HIP-6 | LYDRA/HYDRA DEX Pool Launch Strategy

:small_orange_diamond: Hydra Improvement Proposal 6 (HIP-6) is scheduled for a vote! :small_orange_diamond:

Snapshot Time for the Vote:

First block after July 6, 12:00 UTC time.

Voting Period:

Voting starts: July 6, 12:00 UTC time
Voting ends: July 13, 12:00 UTC time

Voting Addresses:

YES → HHxxxxYEAxPN6xxxxxxxxxxxxxxy1gSdQe
NO → HHxxxxNAYxPN6xxxxxxxxxxxxxxxyFgqHH

Threshold for Approval:

65% approval rate

Summary of Proposal:

  • Deploying a LYDRA/HYDRA pool with the starting ratio of 0.3
  • Seeding the pool with 1M LYDRA + 173k HYDRA from the DAO Treasury, ensuring no inflationary impact for HYDRA happens and facilitating an attractive launch event for LYDRA
  • Using a V3 DEX pool that would allow for the 3 strategic liquidity zones outlined above
  • The pool to be deployed with a 1% fee setting, in order to reduce the circulating supply over time and to further stimulate LPs to deploy both their HYDRA and LYDRA into the pool

Link to the Full Proposal:

Voting Procedure:

0.1 HYDRA sent to any of the two addresses above will credit your entire snapshot weight to the respective side. Note that the last transaction counts, meaning that you can change your vote within the voting period. Transactions above or below 0.1 HYDRA will not count.

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