gm Hydratooooors,
We are currently in the process of withdrawing our Wormhole (Acala) assets and swapping them for Wormhole (Moonbeam) [MRL] assets as per this discussion.
We are also imminently going to be launching our Stablepools feature (finally!), meaning that when our DAI > USDC OTC order is filled, we will be launching USDC (native) directly into a Stablepool with USDT (native). We currently have between 2-2.1M DAI allocated as Omnipool liquidity.
In order to reduce our "bridge risk", we should not include DAI in a Stablepool with our native assets - that being said, we do need to have means of low slippage swaps between bridged and native stablecoins. I believe we can leverage MRL, Stablepools & Omnipool to provide a low-slippage decentralised stablecoins onboarding route into our ecosystem.
My proposal is as follows:
This will compliment our other 2pool Stablepool - USDC/ USDT (native) - which will also have its' asset shares deposited into the Omnipool. (liquidity will likely be ~2.6M worth of each, 2.2M current allocation + 800K of the existing DAI allocation)
The combination of these two Stablepools, deposited into the Omnipool will:
I have raised this discussion now, as we are currently in the process of swapping DAI (Acala Wormhole) for MRL versions - however, it would make sense to OTC the DAI directly into USDT (MRL)/ USDC (MRL)/USDC (native) instead of swapping to DAI (MRL) and then swapping once more for each of those assets.
Happy to answer any questions - stay hydrated!
EDIT: I have updated the numbers to ~300K of each of the assets in the MRL 4pool, as the research work we've done on the A parameters suggests that this will provide ample liquidity for the onboarding of liquidity. The remaining DAI from this allocation will be redirected towards native stablecoins.
HydraDX is withdrawing assets and swapping them for new ones. They are launching a Stablepools feature and allocating 2-2.1M DAI as Omnipool liquidity. They want to reduce their "bridge risk" and provide a low-slippage decentralized stablecoins onboarding route. They propose diversifying 2M DAI allocated as Omnipool liquidity into a 4pool Stablepool and depositing the asset shares into the Omnipool. This will allow HydraDX to operate as an onboarding route for DAI/USDT/USDC liquidity from Ethereum to Polkadot native stablecoins, with minimal price impact. They will maintain stablecoin liquidity in the Omnipool and reduce reliance on bridged versions of stablecoins.