Cosmos Hub has submitted a governance proposal to launch Hydro, a cross-chain auction platform for liquidity exports. Hydro is committed to improving liquidity management and invites projects to bid to deploy liquidity owned by the protocol, which benefits all ATOM holders. 🌐
The proposal involves transferring 1 million ATOM from the Cosmos Hub community pool to the Hydro committee. Half of the funds will go towards creating a liquid ATOM pool, and the other half will go towards liquid staking with Stride to create a stATOM pool. 💧
If Hydro performs well, additional transfers and tokens may be offered. Otherwise, the funds will return to the community pool.