Join Our Mailing List
Friday September 29, 2023
Bitcoin (BTC) $26,983.23   Ethereum (ETH) $1,672.11
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Investment Management

Crypto investment fund KR1 continues to back cross-chain liquidity protocol HydraDX

HydraDX is a cross-chain liquidity protocol built on Substrate. It is a base layer for financial use-cases, currently - instant asset exchange...

Published by CryptoNinjas.net
02/23/2022
Crypto investment fund KR1 continues to back cross-chain liquidity protocol HydraDX

KR1, a blockchain and crypto-asset investment company, has now announced it has participated in the HydraDX (HDX) crowdloan and Polkadot (DOT) parachain auction. KR1 contributed a total of 350,000.00 DOT to the HydraDX crowdloan campaign, which successfully secured a parachain slot in the ongoing round of Polkadot parachain auctions.

HydraDX.io is a cross-chain liquidity protocol designed to enable frictionless liquidity for crypto assets across various chains. In contrast to most decentralized exchanges in production today, which rely on separate pools for separate assets, HydraDX’s solution enables deposits of ‘all’ assets into one shared liquidity pool, the ‘Omnipool’, unlocking unparalleled efficiencies.

The contributed DOT will be time-locked on the Polkadot blockchain for 96 weeks and will be returned to KR1 following the completion of the respective HydraDX parachain lease. Following the successful HydraDX parachain auction bid, KR1 is going to receive a to-be-determined amount of HydraDX tokens over a time period of 96 weeks in return for supporting the HydraDX crowdloan campaign.

This method of token distribution involves no direct investment of capital, instead, it is an indirect investment with the opportunity costs being the inaccessibility of the locked DOT funds as well as foregoing any staking yields on the contributed DOT for the time period.

In addition, KR1 will receive a total of 45,000,000 HDX tokens (and a yet-to-be-determined amount of Basilisk (BSX) tokens) in line with KR1’s previous backing of HydraDX’s seed funding round that was announced on December 22nd, 2020, and a much smaller, yet-to-be-determined amount of HDX tokens in line with the company’s contribution to Basilisk’s Kusama crowdloan campaign and parachain auction that was announced on September 22nd, 2021.

HDX is the native token of HydraDX. It will be used for governance, staking, and more.

“HydraDX winning a Polkadot parachain slot is the next big step for the project and a huge endorsement by the community of the protocol’s objective to bring all liquidity together in an ‘ocean of liquidity.’ We see HydraDX as the endgame of liquidity in a cross-chain world and we have a high conviction rate in the team’s ability to achieve this goal.”
– Keld van Schreven, Managing Director & Co-Founder of KR1

89
SHARES
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin

Related News

KR1 invests $4.4M in Shiden, a smart contract platform and dApp layer on Kusama

06/09/2021
KR1 invests $4.4M in Shiden, a smart contract platform and dApp layer on Kusama

KR1, a blockchain asset & crypto investment company, today announced it has participated in the Shiden crowd loan and upcoming Kusama (KSM) parachain auction. KR1 contributed a total of 10,000 KSM; equivalent to USD...

Read more

KR1 invests $200K in zero-knowledge proofs service Starks Network

03/17/2021
KR! invests $200 in Starks Network

KR1, a crypto & blockchain asset investment company, today announced its latest investment with the company investing a total of USD $200,000 in the Starks Network (STN) project. KR1 took part in Stark’s seed...

Read more

Crypto fund KR1 invests $200K into seed round for privacy layer service Automata Network

03/09/2021
Crypto fund KR1 invests $200K into seed round for privacy layer service Automata Network

KR1, a crypto/blockchain asset investment company, has announced that it invested a total of USD $200,000 into Automata Network’s seed funding round and will receive a yet-to-be-determined amount of Automata (ATA) tokens. Automata Network...

Read more

Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

03/04/2021
Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

KR1, a crypto & blockchain asset investment company, had announced that it has invested a total of USD $75,000 into Strange Loop Labs AG, doing business as LazyLedger Labs. The investment company took part...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
Zilliqa blockchain combines incubation programs as it announces new grant winners

Zilliqa blockchain combines incubation programs; announces new grant winners

12/03/2019
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy