**This referendum, if passed, will place the following on-chain remark:**
*https://gateway.pinata.cloud/ipfs/QmXxDgaDXCNs1Fk6X1n9EZNfgfA7Zz7GDqsUoYB6VKMcHF*

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**The on-chain remark links to an externally stored .md file with the following content, which is the output from the recent governance discussion:** https://hydradx.subsquare.io/post/69

## POL Diversification and Deployment (Q2+ 2023)
This framework authorizes and mandates the HydraDX Council to diversify and/or deploy up to 4.8M DAI of the HydraDX protocol owned liquidity (POL) during and beyond Q2 2023 as follows:

### Buy 1,000,000 DAI worth of HDX

- Bridge 1,000,000 DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
- Initiate DCA (Dollar Cost Average) orders to gradually swap a total of 1,000,000 DAI for HDX in the Omnipool;
- Future use of the accumulated HDX to be discussed.

### Buy 3,330,000 DAI worth of DOT (incl. LSDs)

- Bridge 3,330,000 DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
- Initiate DCA (Dollar Cost Average) orders to gradually swap a total of 3,330,000 DAI for DOT in the Omnipool;
- Accumulated DOT to be split between the following use cases:
    - At least 1M DAI equivalent deployed to Omnipool as LP;
    - At least 1M DAI equivalent swapped for DOT LSDs (options to be explored) and to be deployed to the Omnipool as LP;
    - The remainder to be reserved for the next HydraDX parachain slot. Once the slot is secured, a discussion can decide how to utilize any remaining DOT.

### Buy 500,000 DAI worth of iBTC

- Bridge 500,000 DAI to Acala using Wormhole, transfer via XCM to the HydraDX Treasury account;
- Initiate DCA (Dollar Cost Average) orders to gradually swap a total of 500,000 DAI for iBTC in the Omnipool;
- Deploy the accumulated iBTC into the Omnipool.

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The present framework has undergone a discussion on the governance forum of the HydraDX Protocol and has been approved in a general democratic vote by all holders of HDX.



- The HydraDX Council wants to diversify and deploy some of the protocol's owned liquidity.
- They plan to buy HDX, DOT, and iBTC using DAI.
- The purchased assets will be used for different purposes, such as LP (liquidity provider) and future discussions.
- The framework has been approved by the holders of HDX.

POL Diversification and Deployment (Q2+ 2023)

No Active Proposals