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Hydro Protocol

HOT

Price
$0.0020
9/25/2022, 1:33:38 AM
diamondHands

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Market

Market stats

Market cap

$1.4M

Volume (24h)

$29,859.92

Circulating supply

702.0M HOT

All time high

$0.29

Price change (1h)

+0.13%

Price change (24h)

+0.07%

Price change (7d)

-3.53%

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Hydro Protocol is on the decline this week.

The price of Hydro Protocol has fallen by 3.53% in the past 7 days. The price increased by 0.07% in the last 24 hours. In just the past hour, the price grew by 0.13%. The current price is $0.002047 per HOT. Hydro Protocol is 99.29% below the all time high of $0.29.

The current circulating supply is 702,000,000 HOT.

About

What is Hydro Protocol (HOT)?

Hydro (HOT) is an open-source protocol that allows developers to create decentralized exchanges or DEXs. This framework aims to provide DeFi developers with a simple platform without the hassles and costs of developing, implementing, and securing smart contracts. Further, traders use the DEX built on the Hydro platform utilizing smart contracts. In a broader sense, the Hydro project comprises a collection of open-access smart contracts and modules for building ERC20 token exchange capability that is efficient, quick, and safe.

According to the official document of the platform, Hydro seeks to make it possible to provide a framework for exchanges to build on through the use of smart contracts. Smart contracts are similar to regular paper contracts but deployed on a blockchain as protocols. The framework emphasizes liquidity; having named it Hydro, this protocol aims to offer frictionless trading. The Hydro smart contracts are also multichain compatible, allowing developers to utilize possibilities across a range of blockchains.

Importantly, the protocol seeks to enable Hydro relayers, which are the DEXs built on the platform, to collect fees as a proportion of the tokens being exchanged without the use of third-party tokens. As a result of this feature, the relayers seek to receive unlimited flexibility with no token holding constraints or token costs. Moreover, the platform states that Hydro aims to enable even established platforms to transfer their liquidity to a decentralized market. Hydro creates single-sided and multi-sided marketplaces for lending protocols, predictions markets, and a variety of other DeFi applications.

The native token of the Hydro protocol is HOT. The platform states that Hydro relayers benefit primarily from trading fees as well as the ‘Hydro protocol economic incentives,’ a voluntary scheme. Thereby, HOT tokens are automatically distributed to relayers who engage in the Hydro economics according to the number of exchanges they make. With regards to the optional incentive structure based on the HOT token, the protocol seeks to allow traders who possess the HOT token to trade at a lesser amount.

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FAQ

What is the current price of Hydro Protocol?

The price of 1 Hydro Protocol currently costs $0.0020.

What is the market cap of Hydro Protocol?

The current market cap of Hydro Protocol is $1.44M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Hydro Protocol?

The all-time high of Hydro Protocol is $0.29. This all-time high is highest price paid for Hydro Protocol since it was launched.

What is the 24 hour trading volume of Hydro Protocol?

Over the last 24 hours, the trading volume of Hydro Protocol is $29.86K.

What other assets are similar to Hydro Protocol?

Assets that have a similar market cap to Hydro Protocol include DOC.COM, ALLY, My DeFi Pet, and many others. To see a full list, see our comparable market cap assets.

How many Hydro Protocol are there?

The current circulating supply of Hydro Protocol is 702 million.

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