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

---

**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 Polkadot Relayers program, initiated in 2022, aims to foster dApp development on Polkadot parachains. In 2023, it focuses on nurturing 14 committed teams across Europe, Asia, North America, and Latin America. The program seeks to provide mentorship, investment, and ecosystem support, collaborating closely with 7 dedicated parachain teams. Eligible teams include past Polkadot Hackathon finalists, other Web3 participants, and those building or intending to build on participating parachains. Success metrics include the number of incubated teams, Showcase Day attendee demographics, and participant testimonials. The program timeline span is 9 weeks.

Launch and Management of Polkadot Hackathon Global Series: Europe Edition.

- There is a referendum happening for the HydraDX protocol.
- The referendum is about diversifying and deploying a certain amount of money.
- They want to buy HDX, DOT, and iBTC with the money.
- They will gradually swap the money for these cryptocurrencies.
- The decision has been approved by the holders of HDX.

POL Diversification and Deployment (Q2+ 2023)

No Active Proposals