Hedera Network: Powering DeFi with speed, security, and global governance

• Provides an optimized Besu EVM for smart contracts. 
• Offers a native tokenization service and a high-throughput data writing and verification service.
• The Hashgraph Consensus Algorithm offers impressive capabilities regarding high throughput, fair ordering, and low-latency consensus. 
• It is particularly well-suited for DeFi applications, thanks to its ability to process transactions quickly and at a minimal cost.

The global Hedera Council is in charge of overseeing the Hedera Network, also known as HBAR, which is an open-source Proof-of-Stake blockchain network with public permission. The network provides native tokenization, high-throughput data writing, verification, and the Hedera Smart Contract Service, an optimized version of the Besu EVM for smart contracts, among other services collectively referred to as Hedera Network Services. These services, powered by the Hashgraph Consensus Algorithm, offer high throughput, fair ordering, and low-latency consensus for all transactions. 

Hedera is the best option for DeFi applications due to Hedera’s high speed, cheap transactions, and affordable transaction options.

Hedera’s DaVinciGraph is a token management tool that simplifies token-related on-chain operations. It uses Hedera to deploy smart contracts and provides various services, including token creation, token vesting, DaVinchi Pics, token locker, and Blackhole. The maximum available supply for the DAVINCI token, an HTS token on Hedera, is 90 million tokens. The tokens are distributed among the NFT holders and the Hedera Community and in private sales, liquidity, and airdrops.

HbarSuite is a DeFi service provider on the Hedera network. It uses smart nodes to let users communicate within the network without dealing with smart contracts directly. Launchpad, HSUITE token, NFT Exchange, Decentralized Exchange, Token Manager, Cross-Chain Exchange, and Multi-Sig Wallet Manager are just a few of the products Hbar Suite provides. 

To remove some aspects of Web3 gaming, Dropper is an NFT marketplace and launchpad for gaming projects on Hedera that provides wallet and asset management tools. To bring AAA game developers to the Web3 gaming community, Dropper recently announced a partnership with NeoTokyo, a group of investors and founders in the gaming industry. This partnership established a $5 million grant program for Web3 gaming.

Hedera-native HeadStarter is a project accelerator and launchpad that gives projects a place to introduce tokens and raise money. HeadStarter has launched thirteen projects and raised 19.4 million HBAR for them. Hedera also hosts the Builder Labs, EtaSwap, Hashport, and Pangolin DeFi protocols. The Hedera Network supports numerous EVM-compatible networks, including Ethereum, Avalanche, BNB Chain, and Polygon. The Hedera Network has used these networks to bridge NFTs, enabling over $48 million in bridging volume.

Hedera is developing a robust blockchain for DeFi applications. In 2024, SaucerSwap’s native DEX reached ATH in SAUCE price ($0.21), TVL ($150 million), and an average daily trading volume of $5 million. SaucerSwap V2, which offered concentrated liquidity and tokenomic changes, was successful. 

Hedera’s stablecoin supply rose to $8.3 million by February of 2024. However, despite an upbeat start, the lack of a user-focused lending protocol still needs improvement. The next crypto bull run should be able to boost the DeFi ecosystem.