Hot Cross – Multi-Chain Solutions for Builders and Users

The protocol is touted for their infrastructure products, seeking to provide concrete use-cases to their multi-chain community.

What is Hot Cross? 

Hot Cross is a blockchain solutions protocol operating on multiple blockchain networks including Binance Smart Chain (BSC), HECO, Polygon, andEthereum. The protocol is a multi-chain tool suite that continuously aims to develop tools for communities, developers, and large protocols. 

The platform prides themselves on their ability to shift and adapt to the changing needs in Decentralized Finance (DeFi). At the moment, Hot Cross’s tools are available on EVM networks, but there are plans to expand to non-EVM chains. 

Hot Cross has become recognized as one of the leading infrastructure & tooling companies with products on multi-chains. They are known for building useful products for teams and communities to take advantage of across multiple chains. As the project continues to experience tremendous traction and user growth, Hot Cross seeks to become a powerful use-case protocol in the DeFi industry. 

Key Points

Recently Launched NFT Minter

Cross Pools

6 Audits 

Public Team 

Attitude of Looking to do Serious Work Out in the Open 

Recently Launched NFT Minter

One of the newest products in the Hot Cross’ tool kit is their recently launched NFT Minter. The new NFT minter product lets users mint NFTs on Ethereum, Polygon, HECO, or BSC, all through one easy-to-use interface. 

Hot Cross Tweeted to their community that their brand new NFT cross-chain minter was ready and open for use on July 16th. The product has only been around for a couple of weeks, but has seen tremendous action. 13 days following the NFT Minter’s release, 2000 NFTs were minted on BSC.

At this time over 12,000 NFTs have been minted, including those minted on the HECO chain. Not all of the mints have been officially confirmed, but the popularity is noteworthy. 

The Hot Cross team confirmed to BSC News that a recent fee bump for minting was caused by the sheer demand for minting. 

The community has seemingly resonated with the new product, and it should continue to see growth as more and more become aware of its use case. 

Cross Pool

Another powerful feature that looks to distinguish Hot Cross from other DeFi solution protocols is their Cross Pool. Cross Pool is a way for the Hot Cross protocol to incentivize users by allowing the staking of LP tokens or single sided tokens in their reward pools.

What makes Cross Pool so interesting is users can stake BEP-20 tokens and earn an APR on Ethereum. Shown below, is an active Cross Pool.

Cross Pool on Hot Cross enables users to stake tokens on the Binance Smart Chain network, and earn an APR paid out in tokens or coins native to other EVM networks. The pool shown above is just one of the many Cross Pools that Hot Cross is hosting on their platform. 

These pools will primarily be provided by other project teams. The Cross Pool tool was built to provide a place for both users and builders to benefit.

Hot Cross emphasizes that Cross Pools can work with various staking scenarios on any EVM network, though currently BSC is the only available network. The Hot Cross team has confirmed to BSC News that they will select their next network to launch on within approximately the next week.

6 Audits 

The Hot Cross team have successfully completed 6 audits on their Cross Pool product, with 15 total audits across their protocol. The most recent coding audits that Hot Cross has put their products through is shown below: 

Version 1.0.2 of Hot Cross’ Token and Vesting were passed by Beosin and SlowMist 

Version 1.0.1 of Hot Cross’ Cross Bridge received a pass by Beosin and SlowMist

Version 1.0.5 of Hot Cross’ Cross Pool was given a pass by PeckShield 

 Version 1.0.1 of Hot Cross’ Cross Mint was passed by SlowMist 

Hot Cross have also had previously passed audits with Beosin, SlowMist, Omniscia, Zokyo, CertiK, and PeckShield. To learn more, check out all of Hot Cross’ audits.

Public Team 

The team at Hot Cross is completely public. This is quite noteworthy, as most decentralized finance teams are anonymous. For investors, the added unknown of an anonymous team can be a huge deciding factor in whether or not to participate in what the DeFi protocol offers. 

Yet Hot Cross’ team is, as stated, completely public. This means if something were to go sideways, the team could not ‘disappear into thin air.’ There is, with all public teams in crypto, an added layer of accountability and thus credibility. 

Below is shown the Hot Cross team as well as their corresponding links below. 

Philip Arthur Moore ~ Co-Lead

Pavlos Polianidis ~ Co-Lead

Nikos Fotiadis ~ Builder

Antonis Poulakis ~ Builder

Lu Dante ~ Product Manager

Michalis Ghiumiusliu ~ Builder

Sung Pham ~ QA

Thien An ~ Designer

Looking to Do Serious Work Out in the Open 

As stated above, many protocols in today’s DeFi space have teams that work anonymously,

behind the scenes. Although many protocol participants have unenthusiastically come to terms with teams working anonymously, Hot Cross looks to differentiate themselves. 

“We’re looking to do serious work out in the open.” – said Hot Cross’ co-lead Philip Arthur Moore. 

The crypto space needs more projects with this attitude of doing real work, out in the open. Hopefully Hot Cross can set a standard for what a successful, powerful, and useful blockchain solution platform looks like. 

Less anonymity and more serious work getting done. 

Tokenomics

Hot Cross’ Tokenomics are shown below, courtesy of a recent PancakeSwap Medium article published May 14th detailing Hot Cross’ IFO with PancakeSwap.

Token Name: Hot Cross Token

Token Symbol: HOTCROSS

Token Decimals: 18

Token Security: (Beosin, SlowMist, Omniscia)

Token Type: ERC20 (mint) | BEP20 (mint)

Token Bridge: ERC20 Bridge | BEP20 Bridge | 🌉 Try the bridge.

Token Supply: 500,000,000 Canonical supply is on Ethereum.

Token Logo: PNG | SVG | PNG Square | 🎨 Hot Cross Brand Kit

Token Information: CoinGecko | CoinMarketCap | DEXTools

Full token history as well as complete distribution information can be found on the Hot Cross Notion page.

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Roadmap

As far as a Roadmap goes, Hot Cross is more concerned with adapting to market needs than executing a strict set of milestones. The platform believes that markets change and as a result, so do the needs in the markets. 

Hot Cross believes the best way to help and provide value to communities or protocols is to shift and act in sync with them, meeting their needs head on. 

Concluding Thoughts

The Hot Cross protocol looks well poised to make themselves well known in the DeFi space. The platform carries with them huge potential, as the value they offer through their product suite is tremendous. 

It’s one thing to offer a cool product or feature. Yet it’s an entirely different thing to offer a product or feature and see enormous usage of that product or feature. When it comes to Hot Cross, the protocol not only offers amazingly valuable tools, but has seen a lot of usage of said tools. If there’s any stand out indication that something is useful in DeFi, it’s almost always shown by people actually using it. 

Hot Cross has already seen their products resonate powerfully with the crypto community. It should be very exciting to see what innovative solutions the protocol can offer as time goes on! 

Source : bsc.news