Cosmos launches cross-chain auction platform Hydro

Cosmos announced the launch of the cross-chain auction platform Hydro, which is a bidding and governance platform for efficiently deploying liquidity in cross-chain ecosystems. Hydro draws inspiration from the Curve wars on Ethereum and applies similar patterns to enhance governance and strategic liquidity provision. Hydro will enable Cosmos Hub and other projects to leverage the demand for adding liquidity of ATOM and other tokens from other projects to their systems. Hydro provides key functionalities 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" and through a series of regular auctions, grant them influence over fund allocation decisions.