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What’s the Hydrex Basedrop?
The Hydrex Basedrop is a limited-time program that rewards early adopters of Hydrex with permanent protocol voting and earning power. This helps decentralize Hydrex while giving initial contributors long-term stake in the ecosystem.
We believe the builders and do-ers on Base deserve to own a piece of Hydrex. This is why a significant portion of the initial token supply is directed to Base participants like you; users, projects, and stakeholders who are actively contributing to the ecosystem’s growth.
Our approach stands in direct opposition to the extractive culture of quick-flip tokens and down-only airdrops. Instead of creating another speculative asset, we're focused on empowering existing Base tokens and communities for sustainable, long-term growth.
Who Can Participate in the Basedrop?
Just like Base is for everyone, so is the Hydrex Basedrop! Anyone who wants to have a future stake in Hydrex can become a permanent part of the protocol.
There are 2 main ways you can participate in the Basedrop:
Protocol Mining - By providing liquidity you can earn Hydropoints, a non-transferable metric of onchain participation. These Hydropoints can later be redeemed for veHYDX, giving you a permanent stake in protocol rewards and emissions governance.
Base Badges - You can collect badges by completing community-specific quests, verifying Base ecosystem alignment, or participating in targeted campaigns. Badges contain veHYDX which are acquired at the end of the campaign.
How Do I Mint Base Badges?
You can view all of the available Base Badges on the Hydrex Badge page. To claim a badge, you must meet 2 requirements.
1. You must have completed the required task. For example, for the “Pretty Smart” Badge, you must connect with a funded Coinbase Smart Wallet.
2. You must meet the required Hydropoints threshold. This is shown by clicking the respective Badge and Hydropoints thresholds serve as a barrier to botting.
Once you meet both of these requirements, you can click the “Check Eligibility & Mint” button on the Badge and if met, it will be minted to you. If you don’t see this option, then you don't have enough hydropoints to acquire the badge. Don’t worry, they’re easy & rewarding to get!
New Badges will be added weekly, so try to collect as many as you can. New Badges will appear on the Badges page and be announced through Hydrex’s social channels.
How Do Hydropoints Work & How Do I Earn Them?
Hydropoints can be earned by providing liquidity on the Hydrex Mining page. You can see under “Point Power” how many Hydropoints you will earn per day per $1000 of liquidity you stake. Note, your Hydropoint earning power is proportional to the amount of liquidity you have staked in a pool compared to the total amount of liquidity in that pool. You can stake as little or as much as you’d like.
To provide liquidity:
1. Click “Manage” on the pool you would like to stake in.
2. Select the token you would like to stake. If you need to swap to a desired token, you can do so on the Hydrex Swap page.
3. Once you have the desired amount to stake selected, click deposit, then approve the following transactions in your wallet.
4. Once the transaction is approved and goes through, you are staked and earning Hydropoints! You will now continuously earn Hydropoints while staked.
5. You can view the amount of Hydropoints you’ve earned from a respective pool under “Your Rewards” on the Mining page, and you can see your total Hydropoints at the top of and page on Hydrex.
How Does the Leaderboard Work?
The Leaders page ranks users by the total number of Hydropoints they have earned in the Basedrop. You can also see how many Badges each user has obtained, but rankings are only based on Hydropoints.
The top of the Leaderboard also shows what progress you are at towards the next Hydrex Tier Badge.
Stack as many Hydropoints as you can during the Basedrop to climb the ranks and become a Based God!
How Long Will the Basedrop Last?
The Basedrop began on June 24th and will end once epoch 1 of the Hydrex protocol begins, which is estimated to be at least 9 weeks. The end date of the Basedrop will be announced once it is established.
We’re excited to have you as part of the Hydrex Basedrop, and see our socials below if you have any questions and join our Discord to be part of the growing Hydrex community!
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