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Introducing Cross Send: A Multi-Chain ETH and EVM Network Token Sender
Ethereum, BSC, Polygon, HECO Chain, KCC, Harmony, and Avalanche Supported
Hot Cross is proud to announce the upcoming launch of Cross Send, a native chain asset and multi-chain token sender from a unified interface. In addition to the release of Cross Send, we are also adding support for two new EVM-compatible blockchains into our unified cross-chain dApp widget Cross Connect: Harmony and Avalanche.
Additionally, we have worked on a smoother UI/UX across the entire Hot Cross product suite that we plan to roll out during the months of September and October. Cross Send will be competitive on costs for the end-user, offer paying for transactions via the HOTCROSS token itself, and make switching from blockchain to blockchain a breeze as we witness the explosive growth of multi-chain DeFi.
The system architecture and user journey of Cross Send are designed as such:
A user visits Cross Send;
The user connects to the desired blockchain using Cross Connect;
A CSV file is uploaded (or manual input) with blockchain addresses, commas, and amounts of a token to send;
The dApp will run a series of checks to avoid common errors when sending tokens to multiple recipients;
Finally, the user would sign a single transaction and have Cross Send perform a batch transfer to the list of provided recipients.
The fee structure of Cross Send is simple. We begin with the premise that we wish to save users time and batch transaction costs relative to other solutions currently on market. While time is subjective and difficult to quantify, transaction costs can be clearly defined. Thus, the concept of fees factors in the gas cost savings from using Cross Send versus doing the same tasks in a manual fashion.
For example, consider that an ERC20 transfer on the Ethereum blockchain costs $10 on average and we wish to send tokens to 1,000 accounts. A manual approach would incur a cost of $10,000. Cross Send, on the other hand, would be able to achieve the same result in a single transaction for a fee that is magnitudes lower than the aforementioned approach.
Thus a fee structure based on cost per recipient is a fairly simple one to understand. Cross Send also has the ability to set a minimum and maximum cap on transfer fees such that both the tool itself is sustainable and users are able to enjoy batch transfers without the enormous costs proposed by competitors.
Flexibility in Fee Payments, Discount for Payments Made in HOTCROSS
Cross Send also provides flexibility in paying fees: either by the native chain token or with HOTCROSS, which comes with a favorable discount. This means that it’s more economically viable to acquire HOTCROSS and use it for Cross Send payments rather than a native chain token such as ETH or BNB. On chains that do not yet have HOTCROSS liquidity, the native chain token can be used as a form of batch transaction payment.
In short, the following four scenarios are possible with Cross Send:
Batch transfer native chain currency, pay using native chain currency;
Batch transfer native chain currency, pay with a discount using HOTCROSS;
Batch transfer any ERC20 or EVM network token and pay in native chain currency;
And batch transfer any ERC20 or EVM network token and pay in HOTCROSS.
Finalizing Audits Now, Launching Soon
Cross Send is undergoing audits now and will be launching out to market soon, further increasing the utility of HOTCROSS token itself and also bringing in a sustainable B2B and B2C revenue stream to Hot Cross through a tool that we trust will find wide use on all of the blockchains that we support through Cross Connect. Stay tuned for more updates as we bring Cross Send to life!
Ongoing Work at Hot Cross
Ongoing feedback loop for the products we’re building, including the minter
About Hot Cross
Hot Cross is an extensive multi-chain and cross-chain tool suite that enables blockchain teams and their communities to thrive. At its core, Hot Cross aims to be the best toolbox for ETH and EVM networks. Their development philosophy is agile, and they are a cohort of builders who aggressively seek out opportunities to meet the demands of the now for both B2B and B2C. The core thesis that Hot Cross presents is that users and teams will migrate in part to new networks that feel familiar when presented with sufficient tooling and freedom. Hot Cross is a company and an ecosystem in and of itself, and our goals are towards allowing communities to flourish using our technologies, whether or not they know we are the ones building them.