The HydraChain Airdrop : Solving The Total Supply Problem

Overview

  • Over 350 days, HydraChain will airdrop a total of 18,585,932 HYDRA to HRC-20 LOC holders.
  • Every week for 50 weeks, a snapshot will be taken, and qualified holders will get free HYDRA within seven days of the snapshot.
  • Hydra Chain is an open-source, permission-less blockchain project that arose from the Lock Trip project.
Source : HydraChain

What is HydraChain?

Hydra Chain is an open-source, permission-less blockchain project that arose from the Lock Trip project. The team behind the project issued a paper called “LockTrip Blockchain Manifest” in 2018, which became Hydra Chain’s defining design document.

The paper was created in response to actual concerns discovered during the development of the LockTrip dApp. This makes Hydra Chain one of the few blockchain projects to be built around actual concerns experienced during the development of a dApp.

Using the best open-source technology available was one of the methods employed in the creation of Hydra Chain. Some of today’s major blockchain projects, including Litecoin, Qtum, and Bitcoin Cash, have utilized this effective method.

Hydra Chain follows a concept of including important economic aspects while utilizing blockchain technology that has proven to be successful for data transfer. It is a permissionless and open-source proof-of-stake blockchain that was developed on top of larger blockchain projects like Qtum, Bitcoin, Ethereum, and Pavel Vasin’s PoV v3 for BlackCoin. Hydra has a variety of distinct economic aspects, as well as a completely decentralized design.

What makes Hydra Chain unique?

Hydra tackles one of the most challenging problems with blockchains: determining when and how to move from an inflationary to a deflationary state, owing to its unique capacity to burn up to 100% of transaction fees at the protocol level, in addition to inflationary block rewards. Due to its capacity to turn transaction gas into a permanent supply reduction, this encourages infrastructure and community expansion while also providing price protection.

The term “total supply” isn’t just a number with Hydra. It is a direct depiction of the system’s real economy and usefulness. On the one hand, block rewards increase total supply and create new HYDRA coins, while on the other hand, 50% of transaction fees are burned on the protocol level in parallel with block rewards, reducing total supply.

A one-of-a-kind constant battle between the two economic streams in the same system results in a predictable and appealing economy for investors while preventing price depreciation due to inflation. A market-driven strategy to determining the tipping point between inflation and deflation, as well as ensuring that the entire system adapts to the real economy and usage, rather than the other way around, as is the case with other existing blockchain economies.

Source: HydraChain

Hydra Chain Tokenomics

To begin, there is 18.5 million HYDRA in circulation. Inflation will be prevalent during the blockchain economy’s seed/growth period, and the total supply will appreciate. As adoption grows, the number of transactions will rise, resulting in a direct supply cut through the 50% burn rate on transactions.

About The Hydra Airdrop

Over 350 days, Hydra will airdrop a total of 18,585,932 HYDRA to HRC-20 LOC holders. Every week for 50 weeks, new snapshots will be taken, and qualified holders will get free HYDRA within seven days of each snapshot. Eligible investors will get HYDRA coins worth 2% of their LOC holdings

How to participate?

  1. Hold HRC-20 LOC tokens in your Hydra wallet.
  2. If you’re having ERC-20 LOC tokens, then swap them to HRC-20 to be eligible.
  3. A snapshot will be taken every week for 50 weeks. Each week will have an allocation of 2% of the total airdrop pool.
  4. The first distribution is planned to happen around April 1st and the snapshot a few days before that. Follow their announcements to see the snapshot date.
  5. The rewards will be distributed within seven days after each snapshot.
  6. A one-time KYC is mandatory for all participants. Complete your KYC verification from here to be eligible for this airdrop.
  7. A certain percentage of airdropped HYDRA must be maintained every week in the wallet to be eligible for the airdrop.
  8. Eligible holders will receive 2% of the LOC held during each snapshot as HYDRA coins.
  9. Your weekly distribution amount can be tracked from this sheet.
  10. See this Medium article, for more information about this article.

Special Requirements

Speculators will be disincentivized by the airdrop mechanism, which allows for a progressive 2 percent limit release with each additional weekly snapshot:

  1. Regular delivery to whitelisted wallets in the first week
  2. During the second week, 98 percent of all previously received HYDRA must be retained.
  3. 96 percent of all previously obtained HYDRA must be retained in the third week, and so on.

The airdrop is not open to residents or citizens of the following countries: the United States, North Korea, Iran, Afghanistan, the Bahamas, Barbados, Botswana, Cambodia, Ghana, Iraq, Jamaica, Mauritius, Mongolia, Burma, Nicaragua, Pakistan, Panama, Egypt, Trinidad and Tobago, Uganda, Vanuatu, Yemen, and Zimbabwe.

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