Hourglass Sneakpeek 🤫

As a Tristero subscriber, we're excited to offer you a sneak peek of Hourglass, a new cross-chain stable swaps protocol we've helped develop. Bridging today sucks. It is expensive and dangerous. It is often very slow and there is often very limited liquidity, especially for esoteric pairs. It is like travel, before jets.

Hourglass fixes this. Powered by Layer0, Hourglass uses an on-chain order book instead of pools. This improves security, as there are fewer failure points, and improves liquidity, as orders can be placed without the constraint of the pool’s supply. In pool-based models, trade size is capped by the amount of an asset in a pool and fees need to be high enough to pay people to leave money in pools. With an order book, demand can create supply. Hourglass offers the security of DeFi with the liquidity of CeFi.

Hourglass charges 1 bp. The industry standard for bridging today is 8-10, prior to slippage. The leading single-chain stable swap platforms charge 4. While we’re impressed by the protocol's pricing, what we’re really excited about is its ability to handle very large orders, especially between less liquid pairs.

Please find a testnet invite link here and stay tuned for more announcements.