This referendum, if approved, will authorise the upgrade of the HydraDX runtime to release `v19.0.0`.

This upgrade includes:

- Staking pallet 👀 **[An additional referendum will need to follow this upgrade to initialise staking!]**
- Bonds pallet 👀 👀
- LBP pallet 👀 👀 👀
- a bunch of smol fixes & tweaks

Full release notes can be found [here](https://github.com/galacticcouncil/HydraDX-node/releases/tag/v19.0.0)

Runtime upgrade release v19

This proposal, if approved, will:

- Place an on-chain remark linking to the tx sending 500,000 DAI through Wormhole: `https://blockscout.acala.network/tx/0x7e9e2c3b45e540511bf0f32320ffc82ca482255316fe5a72e2febc6b259c9ca5`
- Withdraw 500,000 DAI to the Treasury (from Acala Wormhole)
- Add 5.47 iBTC to Omnipool
- Create 500K DCA order from DAI to DOT
    - 2 block interval, 1% slippage limit, max 9 retries, 10.16 DAI per trade
 - Add 100,000 DOT to Omnipool

Add liquidity to Omnipool & initiate DOT DCA round 5

This proposal, if approved, will redstribute HDX crowdloan rewards for users who contributed via Bifrost.

Please see on-chain request approved through Bifrost governance [here](https://bifrost.subsquare.io/democracy/referenda/63)

Redistribute HDX crowdloan rewards (Bifrost)

This proposal, if approved will:

------

Add DAI (Moonbeam Wormhole) to the Omnipool with initial price of `0.04 LRNA` - given DAI price of `1 DAI` and LRNA price of `24.95 DAI`.

DAI (Moonbeam Wormhole) will be added with a 30% weight cap and the owner of the position will be the HydraDX Treasury.

------

Add WBTC (Moonbeam Wormhole) to the Omnipool with initial price of `1066.85 LRNA` - given WBTC price of `26,618 DAI` and LRNA price of `24.95 DAI`.

WBTC (Moonbeam Wormhole) will be added with a 20% weight cap and the owner of the position will be the HydraDX Treasury.

- HydraDX is proposing to add two new currencies to its Omnipool: DAI and WBTC.
- DAI will have an initial price of 0.04 LRNA and WBTC will have an initial price of 1066.85 LRNA.
- The owner of the DAI position will be the HydraDX Treasury and it will have a 30% weight cap.
- The owner of the WBTC position will also be the HydraDX Treasury and it will have a 20% weight cap.
- These proposals need to be approved before they can be added to the Omnipool.

Add WBTC & DAI to Omnipool

This proposal will:

Add BNC to the Omnipool with initial price of `0.00879 LRNA` - given BNC price of `0.2156 DAI` and LRNA price of `24.53 DAI`.

BNC will be added with a 5% weight cap and the owner of the position will be the Bifrost parachain Sibling account `7LCt6dFs6sraSg31uKfbRH7soQ66GRb3LAkGZJ1ie3369crq`.

------

Add WETH (Moonbeam Wormhole) to the Omnipool with initial price of `67.84 LRNA` - given WETH price of `1664 DAI` and LRNA price of `24.53 DAI`.

WETH (Moonbeam Wormhole) will be added with a 30% weight cap and the owner of the position will be the HydraDX Treasury.

- BNC will be added to the Omnipool with a starting price of 0.00879 LRNA.
- BNC will have a 5% weight cap and will be owned by the Bifrost parachain Sibling account 7LCt6dFs6sraSg31uKfbRH7soQ66GRb3LAkGZJ1ie3369crq.
- WETH (Moonbeam Wormhole) will also be added to the Omnipool with a starting price of 67.84 LRNA.
- WETH (Moonbeam Wormhole) will have a 30% weight cap and will be owned by the HydraDX Treasury.
- LRNA and DAI are used to determine the initial prices of BNC and WETH in the Omnipool.

Add BNC & WETH (Moonbeam Wormhole) to the Omnipool 

**This referendum is a re-submission of [Referendum #59](https://hydradx.subsquare.io/democracy/referendum/59) due to execution failing on badOrigin for the `RemarkWithEvent` extrinsic - there are minor changes to the amounts for the OTC orders due to market movements and a change to the premium from 0.5% to 0.3%**

This proposal follows [discussion #93](https://hydradx.subsquare.io/post/93) and, if approved, will:

- **remove the following LPs:**
    - **Liquidity position #1165** - 175.9611 shares of **WETH** *Wormhole (Acala)*
    - **Liquidity position #1166** - 280,343 shares of **DAI** *Wormhole (Acala)*
    - **Liquidity position #1769** - 11.2523 shares of **WBTC** *Wormhole (Acala)*
- **create the following OTC orders:**
    - Swap 175 WETH *Wormhole (Acala)* for 174.475 WETH *Wormhole (Moonbeam)* [0.3% premium]
    - Swap 295,000 DAI *Wormhole (Acala)* for 294,115 DAI *Wormhole (Moonbeam)* [0.3% premium]
    - Swap 10.25 WBTC *Wormhole (Acala)* for 10.21925 WBTC *Wormhole (Moonbeam)* [0.3% premium]
- **place the following on-chain remark:**
`Add DAI, WETH & WBTC from Moonbeam (Wormhole) as tradeable assets within the Omnipool & fast-track the respective addToken referenda`

- This is a proposal for a vote.
- It is a second attempt at a vote that failed before.
- The proposal wants to remove some LPs.
- It also wants to create some OTC orders.
- Lastly, it wants to add some assets to the Omnipool and fast-track some referenda.

Withdraw 3x LPs, create 3x OTC orders & add on-chain remark [RESUBMIT]

This proposal follows [discussion #93](https://hydradx.subsquare.io/post/93) and, if approved, will:

- **remove the following LPs:**
    - **Liquidity position #1165** - 175.9611 shares of **WETH** *Wormhole (Acala)*
    - **Liquidity position #1166** - 280,343 shares of **DAI** *Wormhole (Acala)*
    - **Liquidity position #1769** - 11.2523 shares of **WBTC** *Wormhole (Acala)*
- **create the following OTC orders:**
    - Swap 170 WETH *Wormhole (Acala)* for 169.15 WETH *Wormhole (Moonbeam)* [0.5% premium]
    - Swap 300,000 DAI *Wormhole (Acala)* for 298,500 DAI *Wormhole (Moonbeam)* [0.5% premium]
    - Swap 10 WBTC *Wormhole (Acala)* for 9.95 WBTC *Wormhole (Moonbeam)* [0.5% premium]
- **place the following on-chain remark:**
`Add DAI, WETH & WBTC from Moonbeam (Wormhole) as tradeable assets within the Omnipool & fast-track the respective addToken referenda`

Here is a summary of the SubSquare post:

- Some LPs will be removed
- Some OTC orders will be created
- Premiums will be added to the swaps
- A remark will be placed on-chain
- The proposal is related to adding tradeable assets within the Omnipool.

Withdraw 3x LPs, create 3x OTC orders & add on-chain remark

This proposal, if approved, will:
 
- Create 250K DCA order from DAI to HDX
    - 5 block interval, 1% slippage limit, max 9 retries, 7.63 DAI per trade

HDX DCA Round 4

This proposal, if approved, will:

- Place an on-chain remark linking to the tx sending 900,000 DAI through Wormhole: `https://blockscout.acala.network/tx/0x194b0a0ab8525358392a6b0e068c317926cfdb02778f14e736e60fdf8d67da2d `
- Withdraw 900,000 DAI to the Treasury (from Acala Wormhole)
- Add 5.01 iBTC to Omnipool
- Create 150K DCA order from DAI to iBTC **(final DCA for iBTC)**
    - 5 block interval, 1% slippage limit, max 9 retries, 8.27 DAI per trade
- Create 500K DCA order from DAI to DOT
    - 2 block interval, 1% slippage limit, max 9 retries, 10.16 DAI per trade

- Someone wants to move 900,000 DAI using a special link.
- They want to take the 900,000 DAI and put it in the Treasury.
- They want to add 5.01 iBTC to Omnipool.
- They want to make a 150K DCA order from DAI to iBTC.
- They want to make a 500K DCA order from DAI to DOT.

Add iBTC to Omnipool & initiate fourth round of Treasury DCA

This proposal, if approved, will upgrade the runtime of HydraDX to release v18.0.0 (runtime 170).

This includes:

- Dynamic fees
- XCM asset exchange
- XCM rate limiter
- ...

For full release notes, see https://github.com/galacticcouncil/HydraDX-node/releases/tag/v18.0.0

Runtime upgrade to v18.0.0

This referendum, if approved, will:

- Place an on-chain remark linking to the tx sending 900,000 DAI through Wormhole: `https://blockscout.acala.network/tx/0x344b0cbcb303c017755e9f28c56e8dadc41f760ea48ba0a18a07ea5681dd4e26 `
- Withdraw 900,000 DAI to the Treasury (from Acala Wormhole)
- Create 250K DCA order from DAI to HDX
    - 5 block interval, 1% slippage limit, max 9 retries, 7.63 DAI per trade
- Create 150K DCA order from DAI to iBTC
    - 5 block interval, 1% slippage limit, max 9 retries, 8.27 DAI per trade
- Create 500K DCA order from DAI to DOT
    - 2 block interval, 1% slippage limit, max 9 retries, 10.16 DAI per trade

- There is a vote happening about doing some things with a type of money called DAI.
- They want to move 900,000 DAI to a place called the Treasury.
- They want to use some of the DAI to buy other types of money like HDX, iBTC, and DOT.
- They will do this by making orders with specific rules like how much to trade and how many times to try.
- They hope this will help make the DAI worth more and help people who use it.

Initiate the third Treasury DCA orders

This referendum, if approved, will:

- Add 105,000 DOT (currently $590K) to the Omnipool from the Treasury
- Add 6.44 iBTC (currently $203K) to the Omnipool from the Treasury

These assets were accumulated through the ongoing [POL diversification via DCA approved through ref #43](https://hydradx.subsquare.io/democracy/referendum/43) - eventually the full accumulation of iBTC will be deployed to the Omnipool as liquidity, and $1M equivalent of DOT will be added as liquidity. To date $550K of DAI has been diversified into DOT.

- A referendum is being proposed.
- If it is approved, some assets will be added to the Omnipool from the Treasury.
- The assets are 105,000 DOT and 6.44 iBTC.
- These assets were collected through a process called POL diversification via DCA.
- The accumulated iBTC will be used as liquidity, and $1M equivalent of DOT will also be added as liquidity.

Add iBTC & DOT liquidity to Omnipool

Add CFG to the Omnipool with initial price of `0.01 LRNA` - given CFG price of `0.2689 DAI` and LRNA price of `26.55 DAI`.

CFG will be added with a 5% weight cap and the owner of the position will be the Centrifuge parachain Sibling account `7LCt6dFsJVukxnxpix9KcTkwu2kWQnXARsy6BuBHEL54NcS6`.

Add CFG to the Omnipool

This referendum, if approved, will:

- Create 250K DCA order from DAI to HDX
    - 5 block interval, 1% slippage limit, max 9 retries, 7.63 DAI per trade
- Create 150K DCA order from DAI to iBTC
    - 5 block interval, 1% slippage limit, max 9 retries, 8.27 DAI per trade
- Create 500K DCA order from DAI to DOT
    - 2 block interval, 1% slippage limit, max 9 retries, 10.16 DAI per trade

Initiate the second Treasury DCA orders

This referendum, if approved, will:

- Place an on-chain remark to signify this historic moment: `First HydraDX Treasury DCA orders for HDX, DOT & iBTC`
- Withdraw 1.05M DAI to the Treasury (from Acala Wormhole)
- Create 50K DCA order from DAI to HDX
    - 5 block interval, 1% slippage limit, max 9 retries, 7.63 DAI per trade
- Create 50K DCA order from DAI to iBTC
    - 5 block interval, 1% slippage limit, max 9 retries, 8.27 DAI per trade
- Create 50K DCA order from DAI to DOT
    - 2 block interval, 1% slippage limit, max 9 retries, 10.16 DAI per trade

- A referendum is being proposed for HydraDX Treasury DCA orders for HDX, DOT & iBTC.
- The referendum will signify a historic moment with an on-chain remark.
- 1.05M DAI will be withdrawn to the Treasury from Acala Wormhole.
- Three 50K DCA orders will be created from DAI to HDX, iBTC, and DOT respectively.
- Each DCA order has different block intervals, slippage limits, retries, and DAI per trade.

Initiate the first Treasury DCA orders

This proposal is to approve runtime upgrade code upgrade to the v17

Notable changes:
- DCA
- Omnipool trade size limit lowered
- Upgrade to the substrate v0.9.38

Complete release notes can be found here: https://github.com/galacticcouncil/HydraDX-node/releases/tag/v17.0.0

Upgrade runtime to release v17

This referendum, if approved, will **kick off HydraDX’s Liquidity Mining programme - "Hydrated Farms"** by:

- **Minting 20,000,000 HDX** - this will come from the HDX supply allocation of 1,795,662,772 HDX tokens for growth incentives *[[tokenomics](https://docs.hydradx.io/tokenomics)]*

- **Creating a HDX “Global Farm”** to distribute the 20M HDX over a ~3 month period to applicable “Yield Farms”

- **Creating a DOT “Yield Farm”** with 1x multiplier:

**Parameters:**

- Target additional DOT TVL of $2,222,222

- Loyalty multiplier starting at 1x and trending towards 2x throughout life of farms

- Subsequent target APR between 12.5% and 25% depending on how long LP has been in the farm (up to ~$2,222,222 TVL in the farm) - total APR scales down beyond this

- Rewards are distributed based on the price ratio of DOT to LRNA in the LP position at the time of deposit into the farm, and paid out in HDX using an oracle price conversion

HydraDX is planning to start a Liquidity Mining program called "Hydrated Farms" if a referendum is approved. 

They will create a HDX "Global Farm" and distribute 20M HDX over a ~3 month period to applicable "Yield Farms". 

They will also create a DOT "Yield Farm" with 1x multiplier and target additional DOT TVL of $2,222,222. 

The Loyalty multiplier will start at 1x and trend towards 2x throughout the life of farms. 

Rewards will be distributed based on the price ratio of DOT to LRNA in the LP position at the time of deposit into the farm, and paid out in HDX using an oracle price conversion.

Mint 20M HDX & launch Hydrated Farms with DOT LM

With initial price of 0.001634407565 LRNA, given price of LRNA is 25.6121 DAI and ASTR is 0.04186061 DAI 

2.22M ASTR will be added to Omnipool with 5% weight cap

Add ASTR to Omnipool

This referendum, if approved, will:

- Accept HRMP channel open request from Moonbeam
- Add the following on-chain remark: `Add GLMR as tradeable asset within the Omnipool & fast-track the respective addToken referendum`

Accept Moonbeam HRMP & on-chain remark

This proposal, if approved, will upgrade the runtime of HydraDX to release v16.3.1.

This includes a handful of fixes that weren't ready for v16.3.0

Full release notes can be found here: https://github.com/galacticcouncil/HydraDX-node/releases/tag/v16.3.1

Upgrade runtime to release v16.3.1

This referendum, if approved:

- **Authorizes upgrade of HydraDX to v16.3.0** which includes:
    - Add [Omnipool dynamic withdrawal fees](https://docs.hydradx.io/omnipool_security/#dynamic-withdrawal-fees)
    - Liquidity Mining Oracle integrations and some other fixes ahead of LM launch
    - Improvements to multi-asset fee payments
*Full release notes:  https://github.com/galacticcouncil/HydraDX-node/releases/tag/v16.3.0*
-  Increase HDX weight cap to 20%
-  **Add 20,000,000 HDX to the Omnipool from the Treasury**
-  Decrease HDX weight cap to 5%

-----

Once this upgrade has been enacted, the Technical Committee will have the green light to re-enable `addLiquidity` and LPing to the Omnipool will once again be possible.

- A referendum is being proposed for an upgrade to HydraDX.
- The upgrade will include new features and improvements to the platform.
- The HDX weight cap will be increased to 20% and then decreased to 5%.
- 20,000,000 HDX will be added to the Omnipool from the Treasury.
- Once the upgrade is done, LPing to the Omnipool will be possible again.

Authorize upgrade to v16.3.0 & add HDX liquidity to Omnipool

This referendum, if approved will:
- Accept HRMP channel open request from Bifrost
- Send HRMP channel open request to Bifrost
- Place on-chain remark: `Add vDOT and BNC as tradeable asset within the Omnipool & fast-track the respective addToken referendum`

Open HRMP channels w/ Bifrost & on-chain remark

**This referendum, if passed, will place the following on-chain remark:**
*https://gateway.pinata.cloud/ipfs/QmXxDgaDXCNs1Fk6X1n9EZNfgfA7Zz7GDqsUoYB6VKMcHF*

---

**The on-chain remark links to an externally stored .md file with the following content, which is the output from the recent governance discussion:** https://hydradx.subsquare.io/post/69

## POL Diversification and Deployment (Q2+ 2023)
This framework authorizes and mandates the HydraDX Council to diversify and/or deploy up to 4.8M DAI of the HydraDX protocol owned liquidity (POL) during and beyond Q2 2023 as follows:

### Buy 1,000,000 DAI worth of HDX

- Bridge 1,000,000 DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
- Initiate DCA (Dollar Cost Average) orders to gradually swap a total of 1,000,000 DAI for HDX in the Omnipool;
- Future use of the accumulated HDX to be discussed.

### Buy 3,330,000 DAI worth of DOT (incl. LSDs)

- Bridge 3,330,000 DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
- Initiate DCA (Dollar Cost Average) orders to gradually swap a total of 3,330,000 DAI for DOT in the Omnipool;
- Accumulated DOT to be split between the following use cases:
    - At least 1M DAI equivalent deployed to Omnipool as LP;
    - At least 1M DAI equivalent swapped for DOT LSDs (options to be explored) and to be deployed to the Omnipool as LP;
    - The remainder to be reserved for the next HydraDX parachain slot. Once the slot is secured, a discussion can decide how to utilize any remaining DOT.

### Buy 500,000 DAI worth of iBTC

- Bridge 500,000 DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
- Initiate DCA (Dollar Cost Average) orders to gradually swap a total of 500,000 DAI for iBTC in the Omnipool;
- Deploy the accumulated iBTC 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.



HydraDX is a protocol that allows people to trade cryptocurrencies. 
They want to diversify and/or deploy up to 4.8M DAI of the HydraDX protocol owned liquidity (POL) during and beyond Q2 2023. 
They plan to buy 1,000,000 DAI worth of HDX, 3,330,000 DAI worth of DOT (incl. LSDs), and 500,000 DAI worth of iBTC. 
They will gradually swap the DAI for HDX, DOT, and iBTC in the Omnipool. 
The accumulated HDX, DOT, and iBTC will be deployed into the Omnipool and used for different purposes.

POL Diversification and Deployment (Q2+ 2023)

This referendum, if approved, will:

- `forceTransfer` ~680,922 HDX from the Equilibrium crowdloan account to the HydraDX vesting pallet
- generate the correct vesting schedules for & distribute to the individual crowdloan contributors

On-chain remark placed on Equilibrium network with the same preimage hash can be found here: https://equilibrium.polkassembly.io/referendum/1

Redistribute Equilibrium HDX crowdloan rewards

This proposal, if approved, will place the following on-chain remark:

`The community of the HydraDX Protocol authorizes the HydraDX Council to conduct the following transfers using a part of the HydraDX Protocol Owned Liquidity which was accumulated during the HDX LBP event:`
`-- transfer 450,000 DAI to 0xA4a6B5f005cBd2eD38f49ac496d86d3528C7a1aa as a reward for the whitehat who helped the HydraDX Protocol identify a critical vulnerability in the Omnipool;`
`-- transfer 45,000 DAI to 0x2BC5fFc5De1a83a9e4cDDfA138bAEd516D70414b as a commission for the bug bounty platform Immunefi.`

These transactions are related to the Omnipool vulnerability which was disclosed to us, as described in the first [Security Update](https://hydradx.substack.com/p/security-update-1). The report was submitted under our [Immunefi bug bounty program](https://immunefi.com/bounty/hydradx/) which had previously been approved by HDX token holders and included in our agreed [spending framework](https://docs.hydradx.io/spending_fw#bug-bounties).

Under the above-mentioned framework, the whitehat hacker would be entitled to a bug bounty of $590,000 (10% of the Omnipool TVL), to be paid out in HDX. However, at the current valuation, this would amount to ~47% of the HDX treasury holdings. Against this background, the Galactic Council team negotiated with the whitehat a discounted payment in DAI (450,000 DAI).

The HydraDX Protocol would like to thank the whitehat for finding and disclosing this vulnerability in a timely manner which allowed the Protocol to continue its operations without any major disruptions.


- HydraDX Protocol found a critical vulnerability in the Omnipool.
- A whitehat hacker helped HydraDX Protocol identify the vulnerability.
- The hacker is entitled to a bug bounty of $590,000, but it's too much for the HydraDX treasury to pay.
- The Galactic Council team negotiated with the hacker to pay a discounted amount of 450,000 DAI.
- The HydraDX Protocol thanks the hacker for their help in identifying the vulnerability.

Democracy Referenda