HydraDX Crowdloan Update

Targeting Parachain Slot #9

Dear friends,

It has been two weeks since the HydraDX crowdloan for a Polkadot parachain slot has started. We are humbled to see the support that we have received so far. With zero marketing efforts on our side, we have managed to receive enough contributions to surpass most competitors in the batch - currently standing at 1,372,815 DOT.

Given the current state of the parachain auctions, and driven by our honest ambition to not overpay for the slot, we have decided that it is best to update the target of our crowdloan to parachain slot #9 (previous target was #8).

This means that the rewards for crowdloan contributions will start decreasing linearly once HydraDX secures a 15% lead for slot #9 (auctioned in the period Feb 3-10). The rewards will be at their lowest point (10% of the usual rewards) for contributions made after we are leading by 25% or more.

At the time of publishing, HydraDX is leading the race for slot #9 by 16%. This means that the rewards for crowdloan contributions are already declining (currently at 93%).

We advise you to always check https://loan.hydradx.io/ for an up-to-date overview of the rewards percentage before making your contribution. If the rewards get too low, please don’t be discouraged. If the competitor for slot #9 closes the gap (or even takes the lead), the rewards will go up again.

Thanks everyone for supporting the multi-headed liquidity monster in the Polkadot race!

*knock knock* - “Who’s there ?” - A multi-headed liquidity monster. Let me in, I promise to behave.