HydraDX
3 known investors
HydraDX is a decentralized trading protocol built on an Omnipool that combines multiple assets in a single liquidity pool for capital-efficient, low-slippage swaps. It serves traders, liquidity providers, and project/DAO treasuries, offering features like time-spread trades, liquidity rewards, and peer-to-peer order matching.
Also known as HDX · Hydration
Investors · 3
Company profile
researched Aug 2026HydraDX, also referred to as Hydration, is a decentralized cross-chain liquidity protocol in the Polkadot/Kusama ecosystem, associated with the Basilisk cross-chain liquidity protocol on Kusama. Its core product is the Omnipool, a single multi-asset liquidity pool design intended to support capital-efficient swaps, which was launched in January 2023.
The protocol has its own network and native token, HDX. HDX balances were initially distributed via a Balancer liquidity bootstrapping event in which participants acquired ERC-20 xHDX tokens on Ethereum; holders subsequently used those xHDX tokens through a dedicated claim application to claim HDX on the Hydration network, with accounts created through the Polkadot.js browser extension and a refund of gas fees spent obtaining xHDX in the official Balancer pool. The network is accessible through standard Polkadot tooling via its public RPC endpoint.
Founding story
The project is attributed to founders Mattia Gagliardi and Jakub Greguš, with Jakub Panik also listed among the founding team.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Positioned as a decentralized exchange and liquidity protocol within blockchain, DeFi and Web3 categories, compared in market intelligence data with Uniswap, Balancer Finance, Serum, Hippo Labs and MojitoSwap.
Technology
The protocol runs as its own Substrate-based network within the Polkadot/Kusama ecosystem, using Polkadot-native addressing (ss58) and the Polkadot.js browser extension for account creation and transaction signing, with a public RPC endpoint (rpc.hydradx.cloud) usable from Polkadot/apps. Its distinguishing trading mechanism is the Omnipool, a single pool combining multiple assets rather than isolated pairs. Token distribution mechanics bridged Ethereum and the Hydration chain: ERC-20 xHDX tokens issued via a Balancer pool were used to sign claim messages from Ethereum wallets (e.g. MetaMask, MyEtherWallet) in order to receive HDX on the native chain.
Go-to-market
Traders and liquidity providers in the Polkadot and Kusama ecosystems, including holders of the HDX token.
Geography
Listed in market intelligence data as United States-based; the protocol itself operates on public blockchain networks in the Polkadot/Kusama ecosystem.
History
Early funding activity is recorded in 2020 and 2021. A Balancer liquidity bootstrapping event distributed ERC-20 xHDX tokens, which holders later exchanged for native HDX through the project's claim application once the Hydration network was available. The Omnipool, the protocol's flagship liquidity mechanism, launched on 6 January 2023. The project's documentation and branding have since been carried under the Hydration name at docs.hydration.net.
Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsThe HydraDX Omnipool, the protocol's single multi-asset liquidity pool, went live.
HydraDX ran a liquidity bootstrapping event on Balancer in which participants received ERC-20 xHDX tokens; after the event xHDX transfers were frozen and tokens could later be used to claim native HDX.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 3
primary sources listed
- HydraDXlbp.hydradx.io · web
3 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does HydraDX do?
- HydraDX (Hydration) is a Polkadot/Kusama-ecosystem decentralized liquidity protocol built around an Omnipool, with the HDX token.
- Who are HydraDX's investors?
- HydraDX's investors include Digital Finance Group, Moonlanding Ventures, Narcissus Ventures.