Haust Network is a Layer 2 blockchain platform developed using the Polygon CDK that focuses on offering a simple and easily accessible decentralized finance (DeFi) experience through capabilities like a native DEX, lending protocols, and a unique yield generation mechanism called “Haustoria” within an integrated wallet ecosystem; it is essentially aimed at streamlining cross-chain DeFi interactions with swifter transactions and reduced fees by utilizing technologies like zk-rollups and account abstraction.

What is Haust Network?

The Haust Network is a new blockchain innovation that combines outstanding scalability, security, and user-friendly features. The Haust Network is an EVM-compatible Layer 2 blockchain powered by zk-rollups that incorporates AggLayer, Data Availability, and Account Abstraction from the start. The network provides a smooth DeFi experience, including native yield production via the Haust Wallet and the revolutionary Haustoria mechanism. This aims to improve network performance and reshape the DeFi landscape with seamless user experiences, native yield generation, and strong interoperability. Haust Network is a blockchain network that aims to create a seamless and secure environment for decentralized applications (dApps). Haust Network intends to address some of the significant difficulties existing blockchain networks face, including scalability, interoperability, and usability.

The AggLayer is a decentralized protocol with two elements: an integrated bridge and a zk-powered mechanism that ensures cryptographic safety for flawless chain interoperability. AggLayer solves the problem of fragmented liquidity and state across rollups and the L1. The NEAR Data Availability Layer was meant to improve scalability and efficiency. It separates the storage and accessibility of transaction data from the execution layer, allowing validators to concentrate on consensus and execution without being distracted by data storage. The NEAR Data Availability Layer provides data stability by distributing it over different nodes using sharding. This increases redundancy and resilience to data loss or corruption. The key benefits include increased throughput and lower latency due to offloading data availability activities and security. Reliability is achieved by cryptographic proofs and erasure coding techniques, which ensure that data can be recovered if the nodes go down.

Account Abstraction (AA) is a blockchain technology that enables users to use smart contracts as accounts. AA plays an essential role in the Haust Network, transforming the user experience within the Haust Wallet. Some features include web2-style sign-in, keyless wallet management, social wallet recovery, and gas fee management. Transaction finality is a key component of blockchain stability. Haust Network’s Nuffle Fast Finality Layer takes it a step further. This advanced layer builds on the current infrastructure, using sophisticated consensus techniques to ensure speedy and deterministic finality. Nuffle boosts user confidence and enables high-speed applications in DeFi and beyond by drastically lowering the time it takes to confirm transactions as irreversible.

Background of Haust Network

Haust Network was created in 2024 by the Haust Labs team. Anton Patrynika is the co-founder and CEO of Haust Network, a DeFi platform. While detailed information regarding his previous career experiences is sparse, his active involvement in the blockchain and DeFi industries is apparent. In June 2024, he was awarded Best DeFi Project, demonstrating his industry leadership. He has also spoken at high-profile events, such as the Crypto Expo Dubai 2024, where he gave a keynote talk on DeFi issues. Other team members include Lana Kovalski, Chief Marketing Officer (CMO) and Business Development (BizDev) lead; Andrei Nalichaev, Chief Technology Officer (CTO); Denis Kurilchik, Chief Business Development Officer (CBDO); and Max Wong, Chief Product Officer (CPO). The development partners of the Haust network are the gateway.fm (Blockchain) and Innowise (Application, Lending, and DEX).

Haust’s Main Features

Haust Labs, the team behind Haust, provides a whole ecosystem of solutions to address existing Web3 difficulties and bring the industry closer to the ideal future of a DeFi ecosystem. Haust is a product ecosystem aiming to address existing Web3 difficulties while bringing the industry closer to the perfect future of simple DeFi. The Haust ecosystem guarantees a seamless experience (similar to Web2) in the complex Web3 world. It is designed to allow end users to interact with a wide range of DeFi functionalities without leaving the app. Haust Network functions similarly to a decentralized hedge fund, while Haust Wallet is a DeFi crypto portfolio management wallet. The development team that created the Haust Network and its ecosystem products, including Haust Lend (Protocol), Haust Wallet, Haust DEX, and Haustoria.

The Haust Wallet

Haust Wallet, powered by Account Abstraction, is available on several platforms, including iOS, Android, Telegram MiniApp, and browser extensions. Account abstraction (AA) is a blockchain technology idea that seeks to decouple user account functions from the core protocol, allowing for more adaptable and programmable account behaviors.

How to Use Haust Walet

Registration

• Haust Wallet can be downloaded via a referral link or straight from the App Store, Google Play, or Magic Store.
• Tap [create account] to get started.

• Users then enter their email address to safeguard their account, and we will send you a 6-digit verification code.

• Enter the verification code correctly to proceed.

• The account creation process will begin.
• Create and confirm a secure PIN.
• Users must keep their private keys secure or back them in Google Drive/iCloud. Once they’ve completed this step, tap [Continue].

Receiving Funds

• On the Haust Wallet home screen, choose [Receive] and then select a token.

• Users must select a token from their asset list and press [Receive] on the token details tab.

• If users use the alternate approach, the chosen token will already be pre-selected on the [Receive] screen. Otherwise, explicitly select the token you wish to get.

• Users must select the network for their token transaction.

• A QR code with the token address will appear. Select the copy icon or touch [Share address details] to transmit the address details to the sender. To avoid losing money, make sure you choose the right network.

The Haustoria

Haustoria is a collection of smart contracts that connect with various DeFi protocols across many networks, leveraging user cash as collateral and delivering the averaged profit to the end user in native yield. The Haustoria mechanism distinguishes the Haust Network by enabling native yield production via the Haust Wallet. This innovation allows users to receive rewards for their assets inside the ecosystem, making DeFi more accessible and profitable. Haust builds native yield-generating features right into the protocol. All tokens delivered to Haust Network via Haustoria, including hUSDT, hUSDC, hBTC (hWBTC), and hETH (hWETH), automatically compound over time.

Haustoria Simplified Process

• Deposit & Distribution: Users begin by putting funds into a Haustoria contract on a specific donor network. The contract then distributes these funds to pre-selected high-yield programs inside that network.
• Risk-Adjusted Allocation: Haustoria intelligently allocates funds using established parameters. This maintains a balance between enhancing possible output and mitigating the inherent hazards associated with various DeFi techniques.
• Tokenized Representation: In return for their deposits, users earn tokens in the Haust Network. These tokens indicate a user’s proportional stake in the Haustoria system.
• Passive Income Distribution: As the underlying systems make earnings, Haustoria automatically distributes them proportionally to all token holders.

To receive hUSDT in a Haust Wallet using Haustoria, the user must deposit USDT tokens at the generated address on the desired network. Depending on the current hUSDT/USDT conversion rate, the user may receive fewer hUSDT than they deposited. The minimum deposit volume limits are enforced according to the network: Polygon, BSC, and Ethereum cost $100 and $200, respectively. The restrictions on the minimum withdrawal amount depend on the donor network. Polygon and BSC cost $100 each, whereas Ethereum costs $200. Furthermore, a fee is imposed when withdrawing hTokens.

Bridges

Users can use bridging to send tokens directly to Haust Wallet while also using Haustoria. For end users, this solution will appear as a Web2 deposit to an address on the specified network, eliminating the requirement to connect their current wallet to the Haust bridge to confirm and transfer transactions. Haust Network will handle all of this on the back end. Simplicity is achieved by utilizing Account Abstraction technology. Tokens USDT, USDC, BTC (WBTC), and ETH (WETH) can be transferred to Haust Wallet via Bridge; however, the native yield will not be distributed because these tokens are not staked in any protocol. Tokens within the Haust Ecosystem can be used as collateral in Haust Lend.

DEX and Lending

Haust Network provides a Decentralized Exchange (DEX) called Haust DEX, which has a user-friendly interface, allows token swaps, and limits order exchanges via non-custodial wallets and an integrated explorer. It also features a lending protocol called Haust Lend, which makes it easier to provide liquidity and borrow assets with collateral. Haust Lend is a decentralized, non-custodial liquidity market protocol allowing users to offer or borrow assets. Borrowers can take out loans using either an overcollateralized (perpetual) or undercollateralized (one-block liquidity) approach. At the same time, supply adds liquidity to the pool, allowing for passive income. It displays the overall quantity of funds within the protocol, giving a clear picture of the available liquidity.

DAO

Haust’s DAO uses an innovative governance architecture to empower its community and direct the evolution of the ecosystem. This governance framework is based on two core components: vote-escrowed tokens (ve-tokens) and quadratic voting. veHAUST is the lock-based influence mechanism. Holders of HAUST tokens can lock them in exchange for ve-tokens for a set period before being able to retrieve the tokens. The allocation of ve-tokens is proportionate to the number of HAUST tokens locked and the duration of the lock period. This method ensures that players with a more significant commitment (a larger number of tokens)—both in terms of capital (more locked tokens) and time (more extended lock periods)—gain more governance influence through additional ve-tokens.

Benefits of the Haust Network

Security

Security is a top requirement for any blockchain network, and Haust Network uses cutting-edge cryptographic algorithms to protect and secure the integrity of user data and transactions. The network’s architecture is designed to withstand various threats, allowing users to trust the platform with their assets and data.

Scalability

Scalability is a significant challenge for blockchain networks. As users and transactions grow, many networks struggle to maintain their performance and speed. Haust Network tackles this issue by adopting a novel consensus process that improves transaction performance while preserving security and decentralization. This enables the network to process many transactions efficiently, making it appropriate for large-scale applications.

Interoperability

Haust Network is intended to allow interoperability among various blockchain platforms. This means that developers can construct applications that interface with numerous blockchains, allowing for a wider choice of features and services. By enabling cross-chain communication, Haust Network creates new opportunities for dApp developers and consumers, resulting in a more connected and diverse blockchain environment.

User-Friendly Interface

To make blockchain technology more accessible, Haust Network provides a user-friendly interface that makes it easier to interact with the network. Whether you’re a developer or an end user, the straightforward design allows you to explore the network and use its capabilities without requiring substantial technical knowledge.

How Does Haust Network Work?

At the heart of Haust Network is the Polygon zkEVM. This cutting-edge Ethereum-compatible virtual machine uses zero-knowledge proofs (zk-proofs). These cryptographic methods allow one side to validate a statement’s veracity without disclosing any underlying data. In practice, zkEVM assures that each calculation or transaction on the Haust Network is safe, scalable, and verifiable with minimal data.

Polygon zkEVM is a Layer 2 solution for Ethereum that uses zero-knowledge technology to validate off-chain transactions with rapid finality. This design improves transaction performance while increasing security by combining data availability and execution verification on Ethereum’s Layer 1 (L1). For developers, this implies seamless deployment of smart contracts and access to robust tools, creating an environment conducive to innovation.

Haust Network Application and Use Cases

Haust Network’s robust infrastructure serves a diverse set of applications across sectors. Here are some such use cases:

Decentralized Finance (DeFi)

Haust Network provides a robust framework for creating DeFi applications such as decentralized exchanges, lending platforms, and yield farming protocols. The network’s high scalability and security ensure financial transactions run smoothly and securely.

Supply Chain Management

With its transparency and immutability, blockchain technology is suitable for supply chain management. Haust Network can follow products throughout the supply chain, confirming their authenticity and lowering the risk of fraud.

Gaming and Entertainment

Haust Network encourages the creation of decentralized gaming platforms in which players may safely own and trade in-game assets. The network’s scalability and low latency make it ideal for high-end gaming applications.

Identity Verification

By leveraging Haust Network’s security features, developers may design decentralized identity verification systems that preserve user privacy while assuring accurate and dependable identity management.

What is the HAUST token?

HAUST is Haust Network’s native coin developed by Haust Lab, making it compatible with other ERC-20 tokens. The maximum supply of the HAUST token is 10,000,000,000. Haust Lab has also developed an emission mechanism for the initial distribution event with token creation, followed by a progressive release process using stake rewards and ecosystem participation incentives.

What is the Haust hToken?

The hToken are tokens in the Haust network that have traveled through Haustoria. They include;

hUSDT is a USDT token created on the Haust Network after depositing USDT via Haustoria. The yields provided by different staking techniques will raise the USD value of hUSDT. SDT (Tether) is a stablecoin tied to the value of the US dollar. It is sold, issued, and backed by the centralized company Tether.

hUSDC is a USDC token created on the Haust Network after depositing USDC via Haustoria. The yields provided by different staking techniques will raise the USD value of hUSDC. USDC (USD Coin) is a digital stablecoin managed by Circle tied to the US dollar.

hWETH is a WETH token created on the Haust Network after depositing ETH or wETH via Haustoria. The yield provided by different staking procedures will raise hWETH’s USD value. ETH is a wrapped version of ETH, an ERC-20 token on the Ethereum blockchain linked to Ethereum (ETH). ETH is backed one-to-one with Ethereum.

hWBTC is a WBTC token created on the Haust Network after depositing BTC or WBTC via Haustoria. The yield provided by different staking techniques will raise the USD value of hWBTC. BTC is a wrapped form of BTC, an ERC-20 token on the Ethereum blockchain linked to Bitcoin (BTC). BTC is backed one-to-one with Bitcoin.

Tokenomics and Distribution

• Liquidity: 20% (2,000,000,000) to provide initial liquidity on DEXs and CEXs, with a portion immediately available and the remainder gradually unlocked as needed.
• Ecosystem: 25% (2,500,000,000) to incentivize developers, users, and partners, awarded through grants and awards over 5 years.
• Treasure: 30% (3,000,000,000) reserve for strategic efforts, guaranteeing the protocol’s sustainability, and subsidized gas fees, unlocked when needed.
• Loyalty: 10% (1,000,000,000) for Loyalty Program point holders with a one-year unlock time
• Team: 15% (1,500,000,000) for the core team and advisers, with a three-year unlock time.

2% of the 10 billion HAUST tokens will be in circulation within the first two years.

Conclusion

As blockchain technology advances, Haust Network is set to play a key role in influencing the future of decentralized applications. Haust Network, emphasizing scalability, interoperability, security, and user experience, offers a strong and adaptable platform that can meet the growing needs of the blockchain ecosystem. The network’s commitment to innovation and excellence distinguishes it as a promising player in the blockchain sector with potential impact.