Hydranet to Launch New Token Following DAO Vote Approval

April 12, 2025 — Decentralized trading infrastructure project Hydranet is transitioning to a new token following the successful passage of DAO vote #34, aiming to resolve long-standing issues with token visibility on analytics platforms and improve investor perception.

The transition involves a 1:1 token replacement, where existing HDN holders will automatically receive the new token via airdrop. The token swap comes as part of Hydranet’s broader effort to eliminate technical limitations tied to its current proxy contract, which the team says has led to misleading warnings and limited functionality on platforms like CoinMarketCap.

Why the Token Swap?

Hydranet’s current token was originally deployed using a proxy contract, a standard method in the Ethereum ecosystem used by well-known projects such as Arbitrum (ARB). However, Hydranet says that for less established projects, proxy contracts can trigger warning flags on token analytics tools — negatively impacting credibility and discoverability.

“This has created a poor first impression among new investors, even though the token functions perfectly well,” the team explained in its update. By moving to a non-proxy ERC-20 contract, Hydranet hopes to remove these visibility barriers, build greater trust, and present a more polished token profile as it expands its user base and product offering.

What Changes for HDN Holders?

For most users, nothing needs to be done:

• A snapshot of token holdings will be taken on April 13.
• New HDN tokens will be airdropped automatically on April 14, replacing the old tokens on a 1:1 ratio.
• Wallet holders on centralized exchanges (MEXC, XT, WhiteBit) will also receive the new token automatically, with deposits and withdrawals temporarily paused during the transition.

Important: The new token is not an additional airdrop. It’s a of the existing HDN token.