DeFi Money Market (HYDRA): HYDRA Governance Token

Hydra Network

We first want to give a large thank you to our community for supporting us in the development of the DeFi Money Market (HYDRA) ecosystem. There have been many new members in the community that have recently joined us in our telegram and discord channels. The progress and enthusiasm for the work that we have committed would not be possible without you all.

This blog post is an in-depth analysis of the HYDRA DAO’s governance structure and how stakeholders will oversee and direct the HYDRA ecosystem. Additionally, we will look at the utility of the HYDRA governance token and how it is the central piece that enables the gradual decentralization of HYDRA by aligning stakeholders’ interest with native skin in the game. HYDRA is the key to ensuring the HYDRA DAO is as successful as possible.

DeFi Money Market Overview

Being backed by real world assets also means HYDRA mTokens can offer users a much more stable and reliable ROI on their deposited funds (currently DAI, USDC, ETH) at a stable 6.25% APY. This is in contrast to many other on-chain money markets which offer variable interest rates driven by cryptocurrency leverage traders. Transparency into the off-chain assets backing mTokens and their valuations can be found on-chain and on the HYDRA Explorer. Additionally, our collaboration and usage of Chainlink’s decentralized oracles adds an extra layer of security and trust to the ecosystem by writing essential data on-chain that details the ecosystem’s valuation and total active collateralization.