Hydro Protocol and Olympus Labs partner to provide liquidity for all products built with Olympus Labs protocol
Hydro Protocol and Olympus Labs partner to create a highly liquid decentralized network for Olympus Labs projects.
June 18, 2018 — Hydro Protocol and Olympus Labs have formed a long-term partnership to increase the adoption of decentralized exchanges and financial DApps. To initiate the partnership, Olympus Labs token MOT will be listed on Hydro’s decentralized exchange DDEX.
Olympus Labs will build a relayer on Hydro Protocol that serves as a decentralized exchange for all products created using the Olympus Labs protocol to be traded. The liquidity of this decentralized exchange will be shared with DDEX, powered by the Hydro protocol.
“We are excited that MOT traders can now do so seamlessly on DDEX directly from their wallets,” said Kai Chen, CEO of Olympus Labs. “Making it easy to trade for both new and experienced cryptocurrency traders alike, Olympus and DDEX are aligned in how we care about the user experience for our users.”
“I met Kai two years ago at ZhenFund’s Zhen Residences program. We are honored to be partnering with Olympus Labs, developing a new Hydro node on their protocol to lead the way in creating more complex financial derivatives together in the future,” said Bowen Wang, CEO of Hydro Protocol. “As more Hydro nodes go live, we will see more interesting use cases utilizing Hydro Protocol in the third quarter of 2018.”
Hydro introduced the concept of “Federated Liquidity Pools” to essentially pool together liquidity across decentralized exchanges using the Hydro Protocol Token (HOT). HOT thus defines how to execute decentralized orders and provides the mechanism for order matching. There are built-in economic incentives with HOT, where decentralized exchanges can stake HOT to gain membership into liquidity pools, and are rewarded for contributing their liquidity and taking part in governance. Exchanges can also reward professional market makers by pre-allocating tokens to them with a smart contract, incentivizing market makers automatically.
Olympus Labs, as a financial protocol, will enable multiple cryptocurrency financial products to be built in a decentralized manner by influencers and users alike. As such, bootstrapping liquidity for these financial products is key to ensuring greater adoption and usage. The relayer built on Hydro will contribute Olympus’ liquidity to Hydro, while this addition to the Olympus Labs protocol means that Olympus Labs can now serve as its own decentralized exchange. Hydro will ensure that the decentralized exchange with Olympus’ products remains appropriately incentivized and liquid as more products become available on the marketplace.
The flexibility of the Olympus protocol will also lead to future development of more complex financial derivatives for cryptocurrencies, such as futures, options, swaps, and other financial products more familiar in the traditional finance space. Olympus Labs is working with institutional players to create these financial derivatives, ensuring that the wider financial market is able to gain exposure to cryptocurrency investment in a measured and deliberate way.
This win-win partnership will lead to the rise of more financial decentralized applications (dApps) and greater adoption of decentralized exchanges among funds and investors, paving the way for a more trustless and decentralized world.
About Olympus Labs
Olympus Labs is a protocol for developing cryptocurrency financial products such as indices, funds, lending products, futures, options, and other types of financial products. The ability to support the creation of so many types of products is made possible by modularized design thinking and creating a set of core components that form the basis of these products such as rebalancing, fee calculation, risk control, etc. Smart contract developers can easily build their own financial product templates through their unique combination and assembly of Olympus core components.
Olympus Labs is building a blockchain fintech ecosystem by leveraging the core components and the financial product templates. Existing applications can integrate Olympus Protocol to provide more functionality and product offerings to their users. Developers can use the protocol to build a new generation of financial DAPPs. The Olympus Protocol supports fintech applications such as wallets, portfolio tracking applications, investment manager applications for creating and managing financial products, financial product marketplaces, financial product exchanges, and much more. Olympus Labs will provide development tools such as SDKs and APIs to facilitate integration into existing applications and building new ones.
For more information about Olympus Labs:
Telegram (English): https://t.me/olympuslabs
Telegram (Chinese): t.me/OlympusLabsChina
New to Hydro?
Hydro is a network layer protocol for high performance decentralized exchanges and marketplaces with built-in incentives for coordination. Hydro utilizes’Federated Liquidity Pools’ (FLP) to address the issue of liquidity sharing among various decentralized exchanges.
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