Hydro Protocol ($HDRO) Token Airdrop Information
The Hydro protocol is the first and only native liquid staking protocol on the Injective Network. They are one of the best injectable ecosystem projects for airdrops. This is because the airdrop has already been confirmed and is in the testnet stage. This means you don’t have to spend any real money to participate. This is a guide to the Hydro Protocol ($HDRO) token airdrop.
Check out the Hydro Protocol airdrop video guide!
What is Hydro Protocol?
Hydro Protocol is a platform for staking assets on the Injective Network that provides liquid staking derivatives (LSDs) and real return aggregation. Key features of Hydro Protocol include:
- Liquidity Staking Derivatives (LSD): Users can deposit INJ tokens and receive hINJ tokens, which can be used across other DeFi protocols and earn staking rewards.
- hINJ Token: Hydro Protocol’s liquid staking token that provides INJ holders with immediate staking benefits and liquidity.
- Yield Farming: Users can deposit hINJ tokens and earn maximum yield through a boost program that rewards farmers.
- Auto-compositing: This feature automatically re-stakes INJ rewards for users, saving time and fees and maximizing staking returns.
- HDRO tokens: This is Hydro Protocol’s governance and utility token with deflation and value generation mechanisms that benefit HDRO holders and equity holders.
- Actual Revenue Aggregator: This feature creates new opportunities for Liquid Stake Derivatives Finance (LSDFi) by aggregating real returns from various sources into indices and distributing them to users.
Is there a Hydro Protocol ($HDRO) token airdrop?
Hydro Protocol has confirmed that it will launch its mainnet and $HDRO token on January 31, 2024. They also confirmed that they will be conducting three airdrops as follows:
- Testnet airdrop: Those who participated in the fall 2023 testnet campaign can participate. The airdrop amount is determined by your leaderboard ranking.
- INJ Stakers Airdrop: For anyone holding a certain amount of INJ on an active validator in the injection ecosystem. The snapshot was taken on January 4, 2024 at 14:11:45 UTC. The airdrop amount is determined by the staking period and quantity.
- Early Access Farming Airdrop: For users who stake INJ to Hydro after Hydro is launched on January 31, 2024. The airdrop will last for 4 weeks and will have a boost factor. The amount airdropped is determined by the time and amount of staking.
How to receive Hydro Protocol ($HDRO) token airdrop?
Phases 1 and 2 of the Hydro Protocol ($HDRO) token airdrop have already been completed. But there’s still one last airdrop left, and the team promises it will be the biggest airdrop ever! There are only 4 weeks left until this airdrop, so you need to act now!
The Hydro Protocol team said liquid staking is a top priority for the airdrop. Therefore, we recommend that users focus on step 3 below and allocate less testnet $INJ to other tasks.
necessary time: 30 minutes
Here’s how to receive the third and final Hydro Protocol ($HDRO) token airdrop.
- Add Injective Testnet to your wallet
Hydro Protocol supports Keplr and Leap wallets. Make sure you have added the injective testnet to your wallet. To do this in your Keplr wallet, go to https://chains.keplr.app/. Search for Injective(testnet) and add the chain.
- Get testnet $INJ token
Go to https://testnet.faucet.injective.network/, enter your Injective address and click “Submit”. You can also exchange testnet USDT for testnet $INJ by going to https://mito.fi/.
- Liquid Staking
Go to https://app.hydroprotocol.finance/lsd. Enter the number of testnet $INJ tokens you want to stake and click “Stake & Mint”. Follow the instructions in your Keplr wallet. hINJ will be issued at a 1:1 ratio of staked INJ. We do this for both $INJ and $HDRO reward types.
- Farm
After issuing hINJ, go to https://app.hydroprotocol.finance/farm. Enter the amount of hINJ you want to stake, agree to the terms and conditions and click “Add Farm”.
- automatic synthesis
Go to https://app.hydroprotocol.finance/auto to delegate testnet $INJ to an injective validator. Enter the amount you want to delegate and click “Stake.”
- grass
Go to https://app.hydroprotocol.finance/pool and select the HYDRO/INJ pool. This pool is the only one featured on Hydro’s leaderboards, so it should be your top priority if you want to play with liquidity pools. Enter the amount of $HDRO and testnet $INJ you want to stake and confirm the transaction.
- rule
Go to https://app.hydroprotocol.finance/governance and stake $HDRO to earn $xHDRO. Then vote using $xHDRO in “Suggestion”.
- Testnet $INJ Token Exchange
Go to https://app.hydroprotocol.finance/swap and make a few swaps.
Hydro Protocol Airdrop Review
There are several factors to consider when reviewing airdrops. First, there is a possibility that the project will conduct an airdrop in the first place. We will then look at how many tokens the project will allocate to the airdrop campaign and the difficulty of participating in the airdrop. It is also important to look at the utility of the token to ensure that it has an actual use and purpose when participating in the airdrop in the first place. Lastly, a factor to consider when reviewing an airdrop is whether a lock-up period applies to the airdropped tokens.
Airdrop possibilities: The Hydro Protocol airdrop is now live. They have already conducted two airdrops and the third, final and biggest one is on the way!
Airdropped token allocation: Hydro Protocol airdrop allocation is unknown. However, the team promised that this final airdrop will be the largest ever.
Airdrop Difficulty: The Hydro protocol airdrop requires participants to use the liquid staking feature natively in the protocol, which is not difficult. Plus, it’s only on the testnet so you won’t be using real money!
Token Utility: $HDRO tokens can be used for governance, value generation, staking rewards, and access to a variety of exclusive features and services on the platform.
Token Lockup: There is no information yet on $HDRO token lockup.
