Hydra DEX Campaign Goes LIVE with 500% APY!
$1.5M Trial Budget for 3 Pools
In accordance with the previous announcement, we are happy to share that the Hydra Liquidity Mining Campaign goes live today.
A budget of $1.5M was reserved for a 5,000 HYDRA monthly reward pool for each of the pairs below:
- HYDRA/DAI
- HYDRA/ETH
- HYDRA/BTC
You can access the pools on hydradex.org and deploy liquidity to your preferred one (see the guide below in this article).
Tracking your Positions
For your convenience, we have developed a Google Sheet that will keep track of your positions and the overall pool performances. In the future, all of the information will be available in the DEX interface itself.
The below sheet shows an overview of all active LM campaigns (currently three), along with their estimated APY and locked up TVL.
Each pool has its own detailed analytics too, which shows the liquidity positions of all participating wallet addresses.
Hint: Once you provide liquidity to the pool, the sheet may take up to one hour to list it.
The sheet shows your HYD amount (which is the name of your pool tokens, not HYDRA). They are proof of your contribution to the pool. The “share of the pool” shows what percentage of the pool is owned by you.
Once the snapshots are taken, you will also see them listed on this sheet. The currently empty columns will then show 1) the number of HYD tokens you had during the snapshot and 2) your LM reward for this particular snapshot.
If you have further questions about the sheets, feel free to ask them in the Hydra community.
The Liquidity inside the Hydra DEX is Growing
The chart below shows the total liquidity provided to the Hydra DEX over time. As you can see, the growth trend has accelerated over the past few days.
We expect this trend to continue in the coming weeks.
Rules of the Campaign
- Rewards will be calculated based on your amount of pool tokens (HYD) at certain snapshots
- The first snapshot will be made with the block #349,300 (Wednesday)
- Following that, every 2,000 blocks (~3 days) a new epoch will start with a budget of 500 HYDRA per pool
- Every epoch will have exactly 1 snapshot, at a random block number
- The block at which the snapshot happens, will be determined by the hash of the final block of each epoch (following the logic of the airdrop snapshot system). Therefore it won’t be possible to know the snapshot block in advance.
- The APY is capped at 500% to ensure a more sustainable campaign
- Reward distribution will be made on a monthly basis
How to deploy liquidity (Guide)
Below we will briefly outline how to deploy liquidity to the DEX pools.
1. Acquire Hydra-based DAI, ETH or BTC
In order to deploy liquidity to any of the pools above, you will need HYDRA along with one of the three assets (depending on which one you choose).
Hint: Deployment can only be made with equal values. For example 100 HYDRA + 820 DAI, both having an equal value of $820.
You can bridge over funds from the Ethereum chain by using bridge.hydrachain.org. For a guide on bridging your funds, please see the section “How to swap your funds” in this article.
To display your DAI, ETH or BTC, you will need to add the tokens to your wallets via the following contract addresses:
DAI → abc2cd00700e06922bcf30fe0ad648507113cc56
ETH → ab9e970de9ba9ec2c64a7f7f911da44b750ecf6a
BTC → 27a459ac47204f1e7fc5c48ffeafa990af244e13
2. Deploy Liquidity
For this step you have two options.
Option 1: Using the hydradex.org interface by connecting your Hydra extension wallet with it (similar to MetaMask).
Option 2: Using the Hydra mobile app (During the first days the app may not show the newly added pairs DAI, ETH & BTC due to its cache. We are working a solution for this!)
In this guide we will be using option 1, but both work the same way.
Step 1: Log into your extension wallet (or mobile wallet)
Step 2: Connect your wallet with the DEX interface:
Step 3: Click on “Pool”
Step 4: Click on “Add Liquidity” and select the pair you want to supply (HYDRA + DAI or ETH or BTC)
Hint: HYDRA needs to be one of the assets.
Add the amount you want to add. The interface will automatically calculate the corresponding amount of the paired asset.
Step 5: Confirm the transaction
We are looking forward to the first snapshot on Wednesday and hope everyone will enjoy the campaign as much as we do!
👉 Join the Hydra Community
HYDRA is a proof-of-stake blockchain optimized for real-world businesses. It tackles some of the most profound and challenging issues with existing blockchain economies and introduces a truly shared economy with fair treatment to all network participants. Some of the more notable features:
🔥 100% Burn of all Transaction Fees
💎 50% Royalty on Gas for Smart Contract Creators → More Info
📌 Fixed Coin Transaction Fees of $0.20 → More Info
📌 Fixed Token Transaction Fees of $0.50 → More Info
💰 20% Minimum APR Staking Income → Staking Calculator
📈 Up to 540 TPS Elastic Capacity
🔏 EVM Compatible Smart Contract Platform
⚙️ Wallet-Level Scalability → More Info
🗳 Unique Decentralized Governance Protocol
