HydraDX’s Newsletter

Share this post
HydraDX Crowdloan Is Now Live!
hydradx.substack.com

HydraDX Crowdloan Is Now Live!

Entering the race for a Polkadot parachain slot

HydraDX
Dec 28, 2021
17
5
Share this post
HydraDX Crowdloan Is Now Live!
hydradx.substack.com

Dear Hydraheads,

We are happy to announce that the multi-headed liquidity monster has just made its crowdloan debut. As per this announcement, you are invited to ape in and help HydraDX become a Polkadot parachain. A belated XMAS present at its best.

HydraDX Crowdloan Details

  • Visit: https://loan.hydradx.io/

  • Crowdloan start: 28 December 2021

  • Bidding on slots: #6 - #11

  • Onboarding of winning parachains: 11 March 2022

  • End of leased parachain slots: 12 January 2024

  • Crowdloan cap: 8,000,000 DOT

  • Rewards: between 280 and 12.5 HDX per contributed DOT

  • Rewards cap: max. 1,000,000,000 HDX (10% of total supply)

  • Vesting period: HDX rewards are distributed linearly. The distribution will start after HydraDX has been onboarded as a Polkadot parachain and the transition from Snakenet (our testnet) has been completed. 

  • Crowdloan campaign deadline: 12 March 2022

Rewards

All participants in the HydraDX crowdloan will receive HDX in exchange for their contributions. The amount of the rewards depends on our rank in the parachain auction race at the time of your contribution, as well as the total amount of DOT which have been contributed by others.

Contributions made before HydraDX is leading the race by 15% will receive the highest amount of rewards - between 280 and 125 HDX per contributed DOT. 

After we have secured a comfortable lead, the rewards will start decreasing linearly. They will be at their lowest level once HydraDX has a lead of 25% or more. Contributions made during the time that we are leading by more than 25% will receive between 28 and 12.5 HDX per contributed DOT.

The rewards system is designed to offset the opportunity costs of locking your DOT for the duration of the parachain lease, as opposed to staking it. Contributions made before we have gained a 15% lead will get their full opportunity costs reimbursed. The price of HDX used for the calculation is $ 0.026. This number is based on the closing HDX LBP price of $ 0.08 (February 2021), after taking into account the upcoming tripling of all balances which were built up during our testnet.

There is really only one right way ahead.

Our Value Proposition

HydraDX is the creator of the Omnipool. Driven by the ambition to put an end to liquidity fragmentation, we have challenged the misconception that AMMs should be limited to pairs of assets. The Omnipool allows users to submerge any cryptoasset in an ocean of liquidity.

One trading pool - many assets. Empowering native liquidity for the Polkadot ecosystem, and beyond.

Happy crowdloaning!

5
Share this post
HydraDX Crowdloan Is Now Live!
hydradx.substack.com
5 Comments

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

Sellers
Dec 31, 2021

PS: I cannot connect my DOT on Polkadot substrate to the link you provide.

Expand full comment
ReplyCollapse
Sellers
Dec 31, 2021

can you provide a link to contribute DOT to the crowd loan please?

Expand full comment
ReplyCollapse
3 more comments…
TopNewCommunity

No posts

Ready for more?

© 2022 HydraDX
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing