The HydraDX New Deal is our appeal to all Hydraheads to join forces in our mission to build the liquidity infrastructure of the future. The New Deal introduces a generous reward scheme which is designed to incentivize community contributions. With the New Deal, we aim to blur the lines between the team and the community. The resulting synergy will eventually result in the birth of the Omnipool, the most advanced liquidity provider the world is about to see.
The New Deal allows us to issue HDX rewards from the Treasury for a wide variety of community contributions which are aligned with the goals of HydraDX. You can find more information on the process of submitting a Treasury tip request in this guide.
For more inspiration, we have outlined some of the most pressing areas where we welcome your involvement. The list is not exhaustive, so please feel free to reach out to us if you want to share your ideas.
Unless otherwise stated below, all contributions will be assessed individually based on their merit and relevance to the project in order to determine an appropriate reward.
1. Bug Bounties
Hacks in DeFi are not uncommon. Incentivized Snakenet is a time and place to make sure that HydraDX is bulletproof (we might as well have called it “Operation Bulletproof”). HydraDX becoming the heart that pumps liquidity through the financial system requires all of us to join efforts and battle-test it.
Hydraheads who find and report bugs will be rewarded from $100 up to $100k in HDX based on the severity of the bug and the stage of the project. The protocol will also undergo formal security audits, but please go ahead and start breaking things as soon as possible. In the coming weeks, we will be highlighting parts of the code that we would appreciate being looked at more thoroughly.
2. Protocol Improvements (Economic Design / Governance)
DeFi has become an alternative financial universe. Its evolutionary process has been squeezed from hundreds of years into just weeks or months. The wilderness that is DeFi is unpredictable, shattering hopes and foundational assumptions of many projects.
Sometimes, it could be harder to spot economic exploits than technical ones. HydraDX would welcome people to contribute in terms of the following:
- Analysis & research (dynamic trading fees, different token utilities etc.)
- Parameters tweaking (size of fees; Is burning of all tx fees and HDX trading fees the best option for protocol? How much to burn, how much to allocate for the Treasury, the stakers etc.?)
To make your life easier with the gargantuan tasks above we will open source a so-called “digital twin” of HydraDX implemented in cadCAD - Python libraries for complex testing of various economic & governance scenarios. We are inviting Hydraheads to form a decentralized research group, and we assure you that your contributions will not go unnoticed.
3. Technical Protocol Improvements
To make it easier for future Hydraheads, we need a rich set of tooling and integrations. We were able to think of the following:
- Mobile and hardware wallets (e.g. Trezor and Ledger)
- Infrastructure tooling (blockchain explorers, node, validator node monitoring)
- Trading dashboards & tools (trading bots, LP dashboards)
- General development
Technical contributions are only eligible for a Treasury reward under the conditions that they are open-sourced and actively presented to the wider HydraDX community to make sure that as many people as possible can benefit from the solution.
4. New Use Cases & Products
- New use cases such as Lending and Options
- Specifications or MVPs
- Interoperability use-cases
- Infrastructure or trading tools
5. Community Building & Management
While we believe in organic community building, we also welcome the involvement of community managers who would like to take up the task of expanding the local communities (quality over quantity) and finding more Hydraheads who want to get involved.
Becoming a community manager is based on merit. Any member who proves to be an active and constructive participant, willing to help others and spreading the word about HydraDX, can become one.
The base reward for community managers is the equivalent of $20 per hour, paid out in HDX.
6. Other Community Contributions
There are many other helpful tasks which will be rewarded with Treasury tips, including:
- Creating content (guides, translations, blogs, documentation)
- Helping spreading the word by producing educational material (explanative blogs, ELI5 animations, videos)
- Unfolding your creativity and creating stickers and memes (we will be rewarding the best ones)
Community contributions will be assessed individually by the community managers. The reward for eligible community contributions under this category is the equivalent of $20 per hour, paid out in HDX.