Strategic Synergies — The Hydra DEX Staking Feature is LIVE!
We are excited to announce another feature going live on the Hydra DEX — Custom Staking Campaigns!
You can access the new functionality through the link below:
Today’s announcement is the result of a close collaboration between the teams of ChangeX and Hydra. The feature unlocks a number of new opportunities to the Hydra ecosystem that weren’t available before and enables projects a completely new layer of token economy with a single click.
The first project to take advantage of the functionality is ChangeX itself, through their recently launched staking campaign. The event was planned from the beginning and developed into a core component of the early-phase token economy.
The Hydra DEX Staking feature is another example of how strategic synergies between ChangeX and Hydra benefit the entire ecosystem
At the time of writing, the CHANGE staking APY sits at roughly 770%. Combined with the recently launched ChangeX liquidity event on the Hydra DEX, the impact on the transactional activity can be clearly seen in the chart below.
Notice the increased activity starting with the liquidity event on July 19.
How it Works
A new tab titled “Staking” was added to the Hydra DEX interface.
After selecting the token to be staked (currently only ChangeX is available), the staking interface will present itself with an input field for the amount of tokens to be added.
You will see the projected annual reward as well as the staking APY immediately as a response to your input. Note that the APY takes into account the dilution your added balance will create. Hence if you input a very high number relative to the staking pool size, you should expect the APY to experience a slight drop.
Once you are ready, simply click on “Stake” and then “Approve” as shown below:
The blockchain now needs to confirm your transaction, which can take a while.
Once the transaction is confirmed, you will see the notification at the top right corner. In this exampe, 500 CHANGE tokens were staked.
You will now see two numbers on the interface. One is the “staked balance” which is showing 500 tokens. The other one is your current profit, which is calculated in real-time every second. The 3 screenshots below were taken with a delay of few seconds each.
One important component of the system is the “Restake” feature. It allows you to compound as often as you like. The optimal compounding frequency depends on your staking balance as well as the APY rate.
Finally there is also the option to “Withdraw” (redeeming only the current profit) and to “Unstake” (redeeming the staked balance).
There is no lockup period, so entries and exits are possible at all times.
Preparing an Exciting Future
This milestone is a great example of the synergies that are possible and how the various pieces of the puzzle are slowly coming together to form a bigger picture.
Every new feature unlocks new possibilities not only for the chain itself, but also for all projects building on top of it. In other words, the ecosystem as a whole becomes more valuable than the sum of all of its components.
Note: The feature described in this article is strictly about staking HRC20 tokens via smart contracts. It does not enable offline staking for HYDRA, which is a protocol-level feature currently undergoing public testing.
👉 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
