Hydrachain.org Airdrop Review: A Unique Set of Economic Features
Hydrachain.org Airdrop Review: A Unique Set of Economic Features

Hydrachain.org Airdrop Review: A Unique Set of Economic Features

About Hydrachain.org

Hydrachain.org is a permissionless, open-source, proof-of-stake blockchain built on some of top of the most proven open-source technologies – QTUM, Bitcoin, Ethereum and BlackCoin’s PoV v3, designed by Pavel Vasin. The philosophy behind Hydra is to implement critical economic features while utilizing proven technology for data transmission.

Hydrachain.org is airdropping a total of 18,585,932 HYDRA to HRC-20 LOC holders over a period of 350 days. A varying snapshot will be taken every week for 50 weeks and eligible holders will receive free HYDRA within seven days of each snapshot. Eligible holders will receive 2% of the LOC holdings as HYDRA coins.

BasicDetails
Token NameHydrachain.org Airdrop
PlatformOwn chain
Airdrop Start2021-04-01
Total Value18,585,932 HYDRA
KYCKYC Is Not requirement
WhitepaperClick Here To View
Max. ParticipantsUnlimited
Collect AirdropClick Here To Collect Free Airdrop

How To Join

  1. Hold HRC-20 LOC tokens in your Hydra wallet.
  2. If you’re having ERC-20 LOC tokens, then swap them to HRC-20 to be eligible. For more information regarding swapping, see this page.
  3. A snapshot will be taken every week for 50 weeks, in which each week will have an allocation of 2% of the total airdrop pool.
  4. The first distribution is planned to happen around April 1st and the snapshot a few days before that. Follow their announcements to see the snapshot date.
  5. The rewards will be distributed within seven days after each snapshot.
  6. Users who join after the first snapshot and users who increase the balance after the first snapshot will only receive the rewards after a cool-down period of four weeks. For more information regarding this, see this Medium article.
  7. A one-time KYC is mandatory for all participants. Complete your KYC verification from here to be eligible to receive the rewards.
  8. A certain percentage of airdropped HYDRA as mentioned in this article must be maintained every week in the wallet to be eligible for the airdrop.
  9. Eligible holders will receive 2% of the LOC held during each snapshot as HYDRA coins.
  10. All unclaimed HYDRA coins will be burned.
  11. Your weekly distribution amount, KYC status etc. can be tracked from this sheet.
  12. For more information regarding the airdrop requirements and distribution, see this Medium article.

The Hydra web wallet

There is no other URL being used for the web wallet, please be safe and verify the padlock with “Secure” in the URL field which validates the site. The HYDRA web wallet runs in your browser and connects to the HYDRA network through a full node interface. The web wallet does not store your private keys so you must manage those with a downloaded Key File or seed words. This is completely your responsibility.

The web wallet may be launched by navigating to the site listed above. Upon loading the web wallet, they get this very important warning, please take a few seconds and read it. Welcome to the HYDRA web wallet! As shown below the left panel gives a menu with various options to create or restore a wallet, and other actions.

The top of the menu gives seven choices for creating or restoring a wallet. The bottom of the menu gives various operations and configuration choices. The center part of the wallet page presents forms for data entry, viewing and management of the wallet assets.

HRC20 Token

The web wallet will has built-in capability to add tokens by entering the token’s smart contract information. For example, if you want to add the XYZ token, find that token on the Explorer https://explorer.hydrachain.org/ and copy the Address Hash:

How to Stake With Hydra on Linux

Hydra employs PoS (Proof of Stake) consensus mechanism, which is different from Bitcoin’s PoW (Proof of Work). The mining process in PoS system is called staking. Basic requirements for staking:

  1. Run a Hydra fullnode, and keep online (Since Hydra is using PoS, we don’t need any mining machine, just PC or even Raspberry Pi can run a fullnode);
  2. Have some Hydra in the wallet (fullnode)(Any amount of Hydra can be used for staking, more Hydra means higher possibility to stake).

If you have no Hydra yet, please get some from market before you doing following staking settings. Currently, Hydra Core wallet is the only wallet that support Hydra PoS staking. Note that other wallets like mobile wallet and Hydra Electrum are not able to stake for the time being.

How Transactions Work

Inspect Raw Transaction

In this chapter they will examine the raw transaction data to understand how payment transactions work.

In particular:

  1. How the sender construct a transaction to express how much money transfer and to whom
  2. How the sender proves ownership of an UTXO
  3. How the sender creates a new UTXO as payment, and make sure that only the intended receiver can cliam it

Distribution Mechanics

Originally in 2018 Hydra was designed as a component of LockTrip (LOC), which was later decided to be unpegged and separated as a standalone project. This essentially means HYDRA is a blockchain that was developed by a team that had a unique practical usage perspective as a DaPP developer first. A unique perspective that has put the focus on critical economic limitations of existing chains and made it possible for next-generation block economy to be iterated.

The decision came through a community vote. The LockTrip community evaluated HYDRA as an extraordinary project with unique economic and technical capabilities and far too big potential that deserved to be unpegged and put on its own independent trail.

In this context, Hydra Chain has been financed and developed by the LockTrip team and community, the distribution of the HYDRA coins will happen to LOC holders proportionally to the amount they hold, over a gradual 12-month process. The launch of the blockchain is planned in three stages, of which each is described briefly below.

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