Onboard Brale and Glo Dollar to Kusama AssetHub v2 - inc ability to create Kusama & Polkadot branded stablecoins
See full proposal here
Updates from v1.
— community have more familiarity with treasurer track.
— Kusama confirmation period now 48 hours rather than 3 hours post upgrade.
— corrected issue with a spend amount in one payment (2475 was 24755 in preimage).
— Brale technical integration expected to be 16 weeks rather than 12 weeks to give extra time for audits.
— more detail on opportunity to launch Kusama and Polkadot branded stablecoins in phase 2a/2b.
— addition of this graphic to explain phases.
Comments (5)
Proposal Failed
3
of 3Summary
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Aye
0%
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Aye (137)0.0 PAS
Support0.0 PAS
Nay (142)0.0 PAS
Comments (5)
How is the invoice data encoded in the remark? I tried to convert hex to ASCII but the result was meaningless.
Doing a bit of reverse engineering of the remark(nu:open remark | split chars | prepend ' ' | every 3 --skip | str join | decode hex) that wasn't submitted correctly as binary data, I arrived to the following text:
Date: 30/01/2024
Proposal to: Kusama common good fund
Summary: Onboard Brale and Glo Dollar to Kusama
Approval: Simple Majority
Read full proposal: https://rfc.decent.partners/t/onboard-brale-and-glodollar-to-kusama-assethub/57
Spend sent in parallel to three separate verified beneficiary accounts.
Scheduled as two payments:
- 50% paid out to addresses 1 block after confirmation.
- 50% paid out 1612800 blocks after confirmation (16 weeks).
Optimistic grant assumes core integration and launch functions are completed within 16 weeks.
Glo Consortium integrations and marketing are likely to continue beyond the 12 weeks.
Any issues will be reported at least 2 weeks ahead of scheduled payment due date.
Kusama governance retains oversight of second payment.
If necessary second payment can be rescheduled or cancelled.
Unused volatility buffer returned to treasury.
Beneficiary: Brale
Website: https://brale.xyz
Verified address: F9ob8GJg7CCMpUKrR6PJdS9tpgDBKSw4CWNjGpEPgahnTVJ
Responsibilities: Issuance, regulations, insurance, redemptions, custody, audits.
Grant: $125,000
Volatility buffer 10%: $12,500
Total: $137,500
Date: 2024-01-30
KSM EMA30: $40.00
Total KSM: 3438
Beneficiary: Glo Dollar
Website: https://glodollar.org
Verified address: Fy3bL9Qw8LUpQCvv8tsoWNQcH8onZggg2PYT7bdL5LbhDTn
Responsibilities: Marketing, market making, partnerships and integrations
Initial liquidity: $25k KSM and $25k USDGLO
Glo consortium integrations & announcements: $75k
Total grant: $125,000
Volatility buffer 10%: $12,500
Total: $137,500**
Date: 2024-01-30
KSM EMA30: $40.00
Total KSM: 3438
Total USD: $275,000
Total KSM: 6876
Beneficiary: Decent Partners
Website: https://decent.partners
VAT number: GB306867875
Verified address: FvrbaMus8iASyrQYkajQWDxsYvG5gb72PFPuvy8TvkFFVGn
Responsibilities: Research, strategy, business development, stakeholder relations, proposal development.
10% Network Service Fee (NSF): $25,000
+10% volatility buffer: $2,500
Total: $27,500
-- GBP: £21,750
-- VAT @ 20%: £4,350
-- Total GBP: £26,100
Total USD: $33,100
Date: 2024-01-30
KSM EMA30: $40.00
Total KSM: 828
Total spend to be approved:
Grants: $275,000 (inc volatility buffer)|
Network Services: $33,100 (inc VAT, volatility buffer)
Total: $308,100
Total KSM: 7704
How is the invoice data encoded in the remark? I tried to convert hex to ASCII but the result was meaningless.
Doing a bit of reverse engineering of the remark(nu:
open remark | split chars | prepend ' ' | every 3 --skip | str join | decode hex) that wasn't submitted correctly as binary data, I arrived to the following text: