Hyperlane (N/A)

What is Hyperlane? 🤔

Hyperlane is a modular permissionless interoperability layer connecting any blockchain or dApps to the vast ecosystem of more than 5 smart contract execution environments and 50+ chain networks. 

It is built as a modular interoperability stack, allowing any developer to seamlessly connect their dApps or blockchain networks to the Hyperlane ecosystem while maintaining control over their Interchain Security Model (ISM). Furthermore, to simplify the process of customizing the module's security, the Hyperlane app offers a set of pre-built ISMs, enabling dApps to deploy modules "off-the-shelf" and configure them with their own parameters. 

This provides web3 builders with extensive opportunities to customize their security stack using white-labeled or self-made interoperability solutions tailored to the specific needs of their platform, without the need to build it from scratch.

At the moment, the most notable dApps built with the protocol include the ezETH Hyperlane bridge, interchain stablecoin protocols Yama and Dam Finance, as well as many other cross-chain bridges such as Nautilus and Injective’s inEVM token bridge. Furthermore, the recent release of its new yield routing feature played a major role in establishing the omni-chain yield marketplace Superform, which we have previously covered.

🪙 Hyperlane token: As of September 2024, the protocol has not hinted at the potential release of its token or an upcoming Hyperlane airdrop for its users. For example, many projects with similar products, like Polyhedra or LayerZero, conducted multiple growth marketing campaigns before confirming the release of their tokens to gain additional exposure within the crypto community.

However, there have also been cases, such as with Wormhole, where the project did not discuss token release until the airdrop announcement. If we assume that Hyperlane will eventually have its own token, the CoinLaunch team speculates that its main utility will likely be rewarding node runners and giving users access to the protocol's DAO layer.

Considering the potential release of the Hyperlane coin, our team decided to conduct in-depth research on the project to uncover its biggest pros and cons.

✅ Hyperlane pros:

• Decent concept and design of the product;
• High PR, growth marketing, and influencer marketing scores;
• The platform has been audited multiple times by prominent cybersecurity companies such as Trail of Bits, Zellic, and others;
• A robust network of investors has collectively invested over $18.5M into the project;
• A diverse network of blockchains and apps within Hyperlane’s ecosystem;
• The core team has rich work experience in Galaxy Digital, Celo, Apple, and Google.

❌ Hyperlane cons:

• No tokenomics or any other public info about the token;
• No roadmap;
• Team is not active in social media; 
• Weak Marketing infrastructure;
• Below the average SMM, and SEO performances.