HydraDX FAQ
The official FAQ has been released: https://hydradx.substack.com/p/hydradx-faq
All of the content is taken from dev & team responses on telegram and discord channels. It’s not official so it is wise to double-check.
HDX token distribution
When seed?
The seed round was closed in November 2020. There is no market price for HDX yet as it will be discovered in the LBP. Investors did not buy into the token but % of the company that has a right to 15% of the network
When ICO?
No ICO
When listing?
We will not actively seek exchange listings. Most probably the exchanges will not list new Substrate based coins before parachain auctions. But any exchange can list HDX.
Where to buy HDX?
5% of the total supply of HDX token will be distributed in LBP. LBP Price Discovery
When LBP starts?
8.2.2021 4pm GMT
How to buy HDX?
HydraDX — Balancer LBP “step-by-step” tutorial
Where can I buy it?
Balancer Exchange Link: https://balancer.exchange/#/swap/0x6b175474e89094c44da98b954eedeac495271d0f/0x6FCb6408499a7c0f242E32D77EB51fFa1dD28a7E
Where can I see the price chart for LBP?
Token specifics
What is the total supply?
10 billion
What are the tokenomics?
The tokenomics is in an advanced stage of being formalized. Given that HDX has some unique properties the team along with our partners at Blockscience are making sure that every detail is covered and every edge-case scenario covered.
Note, that the whole project is very long-term oriented so one can expect that the parameters will be aligned with such ambitions. We expect the details to be fully formalized and revealed in the next couple of weeks.
The basics that we already know:
15% Founders, Investors & Advisors
5% LBP
5% Incentivized Stakenet (bounties, staking rewards, etc. during Stakenet)
75% liquidity provision and staking rewards
Investors are vested for 18 months, team for 24 months w 6m cliff (with gradual unlocking)
Validators & Nodes
How much tokens I should buy at balancer for testnet?
100 is a safe bet to pay for transaction costs to say hello, I’m going to validate. If you want to stake or nominate and receive significant staking rewards you will probably want more than that as 100 is a very small amount.
How many tokens should I have to be selected validator?
Our validators are starting with 100 tokens but it will depend on how many validators will there be. Most will get in in the beginning. As more join, the ones with more stake (nominated and staked) will win the spot in the validator set. It will also depend on the commission fee you select (how many nominations you will get)
When testnet starts?
One or two weeks after LBP.
What is the recommended hardware for running a node?
Intel Core i7–7700K CPU with 64GB of RAM and an NVMe SSD RAID 0
Will my hardware will be enough?
Run a benchmark: https://tokenswolf.medium.com/how-to-set-up-a-node-on-hydradx-39cc87b2fa
How to set up a node?
https://tokenswolf.medium.com/how-to-set-up-a-node-on-hydradx-39cc87b2fa
Team
Where I can find the team members?
https://twitter.com/GregusJakub
You can find others in our Github repo: https://github.com/galacticcouncil/hack.HydraDX-node
Roadmap
Will you guys also run on Kusama with a different token first?
We will have our own canary network named Basilisk. BSK will be distributed 1:1 to holders of HDX before the launching of Basilisk. So every LBP participant, inc. testnet contributor and stake drop participant will be able to claim to BSK.
When mainnet?
Our target is ~6 months. However, we also depend on Polkadot infrastructure to be ready and fully functional. It is reasonable to factor in delays. The team is still aiming for the end of Q2
