Cosmos Hub has submitted a governance proposal seeking community approval to move 1 million ATOM to the Hydro liquidity protocol.
the The platform said On July 26, the Cosmos Hub (ATOM) project was launched.The opposition was posted on the community forum. If the community approves the plan, Cosmos Hub will transfer 1 million ATOM tokens from its community pool to the Hydro committee.
Accordingly, 500,000 ATOM will be used to fund the ATOM liquidity pool on the interchain auction protocol. Meanwhile, the other 500,000 ATOM will be put into the Stride liquid staking platform to fund the stATOM liquidity bucket.
Stride is the first liquid betting platform in the Cosmos ecosystem, currently boasting nearly 120,000 liquid betting users. At the time of writing, the protocol’s assets are approaching $100 million.
What is hydro?
Hydro is a cross-chain liquidity management platform that leverages the Cosmos Hub to provide liquidity, governance, and community growth. The protocol generates value from bidders and through yield accrued by deploying liquidity to DeFi protocols.
As for how Hydro works, Cosmos Hub says it’s a set of smart contracts that projects can leverage to post liquidity owned by the protocol. These posts allow DeFi protocols to bid on liquidity and are governed by the Cosmos Hub community. The value accumulated from these transactions benefits all ATOM holders.
Thiborg, a strategist at Cosmos Hub shareholder Informal Systems, described the proposal as a fresh liquidity injection ahead of the Hydro platform launch.
Hydro is currently in testnet.
ATOM Tokens Publishing
ATOM is currently the second largest liquidity native token on Osmosis, while representing a significant portion of the total value locked on Astroport, Cosmos’ liquidity protocol.
for every DevilamaAstroport’s total sales value is currently around $28.89 million, while sales volume to date has exceeded $1.3 billion.
ATOM token is also deployed across 15 decentralized applications in the Cosmos ecosystem, including Canto, Injective, Archway, Dymension, and Kava.