DEFI
10 Posts
Spreading DOTs across multiple ecosystems
Hyperbridge has put up a proposal in collaboration with Bifrost, to launch a Polkadot liquidity campaign across multiple chains outside of the Polkadot ecosystem. The targeted chains for the liquidity campaign includes Arbitrium, Base, BNB and Ethereum Mainnet. The requested amount is 795,000 DOT which will serve as incentives to liquidity providers, rewarded in vDOT. This proposal is geared at increasing the DOT liquidity and mindshare across multiple ecosystems which will in-turn funnel liquidity and users back to the Polkadot ecosystem.
It is idle? Put it to work
The over 5.2mill DOT earmarked by Ref1104 to be DCA'd into USDC and USDT still remains 3.7 million DOT on a schedule over 260 days before the completion of the swap on Hydration. There is a discussion to supply the 3.7 million DOT remaining to be DCA's into Hydrations money market as collateral to boost generate yield for the treasury and boost liquidity for borrowers. The DCA will continue even with the DOT still supplied on Hydration's money market.
Faster, safer and cheaper
Stellaswap has made some upgrades to it's swap system allowing for quicker, cheaper and safer swaps. Taking advantage of Moonbeam's batch precompile, Stella batches 3 transactions (revoke function inclusive) in one click which increases swap speed by 70%, cuts down gas by 20% and the revoke transaction ensures safety.
Hydration provides treasury update and the way forward.
The Hydration team has provided insights on the Hydration treasury. From the initial $22.4 million DAI accumulated as Protocol Owned Liquidity (POL) of which $5 million DAI was set out for protocol development, the current Hydration POL sits at $24.5 million, spread across different assets. Hydration is proposing depositing 17.47 WBTC into the Hydration money market for possible use as collateral for their stablecoin, HOLLAR. POL DOT in the omnipool will be withdrawn and 50% of DOT will be deposited in the Hydration money market with the other 50% staked. 0.52 WBTC and 8,267.43 H2O will be swapped into HDX to be distributed to HDX stakers. 309.16 MRL ETH will be converted to ETH from Snowfork and deposited in the Omnipool. Hydration will also enable some yield DCA strategies using unallocated DAI.
DeFiSnowbridge ETH??
There is a new proposal on Hydration to exchange unused and treasury owndd 309.15 wETH which is currently from Moonbeam Wormhole (MRL) to Snowbridge wETH. If this proposal passes, another will be set to list Snowbridge wETH in the Omnipool. This will provide wETH liquidity from the trustless Snowbridge on Polkadot.
vASTR is about to get Hydrated.
Bifrost has submitted a proposal on Hydration to register vASTR in the Omnipool. The Astar foundation is providing initial liquidity of $100,000 in ASTR to be minted into vASTR and then transferred to the Omnipool. Bifrost will thereafter implement a liquidity incentive in BNC, from the Bifrost treasury.
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