Spherium’s Suite of Applications
Spherium offers a transparent, decentralized, cross-chain, user-friendly one-stop platform that maximizes returns and minimizes complexity. The Spherium ecosystem builds on DeFi's predecessors and offers the best solutions to problems faced by traditional finance. The following products and services are available as part of Spherium's Phase I deployment:
HyperBridge: A comprehensive platform that enables interoperability between blockchain applications to help project owners, various blockchains, and investors and removes barriers and communication channels between the blockchains and their communities. HyperBridge is compatible with four major EVM chains:
- 2.Binance Smart Chain
Spherium Wallet: A Decentralized Wallet that can be used with other Spherium products and services. The wallet has an in-built cross-chain token swapping, staking, and lending and borrowing functions.
Hyper-bridge is an omni-directional cross-chain bridge built on the mechanism of token mint and unlocks that lets swap of tokens amongst mainstream EVM compatible blockchains from the likes of Ethereum, Binance Smart Chain, Polygon, Avalanche, Arbitrum and others with an implicit insistence on secure transfer of assets keeping the buffer time to bridge lowest in the industry.
HyperBridge is the gateway to Spherium’s Cross-Chain ecosystem, making it one of the significant accessories to have access to the rest of the cross-chain chain of frameworks. HyperBridge is structured on the absolute merit of keeping security at the forefront of all functioning.
To bridge a token from a source chain to a destination chain, HyperBridge essentially locks the particular token onto a chain and mints the same token on the destination chain. This keeps the token cap defined and makes instant swap possible across the source and destination chain.
The current version of HyperBridge supports the following Blockchains:
- Binance Smart Chain
We are continuously adding mainstream EVM and Non-EVM compatible blockchains in the near future and are open to collaborations to facilitate upcoming Blockchain infrastructures onto the ecosystem.
- Pushing the boundaries of the security layer built upon HyperBridge to make it trustworthy and safe
- Bridge Contract Audited by prominent Blockchain Security firms for code and bug fixes
- Security Locked Liquidity on the Bridge By Initiating A Multi-Sig Wallet swiftly moving assets to Safest Multi-Sig protocols to minimize risks of break-ins
- Asset Freeze functionality is encoded to prevent any malicious attacks or unrecognized infringement on the Bridge
- Continuous improvements and an ever open bug bounty program to further the security parameters for HyperBridge
HyperBride Functionality Comparison
HyperSwap provides a decentralized platform for swapping ERC20 tokens using an Automated Market Maker (AMM) algorithm that enables the liquidity providers, rather than arbitrageurs, to capture profits by reducing the price skew (for an asset in a pool) and bringing the asset price back to the market price.
HyperSwap will create different liquidity pools and incentivize the liquidity providers via Liquidity Mining or yield farming. In addition, users can add liquidity for any asset pair on HyperSwap liquidity protocols.
Spherium and HyperLaunch partners will add liquidity pools for popular token pairs, including ERC20 tokens (e.g., SPHRI/ETH, SPHRI/LINK, ETH/REN, etc.)
Spherium Wallet is a non-custodial and secure mobile wallet for ERC20 tokens, which will facilitate our customers to use all the services provided by the Spherium ecosystem anytime and anywhere from their mobile device. The wallet can be connected to any DeFi platform via the WalletConnect protocol [Ref12], however, the Spherium team will ensure the safety and security of the user assets by adopting best practices in the cybersecurity space. Initially, the wallet will be launched on Android devices. It will later be available on IOS devices. The wallet will also have integrations with payment gateways and crypto-to-fiat payment off-boarding facilities. Additional cutting edge features, such as post-quantum cryptography powered security and multi-signature aggregation capabilities, will be part of the wallet in the roadmap ahead. Furthermore, the Spherium wallet will evolve to include staking opportunities for other ERC20 tokens and services such as virtual debit cards so that users can buy and pay with their cryptocurrencies. Subscription fees and gas for the Spherium Wallet will be defined at a later stage.
HyperStake is a cutting-edge staking protocol that is designed to be compatible with the Arbitrum network, a popular scaling solution for the Ethereum blockchain. HyperStake offers a multi-fold staking solution that allows users to stake multiple cryptocurrencies simultaneously and earn high APYs (Annual Percentage Yields) on their staked tokens.