Polkadot Treasury Awards $14.4 Million Grant to DeFi Project Hydraition
CryptoNewsTerminal Staff10 Jun, 2024
Polkadot Treasury Awards $14.4 Million Grant to DeFi Project Hydraition
Polkadot (DOT), a decentralized blockchain platform, has granted 2 million DOT (approximately $14.4 million) to Hydraition, a decentralized finance (DeFi) project. The funds will be allocated to Omnipool, Hydraition's liquidity provision platform. This grant aims to enhance liquidity on the Hydraition platform, expanding DeFi accessibility and fostering the growth of the Polkadot ecosystem. The integration of Omnipool with Polkadot's parachains will further boost interoperability and liquidity sharing across DeFi applications. This investment signifies Polkadot's commitment to empowering projects that drive innovation and expand the utility of DeFi within its ecosystem. Hydraition, with its focus on liquidity provision, aligns well with Polkadot's vision of fostering a thriving DeFi landscape. This grant follows Polkadot's previous support for DeFi projects, such as Acala and Moonbeam, solidifying its commitment to the growth and adoption of DeFi within its network.
