I'll add my thoughts on this in the discussion section below, however with the treasury at an all time low and when Polkadot is on the cusp of a large update as well as a new platform that will need a relatively large marketing campaign to be successful, the opportunity cost of continuing to foot Hydrations's operations are just too high, especially with a 5M DOT subsidiary. With how much money they've been getting from the treasury, should Polkadot just be a partner at this point and own some of Hydration?

Unless there's a change in the scope with a repayment built in, this is too rich and doesn't provide the value commensurate with the cost.

I share the same view as the rest of the fellow DAO members. I believe that at this point of subsidies, a repayment agreement should be reached, so that Polkadot's Treasury can also be benefited.

We have known the Hydration team for years. They’ve been building since the early days of Polkadot with commitment, even though it was not the TOP3 project at the very beginning. Pushing forward, delivering. Their UX is one of the best in DeFi, as well as the innovative & unique features. Their governance has one of the highest participation rates, if not the highest in the Polkadot ecosystem. But the proposal itself lacks data, projections, ROI scenarios, and more info/clarity about HOLLAR stablecoin launch. This is essential to know for such a large requested amount. Also, there are almost no responses from the Hydration team in the discussion. We want to see more. We want to believe this can become THE Polkadot success story. Something that brings new users from other ecosystems, new investments & real momentum. And maybe it can. But before we give the green light, we need answers and a bit more time. For now, we are abstaining with our vote, but can reconsider later on, based on additional data/feedback.