Cosmos launches cross-chain auction platform Hydro

On May 22, Cosmos announced the launch of Hydro, a cross-chain auction platform, which is a bidding and governance platform for efficient deployment of liquidity in cross-chain ecosystems. Hydro borrows from Curve wars on Ethereum, applying a similar model to enhance governance and strategic liquidity provision. Hydro will enable Cosmos Hub and other projects to capitalize on the need from other projects to add liquidity of ATOM and other tokens to their systems. Hydro provides key features such as token locking, voting rights, bidding rules, voting rules and fund allocation rules. Native token holders lock their tokens on the platform in exchange for “Hydro Locked Tokens”, granting them influence over fund allocation decisions through a series of periodic auctions.