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HydraDX Crowdloan Is Now Live!
Entering the race for a Polkadot parachain slot
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
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
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.
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.