Hydration (HDX): What It Is, Uses and Risks

Hydration is a DeFi project on Polkadot. Public material describes it as a parachain focused on trading, lending and stablecoin issuance. The project was formerly known as HydraDX and has rebranded to Hydration while keeping the HDX ticker. Its core pieces are a decentralised exchange, a lending market and HOLLAR, a stablecoin issued within the system. The project's documentation describes depositing funds from Ethereum and then using them for DeFi activity on the Hydration chain. Our site groups HDX under DEX, DeFi, Layer 1 and exchange token categories, which describes how the token is classified rather than confirming it is a standalone base chain. Details on the launch date and consensus method were not in the data used for this page, so they are left out.

According to the project's documentation, HDX holders can earn protocol rewards, vote in governance and borrow HOLLAR. Governance lets token holders take part in decisions about how the protocol is run, though the exact scope of voting should be checked in the official docs. Rewards depend on how the protocol distributes incentives, and those rules can change over time. Borrowing HOLLAR means taking out the stablecoin against collateral, and the collateral and loan terms are set by the protocol. Holding HDX does not guarantee any yield. The data used here did not cover other roles for the token, such as fee or staking uses, so this page does not describe them.

As of 2026-11-05, our data showed a price of about $0.0072 and a market capitalisation of about $42.5 million, ranked 506th by market cap. Circulating supply was about 5.92 billion HDX, total supply about 6.42 billion and maximum supply 6.5 billion. Fully diluted value was about $46.1 million. Trading volume over 24 hours was about $17,010, which is thin for a token of this size and means prices can move sharply on small trades. Over seven days the price fell about 1.8 percent, and over one year it rose about 24 percent. The all-time high was about $0.0544 on 2026-04-07 and the all-time low about $0.00136 on 2026-05-29. Public reporting mentions unlock and vesting schedules, but the schedule details were not available, so we cannot say how much supply will enter circulation. These figures change constantly and are not predictions.

Price swings in HDX have been large, as the gap between its all-time high and low shows. Low trading volume can make it harder to exit a position at a stable price. DeFi protocols carry smart contract risk, so bugs or exploits in the exchange, lending market or stablecoin system could lead to losses. Borrowing against collateral can lead to liquidation if prices move against a position. HOLLAR's peg to its target value is not guaranteed. Future token unlocks may add supply and affect price. To store HDX, use a wallet that supports the Polkadot ecosystem, keep your recovery phrase offline and never share it, and check addresses carefully before sending. Review the official Hydration documentation and do your own research. This page is not financial advice.