AMA Recap Crypto Library with HydraSwap


On 11th August 2021, HydraSwap conducted an AMA in the Crypto Library Community. Our guest is Victor and Tom. Lots of questions as usual from the Community about HydraSwap progress. The HydraSwap team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into HydraSwap.

Let’s take a look at the most interesting points of our conversation.

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Victor (HydraSwap) : Thanks. I'm Victor, core team member for Hydraswap. We have been building Hydraswap for the last 4 months. Personally, I'm a crypto-entrepreneur for the last 6 years and a crypto/DeFi maximalist. We are a strong team of fintech, tradiFi and blockchain builders.

Tom (HydraSwap) : I'm Tommy. Seasoned startup entrepreneur. I've built a dozen starups, most bombed, some still chasing the dream, and I'm lucky enough to have 2 that have been acquired. I've been in crypto since 2017. And of all my projcts, HydraSwap is without a doubt the most exciting protocol i've been apart of.
Crypto Library Team : What is Hydraswap? and how does it work?

Victor (HydraSwap) : Hydraswap is a cross-chain advance DEX on Solana. Imagine Uniswap v3 with aggregator and cross-chain capability on Solana. Our vision is to become a mega-app that provides a one stop solution for liquidity providers and traders for managing and trading assets cross-chain. Our edge will be creating a seamless cross-chain DeX, an advanced market making algorithm and a intuitive user interface that is going to greatly enhance the experience of traders & LPs. Imagine CeX UX on a decentralized exchange. We will be building our base DEX on Solana. With a TPS north of 50k and gas costs under 1c, we strongly believe that Solana is best placed for supporting a high frequency trading ecosystem. With HydraSwap we will bridge the fragmented liquidity on DeFi and coupled with Solana’s throughput we will enable DeFi to scale further unthrottled. 

Crypto Library Team : Could you give us some reason why we have to choose Hydraswap than other projects out there?

Victor (HydraSwap) : Absolutely. Great question! This are the main reasons: Superior Performance The average 50,000 TPS throughput and less than 0.5s processing speed powered by Solana allow us to deliver a CEX-level user experience. Low Gas Cost Almost 0 gas cost allows us to make complex interactions with smart contracts, such as the commission calculation for referral programs. This is impossible for those high-cost DEXs such as on Ethereum L1. Strong HMM Market Making Mechanism High asset utilization rate, low price slippage, dynamic, and multiple market-making strategies. This ensures that a LP retains all rights. New Generation IHO Mechanism Project teams can set up liquidity pools efficiently and effectively. The interests of both project teams and participants will be protected throughout the entire process of token issuance. Cross-chain Solution This allows us to trade, deposit, and withdraw assets between different public chains with no boundaries. The cross-chain interactions are empowered with HydraSwap’s superior performance. 

Crypto Library Team : Please tell us about $HYS token! What are the token use-case, distribution, and where we can buy it?

Victor (HydraSwap) : Here are some of the crucial components of HYS token:
  1. Staking
  2. Liquidity mining
  3. Profit share via token buyback
  4. Participation into Initial Hydra Offering (IHO)
So, long term HYS stakers get lots of advantages and benefits. Before i forget, HYS is not just a governance token but also boasts a plethora of utilities. With HYS, a user would be granted the following rights:
  1. Proposal and voting rights
  2. IDO and crowdfunding quota on HydraSwap
  3. Transaction fee discount
  4. Transaction fee dividends
  5. Governance rights

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Victor (HydraSwap) : We have an extensive roadmap in plan and are well on our way. Our Beta is out now. This thanks to our 10+ person dev team, cranking out awesome tech. You're right, we are building out features that are hot right now. And they are the foundation that allows us to build the next layer of operability. What we'll bring to Solana and DeFI is incredible optionality and usage by bridging chains. That's what's beautiful about cross-chain capabilities. And the DEX is the 1st part of that.
  • 2021 Q1: HydraSwap Project Started, Seed Funding

  • 2021 Q2: HydraSwap Alpha 0.2, Limit Order

  • 2021 Q3: HydraSwap Beta 1.0, HMM

  • 2021 Q4: Price Band, Cross-chain Bridge 1.0, Smart Aggregation

  • 2022 Q1: IHO, One-Stop Mining, DeFi Arbitrage, Referral Program, Cross-chain Bridge 2.0

  • 2022 Q2: HydraSwap 2.0, Lending, Margin Trading, Perpetual Swap
Crypto Library Team : How can this IHO solve problems like soeculator rush, & lack of liquidity usually seen with IDOs? Also, how can I qualify to participate in the IHO?

Victor (HydraSwap) : IHO: Crowd Funding + Liquidity Pool Setup. IHO will offer both users and project teams a more flexible investment solution. IDO (Initial Dex Offering): A way for new projects to initially supply its token to the public via a DEX. This has attracted the attention of projects and users alike. However, at present. IDOs continue to face several issues like speculator rush, lack of liquidity (2nd pool has to be built as a result), and more. In the IHO, we will:
- We will enable a direct liquidity pool setup following the IDO. This will make it easier for projects while providing price stability for investors.
- We will enable an auction module with high and low price bands. This will enable a fairer token launch price for the project based on the token demand and investor appetite.
- To mitigate risks for investors and to eliminate offerings from fraudulent projects, we plan on deploying our own innovative offering on HydraSwap dubbed IHO (Initial Hydra Offering).
Stay tune for more update. 

Crypto Library Team : In the roadmap, I saw something called One-Stop Mining. Can you explain what this type of tool is about? What are the advantages for users when trading Hydraswap after One-Stop Mining is implemented?

Tom (HydraSwap) : One-Stop Mining is a later stage feature. Briefly, it’s be based on the cross-chain infrastructure, users will be allowed to stake Solana-based assets to earn assets originally from other blockchain ecosystems. One-Stop Mining across blockchains.
Crypto Library Team : Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?

Victor (HydraSwap) : 
1. We are partnering directly with Solana. We are in the final stages of securing Solana ecosystem grant.
2. We are also in chat with FTX, OKEX and HUOBI ventures fund. Expect IEO with CeX. Wait for official announcements.
3. We will be partnering with Raydium and will launch IDO with them.

Crypto Library Team : NFT is getting more popular now a days. It looks NFT has bright future. So do you guies have any plan to include NFT to your project?

Victor (HydraSwap) : 
1. YES!! In our HMM module, there are a component that requires NFT.
2. We will include NFT as part of our protocol mechanism to get liquidity providers to be exclusive club holding exclusive Hydraswap NFT.

Crypto Library Team : HMM is HydraSwap's own algorithm, but one of the biggest improvements is the "Compensation Parameter". What is the HMM algorithm? What benefits does it offer? Why is it innovative?

Tom (HydraSwap) : What makes HYS's algorithm different from others. First thing first, our algo team has 20+ years of experience creating algos and trading on the biggest banks in TradFI. Our CEO ran a 5,000,000,000 trading book at JPMorgan right before starting HYS. So that should lend us a bit of starting credibility. The HMM algorithm is jumps ahead of your traditional AMM algo. With better pricing, less price slippage, better p&l profiling for LPs, an reduced impermanent loss. Much of that is due the compensation parameter. In short the compensation parameter is our CEO's brain child. It gives the better price between liquidity of the DEX itself and oracles, thereby reducing the gains of arbitragers for the benefit of LPs

Crypto Library Team : What is your token advantage that can convince me to change from my favorite token?

Victor (HydraSwap) : We intend to be the 100x project as we are aware of the competitors on Solana.
1. Staking
2. Liquidity mining
3. Profit share via token buyback
4. Participation into Initial Hydra Offering (IHO)

So, long term HYS stakers get lots of advantages and benefits. With HYS, a user would be granted the following benefits:
1. Proposal and voting rights
2. IDO and crowdfunding quota on HydraSwap
3. Transaction fee discount
4. Transaction fee dividends
5. Governance rights

Crypto Library Team : At the moment what is Hydraswap focus on improving or adding to its exchange?
1) Margin trading
2) Crowdsourced LP curve options
3) Unified User Interface
4) bridging CEX liquidity to DeFi
5) Marketing
6) different Layer1 branches -scaling on Solana

Tom (HydraSwap) : You can expect us to be the hottest DEX on Solana. You can hold me to my word.
We have the functions you mentioned planned in our roadmap. Beyond that, we expect future and options to be the next big leap in DEX offering. Lucky for us we have 40+ years of TradFi experience on the team to help us in this regard. But fundamental reason traders, LPs, investors will want to trade on HydraSwap is our HMM algorithm. It will be the best market making algorithm by far. We'll have tighter pricing, less slippage, aggregated pricing, and much more.