# Proposal: whitelist HY - 100K BNT co-investment - push to snapshot **URL:** \ **Category:** DAO Archive (SUBMITTED)\ **Created:** [July 13, 2021, 9:53am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583 "2021-07-13T09:53:02Z")\ **Posts on this page:** 14\ **Page:** 1
**Author:** ![Agent725](https://avatars.discourse-cdn.com/v4/letter/a/65b543/32.png) [@Agent725](https://gov.bancor.network/u/Agent725)\ **Post date:** [July 13, 2021, 9:53am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/1 "2021-07-13T09:53:02Z")
# Proposal to Whitelist hybrix hydra (HY) (100K BNT co-investment) ## This proposal is expected to appear on Snapshot for voting on Monday 19th July 2021 at 12:00 pm UTC. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision. # TL;DR - Proposal to whitelist hybrix (HY). - Proposed co-investment is 100,000 BNT. - There are no apparent security concerns that would prohibit whitelist status. - There is no reason to doubt the legitimacy of the Hybrix project. - The benefit to Bancor is clear. ### Token Address: 0x9b53e429b0badd98ef7f01f03702986c516a5715 ### Project Website: [https://hybrix.io](https://hybrix.io) # Token Security HY does not have an elastic supply, or rebase mechanism. The hybrix contract does not have permissions that grant administrators unrestricted mint/burn capabilities. The HY token supply is fixed at 7,000,000, of which 2,295,344 are in current circulation. The contracts and addresses with the highest concentrations of HY tokens are the deployer supply pool, the Uniswap pairs, our largest crowdfund holders, one of the Biki wallets, the Balancer supply, and two of the team’s wallets. ![image](https://europe1.discourse-cdn.com/flex013/uploads/bancordao/original/2X/2/26f1976bd6508d7b0e138821aee43679bb01d951.jpeg) # Project The hybrix project provides a multi-ledger API and swapping mechanism. Hybrix is a distributed swapping network comprised of allocators that provides cross-ledger liquidity. The hybrix protocol enables one token to exist on multiple ledgers, which is called a unified asset. It is technically borderless, not restricted to a single distributed blockchain, DAG, or other digital ledger. # Tokenomics Hybrix’s native token, HY (ERC20), is required to participate in being part of the swap network as an allocator. Allocators utilize HY as a security reserve, ensuring that trades across ledgers cannot be front-run. HY does not need its own blockchain, and instead uses other chains to move value. Allocators must pay matcher nodes HY to get matching swaps on their pairs. Therefore, the HY token is a useful utility token, and not only a symbolic representation of the project. Our full and detailed tokenomics document is available on our website [https://hybrix.io](https://hybrix.io). # Community and Communication Hybrix is active on Reddit, Telegram, and Bitcointak. The hybrix team also operates official Twitter and Youtube accounts. Activity on Gitlab is frequent, and releases are done on Github, with new updates appearing every week. The development team and advisors are presented on the community part of the [hybrix.io](http://hybrix.io) website. Joachim de Koning is the project’s founder and main spokesperson. The hybrix project business development is done by hy.company, which is incorporated in the Netherlands. Mailing address: hybrix Keurenplein 41 unit E725 1069 CD Amsterdam the Netherlands Security email: [security@hybrix.io](mailto:security@hybrix.io) Technical support email: [support@hybrix.io](mailto:support@hybrix.io) Business queries: contact@hy.company Press email: [press@hybrix.io](mailto:press@hybrix.io) # Market and Trading Data - hybrix’s price at the time of writing is $2.16 - All-time high: $12.44 (17th April 2021) - All-time low: $0.33 (29th January, 2021) - Price 90 days ago: $1.63 - 2,295,344 tokens in circulation - 7,000,000 maximum supply. - The current market capitalization is $4,756,453. - The HY token is available on the following exchanges: Biki, Uniswap, Pancakeswap, - Luaswap, Balancer, Mooniswap, pDEX, TomoDEX - The 24-hour spot volume is on average: $10k # Token Audit We have no token audit, as our Ethereum contract is standard ERC20, with no added bells and whistles. Our cross-chain swapping mechanism is written in hybrix scripting language Qrtz, and available in our repository. All code is open source, and our contract has been verified on Etherscan. # Benefits to Bancor Whitelisting hybrix with a 100k BNT co-investment would make Bancor the deepest pool of hybrix. Since we list almost solely on decentralized exchanges we expect this listing to generate a considerable amount of volume and publicity for Bancor. Aside from that we will make BNT swappable to other currencies cross-chain in the hybrix ecosystem. # Voter Incentives We would be honored and glad if you would vote for our project. For three of those who vote, we will be sending you a hybrix T-shirt, and we will select one person to receive a hybrix hardware node that can be plugged in to run your own secure hybrix ecosystem. Winners will be selected at random from all those who voted, regardless of whether the vote was positive or negative. ---
**Author:** ![tenzent](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/tenzent/32/1821_2.png) [@tenzent](https://gov.bancor.network/u/tenzent)\ **Post date:** [July 13, 2021, 8:02pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/2 "2021-07-13T20:02:51Z")
Very interesting all around ! would love to know does your wallet work like MM Swaps ? do you guys aggregate routers and if so would bancor be able to be added through our APIs ? Either way looks good. ---
**Author:** ![lebahye](https://avatars.discourse-cdn.com/v4/letter/l/ea666f/32.png) [@lebahye](https://gov.bancor.network/u/lebahye)\ **Post date:** [July 13, 2021, 10:58pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/3 "2021-07-13T22:58:54Z")
I vote to approve this project. ---
**Author:** ![Agent725](https://avatars.discourse-cdn.com/v4/letter/a/65b543/32.png) [@Agent725](https://gov.bancor.network/u/Agent725)\ **Post date:** [July 14, 2021, 6:32am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/4 "2021-07-14T06:32:20Z")
We do not aggregate. Instead hybrix works by letting individuals create their own pairs (or triples, etc.) for swapping, and makes those available in parallel to users that want to swap assets. The MM is currently set to make available 15% of an allocator’s total liquidity amount per swap. We want to make this user configurable soon. We can add support for Bancor to make it swappable to other currencies. Using the APIs would be a challenge, as Bancor is currently designed to work on one chain. Perhaps we could take a look at expanding it to other Ethereum-like chains and then linking them through their LP tokens. This would require some experimentation first. ---
**Author:** ![hybrixan](https://avatars.discourse-cdn.com/v4/letter/h/71c47a/32.png) [@hybrixan](https://gov.bancor.network/u/hybrixan)\ **Post date:** [July 14, 2021, 11:07am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/5 "2021-07-14T11:07:57Z")
I vote to uphold this co-operation which is fruitful for HY and BNT ---
**Author:** ![Garryt](https://avatars.discourse-cdn.com/v4/letter/g/7cd45c/32.png) [@Garryt](https://gov.bancor.network/u/Garryt)\ **Post date:** [July 14, 2021, 12:01pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/6 "2021-07-14T12:01:27Z")
Freedom of transactions:Technically borderless cross-ledger platform hybrix unites all blockchains. Swap, store, build, explore and transfer across a myriad of different blockchains all at once. This project is a GOD SEND for the future of crypto. It is without doubt a project that gets my full approval. ---
**Author:** ![glenn](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/glenn/32/1720_2.png) [@glenn](https://gov.bancor.network/u/glenn)\ **Post date:** [July 16, 2021, 3:37am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/7 "2021-07-16T03:37:50Z")
Interesting concept, is my understanding correct that the individuals that create the pairs also have to supply the liquidity for those tokens? Perhaps it is easier if we go through an example: 1. I have a hybrix wallet created and deposit zcash that lives in the waves blockchain. 2. Your wallet will then allow me to swap my waves:zcash to any other asset in another blockchain that you [support](https://hybrix.io/en/docs/supported-crypto-assets)? 3. Say I am interested in swapping the waves:zcash to eth:bnt. What happens behind the scenes to make this possible? Do you swap the waves:zcash to some common asset (e.g. USDT)? Once you have USDT, is it then just a matter of swapping that over to BNT using a network of CEXex/DEXes? ---
**Author:** ![Agent725](https://avatars.discourse-cdn.com/v4/letter/a/65b543/32.png) [@Agent725](https://gov.bancor.network/u/Agent725)\ **Post date:** [July 16, 2021, 7:10am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/8 "2021-07-16T07:10:58Z")
Our wallet is basically an application built on the hybrix platform. This platform indeed allows you to swap value between supported crypto’s, native currencies as well as tokens. Currently there is no allocator providing liquidity for WAVES.ZEC → ETH.BNT, but if there was, you would indeed be able to swap from WAVES.ZEC to ETH.BNT. Behind the scenes the swap system is a network of liquidity allocators that provide pairs (or triples, or quadruples) that users can swap between. Allocator keys are offset-derived from their base seeds/privkeys, and these derived keypairs are sequestrated to a matcher that brings together swappers and allocators. The wallet private keys of users thus never need to be stored or sent over the network. To avoid front-running, the allocator must also provide security collateral that can be used to repay the swapper in case a succesfull front-run attempt on the swap is made. The collateral is returned to the allocator after the swap is made. ---
**Author:** ![lebahye](https://avatars.discourse-cdn.com/v4/letter/l/ea666f/32.png) [@lebahye](https://gov.bancor.network/u/lebahye)\ **Post date:** [July 16, 2021, 8:57am UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/9 "2021-07-16T08:57:37Z")
No, as long as there is an allocator providing the pair you are interested in swapping the matcher engine will perform the swap. We do not need to swap to common asset such as USDT. Hope this helps. ---
**Author:** ![glenn](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/glenn/32/1720_2.png) [@glenn](https://gov.bancor.network/u/glenn)\ **Post date:** [July 16, 2021, 5:44pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/10 "2021-07-16T17:44:26Z")
> [@Agent725](#): > > Behind the scenes the swap system is a network of liquidity allocators that provide pairs (or triples, or quadruples) that users can swap between. I see, so this relies on allocators to actually provide liquidity for the pairs that users can swap between. Thanks, this answer my question. > [@lebahye](#): > > No, as long as there is an allocator providing the pair you are interested in swapping the matcher engine will perform the swap. In my example, there would need to be an allocator that is providing liquidity to the waves:zcash-eth:bnt pair for a user to be able to swap between these assets? ---
**Author:** ![lebahye](https://avatars.discourse-cdn.com/v4/letter/l/ea666f/32.png) [@lebahye](https://gov.bancor.network/u/lebahye)\ **Post date:** [July 16, 2021, 5:58pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/11 "2021-07-16T17:58:32Z")
Yes, 100%. This can be any combination of tokens. There is not limit for the Hybrix wallet. Currently we support 29 blockchains and 411 tokens. ---
**Author:** ![glenn](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/glenn/32/1720_2.png) [@glenn](https://gov.bancor.network/u/glenn)\ **Post date:** [July 16, 2021, 6:27pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/12 "2021-07-16T18:27:00Z")
I see, I am sure you guys are already thinking about this but it would be kind of cool if Hybrix could tap into the liquidity of the different decentralized exchanges across different blockchains. I think this would open up a slew of possibilities for your wallet and attract users as well. ---
**Author:** ![tenzent](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/tenzent/32/1821_2.png) [@tenzent](https://gov.bancor.network/u/tenzent)\ **Post date:** [July 16, 2021, 6:29pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/13 "2021-07-16T18:29:44Z")
100% with Glenn, if bancor could incorporate somehow It would be incredibly cool. Either way you sers have my vote. ---
**Author:** ![mbr](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.bancor.network/mbr/32/3021_2.png) [@mbr](https://gov.bancor.network/u/mbr)\ **Post date:** [July 19, 2021, 3:38pm UTC](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583/14 "2021-07-19T15:38:15Z")
Closed on July 19, 2021, 3:38pm UTC