Hydra Bridge Goes LIVE . HYDRA becomes interoperable with Ethereum through a key infrastructure cross-chain bridge.
12 Apr 2022, 16:00
Hydra Bridge Goes LIVE !
HYDRA becomes interoperable with Ethereum through a key infrastructure cross-chain bridge.
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✅ 4 Security Audits Completed
✅ DAI, WBTC and ETH already entered the ecosystem with 3 new DEX Pairs
✅ $1.5M Liquidity Mining Trial Campaign!
✅ Less than 20 other projects in the world with cross-chain Bridge Technology
The first mainnet cross-chain swaps have been confirmed!
You can now access the application through the link below (Desktop only for now):👉
For the first time in the history of Hydra, external assets will be available for native trading and usage within the ecosystem. So far the on-chain activity was mostly limited to HYDRA, LOC & GOMT (excluding few smaller projects among the community).
This will now change, as virtually any token available on Ethereum will be able to move to Hydra with the ease of a few clicks.
This sets an important fundament for various planned DeFi features coming to Hydra chain. A perfect example is the "leveraged staking" feature currently in development by ChangeX, which is holding an ICO as we speak ($2.4M cap was oversubsribed in the first month).
The development of vital components such as a decentralized lending protocol is only one of many applications that are now possible, thanks to the bridge.
BTC, ETH & DAI are now on Hydra Chain!
The first assets bridged over from Ethereum to Hydra chain are Bitcoin, Ethereum and the DAI stablecoin. Anyone can select them in the bridge interface and move their funds over as they wish.
ETH Contract= ab9e970de9ba9ec2c64a7f7f911da44b750ecf6a (Decimals 18)
DAI Contract= abc2cd00700e06922bcf30fe0ad648507113cc56 (Decimals 18)
WBTC Contract = 27a459ac47204f1e7fc5c48ffeafa990af244e13 (Decimals 8)
Three new Listings on the Hydra DEX!
As soon as the new assets arrived, they were immediately put to good use. Our team deployed the liquidity pools for :
HYDRA/BTC, HYDRA/ETH and HYDRA/DAI
A Pivotal Liquidity Mining Campaign Launches with 15,000 HYDRA Monthly Budget ($1.5M Trial Fund relative to current HYDRA price)
Now that the bridge is live, it is time to launch the first trial phase of the Liquidity Mining campaigns - the tentative start day is April 18!
The LM campaign will consist of a total reward pool at the size of 15,000 HYDRA per month. When measured against the massive DAO fund reserve (https://explorer.hydrachain.org/address/HSgusTFKSRphA9nmqeFrWESGCkDiQY9tb6), this translates to just 0.33% of the total fund.
A clear sign of the potent economics of HYDRA that comes as a result of the active community governance that voted to store the excess of the distribution phase for the community DAO fund.
The trial budget will be split equally among the three newly launched pools (BTC, ETH & DAI). Snapshots will be taken at random times, on average once every 3 days. Your share of the LM rewards will be calculated based on the share of the pool tokens you own (named HYD).
HYDRA once again challenges the top performers
List of other known projects with operating bridges and their market caps
Ethereum $364 Billion
BSC $69 Billion
Solana $34 Billion
Terra $29.70 Billion
Avalanche $20 Billion
Near $10 Billion
Polygon $9.70 Billion
Ronin / Axie $3.60 Billion
Fantom $2.93 Billion
Tezos $2.70 Billion
Harmony $1.42 Billion
Huobi $1.40 Billion
Celo $1.38 Billion
Oasis $0.80 Billion
HYDRA $0.1 Billion
Average market cap across non-ethereum bridge projects sample is $15 Billion, which makes HYDRA 150 times less inflated relative to market cap