Hodla: Interoperable Archway Staking Experience

Introduction

We integrated Akash & Archway in Hodla - now Akash validators can get retail delegations in 1-click using their own "Hodla space", a guaranteed user attribution channel. (example for Postuman validator): And users can effortlessly convert all of their unstaked IBC tokens into AKT/ARCH using our liquidity mover. Swapping & staking in Akash & Archway was never that easy before.

Problem Statement

The fragmented staking experiences across networks impede validators in garnering retail delegations. They lack a guaranteed retail user attribution channel to get delegated AKT or ARCH, and users grapple with disjointed apps across different chains. Additionally, the inability to effortlessly convert unstaked liquidity to native AKT (or ARCH) from other chains hinders users from capitalizing on staking AKT (or ARCH). A disruption is overdue.

Solution

Watch demo on Loom with comments

In this video I want swap ATOM, OSMO & AKT for ARCH to start delegating to Posthuman on Archway. Traditionally, this involves utilizing multiple apps, engaging in token swaps, and performing chain-to-chain transfers, cumulatively requiring to form and sign over four transactions. However, with Hodla, this process is streamlined into a single app experience with all wallet- & transaction-management done under the hood. Traditionally, this involves utilizing multiple apps, engaging in token swaps, and performing chain-to-chain transfers, cumulatively requiring to form and sign over four transactions. However, with Hodla, this process is streamlined into a single app experience with all wallet- & transaction-management done under the hood.

or here's a silent Youtube version

Here's the final delegation transaction: https://www.mintscan.io/archway/tx/C41829E8BE1ADA0B5A5451DBE5254C4828A60D9C0643C721B4948331F9356DC5

Staking Platform

Hodla unveils a groundbreaking staking platform offering guaranteed retail user attribution for Akash validators, thus addressing the core challenges faced by validators in attracting retail delegations. Now Akash validators can use Hodla as a "linktree for validators" as part of their marketing. Here's how it looks for Posthuman: https://hodla-app-github-io-git-hackathon-hodla.vercel.app/posthuman

Bulk Liquidity Mover

Further, our Bulk Liquidity Mover feature solves the liquidity barrier by enabling users, for instance, with only ATOM & OSMO to effortlessly transition liquidity to stake on Akash or Archway networks, all within a unified, user-centric interface.

Try converting some OSMO, ATOM, ARCH into AKT in a single click: https://hodla-app-github-io-git-hackathon-hodla.vercel.app/lm

Hodla's Impact on Akash & Archway

Hodla's innovative features and user-centric design are poised to significantly contribute to the rise of AKT's Staking Market Cap and Staking ratio, driving positive value for the Akash ecosystem. This impact can be measured through various metrics:

1. Staking Market Cap and Ratio Increase:

   • Hodla's integration of multiple staking protocols, seamless cross-chain staking experience, diversified delegation approach, and improved user attribution are expected to encourage more users to stake ARCH.
   • As a result, the overall staked amount of AKT in the network is likely to increase, leading to an elevated Staking Market Cap.
   • The increased staked amount also improves the Staking Ratio, indicating a healthier and more secure network.

2. Decentralization of Voting Power:

   • Hodla's automatic delegation diversification feature will play a crucial role in decentralizing the distribution of voting power among validators.
   • By distributing stakes across multiple validators, Hodla helps prevent centralization of voting power, enhancing the network's democratic and secure nature.

3. User Engagement and Satisfaction:

   • Hodla's user-centric design and simplified staking process are expected to elevate the Net Promoter Score (NPS) for staking in the Akash ecosystem.
   • User feedback, ease of use, and high NPS are indicative of a thriving and user-friendly ecosystem, which can attract more participants.

4. Validator Conversion Rate:

   • Hodla's streamlined approach to staking is anticipated to increase the conversion rate of new delegators to successful staking, benefiting both users and validators.
   • Validators partnering with Hodla, like POSTHUMAN, are likely to witness higher rates of successful staking through the platform, thus boosting their overall stake.

5. Enhancing Nakamoto Coefficient:

   • By fostering user engagement, decentralization, and broader participation, Hodla contributes to enhancing the Nakamoto Coefficient.
   • A higher Nakamoto Coefficient signifies a more robust and secure network against malicious attacks.

In summary, Hodla's comprehensive approach to staking management, including automatic delegation diversification, simplified cross-chain staking, and improved user attribution, has the potential to drive substantial value to Akash ecosystem. These measurable impacts align closely with the goals of the Akash foundation, focusing on excellence in public goods, ecosystem initiatives, and innovative projects that enhance the success, security, and innovation of AKT.

Hodla amplifies the value of Archway similarly to Akash. Additionally, we posit that with each new chain integration, a reciprocal network effect emerges, as each network garners value from others.

Technical Overview

Hodla, a non-custodial staking dApp, is meticulously architected to deliver a seamless and secure user experience while simplifying staking and liquidity management across Akash and Archway. Below are the technical hallmarks of Hodla:

• Technology Stack:

  • Hodla is built on a robust TypeScript foundation, ensuring a strongly-typed, quality, and maintainable codebase.
  • Utilizing Next.js, a React-based framework, Hodla benefits from server-rendered pages, which enhance SEO and performance.
  • We use web3.js and cosmosjs for blockchain interaction.

• State Management:

  • A global state management strategy akin to redux-thunk is employed, encapsulating state into distinct domains/entities. This facilitates a clean, organized, and scalable codebase.
  • Actions, dispatched via a dispatch function, manage state interactions, allowing for both synchronous and asynchronous operations.

• Modular Architecture:

  • Hodla’s modular design promotes a separation of concerns and ease of maintenance. The codebase is organized into logical modules, each handling distinct functionalities.

• Client-Side Operations:

  • Engineered to execute operations client-side, Hodla ensures user privacy and security. State management logic operates within the user’s browser, minimizing reliance on external servers.

• Liquidity Mover Feature:

  • The Bulk Liquidity Mover is a standout feature, designed to break down the barriers between chains. It allows users to effortlessly convert and move their assets from one chain to another, all in a user-friendly interface.
  • Under the hood, this feature orchestrates a sequence of transactions - initiating token swaps, transferring assets via IBC, and finally, staking the assets on the desired chain, all managed securely and transparently.

• Development Environment:

  • A meticulously configured development environment ensures a smooth workflow. ESLint, Babel, and Jest configurations are in place for linting, transpilation, and testing respectively.

• Deployment and Hosting:

  • The application's static files are structured for easy deployment and hosting, facilitating a straightforward deployment process.

This technical overview underscores Hodla's commitment to delivering a secure, user-friendly, and feature-rich staking platform that simplifies cross-chain staking and liquidity management, making DeFi more accessible and engaging for users across the blockchain ecosystem.

Integration Guidelines

Validators can swiftly integrate into Hodla's ecosystem by following the instructions on our ReadMe to merge their configuration file, enabling their distinct Hodla space.

Traction

Live on Solana & Cosmos, signed top-5 cosmos validator, Posthuman, Bro&Bro & Colossus. Got P2P, Everstake & Chorus One interested, are in testflight with Imperator.co. Won the Interchain hack in Seoul, hosted by Keplr & Osmosis

Next Steps

Aiming to further enhance staking experience in Akash we will be applying for an ecosystem grant to fix

1. Help users analyze staking rewards & integrate claiming rewards, unstaking, like what we already have in Solana & Cosmos Hub
2. Help validators attract delegations by presenting a referral program for our partner delegates. we supercharge validator's delegates with gamified referral links to create an army of ambassadors

We aspire to secure support from the Akash Foundation to continue innovating.