Thank you for the great proposal! I would like to ask a few more questions.
Increasing liquidity is a good thing. However, I am not sure if it will be a long-term solution if a similar event happens again. What are your thoughts on this?
I am not very familiar with technical matters. Will doing something like this have any other effects?
The proposal is acceptable given the availability of the treasury. I believe that a clearer policy on fundraising is necessary to encourage everyone to vote positively on future proposals. I echo @'s words. We cannot leave other forms of liquidity aside.
Increasing liquidity in Hydra could be a good strategy, the amount of ASTR requested is high, I will vote in favor but if the proposal is fully approved it would be good that the Hydra team presents a monthly report to the forum on the performance of the liquidity in its platform to provide liquidity that is not used is not good either, because it could be used to support other areas within Astar.
Hello, thanks for your proposal. While i strongly support this proposal, I’m still of the opinion that the liquidity is a little bit high on a single protocol at this time, owing to the fact there other chains like Astar zkEVM that requires more liquidity. Thank you.
I support the proposal. Liquidity is really importante and Hydra is a top #1 product on Polkadot. Super easy way to transfer assets between chains - ASTR needs to stay liquid!!
You can check anytime the current value of the Astar deposit into the Omnipool at:
You can always check the usage of the ASTR in the Omnipool at:
(specifically, what is the ASTR trading volume over the past 24 hours)
Voted YES, I have used Hydra and it’s the best way to manage multiple operations on Polkadot. Providing more liquidity and lowering the slippage can be beneficial for both Parachains
I voted YES, liquidity is important in a ecosystem and HydraDX provides a very good dex.
Voted Yes.
After thoroughly reading the thread, I believe this proposal is a good way to make effective use of the treasury.
Oh yes perfect, nice board I will add it to my favorites in the browser. Thanks for the info. Additionally it would be nice if you will present a trading report here on the forum with the support of the dashboard I think that would give everyone a better understanding of the performance of ASTR, as the forum is the easiest way to access the information of the projects.
Was first against it. After reading through the conversations from the community and the team I changed my vote. You have my support.
I would like to share my support for this proposal, as the Astar is also doing great on Polkadot, and this is not going to just spend the treasury but may also earn some trading fees and increase the liquidity on Polkadot side.
Congratulations @spazcoin 
The proposal to provide 5.54M ASTR as liquidity provision to HydraDX Omnipool has been accepted by the Astar Community.
In order to proceed with the liquidity deposit, please prepare the instructions as follows:
Thank you
Congrats Team!!! Let’s make cool things together =)
Congratulations to the team ASTR liquidity is expanding!!!
Thanks @Gaius_sama and everyone in the Astar community who supported this initiative! Sorry I’ve been silent for two weeks – I’ve been working every night to set up Chopsticks and verify the correct extrinsics to perform the deposit. Now we’re ready to roll.
First, here are the limitations I discovered:
scheduler pallet which could be used to perform the 54 deposits. But it can only be called from HydraDX governance and not by normal accounts. Plus that would result in 54 NFTs for the LP positions, making it more difficult to see cumulative stats for the deposit in the future.scheduler pallet integrated.Therefore the options to achieve this 5.4M ASTR deposit into the Omnipool are:
Therefore after discussion with the Hydra team we’ll pursue #2 and use Hydra governance to complete the 5.4M ASTR deposit. Astar governance can still issue XCM messages in the future to remove the liquidity and bring it back to the Astar treasury; you just have to remove it 5% at a time (again, per-block rate limits).
Finally, I learned that the Astar team had planned to use an Astar-team multisig on the Hydra chain to hold the funds/LP. However, when HydraDX performed the initial ASTR liquidity deposit into the Omnipool they moved the resulting LP NFT into the Astar Sibling account on Hydra instead of to the Astar-team multisig. Looking at each proposal I don’t see the address for that multisig account so it doesn’t seem very discoverable/transparent, whereas the Astar Sibling account is easy to find using tools like https://www.shawntabrizi.com/substrate-js-utilities/ and https://polkadot.subscan.io/tools/format_transform. Therefore for this operation I would suggest the ASTR funds be sent to the Astar sibling account and from there deposited into the Omnipool instead of being routed through a multisig.
Here is the call to move this additional 5.4M ASTR liquidity from the Astar Treasury into the Astar Sibling acct on HydraDX:
0x330203010100c91f03000101007369626cd60700000000000000000000000000000000000000000000000000000304000000001f0000d012d9cbb7ab7f770400000000
where Astar Sibling acct public key is: 0x7369626cd6070000000000000000000000000000000000000000000000000000
Then HydraDX governance will deposit the 5.4M ASTR into Omnipool using:
0x0d020c4101090000000188130000e80300000d0301017369626cd60700000000000000000000000000000000000000000000000000003b0209000000000000ffcf8529967e7704000000000041010900000001f401000010270000
where Astar Sibling acct on HydraDX is: 7LCt6dFnHxYDyomeCEC8nsnBUEC6omC6y7SZQk4ESzDpiDYo and is visualized as “SIBLING 2,006”.
In the future you can call uniques.account(7LCt6dFnHxYDyomeCEC8nsnBUEC6omC6y7SZQk4ESzDpiDYo,1337) to get the IDs for the liquidity deposits in the Omnipool. You can also use omnipool.positions(2011) to see the specific number of shares in that ASTR LP position.
When withdrawing the LP, you can only withdraw 5% of the overall ASTR liquidity at a time. Here is the Hydradx call to withdraw 1% (2.2k) of one of that LP position:
0x3b03db070000000000000000000000000000ba35f4c4b7a54f6e93d6010000000000
Wrapped as an XCM transaction issued from the Astar chain, the call is:
0x330003010100c91f03180b0101006d6f646c70792f7472737279000000000000000000000000000000000000000000040001000002286bee130001000002286bee0006010700e40b5402821a0600883b03db070000000000000000000000000000ba35f4c4b7a54f6e93d6010000000000140d0100010100591f
As a result of this investigation:
I’ve proposed these feature requests to the Hydra team:
Allow normal accounts to use the scheduler pallet.
On the account liquidity page where it shows the value of that account’s LP deposits, if there are multiple deposits/NFTs of the same token then also show a cumulative stat view. This will be valuable for taking screenshots of LP stats for communities to monitor how their treasury’s deposits are doing. (instead of seeing 50 individual LP positions and manually summing them up each time)
Suggestions for the Astar team – please integrate the scheduler pallet, which would enable Astar treasury to perform more complex transactions on other chains.
Tl;dr – Astar treasury should send the 5.4M ASTR to the Astar Sibling account on HydraDX chain. Then HydraDX governance will execute adding the ASTR liquidity to the Omnipool.
Thank you @spazcoin for preparing the instructions.
I have informed the foundation to review your post and proceed with the liquidity provision in the Omnipool.
I’ll keep the community informed of progress in this discussion.
I’ve tested extrinsics further for other networks and xtokens.transfer appears to work better than reserveTransferAsset to move treasury tokens to other parachains. Or reserveTransferAsset works on Astar if you wrap it with sudoAs. Therefore for the first step of moving ASTR to the sibling acct on HydraDX I’d recommend using:
0x6303006d6f646c70792f74727372790000000000000000000000000000000000000000330203010100c91f03000101007369626cd60700000000000000000000000000000000000000000000000000000304000000001f000050d20ed4021625950400000000
where Astar Sibling acct public key is: 0x7369626cd6070000000000000000000000000000000000000000000000000000
the rest of the procedure remains the same:
HydraDX governance will deposit the 5.54M ASTR into Omnipool using:
0x0d020c4101090000000188130000e80300000d0301017369626cd60700000000000000000000000000000000000000000000000000003b0209000000000080be058e7400249504000000000041010900000001f401000010270000
where Astar Sibling acct on HydraDX is: 7LCt6dFnHxYDyomeCEC8nsnBUEC6omC6y7SZQk4ESzDpiDYo and is visualized as “SIBLING 2,006”.
In the future you can call uniques.account(7LCt6dFnHxYDyomeCEC8nsnBUEC6omC6y7SZQk4ESzDpiDYo,1337) to get the IDs for the liquidity deposits in the Omnipool. You can also use omnipool.positions(2011) to see the specific number of shares in that ASTR LP position.
When withdrawing the LP, you can only withdraw 5% of the overall ASTR liquidity at a time. Here is the Hydradx call to withdraw 1% (2.2k) of one of that LP position:
0x3b03db0700000000000000000000000000000000f8e556cb71747800000000000000
Wrapped as an XCM transaction issued from the Astar chain, the call is:
0x330003010200c91f01007369626cd60700000000000000000000000000000000000000000000000000000314000400000000070010a5d4e81300000000070010a5d4e80006000700e40b5402821a0600883b03db0700000000000000000000000000000000f8e556cb71747800000000000000140d0100000101007369626cd6070000000000000000000000000000000000000000000000000000
Hello @spazcoin
The cross-chain transfer of 5,540,020 ASTR has been executed and the funds have arrived in the Astar siblings’ account on HydraDX parachain.
Due to a communication mix-up, the transfer was split into two transfers, one of 5,400,020 ASTR and the other of 140,000 ASTR.
5,400,020 ASTR transfer:
140,000 ASTR transfer:
The total amount of 5,540,020 ASTR is now in the Astar sibling account on HydraDX.
The next step is for Hydra’s governance to vote to supply the liquidity from the sibling account to the omnipool.
Omnipool was hydrated with 5,540,000 ASTR tokens from the Astar Treasury.
Good job leading this @spazcoin
