Hydration, the Polkadot ecosystem DeFi project, announced that it has received 2 million DOT tokens (approximately 14.40 million USD) from the Polkadot treasury. The funds will be dedicated to enhancing the liquidity and transaction efficiency of Omnipool, Hydration's unilateral liquidity supply platform.
It is reported that 1 million DOTs will be spent in a year to attract new liquidity into the Polkadot ecosystem, and the initial rewards for liquidity providers (LPs) will exceed the 200% APY mark. Thanks to Hydration Omnopool's unilateral LP design, users will start to receive rewards after providing a single asset and joining the incentive farm, including native stablecoins, DOTs, BTC, and multiple ecosystem tokens.
In addition, the remaining 1 million DOTs will be injected directly into Hydration Omnipool itself, with the goal of supporting the creation of a robust, accessible native liquidity layer.
Polkadot grants $14.40 million to Hydration to boost DeFi
2024-06-10 13:16:05
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