Hydra - 5 triggers for 2022
In his second labour, Hercules encountered the Hydra, a monster with multiple heads. To his despair, for every new head of the Hydra he chopped off, two new heads appeared, making his efforts to defeat the monster work against him. Only by burning the freshly decapitated wounds of the Hydra could he prevent its exponential growth and ultimately defeat the beast.'
In crypto, Hydra is a lightning fast blockchain and Proof of stake coin. Through the magic of compounding interest it can easily reach as much as 70-80% yield per year, growing new coins in rapid pace in the same way as the Learnian Hydra of the myth.
In the same way Hercules managed to contain the Hydra through fire, Hydra contains its inflation through a burn mechanism as a deflationary measure, enabling a burn of up to 100% of the transaction fees.
So why has Hydra just taken a dip recently?
We saw a price dump of Hydra post the last vote that affected Locktrip holders – not opening that can of worms in this video.
Here are some of the major triggers we will see for Hydra during 2022:
Before we start, the triggers don’t guarantee a price Hike for hydra, but they are sure to lead to more activity on the Hydra blockchain
With that out of the way, lets go:
1 - Number one, The end of the LOC – Hydra airdrop. When the Hydra blockchain was first built, it was funded by LOC token holders. These holders would then later be compensated through generous Hydra airdrops. It was later revealed that airdropped hydra had been sold by these LOC holders to purchase further LOC tokens, for them to get even more airdropped hydra. It was determined this was hurting the Hydra ecosystem and dumping the price. And you might understand that it was pretty discouraging for Hydra holders to see how the price of their coin tanked meanwhile LOC holders wrote things about how they bought their new lambos and houses with their airdrops. This has been blamed for Hydras price dip, and as one might imagine cancelling the airdrop also angered a lot of LOC holders. Their reasoning was of that “Am I a bad person for selling the profits of my investment?” By x date the last airdrop will be sent and no more Hydra Coins will be dumped on the chain, hopefully signaling the end of the price suppression.
2 – The bridge between Ethereum and Hydra will be completed enabling the inflow of capital from the massive Ethereum blockchain. The bridge will be created between the ETH and ERC-20 token browser wallet Metamask and the Hydra Extension Wallet. This will likely generate more transactions of Hydra burning more Hydra coins and seeing more influx of capital.
3 – The various tokens that are likely to enter the Hydra blockchain. We will see future action on the hydra blockchain when these tokens enter the Hydra ecosystem.
The GoMeat listing on various exchanges. Its currently unknown when this will occur but surely these listings will generate more transactions on the Hydra blockchain and thus also creating more coin burn and price fluctuations.
4 – The enabling of delegated staking. Currently, creating your own node rather than staking on KuCoin requires a small fortune to achieve desired results. Allowing users to delegate their staking will benefit the decentralization of the network, as well as the overall profitability, as having users move away from Kucoin will award them more staking rewards as well as reducing the risk of them selling their staking profits directly on the exchange.
5 – Blocktime reduction – This will reduce the time 128 seconds down to 32 seconds, in other words, cutting it down by a factor of four. This will in practical terms reduce the amount of luck needed for node holders, while it previously was recommended to hold 800 Hydra for a single node it will only require 200 Hydra.
Those are my top 5 triggers for Hydra in 2022. See the video below on youtube for the full content:
