Hydra is a business-oriented cryptocurrency project that aims to solve the “Total Supply Problem”. The Hydra ecosystem consists of the Proof-of-State Hydra blockchain and the HYDRA token. Although focused on business use cases, applications can be built on top of Hydra blockchain across a variety of sectors, including DeFi, travel, gaming, and more. The project uses innovative methods that combine inflationary with deflationary mechanics as part of its unique economic architecture.

The total maximum supply of HYDRA can increase or decrease depending on requirements thanks to its fluid state of inflation or deflation.

What are Hydra’s key features and how does it work?

The Hydra ecosystem and blockchain consist of its staking economy, token projects built on top of the network, NFT marketplace, as well as its own DeFi products. Hydra staking includes a set of nodes around the globe that maintain the network.

As mentioned, a crucial part of Hydra is its innovative ability to interchange inflationary and deflationary economics. The protocol achieves this by having the ability to burn up to 100% of transaction fees at the protocol level, thus entering a deflationary economic model. In order to achieve an inflation state, new coins are minted and distributed in the form of block rewards to network validators.

The direction and amount of supply change can be determined and voted on by coin holders, allowing the chain to adapt dynamically to changes in external and internal developments. A fixed supply state can also be reached by equalizing the inflation rate with the burn rate.

What can Hydra be used for?

Hydra allows developers and projects to build on the platform by supporting Turing-complete smart contracts. Applications can be made that execute on-chain and can benefit from receiving gas royalty from any transaction fees.

Examples of projects built on Hydra include:

GoMeat: A digital marketplace that links consumers to speciality products, for example, halal and kosher meat, and ethnic stores whilst ensuring transparency and traceability.
Evedo: A platform that aims to unify businesses and participants in event organizations.
LockTrip: A travel marketplace that offers users discounts and rewards by removing any third parties in the booking process.

Where can you buy HYDRA?

HYDRA is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are KuCoin, MEXC Global, and Gate.io. The price of HYDRA will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for HYDRA market price, please view the price charts on this page.