Add HDX to Interlay DEX and Lending markets

Although the HydraDX Omnipool is the largest source of liquidity for INTR and iBTC, HDX is not yet tradeable on Interlay’s DEX. Additionally, there are no lending markets for HDX anywhere. Therefore since Interlay already has money market functionality available, we seek to list HDX on Interlay’s lending market to capture those possible fees from borrowing and lending HDX tokens.

This proposal will:

• register HydraDX’s HDX token on the Interlay chain. (enables paying fees in HDX)
• add HDX to the Interlay DEX (as HDX-INTR pair)
• create a money market for lending and borrowing HDX

Settings for the HDX lending market:

• You will be able to take out loans against HDX collateral at a “Loan to Value” of 54%. Over time if the value of your loan vs collateral rises to 83% then the collateral will be liquidated.
• The lending market targets an optimal utilization of 80%. It will start with a borrowing rate of 0.5% with the borrowing rate slowly increasing to 4.5% once 80% of the loaned HDX is borrowed. Above that, the borrowing rate quickly increases to 50% APR if 100% of the available HDX is borrowed.
• Overall the HDX money market has a cap of $1M.

This proposal DOES NOT allocate any INTR rewards for either the DEX LP or the lending market.
This proposal DOES NOT enable HDX use for vault collateral. The community seemed split, so we will create a separate proposal later for that so that the community can separately vote on it.

Due to the Interlay team focusing on building the “Build on Bitcoin” (BOB) Bitcoin L2, they don’t have the bandwidth to handle this proposal themselves. Therefore Greg and InternalError wrote scripts and a guide to creating governance proposals, with the incentive of successful proposals being paid for by the Interlay treasury. Therefore this governance proposal will also reimburse me 13 hrs x $100/hr = $1300 in Interlay tokens. This is only paid if the entire proposal successfully executes.

Proposal guide: https://interlay.notion.site/Registering-new-token-using-script-139015d02fb34fd38d078fdf3e8d1f94

Many thanks to Jose.Crypto for pushing forward this process. And thanks to Greg, Sander, and InternalError for their support in figuring out how to start this process.