From 137689f6ea54574ba652813fade05907abef000a Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 2 Oct 2025 15:11:36 +0200 Subject: [PATCH 1/6] CP170: Hydration Liq Withdrawal --- cps/CP170.md | 41 +++++++++++++++++++++++++++++++++++++++++ 1 file changed, 41 insertions(+) create mode 100644 cps/CP170.md diff --git a/cps/CP170.md b/cps/CP170.md new file mode 100644 index 0000000..f9bc0c8 --- /dev/null +++ b/cps/CP170.md @@ -0,0 +1,41 @@ +--- +cp: 170 +authors: Frederik +contributors: ImdioR +uses-component: cp4 +technical-proposal: yes +requires-onchain: yes +impacts/modifies: CP53, CP102 +status: rfc +date-proposed: [2025-10-02 +date-ended: +--- + + +## Short Summary +This RFC proposes withdrawing the Centrifuge DAO’s 1,276,162 CFG liquidity from Hydration’s Omnipool. + +## High level objective +This proposal aims to recover the 1,276,162 CFG locked in Hydration’s Omnipool, protecting Centrifuge DAO’s assets and transferring them to Centrifuge DAO Treasury. + +## Background +Centrifuge has supported cross-chain liquidity to enhance the accessibility and utility of its governance token, CFG, within the Polkadot ecosystem. To this end, the Centrifuge DAO provided significant liquidity to the Hydration Protocol (formerly HydraDX) through two governance proposals: +CP53: Deposited 540,000 CFG into the Hydration Omnipool to boost on-chain liquidity for CFG. Link to CP53 +CP102: Added 710,000 CFG, totaling 1,250,000 CFG ($595,000 at the time), to further enhance liquidity, with the DAO retaining control over the tokens. Link to CP102 +The goal was to increase CFG’s liquidity, enabling token holders to buy and sell CFG easily while earning trading fees for the DAO. Over 2 years and 2 months, the Centrifuge DAO’s liquidity position grew to 1,276,162 CFG (~$229,438 at $0.18 per CFG), earning only 26,162 CFG in trading fees, which significantly underperformed the declared performance in CP53 and CP102. + +On July 2nd, Hydration’s Technical Council unilaterally suspended CFG trading, as was post facto announced on X ( https://x.com/hydration_net/status/1940429154987471196) and voted on via Subsquare( https://hydration.subsquare.io/techcomm/proposals/230), without prior communication with the Centrifuge DAO. + +## Description of Activity + +This RFC proposes the immediate withdrawal of the Centrifuge DAO’s 1,276,162 CFG from Hydration’s Omnipool and the reallocation of these assets to the Centrifuge DAO Treasury. +Actions: + - Execute the technical process to withdraw the CFG liquidity, ensuring the DAO regains control of the full 1,276,162 CFG. + + +## Change or improvement +- Recover DAO Assets: Return 1,276,162 CFG to the Centrifuge DAO Treasury + + +## Alignment to the mission of Centrifuge DAO +Centrifuge’s mission is to bridge real-world assets to DeFi through a transparent and accessible protocol. Withdrawing 1,276,162 CFG from Hydration, where CFG trading is suspended, protects Centrifuge DAO assets. From 463af7da131f7d4b4ef3d5f7ec2778b9ca05be0d Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 2 Oct 2025 15:12:32 +0200 Subject: [PATCH 2/6] fix --- cps/CP170.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/cps/CP170.md b/cps/CP170.md index f9bc0c8..7ba548e 100644 --- a/cps/CP170.md +++ b/cps/CP170.md @@ -7,7 +7,7 @@ technical-proposal: yes requires-onchain: yes impacts/modifies: CP53, CP102 status: rfc -date-proposed: [2025-10-02 +date-proposed: 2025-10-02 date-ended: --- From 03f3d9cc8c616290fa657f1a01b21187cca7def5 Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 2 Oct 2025 15:13:38 +0200 Subject: [PATCH 3/6] fix1 --- cps/CP170.md | 5 ++--- 1 file changed, 2 insertions(+), 3 deletions(-) diff --git a/cps/CP170.md b/cps/CP170.md index 7ba548e..73e454e 100644 --- a/cps/CP170.md +++ b/cps/CP170.md @@ -11,7 +11,6 @@ date-proposed: 2025-10-02 date-ended: --- - ## Short Summary This RFC proposes withdrawing the Centrifuge DAO’s 1,276,162 CFG liquidity from Hydration’s Omnipool. @@ -29,9 +28,9 @@ On July 2nd, Hydration’s Technical Council unilaterally suspended CFG trading, ## Description of Activity This RFC proposes the immediate withdrawal of the Centrifuge DAO’s 1,276,162 CFG from Hydration’s Omnipool and the reallocation of these assets to the Centrifuge DAO Treasury. -Actions: - - Execute the technical process to withdraw the CFG liquidity, ensuring the DAO regains control of the full 1,276,162 CFG. +**Actions:** +- Execute the technical process to withdraw the CFG liquidity, ensuring the DAO regains control of the full 1,276,162 CFG. ## Change or improvement - Recover DAO Assets: Return 1,276,162 CFG to the Centrifuge DAO Treasury From 07c18dbb9e905f942e002c345093745e3176334a Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 2 Oct 2025 15:24:11 +0200 Subject: [PATCH 4/6] link fixing --- cps/CP170.md | 14 +++++++------- 1 file changed, 7 insertions(+), 7 deletions(-) diff --git a/cps/CP170.md b/cps/CP170.md index 73e454e..b6895be 100644 --- a/cps/CP170.md +++ b/cps/CP170.md @@ -19,22 +19,22 @@ This proposal aims to recover the 1,276,162 CFG locked in Hydration’s Omnipool ## Background Centrifuge has supported cross-chain liquidity to enhance the accessibility and utility of its governance token, CFG, within the Polkadot ecosystem. To this end, the Centrifuge DAO provided significant liquidity to the Hydration Protocol (formerly HydraDX) through two governance proposals: -CP53: Deposited 540,000 CFG into the Hydration Omnipool to boost on-chain liquidity for CFG. Link to CP53 -CP102: Added 710,000 CFG, totaling 1,250,000 CFG ($595,000 at the time), to further enhance liquidity, with the DAO retaining control over the tokens. Link to CP102 -The goal was to increase CFG’s liquidity, enabling token holders to buy and sell CFG easily while earning trading fees for the DAO. Over 2 years and 2 months, the Centrifuge DAO’s liquidity position grew to 1,276,162 CFG (~$229,438 at $0.18 per CFG), earning only 26,162 CFG in trading fees, which significantly underperformed the declared performance in CP53 and CP102. +CP53: Deposited 540,000 CFG into the Hydration Omnipool to boost on-chain liquidity for CFG ( [link](https://github.com/centrifuge/cps/blob/main/cps/CP53.md) ) +CP102: Added 710,000 CFG, totaling 1,250,000 CFG ($595,000 at the time), to further enhance liquidity, with the DAO retaining control over the tokens ( [link](https://github.com/centrifuge/cps/blob/main/cps/CP102.md) ) +The goal was to increase CFG’s liquidity, enabling token holders to buy and sell CFG easily while earning trading fees for the DAO. Over 2 years and 2 months, the Centrifuge DAO’s liquidity position grew to 1,276,162 CFG ( from intial allocation of 1,250,000 CFG), earning only 26,162 CFG in trading fees, which significantly underperformed the declared performance in CP53 and CP102. -On July 2nd, Hydration’s Technical Council unilaterally suspended CFG trading, as was post facto announced on X ( https://x.com/hydration_net/status/1940429154987471196) and voted on via Subsquare( https://hydration.subsquare.io/techcomm/proposals/230), without prior communication with the Centrifuge DAO. +On July 2nd, Hydration’s Technical Council unilaterally suspended CFG trading, as was post facto announced on [X](https://x.com/hydration_net/status/1940429154987471196) and voted on via [Subsquare](https://hydration.subsquare.io/techcomm/proposals/230), without prior communication with the Centrifuge DAO. ## Description of Activity -This RFC proposes the immediate withdrawal of the Centrifuge DAO’s 1,276,162 CFG from Hydration’s Omnipool and the reallocation of these assets to the Centrifuge DAO Treasury. +This RFC proposes the immediate withdrawal of the Centrifuge DAO’s 1,276,162 CFG from Hydration’s Omnipool and the reallocation of these assets to the Centrifuge DAO Treasury wallet `4dpEcgqJRyJK3J8Es6v8ZfVntV7c64Ysgcjd4hYwyGoFPWbg`. **Actions:** - Execute the technical process to withdraw the CFG liquidity, ensuring the DAO regains control of the full 1,276,162 CFG. ## Change or improvement -- Recover DAO Assets: Return 1,276,162 CFG to the Centrifuge DAO Treasury +- Recover DAO Assets: Return 1,276,162 CFG to the Centrifuge DAO Treasury ## Alignment to the mission of Centrifuge DAO -Centrifuge’s mission is to bridge real-world assets to DeFi through a transparent and accessible protocol. Withdrawing 1,276,162 CFG from Hydration, where CFG trading is suspended, protects Centrifuge DAO assets. +Centrifuge’s mission is to connect real-world assets to DeFi through a transparent and accessible protocol. The initial liquidity provided by the CFG DAO to Omnipool was meant to kickstart trading and ensure deep liquidity. Now that trading has been discontinued, withdrawing 1,276,162 CFG from Omnipool where CFG trading was suspended is a way to protectsrd Centrifuge DAO’s assets. \ No newline at end of file From d5214711db7e06567ec9a7ae036d76afbace855d Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 2 Oct 2025 15:25:06 +0200 Subject: [PATCH 5/6] small edits --- cps/CP170.md | 6 +++++- 1 file changed, 5 insertions(+), 1 deletion(-) diff --git a/cps/CP170.md b/cps/CP170.md index b6895be..57b5d3f 100644 --- a/cps/CP170.md +++ b/cps/CP170.md @@ -21,7 +21,11 @@ This proposal aims to recover the 1,276,162 CFG locked in Hydration’s Omnipool Centrifuge has supported cross-chain liquidity to enhance the accessibility and utility of its governance token, CFG, within the Polkadot ecosystem. To this end, the Centrifuge DAO provided significant liquidity to the Hydration Protocol (formerly HydraDX) through two governance proposals: CP53: Deposited 540,000 CFG into the Hydration Omnipool to boost on-chain liquidity for CFG ( [link](https://github.com/centrifuge/cps/blob/main/cps/CP53.md) ) CP102: Added 710,000 CFG, totaling 1,250,000 CFG ($595,000 at the time), to further enhance liquidity, with the DAO retaining control over the tokens ( [link](https://github.com/centrifuge/cps/blob/main/cps/CP102.md) ) -The goal was to increase CFG’s liquidity, enabling token holders to buy and sell CFG easily while earning trading fees for the DAO. Over 2 years and 2 months, the Centrifuge DAO’s liquidity position grew to 1,276,162 CFG ( from intial allocation of 1,250,000 CFG), earning only 26,162 CFG in trading fees, which significantly underperformed the declared performance in CP53 and CP102. + + +The goal was to increase CFG’s liquidity, enabling token holders to buy and sell CFG easily while earning trading fees for the DAO. + +Over 2 years and 2 months, the Centrifuge DAO’s liquidity position grew to 1,276,162 CFG ( from intial allocation of 1,250,000 CFG), earning only 26,162 CFG in trading fees, which significantly underperformed the declared performance in CP53 and CP102. On July 2nd, Hydration’s Technical Council unilaterally suspended CFG trading, as was post facto announced on [X](https://x.com/hydration_net/status/1940429154987471196) and voted on via [Subsquare](https://hydration.subsquare.io/techcomm/proposals/230), without prior communication with the Centrifuge DAO. From 1bf3dd8578be7d93ab40bd4ef86b698bd21af274 Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 2 Oct 2025 15:26:30 +0200 Subject: [PATCH 6/6] typo --- cps/CP170.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/cps/CP170.md b/cps/CP170.md index 57b5d3f..dea95c4 100644 --- a/cps/CP170.md +++ b/cps/CP170.md @@ -41,4 +41,4 @@ This RFC proposes the immediate withdrawal of the Centrifuge DAO’s 1,276,162 C ## Alignment to the mission of Centrifuge DAO -Centrifuge’s mission is to connect real-world assets to DeFi through a transparent and accessible protocol. The initial liquidity provided by the CFG DAO to Omnipool was meant to kickstart trading and ensure deep liquidity. Now that trading has been discontinued, withdrawing 1,276,162 CFG from Omnipool where CFG trading was suspended is a way to protectsrd Centrifuge DAO’s assets. \ No newline at end of file +Centrifuge’s mission is to connect real-world assets to DeFi through a transparent and accessible protocol. The initial liquidity provided by the CFG DAO to Omnipool was meant to kickstart trading and ensure deep liquidity. Now that trading has been discontinued, withdrawing 1,276,162 CFG from Omnipool where CFG trading was suspended is a way to protects Centrifuge DAO’s assets. \ No newline at end of file