degengami

staying hydrated at @hydra_dx & @bsx_finance

[Hydration @hydration_net]

INTR just landed in the Omnipool

Welcome to our ocean of liquidity @InterlayHQ

[jgreen (🐍,💦) @JindrichGreen]

DOT→USDT conversion for Polkadot Fellowship salaries

The shift towards a more decentralized approach to @Polkadot's development brought a natural need to find a way to provide its core contributors with a regular income. The DOT treasury can meet this demand to a certain extent. However, its native asset is not ideal due to its volatility. There has been a call to convert it into a stable asset.

Recently, bounty proposal #26 was posted at https://t.co/qrDa6xhgL8. This bounty aimed to allow users to convert $DOT to $USDT by depositing USDT into the fellowship account and then claiming DOT with a 10% premium (later reduced to 5%). Anticipating this approach would lead to high costs for treasury and significant overhead for curation, we presented a more efficient alternative to the fellowship.

There are three key ingredients to @hydra_dx's recipe: the deepest liquidity of native USDT in the Polkadot ecosystem, our battle-tested and probably most useful feature so far, the DCA pallet, and the natural XCM connectivity with the Relay chain. We believe the most efficient and manipulation-resistant approach to the problem is to set up a DCA schedule that regularly converts DOT from the Treasury to USDT and sends it periodically to the Polkadot Asset Hub.

This systemic DCA approach alleviates the overhead associated with curation, reduces the cost to approximately 0.4% of the total amount, and eliminates the potential scenario of one or a few fastest whales needlessly taking a large portion of the treasury. It provides a resiliant, future-proof way to convert and stream assets while their price fluctuates.

Importantly, the DOT treasury assets are in control of the Relay chain at all times, as the balances are kept only on its sovereign account which is controlled by the Polkadot governance participants.

This creates a next-level trustless XCM use case, showcasing the possibilities of the heterogeneous multichain, empowered by the most advanced governance system and shared security.

The proposal has been submitted on-chain. You can find out more about it here:
https://t.co/m1DmuNTMRA

[Hydration @hydration_net]

Stablepools are now live on the most hydrated DEX of @Polkadot

Starting with a 4pool of USDC-DAI-USDT (@MoonbeamNetwork), and USDT (native)

Unlocking further trading efficiencies, the combination of Stablepools + Omnipool means that you will never be left behind the curve

A 🧵

[Hydration @hydration_net]

1/ The HydraDX monthly update for September is out! Catch up with the latest on @MoonbeamNetwork Routed Liquidity, native USDC, HDX staking, and more 👇

[Hydration @hydration_net]

Exciting news! 🎉 Native $USDC has arrived and is now available on HydraDX! This launch cements @Polkadot's position in developing into an upcoming hub for #DeFi protocols and assets.

With deepening liquidity and seamless functionality, USDC unlocks new opportunities!

[Hydration @hydration_net]

HDX Staking is now live on mainnet 💦

https://t.co/6Mptmce85a

More info in 🧵

[DefiLlama.com @DefiLlama]

Now tracking @hydra_dx AMM on @hydra_dx

An AMM which unlocks unparalleled efficiencies by combining all assets in a single trading pool

[Hydration @hydration_net]

The HydraDX monthly update for July is out🔥

Dive in to found out about all the exciting new features, partnerships, and more!

TLDR in 🧵

[Hydration @hydration_net]

HydraDX Monthly Update - Jun 2023 🐉🌊☀️

1/4: Dive into the summer season with HydraDX DCA! Gain exposure to major assets in the @Polkadot ecosystem with DCA. Spread trades over time, protect against volatility, and achieve smooth average pricing.

[Hydration @hydration_net]

.@hydra_dx now live on the Ecosystem Stage at @PolkadotDecoded

[Hydration @hydration_net]

DCA like a pro with HydraDX

Using our intuitive UI, you can now easily schedule trades for any Omnipool asset, to be executed every 1h, 2h, 4h, 8h, 12h or 24h - including slippage protection

https://t.co/x9IShjpe1d

🧵

[Hydration @hydration_net]

1/ HydraDX Monthly Update - May 2023

What have our contributors been up to this month?

https://t.co/Lb6EQeaC2W

Check it out the TLDR below 🧵 👇

[laurence @functi0nZer0]

The SEC suing the same company that the US government is selling Bitcoin through is so astonishingly funny I might have a stroke

[Hydrated Jakub (🐍,🐍) @GregusJakub]

1 of the most under appreciated property of AMMs against muh professional off chain market makers is that there is no AMM which would be deliberately dumping project tokens into market for MMing w free spot short power of x % of overall supply provided as free loan. @hydra_dx

[lolmcshizz @lolmcshizz]

Expecting a bunch of #OnlyOnPolkadot bull talk on this 😤

[Hydration @hydration_net]

Hydrator @degengami sat down with @polkaworld_org earlier this month for an Omnipool 101 - find out how HydraDX is providing an ocean of liquidity to @Polkadot

[Pudgy Asia🐧 @PudgyAsia]

For our Asia Huddle #23, we're talking all about TOYS with @LucaNetz! 🐧

Happening next week Tuesday, join us for the latest updates (and alphas) as we get our bags packed for Pengu Szn 🔥

https://t.co/YAAkX47VzR

[degengami @degengami]

👀 #Bitcoin

[Tyler @TylerDurden]

Maybe the greatest trader of all time Stanley Druckenmiller is bearish $ but you still think you know better.

[yvette🐧 @yvette]

Meet your friendly neighbourhood Hong Kong Pudgy Penguins and come build the HK huddle over casual dinner & drinks on 26 April (Wed) in Central 🐧🎣🇭🇰

🍴RSVP by reply or DM @DegenDen_eth @degengami @yvette

[degengami @degengami]

@DegenSpartan ty for dumping (more knowledge) on us 🫡