Yet another day of the macro downtrend, but remember what we said,
Bear markets are meant for Buidlers!!
Central to Polkadot’s design has been the idea that good governance is necessary for a system’s participants to have agency and for the system as a whole to stay relevant. Participating in on-chain governance is an important aspect of Web3, as it contributes to both decentralized decision-making and increases the transparency of protocol changes.
Polkassembly recently completed the integration of Basilisk (HydraDX coming soon)
HydraDX is a Substrate-based, open, and permissionless cross-chain liquidity protocol for the Polkadot ecosystem. It enables frictionless liquidity for all cryptoassets with the first of its kind multi-asset liquidity pool — the HydraDX Omnipool. In the Omnipool, various assets аrе priced against each other by using the LRNA token as a proxy for determining their relative value. With the Omnipool, HydraDX breaks with the traditional conception according to which assets are traded in pairs using isolated pools, allowing for much greater capital efficiency through reduced liquidity fragmentation.
HydraDX benefits from the shared security, speed, and flexibility of the Substrate framework while remaining optimized for a single purpose: enabling fluid programmable value exchange. Learn more: https://hydradx.io/
Basilisk is not a mere canary network of HydraDX — it is an independent chain that has the mission to enable frictionless liquidity bootstrapping for new crypto assets.
Basilisk is a natural stepping stone on the journey towards building the liquidity infrastructure of the future. Together, Basilisk and HydraDX create a synergy that caters to the varying needs of crypto assets throughout their entire life cycle.
The combination of Polkassembly and the democracy precompile will vastly reduce the friction for network participants to engage in on-chain decision-making. Learn more: https://bsx.fi/
Polkassembly governance page- Basilisk
Polkassembly is a platform to discuss and vote on governance proposals, motions and referenda. Our unified platform democratizes governance for Substrate chains to enable communities to make decisions about the future of their protocol. We also provide a voting experience that allows networks to further decentralize their governance by providing a forum space for token holders to offer opinions and lobby for important changes that matter to them. Users can propose, explain, discuss, and vote on network decisions. Users vote by locking tokens for a transparent lock period and unlocking tokens with expired democracy locks from the settings page.
Using Polkassembly, token holders can get involved with various aspects of network management including, but not limited to, code upgrades, changes to the values for key parameters, and even alterations to the governance system itself to build community and maintain the ecosystem.
We are grateful for the support from the Web3 Foundation and Polkassembly is a part of the latest cohort of projects at the Substrate builders program. Check out the platform on https://polkassembly.io & follow us on Twitter for the latest updates. If you are building in the Dotsama ecosystem and would like to use Polkassembly to enable effective governance for your platform, please fill out this small form or reach out to us at email@example.com
Also, before you go, a few more updates coming your way soon! ;-)