By utilizing LayerZero technology, Holograph expands the functionality of DEXs, NFTs, and other decentralized finance (DeFi) apps.
The Holograph ByStarter program by Bybit has officially begun, with an exclusive 500,000,000 HLG token distribution reserved for eligible community members via Holograph’s Whitelist Genesis Offering
The Bybit exchange had previously declared that Holograph will be the first project to take part in ByStarter in 2024. This is the beginning of the project’s extensive airdrop campaign, which is drawing a number of new people to the Holograph community.
What is Holograph?
A digital asset aggregation mechanism called Holograph enables the transfer of FT and NFT tokens between blockchains that are compatible with the Ethereum virtual machine (EVM) while preserving smart addresses, contract, underlying data, and token ID.
Holograph-created fugitive tokens (hFTs) maintain their contract address in all EVM contexts, offering a simple and straightforward way to verify locked-in liquidity.
In all EVM contexts, non-fungible tokens (hNFTs) generated using Holograph maintain their contract address and token, enabling network migration while preserving the same origin.
Holograph offers safe and effective cross-chain interoperability by being built on top of LayerZero. By enabling NFT interoperability, the platform hopes to benefit the whole Web3 ecosystem.
Holograph developed to produce assets, enabling new applications for gaming, NFT, DEX, lending, and borrowing.
- NFT: Create and trade NFT on any blockchain and token.
- DEX: Convey funds across several blockchains in a transaction.
- Borrowing and lending: Borrowing and lending assets across the chain with high capital efficiency.
- Gaming: Allows players to interact with each other and with in-game items from different blockchains.
The project team is made up of 14 international members, Russell R. and Jeff Gluck make up the core team. CXIP Labs, the parent company of Holograph, earned $8.2 million in Series A fundraising, with Courtside and Wave Finance leading the effort. In addition to Justin Aversano, Gary Vaynerchuk, Diplo, Gmoney, Nadya, and others are investors.
HLG token information
With the help of governance features, owners of HLG, the native token facilitating the Holograph ecosystem, can shape the protocol’s future.
- Token name: Holograph
- Symbol: HLG
- Standard: ERC20
- Maximum supply: 10,000,000,000 HLG
- Initial circulating supply: 1,525,000,000 HLG (15.25%)
Features
- Original Fusion Capabilities: Smart contracts with specific opcodes that employ distinct salts to precisely compute contract addresses enable HLG to preserve data during network transitions.
- Trusted Neutrality: HLG stays impartial and does not favor any particular blockchain ecosystem. HLG can travel freely across any application, communications protocol, or blockchain because to the value layer’s modularization.
- Reduced Bridge Risk: By depositing HLG on the source chain and redeploying it on the destination chain, users can engage in trade markets with partners on separate chains.
Allocation
- Ecosystem and Incubation: 25%
- Team: 23.4%
- Strategic Partners: 21.18%
- Treasury: 15%
- Community and Issuance: 10%
- Long-term Advisors: 5.42%
How it works
Holograph persists the data through a bridging procedure. The project ensures a smooth linkage of digital assets across various networks by combining the strength of CREATE2 with advanced tokenization and locking techniques. The user experience is made seamless and effective by the three-step bridging process.
- Step 1: Tokens are safely locked back to the original network when the user starts the token transfer using the native network’s bridge, ensuring security when transferring tokens between networks.
- Step 2: Send cross-chain to the designated destination network via LayerZero. This stage establishes the framework for subsequent tasks.
- Step 3: The bridge on the destination network is activated after the transaction is completed. The destination network generates the appropriate token at this crucial point while preserving the original contract address and ID.
Holograph provides an Executive Network solution to guarantee a user-friendly encounter. Collaboration among ecosystem participants powers this network, as they handle user-initiated bridge transactions. Key challenges are addressed by Executive Network:
- Reduced transaction volume: By streamlining the procedure, users are spared from performing numerous transactions, which boosts productivity and reduces expenses.
- Smooth network interaction: By eliminating the need to transition between networks, the procedure is made simpler and the likelihood of errors is reduced.
- Efficient handling of gas token fees: Users don’t need to handle a lot of gas tokens in order to complete transactions.
One crucial stage in transferring assets between various cross-chains is the Executive Network and the connection process. Holograph is positioned to revolutionize blockchain interoperability by resolving complex issues and streamlining processes, providing users with a seamless and safe means of connecting and utilizing cryptocurrencies between blockchains. many networks.
Product of Holograph
Holograph App
Users can create and trade digital collections across numerous multichains with the innovative Holograph App interface. This tool helps companies, brands, and artists release content simultaneously across several networks. In order to collect royalties from a variety of markets, the solution also aids in distributing the collection over several networks. Along with process optimization, the solution raises creator visibility on all platforms.
Holographic Protocol
A set of smart contracts called Holographic Protocol is used to manage digital asset data in various experimental settings. The protocol offers digital libraries, SDKs, and APIs to enable developers to create multichain applications quickly and easily. Holographic Protocol ushers in a new era of limitless possibilities in the digital environment for everyone from lone Web3 developers to ambitious startups and well-established enterprises.
Bridge
Users can connect NFTs across several networks with this utility. With Bridge Explorer, customers can easily keep track of the status of bridge transactions and observe the transaction in real time. With the help of this technology, assets can easily traverse network boundaries.
Roadmap
In the upcoming months, the project will prioritize these three tasks:
- Mint: NFT development is made simple for users withcode-free interface. This interface will free them from thinking about complex technological problems so they can concentrate on creating original and innovative content.
- Core: the provision of an API interface and the ability to generate NFTs across many blockchains. lets programmers use pre-existing frameworks and tools to swiftly and simply create pre-integrated multichain apps.
- Bridge: Guarantees data integrity while enabling NFT data to move between EVM blockchains.
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