• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Hydration's Recent Boost in Funding from Polkadot Treasury

user avatar

by Giorgi Kostiuk

a year ago


Rewritten Article

In Gibraltar on June 10th, 2024, the leading DeFi venture of Polkadot known as Hydration has received a substantial funding boost. The project has been granted 2 million DOT tokens from the Polkadot treasury, amounting to $14.4 million. This financial injection is aimed at enhancing the liquidity and trading efficiency of Hydration's innovative single-sided liquidity provisioning platform, Omnipool.

The distribution of DOT tokens has a two-fold objective. One million DOT will be allocated over the next year to attract new liquidity to the Polkadot ecosystem. Liquidity Providers (LPs) will be rewarded with returns exceeding the 200% APY threshold. Due to the unique design of the Hydration Omnipool supporting single-sided LPing, users can begin earning rewards by staking a single asset and participating in incentives farms. Various assets including native stablecoins, DOT, BTC, and other ecosystem coins are encouraged.

The remaining one million DOT will be directly infused into the Hydration Omnipool to establish a robust and accessible layer of native liquidity, benefiting the broader Polkadot 2.0 ecosystem in the long term (Treasury Proposal #730). This addition supplements the existing liquidity of over 690k dot and 560k vDOT already provided into the Hydration Omnipool.

Jakub Gregus, one of the co-founders of Hydration, expressed his enthusiasm, stating, “This generous allocation from the Polkadot treasury signifies a groundbreaking moment for Hydration. With this substantial liquidity injection, we can significantly enhance our liquidity pool, crucial not only for our expansion but also for the overall health of the Polkadot ecosystem.

The Hydration Omnipool is specifically designed to offer unmatched efficiency and accessibility in trading crypto-assets. The backing from the Polkadot treasury underscores the potential impact of our progressive approach.”

The funding set aside for the Hydration Omnipool, delivered in a decentralized and non-custodial manner, will be managed by the Polkadot Protocol and OpenGov.

This strategic move is expected to drive significant advancements in how liquidity is provided and managed within the Polkadot ecosystem, establishing a new standard for liquidity solutions in the interconnected blockchain network.

About Hydration

Hydration serves as the primary liquidity protocol on Polkadot, with a mission to streamline DeFi into a seamless, efficient, and unstoppable sector. By combining swaps, lending, and a stablecoin currency within a single, scalable appchain, Hydration offers single-sided LPing, automated trades (DCA), and limit orders, making it the most efficient liquidity platform on Polkadot.

Contact

Ecosystem Lead Ben M Intergalactic Limited saas@hydradx.io

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bullish, the Crypto Exchange Backed by Peter Thiel, Prepares for IPO

chest

Bullish has filed for IPO, seeking to enter the public market and compete with major players.

user avatarGiorgi Kostiuk

USDC Use on Stellar and Its Impact on XLM Value

chest

Statistics show a rise in USDC transactions on Stellar, indicating growing utility that fuels speculation on XLM prices.

user avatarGiorgi Kostiuk

Litecoin Records New Open Interest at $761 Million. Is LTC Heading to $120?

chest

Litecoin has reached a new record open interest of $761 million, and 66.3% of addresses are in profit, raising hopes for a price increase to $120.

user avatarGiorgi Kostiuk

World Liberty Announces WLFI Token Launch Valued at $16 Billion

chest

WLFI token by World Liberty plans to debut with a $16 billion valuation, with significant backing from DT Marks DEFI LLC.

user avatarGiorgi Kostiuk

Impact of GENIUS Act: Trump Establishes Federal Stablecoin Guidelines

chest

President Trump has signed the GENIUS Act, establishing federal regulations for stablecoins and impacting the U.S. crypto landscape.

user avatarGiorgi Kostiuk

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.