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The HydraDX crowdloan for the Polkadot parachain auctions is now live! You can support HydraDX by participating in our crowdloan campaign and pledging some amount of DOT tokens which will be locked up for the duration of the parachain slot.
In return, you will be granted HDX rewards which cover your opportunity costs. Once the parachain slot has expired, you will receive your DOT tokens back in full. The same applies to the scenario that HydraDX does not manage to win a parachain slot within the crowdloan campaign deadline stated hereunder.
- Visit: https://loan.hydradx.io/
- Crowdloan start: 28 December 2021
- Bidding on slots: #6 - #11
- Onboarding of winning parachains: 11 March 2022
- End of leased parachain slots: 12 January 2024
- Crowdloan cap: 8,000,000 DOT
- Rewards: between 280 and 12.5 HDX per contributed DOT
- Rewards cap: max. 1,000,000,000 HDX (10% of total supply)
- Vesting period: HDX rewards are distributed linearly. The distribution will start after HydraDX has been onboarded as a Polkadot parachain and the transition from Snakenet (our testnet) has been completed.
- Crowdloan campaign deadline: 12 March 2022
All participants in the HydraDX crowdloan will receive HDX in exchange for their contributions. The amount of the rewards depends on our rank in the parachain auction race at the time of your contribution, as well as the total amount of DOT which have been contributed by others.
Contributions made before HydraDX is leading the race by 15% will receive the highest amount of rewards - between 280 and 125 HDX per contributed DOT.
After we have secured a comfortable lead, the rewards will start dropping linearly. They will be at their lowest level once HydraDX has a lead of 25% or more. Contributions made during the time that we are leading by more than 25% will receive between 28 and 12.5 HDX per contributed DOT.
The rewards system is designed to offset the opportunity costs of locking your DOT for the duration of the parachain lease, as opposed to staking it. Contributions made before we have gained a 15% lead will get their full opportunity costs reimbursed. The price of HDX used for the calculation is $ 0.026. This number is based on the closing HDX LBP price of $ 0.08 (February 2021), after taking into account the upcoming tripling of all balances which were built up during our testnet.