HYDRA Successfully Completes its Main Distribution Phase.
29 Mar 2022, 14:58
HYDRA Successfully Completes its Main Distribution Phase
Today we concluded the very last arrangements for the HYDRA distribution.
✅ Phased out the seed nodes
✅ Deployed Treasury pool
✅ The excess funds have been transferred to the DAO liquidity fund
The conclusion of the distribution is a major milestone as it marks the beginning of the next chapter.
Looking at what we've accomplished in just 1 year period, makes us very confident about the future.
HYDRA begins its race with a powerful arsenal of unique tools that make it packed with strong fundamentals.
These tools and features are the results of relentless strategic planning, engineering, execution, and community support.
What has been achieved so far
✅ Robust infrastructure - with nodes count capable of competing with Tier 1 Chains
✅ DAO project is already in the pipeline intended to unlock the control of key self-governance and community funding programs. Programs that will intend to strengthen engineering, marketing, liquidity, DeFi, and most importantly the independence of the network. With potential grant programs for strategic DeFi, SDK, and marketing projects, the goal is to unlock multi-team potential that transcends beyond the scope of the resources that we are utilizing at the moment
✅ $40M DAO Liquidity Fund Reserve - The DAO liquidity fund reaching 4,483,909 HYDRA equivalent to an excess of $40,000,000 in idle capital for onboarding liquidity and empowering the community DAO is a milestone on its own. What is important is the fund also acts as a powerful war chest. There is also a pending deployment of a protocol upgrade that would perpetually add inflationary income to the same pool. This makes HYDRA hard to compete in terms of planned capital for expansion, relative to its market cap of slightly less than $100M, this makes a relative 40% reserve capital for investing in various programs.
✅ DeFI Infrastructure and Peripheral Apps - we are consistent with the DeFI plan that is set to mature in 2022. By building the needed tools for what would be a comprehensive economic system
And a few things that we've just completed - Surprise!
✅ HYDRA Markets Liquidity Supercharge: Following our commitment to strengthen the network, we have been working on a master plan for exchanges and liquidity strengthening which comes as a supercharging component for the entire project. As a result, I am happy to announce to you that we have just finalized and deployed a 10x boost on HYDRA's liquidity. As of this moment, HYDRA is a top 40 asset according to instant liquidity on Kucoin, capable of competing with Tier 1 projects. This is a very important step because higher liquidity generally acts as a health metric for any project. An important metric evaluated by institutional and high-profile investors. Also a critical component of the evaluation process of Tier 1 exchanges (liquidity and volumes). Not to mention reducing volatility and improving the trading experience with lower slippage and narrower spreads. As of this moment, HYDRA has liquidity to market cap ratio that outperforms even most of the flagman instruments. What is important is the liquidity to market cap comes as a locked geometry and plays an invariable role in price dynamics when sustained effectively.
By locking it at a very healthy ratio, this marks a strong pathway for the future of the project.
✅ Single-Sided Liquidity DeFi Engineering Stage : coding has been completed, and initial functional tests from the engineering team have passed. We are now moving onward to the functional tests of our QA team together with the scaffolding and building of the web-app UI. Once the UI is deployed and assuming all QA checks are good, we will be engaging with security auditing companies for the final step of the development lifecycle which is related to the deployment of the beta. While the ETA for beta launch remains mid 2022, the important thing is the concept passed a critical validation point.