This on-chain proposal is for Project Gweihir. [**All details of the project can be found here**](https://docs.google.com/document/d/1zcD9WJbxp5wqw3rTYHmJHjGBSqytFmnBUeY0RvC-2Rg/edit?usp=sharing). In short, we would like to build an open-source Chainlink external adapter for Kusama chaindata and a proof-of-concept dApp. This infrastructure will allow smart contracts on Ethereum to use Kusama chaindata.

Previous discussion and context [**can be found here**](https://kusama.polkassembly.io/post/2028).

We are asking for ~2,811 KSM = ~$83,000 using EMA14 on Kraken. We came to this number by taking the weighted average price of all KSM-USD trades on Kraken from December 1st, 2022 at 18:00 UTC to December 15th, 2022 at 18:00 UTC (13,274 data points).  That came out to a KSM price of ~$29.73 USD. This EMA14 figure can be verified using [**Kraken's API**](https://api.kraken.com/0/public/Trades?pair=KSMUSD&since=1669917600000000000).

We chose enactment at block #16000000 to put this in the tax year of 2023.

Thanks for all the support and feedback!

Adam Steeber
CTO - Steeber Solutions LLC

p.s. though some UIs say that medium spender can only spend up to 500 KSM, this figure was increased to 3,333 KSM in v0934 [**when the `QUID` unit increased by 10x**](https://github.com/paritytech/polkadot/blob/release-v0.9.34/runtime/kusama/constants/src/lib.rs#L29).

Propose and approve a spend of treasury funds.

- `origin`: Must be `SpendOrigin` with the `Success` value being at least `amount`.
- `amount`: The amount to be transferred from the treasury to the `beneficiary`.
- `beneficiary`: The destination account for the transfer.

NOTE: For record-keeping purposes, the proposer is deemed to be equivalent to the
beneficiary.

- They want to build something called Project Gweihir.
- They want to make it easier for smart contracts on Ethereum to use Kusama chaindata.
- They are asking for about 2,811 KSM, which is about $83,000.
- They want to do this in the tax year of 2023.
- They have increased the amount of KSM that can be spent.

#28 Project Gweihir, a Chainlink external adapter for Kusama chain data.

No Active Proposals