WHAT IS HYDRADX?
HydraDX is a cross-chain liquidity protocol built on Substrate. It is a base layer for financial use cases, currently - immediate exchanging assets.
IN HYDRADX PROVIDE:
WHAT MORE DO THEY HAVE PLANNED FOR YOU?
Later they will enable more advanced use cases starting with lending and borrowing which open other possibilities like derivatives (options).
In order to achieve the optimal properties, HydraDX is built as a parachain – specialized blockchain in the Polkadot network, benefiting from shared security, speed and flexibility of the Substrate framework while remaining optimized for a single purpose: enabling fluid programmable value exchange.
WHY A (PARA)CHAIN?
Separate parachain on Polkadot provides they with the freedom to customize they blockchain for financial use cases (lending, borrowing, asset exchange, etc.). Substrate base allows they to create seamless upgrades without forks or breaking changes.
Substrate is a modular blockchain framework used in many other blockchains (Kusama, Polkadot, Edgeware, etc.) maintained by the vast community of developers. They high scalability, predictable fees, possibility of implementing front running resistance - and many of they virtues are possible by using Substrate technology.
WHAT IS HDX TOKEN?
HDX is a native token of HydraDX. It will be used for governance, staking and more. They will disclose details when model is validated.
WHAT USE HDX FOR?
HOW TO EARN HDX?
Provide liquidity and be rewarded by earning HDX.
Buy on HydraDX mainnet.
Stake HDX and earn even more HDX
Support ecosystem by taking part in bounties and getting paid from treasury
CAN I BUY HDX NOW?
The seed round and LBP are over and right now there is no possibility to buy HDX tokens. The token will become tradable in the mainnet. See how to earn HDX above.
WHAT IS THE VESTING SCHEDULE FOR THE TEAM AND INVESTORS?
The current vesting schedule stands as following:
Investors have a vesting period of 18 months, with gradual unlocking, starting at the mainnet launch.
The team and founders are vested for 18 months, starting 6 months after the mainnet launch with gradual unlocking. (24 months total)
DO I NEED TO HAVE HDX TO USE HYDRADX?
For trading, you don’t need to have HDX. Transactions are paid in the traded token, but it gives you benefits like lower fees.
WHAT USE CASES DOES HYDRADX COVER?
WHAT DO I GET FOR PROVIDING TOKENS AND ASSETS FOR LIQUIDITY POOLS?
HDX & fees
IS THERE ANY EXCHANGE LISTINGS PLANNED AND WHEN WILL THE TOKEN BE TRADABLE?
They are not actively seeking listings. The ultimate goal is to have HDX priced and traded in and around they native liquidity protocol - Omnipool. However, they do not discount the possibility that HDX will be listed on other exchanges.
Nevertheless, it is unlikely that the exchanges will list new Substrate-based tokens before parachain auctions. The early entry through the Balancer LBP was for people who believe in the team, the idea and the tech.
Please keep in mind that tokens will likely not be tradable for some time (probably until mainnet plus couple of weeks). The tokens, however, will be immediately stake-able, generating rewards during the „unlisted” phase and beyond.
HOW ARE THE TOKENOMICS SET?
The tokenomics is in an advanced stage of being formalized. Given that HDX has some unique properties, the team, along with they partners at Blockscience, are making sure that every detail and edge-case scenario is covered.
Note, that the whole project is very long-term oriented so one can expect that the parameters will be aligned with such ambitions. They expect the details to be fully formalized and revealed in the next couple of weeks.
The basics that we already know:
The circulating supply at mainnet is expected to be ~25% total (out of which 60% are being vested).
HOW ARE XHDX SWAPPED INTO HDX?
xHDX is an ERC20 representation of HDX. xHDX will be redeemable as HDX 1:1 on the HydraDX Stakenet. After the claim, xHDX will be your early adopter badge on Ethereum forever.
WHAT IS THE TIMEFRAME FOR LAUNCHING HYDRADX?
HOW MUCH DID THE PROJECT RAISE IN THE SEED ROUND?
The company tasked with deploying the HydraDX chain has raised $1.5 million. Proceeds are being used for ongoing development of HydraDX.
ANALYSIS OF THE BALANCER LBP
The final price was $0.08059 per xHDX. A total of ~22.9 million DAI has been raised as the initial liquidity for the HydraDX chain (of which 430k+ in fees). 87% of xHDX from the pool have been sold and the remaining 13% of xHDX (0.65% of total supply) will be moved to the HydraDX treasury.
A more detailed article can be found here.
HOW DO I PROPOSE A CHANGE TO HYDRADX?
Please use they discord channel.