![](https://i.ibb.co/chLG0nR/Dazhbog-logo-250x92.png)


**Intro**

We're pleased to introduce Dazhbog, a decentralized perpetual futures exchange planned for implementation on the Hydration parachain. Dazhbog allows users to trade perpetual futures contracts securely, transparently, and efficiently.


**Proposal**
We are submitting this proposal to seek the approval of the community to proceed with building a decentralized perpetual futures exchange on Hydration. If approved, we will seek funding from Polkadot OpenGov, which will be mutually beneficial for both CBS and the Hydration parachain.
Link to the Discussion post - https://hydration.subsquare.io/posts/202 


**Dazhbog: A Decentralized Perpetual Futures Exchange**
The platform allows users to trade perpetual futures contracts in a decentralized manner, leveraging the security, scalability, and interoperability of the Polkadot network. By integrating into the Hydration parachain, Dazhbog aims to provide a seamless and efficient trading experience without relying on centralized intermediaries.
Dazhbog's core concept and technical feasibility were rigorously validated. Our project secured first place in the DeFi category at the Polkadot Prodigy hackathon (https://www.polkadotprodigy.com), a prestigious competition within the Polkadot ecosystem. Here is the link https://x.com/PolkadotProdigy/status/1800506214658494794 of the Twitter post where the winner was announced. This achievement demonstrates the extensive research conducted and the project's potential. The recognition highlights the traction Dazhbog has gained within the Polkadot community, further motivating our team to pursue its development.

The full proposal with a Time & Budget Breakdown is available here - https://docs.google.com/document/d/13F4tM_uS4XqDc1Ek8NHHb52ZfB-S-Vswcqme_Iux3fQ

Also, at Polkadot Decoded, we talked with Jakub Gregus (Hydra CEO) and Jakub Panik (Hydra CTO), they liked the idea, but we're also interested in the opinion of the Hydration community.

Below, I am providing the Pitch Deck, Whitepaper, W3F grant discussion and application where you can read more about the project.

Pitch Deck - https://drive.google.com/file/d/1GcV3rve6ChxUiNDFok5VImYQzNo-LgWT
Whitepaper - https://drive.google.com/file/d/14xV1bsHz5rH5NibBrFE6MMjqCUGLLO_9
W3F Level 2 Grant Application (we applied for the Proof of Concept) - https://github.com/Ceres-Blockchain-Solutions/W3F-Grants-program/blob/7083ed96603635f78159ba6e1aaf77dc86f1a752/applications/Dazhbog.md
W3F Level 2 Grant Discussion - https://github.com/w3f/Grants-Program/pull/2338


Build a Decentralized Perpetual Futures Exchange

Hydration DAO currently has `309.15` WETH (Moonbeam Wormhole) sitting in the Treasury `[7L53bUTBopuwFt3mKUfmkzgGLayYa1Yvn1hAg9v5UMrQzTfh]` that is not being utilised as liquidity in the Omnipool.

I am proposing that we convert this to WETH (Snowbridge) using our OTC Trader with a `0.25%` premium, and subsequently add that liquidity to the Omnipool to activate trading of Snowbridge WETH for the Polkadot ecosystem.

Omnipool listing will form a separate proposal, this discussion and poll are simply wrt converting the MRL WETH to snowbridge WETH using our OTC trader.

This discussion & poll will last for two days, ending around 12PM BST on Friday 19th July.

Seed initial Snowbridge WETH from POL

In order to assist the [ongoing discussion](https://hydradx.subsquare.io/posts/173) wrt what to do with the PINK supply HydraDX received after registering the PINK asset on the asset registry, I have pulled together this snapshot in order to gauge from the 2 most popular answers which direction to move towards referendum with.

**Option 1** - **airdrop to HDX stakers** would need further discussion around whether to do this linearly, introduce some caps, include conviction multipliers, etc

**Option 2** - **create a PINK/ DOT Isolated pool** would require an OTC order to be made to swap half of the PINK for DOT in order to create the pool with both sides of liquidity. I would propose we create a council-controlled multisig to receive the PINK in order to action the steps required in the most agile way possible, if this option is approved.

What to do with HydraDX POL PINK?

It would be easier to scan for interesting swaps if they all had the " ~ X USDT" at the end. 

Even if USDT was involved in the transaction, it would still have the USDT value at the end.  

It's an easy change on github. I will submit a pull request if majority approves. 

Downside is more text and more text wrapping on mobile. 


Discord>Omniwatch: Include USDT amount at the end of all swaps

11.08.2023 I send in Nova wallet 2 transaction (look at foto). 
Transaction 2 - i use https://app.hydradx.io/cross-chain (cross-chain HydraDX - ASTR in app)
Transaction 1 - i send in Nowa wallet (erroneous transaction from the application "Nowa wallet" interface). I sent it to HydraDX parachain account directly...
Transaction id 0x093a214e0288f48e1007568c2c938e2d9ca30c493429eb5f9b0ff8e1186b9a62
My ASTR adress XwvFqwGxd7vUFde3DsYbyTb69dbU5AJVDvprRdd257P5qbt
I sincerely ask you to return my funds back. This is too high a price to pay for my stupidity...
I also provide screenshots of correspondence with members of Team HydraDX and Nova Wallet with their confirmation of the authenticity of my words.
![](https://postimg.cc/grmG9QJ6)
![](https://postimg.cc/14vhkz2L)
![](https://postimg.cc/4nNjQgyw)
**This proposal, if approved, will:**

Transfer 10000 ASTR from HydraDX Treasury to  XwvFqwGxd7vUFde3DsYbyTb69dbU5AJVDvprRdd257P5qbt
