@Adam_Clay_Steeber 

Gm Adam, thanks for your thoughtful response.

Did you seriously just copy pasta the same proposal that got rejected before? I'm not going to waste my time reiterating my points from last time.

No, it's a completely new version, version 3.

As a newly minted Decentralized Voices delegate we're assuming you took your responsibility seriously and took the time to click the link to review the proposal before commenting.

If for some reason you didn't, here are the changes:

This is now just a simple integration with Brale, enabling the issuance and management of branded stablecoins on Asset Hub - what you might call a new 'common good feature' in the ecosystem.

• Focus on Brale integration to reduce complexity - leading to...

• Removal of Glo Dollar and therefore,

• No market making

• No marketing

• 50% reduction in spending.

• To aid understanding, we've also changed the format of the proposal, there is now a series of slides, rather than just a wall of text.

• The calls to cancel the second scheduled payments are included in the proposal.

• Lots of other tweaks to the copy.

It might be useful for you to check your previous comments against version 3.

Please note you can track all the changes across the three versions using this useful button.

.

Here's some Iggy Pop, have a great day!

@BILL 

Hey Bill, thanks for the question.

As outlined in the proposal, we're using the treasurer track so we can utilise the scheduler pallet to program what we're calling Optimistic Grants.

We believe this payment structure is better for both;

• proposers: are assured a second payment should they deliver and can therefore not need to risk returning for a second payout alongside all the time/effort/challenges.

• voters: avoid the extra bureaucracy/centralisation of bounties but gain the benefits of oversight via a call to cancel the balance should a team fail to report progress and complete work within a bounded timeline.

Given W3F have delegated to DV accounts outside of the treasurer track, this has posed something of a quandary, given we dont believe up front paymet of all funds nor bounties are optimal for this kind of spend.

The scheduler pallet can't be used on the Spender tracks - we're not sure why this decision was made.

Hopefully that helps - Interested to hear your thoughts.

@DECENT PARTNERS 

I didn't realize scheduler can't be used on the Spender/Tipper tracks. This makes sense, then. Thanks for explaining.

@PromoTeam Validator 

Thanks for the comment.

Yes there have been many discussions - and a number of appearances on AAG by both the Brale team and Glo Dollar (an example of a branded stablecoin).

For the purpose of simplicity, they were removed from this proposal which is now focused purely on the integration.

See: https://x.com/TheKusamarian/status/1734276957565575198?s=20

There are a number of immediate opportunities such as:

• Kusama (and Polkadot) stablecoin where all treasury spends are denominated in a trusted USD, that ensures value stays witin the ecosystem, rather than moving to a private company such as tether or circle.

• Gaming ecosystems - imagine MythosUSD

• Sports - imagine InterMiamiUSD

We have a number of projects / partnerships in this kind of space given our backgrounds working with top clubs, influencers, broadcasters and brands.

Rather than focus on the specifics, the integration is what matters initially since this allows the collective to have a say in the projects launching.

@SPACE_INVADER 

Hi there - thanks for the comment.

You can see from the proposal that Brale fulfil these criteria - is this what you meant?

Brale enables the creation of branded stablecoins from partner organisations sharing revenues on yield.

Brale’s leadership team has developed regulated financial products for over a decade.

At Dwolla 2, we helped invent Banking-as-a-Service (BaaS), facilitating tens of billions per year in transaction volume for more than 10 million end users.

Our partners built the BSA/AML programs banks and FinTechs rely on to operate their businesses.

As a registered Money Services Business (See NMLS ID 2 2376957) and a licensed money transmitter in the US, Brale is licensed to offer stablecoin issuance, redemption, exchange, and custody services.

As of December 2023, Brale has acquired Money Transmitter Licenses or exemptions to offer regulated services in the following 36 U.S. states:

*Alabama, Alaska, Arizona, Arkansas, California, Colorado, District of Columbia, Georgia, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Utah, West Virginia, Wisconsin, Wyoming.*

Stablecoins are fully backed by cash, cash equivalents, and U.S. treasuries, subject to daily reporting and monthly attestations performed by an independent accounting firm according to standards set by the American Institute of Certified Public Accountants (AICPA).

Reserves are held in a number of U.S. regulated financial institutions that have FDIC insurance, ensuring that the funds remain available for disbursements irrespective of the health of the underlying banking institutions.

Hey Space Invader.

Please see detail in the proposal re: Brale.

Brale enables the creation of branded stablecoins from partner organisations sharing revenues on yield.

Brale’s leadership team has developed regulated financial products for over a decade.

At Dwolla, we helped invent Banking-as-a-Service (BaaS), facilitating tens of billions per year in transaction volume for more than 10 million end users.

Our partners built the BSA/AML programs banks and FinTechs rely on to operate their businesses.

As a registered Money Services Business (See NMLS ID 2 2376957) and a licensed money transmitter in the US, Brale is licensed to offer stablecoin issuance, redemption, exchange, and custody services.

As of December 2023, Brale has acquired Money Transmitter Licenses or exemptions to offer regulated services in the following 36 U.S. states:

• Alabama, Alaska, Arizona, Arkansas, California, Colorado, District of Columbia, Georgia, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Utah, West Virginia, Wisconsin, Wyoming.*

Stablecoins are fully backed by cash, cash equivalents, and U.S. treasuries, subject to daily reporting and monthly attestations performed by an independent accounting firm according to standards set by the American Institute of Certified Public Accountants (AICPA).

Reserves are held in a number of U.S. regulated financial institutions that have FDIC insurance, ensuring that the funds remain available for disbursements irrespective of the health of the underlying banking institutions.

@encointer 

Thanks Encointer team.

To be clear, V3 simplified the proposal to just the Brale integration and removed Glo Dollar which could be added later with a separate proposal focused on their unique offering.

This is more a common good integation that then opens up the possibility for branded stablecoins to be created.