensures that no single market maker is responsible for the execution quality of a swap. The swap is worked through the order book, ensuring the best possible pricing, utilizing liquidity provided by multiple makers, while preventing quotes higher than fillable orders. We believe Harbor’s design— a hybrid DEX securing custody through threshold signature vaults and a decentralized validator set, paired with a high performance matching engine for speed and execution, along with the ability to support other purpose built “subnets” utilizing its vaults— positions Harbor as the best L1 design capable of delivering neutral, efficient, decentralized, native asset rails. Follow us for more details about our upcoming plans, intro blog post, whitepaper and more.
