# 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:** 1\ **Showing post:** 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. --- _[View the full topic](https://gov.bancor.network/t/proposal-whitelist-hy-100k-bnt-co-investment-push-to-snapshot/2583)._