Weekly news from Kusama&Polkadot #18
1. HydraDX won a parachain auction -> Omnipool heading into Polkadot network
HydraDX just won the 9th Parachain auction on Polkadot. By raising 2,46M DOT worth over $45M from 5 328 contributors, it's finally a pure DEX in the Polkadot network.
There are projects such as Acala, which is a DeFi hub for Polkadot that includes a decentralized exchange as well, but HydraDX is the first liquidity protocol by purpose. And not the ordinary one, don't think of just pure Uniswap copycat.
HydraDX brings a very innovative way of pooling tokens. Not two tokens will be in the pool like in Uniswap, not even eight like in Ballancer. All the tokens by which the liquidity will be provided will be pooled in one special pool. The Omnipool! So let's watch the steps of this amazing project closely and check out with us if it's the groundbreaking concept of pooling liquidity. We think it is!
HydraDX — the Uniswap killer?
We are pleased to introduce you to the HydraDX, a revolutionary cross-chain liquidity protocol that can become the next…
2. KICO secured parachain slot on Kusama by winning auction #25
KICO Chain is the canary network of the DICO Chain. By having its own parachain slot on Kusama, the functionalities of DICO can be tested on KICO.
DICO means DAO + ICO + Swap, so it's meant to be a parachain of decentralized and governable ICOs for Polkadot and Kusama. The function of token exchange for promoting faster development of Polkadot is just complementary.
The DICO chain will help the token price discovery (LBP=Liquidity Bootstrapping Pool). The ICO function will help projects fundraising allowing on-chain asset custody and DAO distribution.
3. Quartz is now live on Kusama
Quartz parachain is now live on Kusama. So you can now build customizable NFT marketplaces and enjoy flexible economic models. Quartz is also the first NFT parachain on Kusama. It's built by the Unique NFT chain development team, so you can expect Unique to compete for Polkadot´s parachain slot in the auction soon.
QTZ token is now tradable, it was listed on MEXC Global on the 8th of February in the QTZ/USDT pair.
4. Acala´s aUSD stablecoin is live
Acala has several BIG news including the one that their decentralized stablecoin aUSD is now live on Acala Network. Acala Dollar $aUSD will serve as the first stablecoin on Polkadot. You can now mint aUSD at apps.acala.network/vault by using your DOT or LCDOT as the first two accepted collateral assets. Check out this informative article about aUSD done by Dan Reecer.
Having own stablecoin is one of the first preconditions for functional DeFi services. Stablecoins, dollars (and other fiat currencies equivalents) are simply places for times of uncertainty and price volatility.
Acala has live also a one-way bridge, so users can now move their DOT tokens from Polkadot Relay Chain to the Acala Network and use them for liquidity mining incentives and other DeFi services.
According to the article by Robin Whitney, liquidity providers can now earn an Early Adopter NFT.
Also, consider supporting us by the nomination of your tokens to Kusama or Polkadot validator going by the POLKADOTTERS name.