Polkadot awards $14.4 million to Hydration to boost DeFi

06/11 05:43

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Polkadot ecosystem DeFi project Hydration announced that it has received 2 million DOT tokens (approximately $14.4 million) from the Polkadot treasury. This funding will be specifically used to enhance the liquidity and trading efficiency of the Hydration unilateral liquidity supply platform Omnipool.

It is reported that 1 million DOT will be spent within a year to attract new liquidity into the Polkadot ecosystem, and the initial reward for liquidity providers (LP) will exceed 200% APY. Thanks to the unilateral LP design of Hydration Omnipool, users will start receiving rewards after providing a single asset and joining the incentive farm, and the incentive assets include native stablecoins, DOT, BTC, and various ecosystem tokens.

In addition, the remaining 1 million DOT will be directly injected into Hydration Omnipool itself, with the goal of supporting the creation of a strong and accessible native liquidity layer.

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