HYDRA DEX Goes Live — Trade Now!
After near four years of continuous research, relentless work, and prototyping, Hydra Chain launches its own fully functional decentralized exchange - the HydraDEX.org
A critical milestone, achieved by very few of the currently existing public blockchains.
With HYDRA, there is fundamental attention to the economics that make, secure, and sustain a blockchain’s ecosystem healthy. Ethereum has proven that the biggest and most advanced, decentralized utility comes from decentralized Finance which in its core is fueled by decentralized exchanges. In fact, roughly 70–80% of all transactions on Ethereum are DeFi-based.
A blockchain without a strong liquidity ecosystem is almost as deficient as a blockchain without decentralization.
HYDRA’s engineering plan consists of hundreds of tasks, which are signified by five fundamental milestones.
The launch of the DEX is the result of an extensive engineering cycle and is the logical extension of everything that has been achieved so far. What’s more important is that it marks the beginning of the liquidity phase of HYDRA. As of this moment, any token can be deployed and a pool can be created. A vital benefit that enables new tokens and projects to connect with HYDRA and its existing liquidity.
Adding liquidity to existing pools and creating completely new pools is as easy as a few clicks. However, please be aware of the benefits and risks each of these options bring. We will soon be sharing in-depth information on these, to ensure everyone is well informed.
An Important Beginning
HydraDex v 0.9 is just the first phase of the decentralized liquidity ecosystem of Hydra and is part of an elaborate plan on how to expand and develop the technology to enable Hydra with additional economic competitive advantages over other public blockchains.
Why v 0.9? The Dex has all the core functionality. Users can swap, deploy and extract liquidity in the same way as the most advanced DEXes currently available. However, it lacks some peripheral data services that simply enhance the user experience.
🚴♂️ The Road-Map ahead looks as follows
- V 0.9 — Core Swap & Liquidity — DONE - the goal is to supercharge and adapt existing proven technology and also to provide a solid fundament for our team to continue to expand and build on. The current version packs all swap and liquidity features that e.g. Uniswap and Sushiswap can do.
- V 1.0 — Data, Charting and API Endpoints — Will feature all the rich data services that make it possible for a user-friendly interface with charting capability, sorting, APY context, as well as API endpoints for integration with data aggregators such as CoinMarketCap and CoinGecko. This is an important background service that enables discoverability and also facilitates arbitrage trades.
- V 1.1 — Ethereum Bridge - Will feature a user-friendly single-click bridge. An important feature that will create a seamless way for capital to migrate from ETH onto the liquidity core of Hydra.
- V 1.2 Liquidity Mining — Liquidity Mining is the essence/driver of a DEX’s adoption. It incentivizes users in an inverse exponential way — stimulates usage and acts as an engine to attract capital into its unique liquidity ecosystem.
- V 1.3 Single-Sided Liquidity Prototype — As a next phase, and after the liquidity bridge and liquidity mining programs are effectively deployed, the target goal is to launch a pivotal upgrade that would make single-sided liquidity possible. A technology that would enable LPs to provide liquidity without suffering impermanent loss. As of this moment, there is only a single other project that has partially achieved this (on a global scale). The design work we’ve done is fundamentally sound and all simulations provide us with a fairly high level of confidence to believe that we may actually pull this off. Development on this will begin after all other milestones have been completed.
🔎 A Quick Comparison
As of this moment, the publicly known blockchains that support a fully-fledged, production deployed decentralized exchange are:
Ethereum
BSC
Polygon
Eos
Tron
Solana
With a handful of additional ones still in the testing phase and/or have partially developed product that lacks critical functionality (NB! Due to the limited number of public data, if you believe we are missing any other project out, feel free to ping us and we will gladly expand the list).
Needless to say, considering there are 11,304 projects available according to CMC, what Hydra achieves with this milestone and through its own unique economic design, is a serious attempt to demand its spot on the global blockchain landscape.
🔹 First Pool goes LIVE with HYDRA:LOC
Hydra to LOC conversions can now be made through the HydraDex.org interface. Simply connect your browser extension wallet and enter the amount you want to trade.
The first iteration of the pool has been deployed with approximately $125,000 per side, which is comparable to what LOC had as a pool with Bancor prior to the blockchain switch.
In order to facilitate a swap, you will need to install the HydraWallet browser-based extension (compatible with all Chromium-based browsers)
Our team will phase in additional chunks of liquidity in a gradual way over the next few months and grow the size and weight of the pool.
We may also announce additional incentives and potentially liquidity mining campaigns that would further incentivize community liquidity providers to contribute to the pool.
Anyone who places HYDRA and LOC into the pool will automatically receive their proportionate size of exchange fees.
A Powerful “Level-up” for ALL
This not only marks a new era for Hydra — but also enhances the capabilities for all ecosystem participants.
The HydraDex enables Hydra ecosystem members such as LockTrip, Evedo, GoMeat, Rezchain, and potentially any other new coming projects to strengthen their liquidity through the decentralized exchange. This on its own greatly enhances the chances for success for any project that is building on Hydra.
Traders on the other hand gain access to dense liquidity pools and will no longer be dependent on centralized exchanges. Liquidity providers can earn passive income by deploying their funds into the pools (more information on this to be shared later).
If you have any questions, please don’t hesitate to join the Hydra community below.
👉 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
