RFC: Listing CFG in HydraDX Omnipool & seeding initial liquidity

Centrifuge Governance Proposals
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To understand the associated IL well, we must go through the design behind the Omnipool, which you can get here: Omnipool Design | HydraDX Docs

In theory is based on LRNA (Omnipool hub token and which represents all the Omnipool liquidity) paired with the Y token, but understand the all picture is the best

I know that the team is preparing some IL comparisons and calculators, so it is more understandable to the community, but it may be for another week or so

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I definitely support CFG being listed on HydraDX which is posed to be the biggest and most innovative non-EVM DEX in the Polkadot ecosystem. Also, we finally need a DEX that will list most of the pairs in the eco and allow for deep liquidity so I can’t think of anyone more suited for the job than the Hydra team.

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@jrafaelangarita @jgreen @lolmcshizz
Good day guys!
I saw your message in twitter (replied also there), but would like to answer also here.

hey sir, i can know what the nexts steps are for the proposal? Seems like not more questions are maded, when will go to the snapshot vote ?

The next step:

  1. Decide if you are ready to proceed for the next step. Nothing prevents you to move forward.
  2. In case if you would like to change anything in your proposal you can do this before submitting it on GitHub. Once the proposal will be submitted on GitHub the proposal can not change anymore.
  3. Submit a proposal on GitHub ( I or @Rhano will assist you or help you)
  4. Start Opensquare-snapshot vote (I or Orhan will help you with the manual and template)
  5. If the proposal will pass - > create on-chain vote.

I saw some comments and feedback about the amount requested in this topic.
If you think that your proposal should not be changed (please note that this is always up to Author of the proposal to decide), so in this case feel free to contact me or @Rhano and we will proceed forward.
If you would like to change your proposal in this case:

  1. Please edit the first message
  2. Leave a comment here about changes.
  3. Inform me or Orhan and we will proceed forward.

If you have any other questions feel free to ask us.

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Hi Jake,

we are currently compiling public docs for IL. From my observations, IL is very similar to UniV2 but a little bit more complicated to understand as it is always TKN compared to LRNA price, which itself is kind of a price index of all Omnipool tokens. To demonstrate IL as a function of price change please check the following graph. Please note that accrued trading fees counteracting IL are not taken into account here.

image
image1156×321 48.1 KB

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Hello, I decreased the CFG amount requested from 2,222,222 to 500,000 to align with the community feedback to set it around $100k. This amount could be easily increased later if needed.

We are ready to move forward with the proposal. Can you please assist us and open it on github and also the snapshot voting?

1 Like
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Good day @jgreen
Thank you for your message.
Yes, sure. Feel free to contact me in DM here, discord or via Telegram.
I will provide you with templates, explanations and synch.

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@jgreen @lolmcshizz
Please double-check and confirm the wallet addresses used in RFC.

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These addresses are correct, i also added those to the main post.

2 Likes
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Good day @jgreen
Thank you .
The Opensquare snapshot vote is live now - CP53(GI): Listing CFG in HydraDX Omnipool & seeding initial liquidity
Feel free to vote at your earliest convenience if you have any CFG tokens in your wallet :hugs:

1 Like