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HOT Labs Secures $250,000 Grant from Stellar Foundation to Accelerate Chain Abstraction Innovation
By: blockchainreporter|2025/05/14 17:45:05
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San Francisco, California, May 14th, 2025, ChainwireHOT Labs, a leading blockchain innovator known for its multi-chain wallet solution and Chain Abstraction infrastructure, has secured a $250,000 grant from the Stellar Development Foundation (SDF). This strategic partnership aims to integrate Stellar’s blockchain into HOT Labs’ products—HOT Protocol and HOT Wallet—making blockchain transactions seamless and cost-effective for users. Stellar’s grant will notably cover transaction costs within HOT Wallet, creating a genuine chain abstraction experience and unlocking the full potential of the HOT Protocol.HOT Labs, founded in 2024, emerged on the heels of a breakout success in the burgeoning Mini Apps ecosystem, propelled by the explosive growth of its flagship wallet product. The company quickly gained recognition for simplifying blockchain interactions, achieving rapid adoption among millions of global users through innovative solutions like gasless transactions and decentralized key management. The team’s mission remains focused on breaking down technical barriers to blockchain adoption, making it accessible for everyday users.Leading the Stellar integration is HOT Labs’ CTO, Andrey Zhevlyakov, a seasoned technology leader with extensive experience in decentralized systems, multi-chain protocols, and user-friendly blockchain interfaces. Zhevlyakov previously spearheaded technical development at HOT Wallet, scaling it successfully to over 30 million users. A graduate in Computer Science from ITMO University, he also contributed significantly to the technical foundations of FORA Vision. Notably, the initial version of HOT Wallet was developed by just two engineers, including Zhevlyakov, demonstrating how a small, highly skilled team can disrupt and dominate a competitive market.Integration with Stellar will occur in three strategic phases: first, incorporating Stellar support directly into HOT Wallet, enabling users to easily manage Stellar assets without transaction fees. Next, Stellar will be integrated into HOT Protocol and HOT Bridge, allowing seamless cross-chain transactions between Stellar and other major networks. Finally, Stellar’s growing DeFi ecosystem will connect to HOT Omni Balance, letting users engage in decentralized finance effortlessly from a unified interface. This staged integration promises to significantly boost Stellar’s ecosystem by attracting more users and liquidity.“Andrey and his team have delivered outstanding results,” said HOT Labs CEO Petr Volnov. “We already see tremendous impact—over 100,000 new USDC holders have joined Stellar since integrating into HOT Wallet. This early success highlights how effective chain abstraction can be in driving blockchain adoption.”About HOT LabsHOT Labs is an experienced blockchain development and research team. Founders Peter Volnov and Yuriy Olentyr have developed products for NEAR and TON that have attracted millions of users. As HOT Labs, the two founders aim to build upon their work with HOT Wallet and HAPI to create blockchain solutions that make web3 easier to access across the entire multichain ecosystem.ContactPetr Volnovpetr@herewallet.app
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