HydraDX is an application-specific (para)chain introducing a novel take on a liquidity pool - the Omnipool, as a viable alternative to centralized counterparts. Our experiences with the current DeFi protocols and first principle thinking sparked a desire to solve common issues with liquidity in the crypto space, like capital efficiency, security, reliability of execution, UX, and transaction costs for users. We believe that the infrastructure for financial primitives has to be optimized for serving the specific subset of blockchain use cases rather than compete for limited resources with unlimited non-related (non-financial) applications.
Building things from the ground up is great for avoiding common pitfalls, but it’s also challenging, possibly creating new trade-offs and attack vectors.
Some of the research questions with which we are dealing
What is a “sound” monetary policy?
While HydraDX will be covered by shared security from Polkadot, we want to avoid overpaying. Simultaneously, the block producers need to be incentivized to produce new blocks ensuring liveness.
- What is the balanced inflation rate covering these incentives and maintaining ecosystem growth?
- Is the burning of all transaction fees (variations of EIP-1559) the best possible option for the protocol and its participants?
How to maintain incentives, compatibility & integrity?
- How to set up liquidity mining with a bias towards long-term liquidity commitments, without conflicting with other incentives?
- How do staking derivatives affect system security?
- Can immediate changes in supply caused by the Omnipool mechanics disrupt incentives in the protocol?
- What are the constraints that we should enforce on the network? (e.g. ratio of protocol-side HDX vs total supply from inflation)
- How malicious actors could cause losses for other participants or benefit from an “unfair” advantage?
- What other forms of “MEV” are plausible?
What you might find interesting about HydraDX
- We use a Nominated PoS consensus mechanism that can avoid the notorious rich getting richer issue in most of the traditional PoS networks.
- We strive to be a vertically integrated protocol, preserving values for its users rather than leaking them out of the system.
Requirements (not mandatory, but preferably)
- Matlab or data analytics in any language
- CadCad experience
- Monte Carlo simulations
- Statistical analysis
- Quick Learner
Fiat (DAI/USDC) + HDX in amounts depending on your time allocation (we prefer a full-time).
Breaking chains and math models. But srsly. Building bleeding-edge tech that becomes the liquidity protocol for the world.
If you want to push the current blockchain applications to the next level, believe that things can be improved, and believe that good user experiences drive adoption, we need to talk.
- strong product orientation
- strong customer orientation
- UX knowledge
- software development experience
- leading a team of front end engineers
- knowledge of blockchain applications
- you are skilled in graphical design
- you are familiar with best coding practices
Didn’t find anything? Do you like the project and want to help? Have a look at HydraDX discord and message us if you would like to help during the incentivized testnet. We always need extra pair of hands. We will consider every idea and reward meaningful contributions.