Stellar Foundation Awards $250,000 Grant to HOT Labs for Boosting Chain Abstraction Advancement
Chainwire, San Francisco, May 14th, 2025
HOT Labs, a leading innovator in the blockchain sector, has scored a whopping $250K grant from the Stellar Development Foundation (SDF). This strategic alliance is gunning to integrate Stellar's blockchain into HOT Labs' products – HOT Protocol and HOT Wallet – crafting a sleek, economical experience for users. Thanks to the SDF's grant, transaction costs within the HOT Wallet will be virtually obsolete, creating a genuine, effortless chain abstraction experience and unleashing the true potential of the HOT Protocol.
Born in 2024, HOT Labs burst onto the scene following a bang-up success in the burgeoning Mini Apps ecosystem, thanks to its game-changing wallet product. The company's quick ascent into the limelight came from its tireless pursuit of simplifying blockchain dealings. Millions of worldwide users have hopped on the bandwagon, thanks to innovations like gasless transactions and centralized key management. The team remains firmly committed to eradicating technical barriers in the blockchain arena, making it a breeze for everyday users to dip their toes into this revolutionary technology.
spearheading the Stellar integration is HOT Labs' CTO, Andrey Zhevlyakov. A seasoned tech guru with a rich background in decentralized systems, multi-chain protocols, and user-friendly blockchain interfaces, Zhevlyakov has worn many hats, including commanding technical development at HOT Wallet. Scaling it to cater to over 30 million users. Zhevlyakov churned out his computer science degree from ITMO University and paved the way for the technical foundations of FORA Vision. This marks yet another triumph for the swift team, demonstrating that a small, powerhouse team can rule the roost in a fiercely competitive market.
The Stellar integration will proceed in three sequential phases: first, they'll be embedding Stellar support directly into HOT Wallet, enabling users to frolic with their Stellar assets without worrying about transaction fees. Next up, Stellar will intertwine with HOT Protocol and HOT Bridge, making cross-chain interactions between Stellar and key other networks a cinch. Lastly, Stellar's ever-growing DeFi ecosystem will mesh with HOT Omni Balance, allowing users to immerse themselves in the wild, wild world of decentralized finance with a single, streamlined interface. This phased increment promises to pump up Stellar's ecosystem by enticing more users and liquidity.
"Andrey and his team are newcomers to reckon with," states HOT Labs CEO Petr Volnov. "Since Stellar integration, we've noted a 100,000+ spike in USDC holders on Stellar. This early triumph underscores the prowess of chain abstraction in driving blockchain adoption."
About HOT Labs
HOT Labs is an experienced blockchain development and research team. The dynamic duo of Petr Volnov and Yuriy Olentyr have a history of crafting products for NEAR and TON that have garnered millions of users. As HOT Labs, these whiz kids aim to build on their triumphs with HOT Wallet and HAPI to create solutions that make web3 accessible across the multichain spectrum.
Contact
Petr Volnov – [email protected]
- HOT Labs, in collaboration with the Stellar Development Foundation, aims to integrate Stellar's blockchain into HOT Labs' products – HOT Protocol and HOT Wallet – with the end goal of providing a smooth, cost-effective experience for users.
- As part of the Stellar integration, HOT Wallet will remove transaction fees, creating a seamless chain abstraction experience and unlocking the full potential of the HOT Protocol.
- With the SDF's grant, HOT Labs, a leading innovator in the blockchain sector, will implement a phased increment, allowing Stellar to interoperate with HOT Protocol, HOT Bridge, and HOT Omni Balance, thus promoting cross-chain interactions and making decentralized finance accessible via a single, user-friendly interface.
- As demonstrated by the success of HOT Wallet and the recent spike in USDC holders on Stellar, HOT Labs is spearheaded by Andrey Zhevlyakov, a seasoned tech guru with expertise in decentralized systems, multi-chain protocols, and user-friendly blockchain interfaces.
- HOT Labs envisions a future where web3 technology becomes accessible across the multichain spectrum, empowering everyday users to leverage the benefits of decentralized finance and various blockchain platforms.
