This proposal, if approved, launches GIGAHDX and a second, independent money market on Hydration.
GIGAHDX is a fresh implementation of HDX staking - allowing users to stake their HDX, borrow HOLLAR against it, and earn boosted incentives through governance. It builds on the popular gamification from staking 1.0 whilst rewarding higher levels of commitment and improving capital efficiency by allowing HOLLAR borrows against it.
GIGAHDX uses a new, isolated market (separate pool, oracle, and risk config) alongside the existing Hydration money market, reusing only the shared HOLLAR token and treasury.
What this enacts
- stHDX reserve (collateral-only): LTV
40%, liquidation threshold 70%, liquidation bonus 8%, reserve factor 20%.
borrowing of stHDX is disabled. priced by the on-chain omnipool ema oracle.
- HOLLAR reserve (borrow-only): fixed
9% borrow APY, priced at $1. GIGAHDX is registered as a HOLLAR facilitator with a 222,222 HOLLAR mint bucket.
- Runtime wiring: registers stHDX (asset
670) and GIGAHDX (asset 67), connects the GIGAHDX pallet to the new pool, and approves the pool as an EVM controller for liquidations.
- Incentivisation: distribute
90,000,000 HDX over a year to the GIGAHDX + GIGAHDX voting pots