DFG Contributes 150,000 $DOT to the HydraDX Crowdloan
With the second batch of Polkadot Parachain Auctions underway, DFG has decided to deploy its held $DOT as a way to fuel a member of its Polkadot Ecosystem Fund’s endeavor to conquer one of the six slots available in this parachain auctions’ batch. In the recently closed batch #1 of the auctions, Acala and Astar, which DFG has invested in and supported during their crowdloans, have successfully won the first and third slots respectively. Additionally Efinity and Composable Finance, also members of the DFG family and supported during their respective crowdloan efforts, won slots #6 and #7 respectively.
By allocating 150,000 $DOT to the HydraDX crowdloans, DFG reaffirms its commitment to support as many Polkadot partners as possible in order to achieve a parachain slot and continue working towards making blockchain and Web3 a fully adopted technological advancement.
HydraDX is a cross-chain liquidity protocol focused on providing users a decentralized platform enabling frictionless liquidity for all crypto assets. HydraDX breaks with the traditional conception according to which assets are traded in pairs using isolated pools.
DFG Founder and CEO, James Wo shared why DFG is a staunch supporter of HydraDX.
“HydraDX is bringing the future to DeFi by solving an issue that has been at the root of any discussion for a long time. Liquidity pools. They plan to turn DeFi from an archipelago, where all liquidity pools are independent and not connected to others, to an ocean, where all will be interconnected and interact seamlessly. This is the reason we are so excited to see them achieve a parachain slot during this ongoing batch and are keen to let everyone know that we support them.”