TLDR; IGL request $2.5M from POL stablecoins to fund development of Hydration for an additional 12 months.
If approved, this will leave ~$20M of non-HDX POL in the Treasury
Please read the full post 👉 https://hydration.substack.com/p/hydrating-the-funding-gap
And then discuss below!
How about getting some more eyes on Hydration and get listed on exchanges so that you can expand and onboard users outside of the Polkadot ecosystem ?
Hi guys, first of all, congrats for the job done so far. I really like the product you developed.
Do you have a report on how have been spent the previous $5M in 2 years ? At first sight, without knowing anything about the size and the location of the team, and how this amount was used, it could seem that burning $2.5M / year can be a lot.
Very happy to see this discussion as for those following I’m sure they have been wondering too where the next lot of funding comes from. The team has my full support and I would like to make a few observations:
In the true spirit of hydration, while the world has gone crazy with inflation these last years the ask stays the same. In my experience others would have used this to add at least another 10%. That being said I am hoping there is more funding coming from outside POL to help grow the team and pay you all more in the near future
Out of curiosity I have looked into the DAI raised vs current POL and it looks like $22,856,696 raised vs $22,331,467 POL(constantly changing, info from stats) which suggests the first ask of $5m has only cost POL $500k as of today (a red day at that too)
So yes please, get payed and keep up the outstanding management of the POL.
Edited
I only support the team's further work on the project, I can clearly see the results of the development over these two years and see no reason to NAY this request (this is far from the money this work is worth)
YES.
The token economy of web3 is a mechanism with enormous potential, and its proper use can bring tremendous power. I personally think this will gradually become the foundation of hydration.
Missionaries are crucial to us, and token economics is the mechanism for screening and uniting missionaries. I believe that at least the majority of people in IGL are missionaries. Of course, we also need to use mercenaries.
Mercenaries chase salaries, missionaries chase HDX, and incentives are compatible.
Just like traditional companies should be accountable to shareholders. Furthermore, hydration and HDX holders advance and retreat together.
People need to eat, and IGL missionaries should have a basic salary. But whether they can gain more wealth and honor should be determined by the price of HDX, as most of them should already have a large amount of HDX.
For hydration, for ourselves, skin in the game
YES ! It's rare to see money well spent in Polkadot Hydration is a clear example.
A bit sad there is no better option for this funding but I'll still support it because you are doing a great job and we need you to keep going with the same momentum, whatever the market conditions.
Lets see what people comment 🙌