I just bought 10,000 USD of HDX!
I'm no longer neutral & only hold DOT.
Why? I have been saying this more and more in interviews recently: @hydration_net is THE DeFi killer app of Polkadot.
So I put my money where my mouth is.
3 reasons:
- product
- founders
- vision
👇🧵
Product
In 2022, we made fun of the team because they were "3 weeks" to the launch for months and months!
Since then, a lot has changed: They shipped the Omnipool, money markets, DCA, bring your own gas, OTCs, bonds, referrals, token launch pad, MEV-minimized liquidations...
Founders
I met Jakub and Jakub a few times, but this year in Hong Kong was the most memorable for me.
It was during a Polkadot side event, when we sneaked out to a room on the side to have some introvert time
@JakPanik was between calls managing the Hydration team and helping the @brave browser team figure out how to build their wallet integration for Polkadot.
I had a chat with @GregusJakub and I understood that he really deeply cares about giving people to tools to take their finances into their own hands.
Hard to talk about this conversation without getting into the details, but I was just really moved by how much he cares about that.
Vision
Hydration is in a great spot
- bridged to relevant chains
- liquidity growing
- custom chain + governance allows so many optimizations for capital efficiency, it's crazy!
- trifecta of spot markets, money markets, and stablecoins almost complete
- looking forward to the HOLLAR launch, strategies, cross-chain intents...
Tokenomics
Looking good:
- capped, deflationary supply, fully vested and distributed
- revenue from trading fees, borrowing fees, liquidation penalties, stablecoin fees
- Protocol-owned liquidity generates additional LP revenue (+ stabilizes liquidity)
- protocol does buybacks from revenue
Imo chart looks solid right now (especially if you compare it with many other tokens). As a DOT holder I am used to much worse 😅 Looks like a good setup (also considering 24% staking APR), rising support @ 55m MC
Yeah my buy bumped the price by 3% ^^
5.02K
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