HydraDX is preparing to bid on a second parachain slot on Polkadot.

They agreed to diversify up to 1M DAI into DOT in preparation for bidding on a second parachain slot.

Currently, slots are generally going for less than 70,000 DOT.

They plan to create a pure proxy on Polkadot and assign a 2/6 multisig of the HydraDX council members to bid on upcoming auctions.

The multisig would be able to bid on upcoming auctions from those DOT without having any capability to move the funds.

Parachain slot renewal

- A person spoke at a cryptocurrency event in Brazil about a blockchain network called Polkadot.
- They gave away 16 T-shirts with a different blockchain network called HydraDx on them.
- The event had about 50 people, and some of them joined the HydraDxBrasil Telegram group later.
- The person also talked about HydraDx Brasil and its developments during the event.
- They are requesting tips to cover the cost of the T-shirts, which is $131.60 USD or 29802.88 HDX.

tips for t-shirts - Event in Curitiba City

HydraDX is withdrawing assets and swapping them for new ones. They are launching a Stablepools feature and allocating 2-2.1M DAI as Omnipool liquidity. They want to reduce their "bridge risk" and provide a low-slippage decentralized stablecoins onboarding route. They propose diversifying 2M DAI allocated as Omnipool liquidity into a 4pool Stablepool and depositing the asset shares into the Omnipool. This will allow HydraDX to operate as an onboarding route for DAI/USDT/USDC liquidity from Ethereum to Polkadot native stablecoins, with minimal price impact. They will maintain stablecoin liquidity in the Omnipool and reduce reliance on bridged versions of stablecoins.

Diversification of MRL DAI

1. The writer proposes a new strategy for staking rewards on the HydraDX platform.
2. The new strategy involves several phases, including an initial period without subsidies, a gradual increase in rewards, a high-yield period, and a controlled tapering off.
3. The writer cites psychological studies in marketing to support the proposed strategy, emphasizing the importance of aligning user expectations with actual outcomes.
4. The proposed strategy aims to foster a more genuine and sustainable user base on the platform.
5. The writer invites feedback and engagement from the HydraDX community on the proposed strategy.

staking rewards

- A person helped create a community for HydraDX/Basilisk in China.
- They translated official announcements and answered community members' questions.
- They organized a monthly text AMA and a team of volunteers for translation/proofreading.
- They were paid a basic salary of 132042HDX for 44.3 hours of work and 8942HDX for translation and video production.
- They also published one article and it took 3 hours to translate.

[Tip Request] Chinese Community Manager

- On August 8th, 2023, the author made two transactions using the Nova wallet.
- The second transaction involved using the cross-chain HydraDX-ASTR feature on the app.
- The first transaction was sent in error directly to the HydraDX parachain account.
- The author provides their ASTR and HydraDX addresses and a link to the transaction on Subscan.
- The author has provided screenshots of correspondence with members of Team HydraDX and Nova Wallet to confirm the authenticity of their claim and requests the return of their funds.

Send back the funds that were mistakenly sent to the parchain wallet to the stupid user who did it...

- Someone spent 6 hours translating newsletters about HydraDX for a community in Slovakia and the Czech Republic.
- They translated 3 newsletters and shared them on social media platforms like Facebook, Twitter, and Discord.
- They also spent time chatting with the community and being active on social media for 1.5 hours.
- They are requesting a tip of 18,598 HDX, which is worth about $20 USD.
- This contribution was made in June, July, and August of 2023.

[Tip request] Slovak translations for CZ/SK community

HydraDX is a project that has a community manager who helps people understand and use it.
The community manager creates videos, answers questions, and shares important information with the community.
They also encourage people to participate in making decisions about HydraDX.
The community manager deals with any false information about HydraDX and promotes educational content.
They work about 15 hours per week and are requesting 320,000 HDX for their 2 months of work.

[Tip request] JOHNM Community Manager + Content creation July-August

- A group of people worked hard for five months but didn't achieve anything.
- They feel disappointed and let down by the community.
- They will not be translating any content from next month.
- They thanked some people named Jose Crypto, lolmcshizz, and YUNG BEEF 4.2.
- The post ends with a sad note.

Update on Persian and Urdu Translation Articles 

- The person has two blogs, one for Persian and one for Urdu community.
- They have spent over 125 hours translating articles for these blogs.
- They have translated 20 articles in Persian and 5 articles in Urdu.
- They have previously translated a book called Polkadot for Beginners.
- They are requesting a tip of 352,390 HDX (which is equivalent to 20 USD) for their translation work.

Tip Request for Urdu and Persian Articles 

- The proposal is about a platform called HydraDX and the need for people to participate in its governance.
- There is a risk of losing money if proposals are not monitored carefully.
- The proposal suggests investing $10,000 in Bifrost tokens over 14 days and delegating to Chaos DAO.
- Chaos DAO will receive a stipend of $2,000 for monitoring and bot development.
- These actions will help protect the platform's liquidity and prevent financial loss.

Don't get Rekt - Protecting HydraDX interests across the polkadot ecosystem

HydraDX is launching staking soon and the proposal is to subsidize staking rewards for the first year. 
Stakers receive rewards every day from a reward pot which is filled by HDX trading fees. 
Initially, these trading fees are expected to be low due to low volumes. 
HydraDX Treasury is accumulating HDX through DCA from POL DAI. 
22,222,222 HDX could be distributed evenly over 365 periods to the reward pot to reward early supporters.

Subsidise HDX staking for 1 year

Here's a summary of the post in 5 bullet points:

- The writer wants to explore additional liquidity routes for the Omnipool.
- They propose to remove three liquidity positions from Acala (Wormhole) and replace them with Moonbeam (Wormhole) equivalents.
- This will open up liquidity flows from the Moonbeam ecosystem, which has higher ERC-20 volumes than the Acala ecosystem.
- The proposed plan is up for discussion before any action is taken.
- This could be a good opportunity to onboard more users and make things more efficient.

Remove part of DAI, WBTC & WETH POL from Omnipool for Moonbeam Wormhole

- A person helped create a community for HydraDX/Basilisk in China.
- They translated official announcements and answered questions from community members.
- They organized and hosted a monthly text AMA.
- They translated 6 articles and created Chinese voice and subtitles for a promotional video.
- They also published 2 articles.

[Tips Request] Chinese Community Manager - July

OnFinality is a company that helps people set up blockchain infrastructure for their dApps. They manage all the nodes for their users and distribute them across the world to achieve global scalability from day 1. They have made a large number of improvements to their Ultimate API service, focusing on performance/reliability, providing more value from their Ultimate API service, and cost optimization. They have launched Trace API, allowing unprecedented visibility for dApp builders. They have added support for a number of new networks, including Anmol, HydraDX, Equilibrium, as well as Osmosis, Evmos, Harmony, Arbitrum, Optimism, Fuse, DFK Chain, Celo, and Klaytn from outside the ecosystem. They have been running their high-performance infrastructure for the HydraDX community since December 2022, and this proposal only requests reimbursement for combined running costs of their infrastructure for HydraDX in Q2 (April, May, June) 2023.

OnFinality High Performance Public Infrastructure (Q2, 2023)

- Someone spent 50 hours working on a project related to CZ/SK Hydra community.
- They translated 2 newsletters to Slovak language and distributed them in Facebook groups.
- They also did community work such as chatting and being active on social media platforms for 4 hours.
- They spent 42 hours updating and adding Hydra docs in Slovak language.
- They are requesting a tip of 140,785 HDX (which is equivalent to 20 USD) for their work.

1. A person is creating a Chinese community for HydraDX/Basilisk.
2. They will communicate with the community through WeChat and Telegram.
3. They will translate official announcements and answer community questions.
4. They will organize monthly text AMA and complete translation/proofreading tasks.
5. They will receive a basic salary and have published one article on China's self-media platform.

[Tips Request] Chinese Community Manager – June

Tip treasury - Jose Crypto- (April-June)

[Tips Request] English to Chinese translation

- HydraDX community approved diversification of 4.8M DAI into HDX, DOT, and iBTC using DCA pallet.
- A proposed schedule for execution of DCA strategy is being discussed.
- The proposal suggests buying 1,000,000 DAI worth of HDX, 3,330,000 DAI worth of DOT, and 500,000 DAI worth of iBTC.
- The proposal includes executing trades every few seconds or minutes over a period of 6-13 weeks.
- The proposal includes an initial schedule to gauge performance and make adjustments if needed.

Proposed DCA schedule for Treasury Q2+ diversification strategy

- A community for HydraDX/Basilisk is being created in China.
- The community managers will translate official announcements and answer questions from members.
- There will be a monthly Q&A session and a team of volunteers will help with translation and proofreading.
- The community manager will be paid a basic salary for 44.3 hours of work per month.
- One article was proofread and one article was published on Chinese self-media platforms.

[Tips Request] Chinese Community Manager – May

HydraDX is a project that aims to strengthen governance protection by creating NFTs to identify and distinguish early adopters from the rest of the community. The NFTs will have various features such as increased APR for liquidity mining, the right to veto in governance voting, priority rights, and more. The team benefits from this initiative as they get a stronger community without incurring significant costs. LBP participants who keep these NFTs will increase the value of their presence and participation in the HydraDX project. Those who did not participate in LBP will be able to buy HDX and OG-status with a strong desire. The NFTs will be created on the EVM network using the ERC RMRK standards. The proposal suggests implementing a gradation level of NFTs, with the level dependent on the number of $HDX transferred over the ETH>HydraDX bridge.

Special NFTs for HydraDX LBP OGs

HydraDX is a community that has a community manager who helps people with their questions and concerns. They also translate official announcements and important information for the community. The manager encourages people to participate in governance and announces updates related to HydraDX on social media. They also deal with false information and rumors about HydraDX. The manager spends around 10 hours per week on community moderation and 1.5 hours per translated article. They are requesting 233,122 HDX for their work.

[Tip request] JOHNM Community Manager April-May + Translation

- HydraDX Treasury has a lot of HDX worth $1.5M.
- Adding liquidity has been paused, but there is still room for more HDX in the Omnipool.
- To prevent too many people from adding HDX to the Omnipool, they want to keep a small buffer above the 5% weight cap.
- They propose adding another $400K worth of HDX from the Treasury to the Omnipool in stages.
- They will add about 30M HDX from the Treasury to the Omnipool when they re-enable adding liquidity.

Discussions