Hi Guys,
It's Big & Big #alert About $DOT $14 Million !!!
Polkadot allocates over $14 million in DOT tokens to drive liquidity with Hydration
Hydration, a decentralized finance (DeFi) project within the Polkadot (DOT) ecosystem, has received 2 million DOT tokens, equivalent to $14.4 million, to enhance the liquidity and trading efficiency of its liquidity provisioning platform, Omnipool, according to the information disclosed to Finbold on June 10.
Strengthening Omnipool with native liquidity
The first million DOT will be distributed over a year to attract fresh liquidity to the Polkadot ecosystem, and Liquidity Providers (LPs) can expect initial rewards exceeding 200% APY.
Hydration’s single-sided LP system enables users to provide a single asset and join an incentives farm, with incentives available for various assets, including native stablecoins.
The remaining tokens will be allocated to the Hydration Omnipool to establish a robust and accessible layer of native liquidity, benefiting the broader Polkadot 2.0 ecosystem.
New capital complements the existing liquidity of over 690,000 DOT and 560,000 vDOT already present in the Hydration Omnipool.
Jakub Gregus, co-founder of Hydration, emphasized the significance of the new funding, stating:
“This generous allocation from the Polkadot treasury marks a pivotal moment for Hydration. With this welcome injection of liquidity, we are able to significantly deepen our liquidity, which is vital not just for our growth but also for the continued health of the entire Polkadot ecosystem.”
Decentralized, non-custodial management
The funding for the Hydration Omnipool will be managed in a decentralized and non-custodial manner, remaining under the control of the Polkadot Protocol and OpenGov.
