This referendum, if passed, will place the following on-chain remark:

https://gateway.pinata.cloud/ipfs/QmaxqsF5ecSj6RSc48AYf9zZCXCntoAYGPLuHAnAhtWtYj

The on-chain remark links to an externally stored .md file with the following content, which is the output from two recent governance discussions https://hydradx.subsquare.io/post/33 https://hydradx.subsquare.io/post/34 :

POL Diversification and Deployment (Q1 2023)

This framework authorizes and mandates the HydraDX Council to diversify and/ or deploy up to 10.15M DAI of the HydraDX protocol owned liquidity (POL) during Q1 2023 as follows:

ETH

• Swap up to 2.2M DAI into ETH using an Ethereum-based DEX;
• Bridge the amount to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
• Deploy the amount into the Omnipool.

WBTC

• Swap up to 1.1M DAI into WBTC using an Ethereum-based DEX;
• Bridge the amount to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
• Deploy the amount into the Omnipool.

iBTC

• Explore mechanisms to swap up to 250k DAI into iBTC. The mechanism will be voted by the community prior to execution;
• Deploy the amount into the Omnipool.

USDC (native)

• Explore mechanisms to swap up to 2.2M DAI into native USDC. The mechanism will be voted by the community prior to execution;
• Deploy the amount into the Omnipool.

USDT (native)

• Explore mechanisms to swap up to 2.2M DAI into native USDT. The mechanism will be voted by the community prior to execution;
• Deploy the amount into the Omnipool.

DAI

• Bridge up to 2.2M DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
• Deploy the amount into the Omnipool.

Non-DAI POL

HDX

• Deploy up to $250k worth of HDX from the HydraDX Treasury into the Omnipool

The present framework has undergone a discussion on the governance forum of the HydraDX Protocol and has been approved in a general democratic vote by all holders of HDX.