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Rift Finance
Jakub Gregus
Jakub Gregus
Co-founder @hydra_dxPartner @zeeprimecap In blockchain veritas.
HydraDX (HDX)
Jakub Gregus
Jakub Greguš is cofounder of HydraDX (HDX).
Team
The team prefers to be pseudonymous and is led by DFL-Erwin (Team Lead) and DFL- Zeke (Lead full stack developer).
Erwin has experience working with international banks in fields such as data science and gamification. He has previously collaborated with Zeke on 2 ventures related to AR/VR and machine learning, in partnership with companies like AWS, Nvidia and more.
Zeke is a software developer with over 10 years of experience as a full stack developer and blockchain engineer.
The rest of the team comprises experienced blockchain developers and game developers with over a decade worth of combined experience.
BasiliskBasilisk is a modular Automated Market Maker (AMM) chain that provides liquidity bootstrapping functionality for any new crypto asset.
It allows participants to choose from a variety of AMM models that govern price discovery. Basilisk's API design allows AMM models to be easily plugged in: from basic spot trading to derivatives-specific models like PERP or Siren Protocol
The first version of Basilisk will offer an advanced implementation of an LBP module, as well as other XYK pools with transaction matching transactions. In the next iteration, Basilisk will introduce other price discovery mechanisms (auctions and bonding curves), an AMM to exchange correlated assets (stablecoins or wrapped tokens), as well as transaction matching between AMMs.
January 28, 2022
HydraDX (HDX)
Liquidity is the key
HydraDX is built as a parachain – specialized blockchain in the Polkadot network. It is benefiting from shared security, speed and flexibility of the Substrate framework while remaining optimized for a single purpose: enabling fluid programmable value exchange.
HydraDX is a cross-chain liquidity protocol built on Substrate of the Polkadot ecosystem. In investors Web3 Foundation, Hypersphere Ventures, KR1,Tenzor, CMS, DFG.
Omnipool
HydraDX omnipool has two basic features - protocol and liquidity provider. The main idea is to have a basic asset (HDX), which is created and held by the protocol. This asset will represent 50% of the initial value of the liquidity fund. Another 50% of the initial value is provided by liquidity providers in various assets. The 1: 1 ratio is maintained algorithmically; with the addition or removal of assets, native tokens continue to be generated or burned accordingly.
HDX tokens remain in the pool until purchased by merchants. The HDX can be exchanged for other tokens inside the pool and can be freely traded outside the protocol.
In omnipool, different assets can be valued for each other because they are valued against the marketable underlying asset (HDX). This allows the HDX to act as a price oracle, which significantly reduces liquidity spread.
As you can see, this approach in itself solves the slippage, because we have one big pool here, so even large orders do not necessarily mean that the price will start to shift significantly.
Other interesting features of HydraDX
In addition to the unique omnipool solution, HydraDX adds a lot of other features that bring significant improvements over existing protocols - so here are a few.
Order book
Hydra will have an order book connected to the AMM pool via oracle - for both markert orders and limit orders, as well as browsing the entire order book for better trading decisions. In the future, it can also be scaled through off-chain workers.
Transaction fees
Transaction fees will be payable in any currency, not just HDX.
Dollar Cost Averaging
DCA is a technique that is especially recommended for beginning investors - do not try to catch the bottom, but regularly buy your favorite token, regardless of its current price. HydraDX automates this process, so it will be enough to hold a stable coin.