Retroactive Funding for Brale’s Public Good Stablecoin Integration with Kusama Asset Hub (now live)
Full proposal here.
**Latest Brale deck inc Kusama/Polkadot: here. (**added 8.12.24).
Proponent: Decent Partners collective
Request: $125,000 + 10% volatility buffer any excess will be returned.
Total USD: $137,500 Total KSM: 4044 (EMA7 $34)
Beneficiary: Decent Partners organisation on krievo, sovereign account on relay chain.
Address: G2zmdwA3V1je5nrXdwDYGPC6hqvqaomoaHmNdMy1JPL7frh
Members: Four organisations with 1 vote each - decent, Brale, Virto, KSM collective.
Governance: optimistic approval - proposals pass by default unless majority organise to reject.
Contact: Decent Partners public matrix inc representatives from member organisations.
Summary
This proposal seeks retroactive funding of $125,000 in KSM to reimburse Brale for completing the integration of their community driven stablecoin issuance platform with Kusama AssetHub, which establishes a significant public good, unlocking exciting new opportunities for collectives.
By leveraging the Kusama-Polkadot bridge, Brale allows any organisation operating on either network to issue US regulated and yield generating stablecoins that can be exchanged at zero cost across 15 connected blockchains.
Ethereum, Base, Solana, Optimism, Polygon, Ethereum Classic, Celo, Hedera, Arbitrum, Avalanche, Cosmos, Coreum, Vechain.
The first stablecoin is decent/dUSD and it has been minted on Asset Hub with ID 50,000,002.
Brale have onboarded to krievo, joining the Decent Partners collective alongside decent, Virto and KSM collectives.
They are committing their KSM fee to driving adopton of dUSD.
A concurrent proposal requests a KSM liquidity subsidy for kickstarting a KSM:dUSD trading pair on Asset Hub.
Brale are committing $300k of dUSD to the pool.
Comments (6)
Requested
Proposal Passed
Summary
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Aye (39)0.0 DOT
Support0.0 DOT
Nay (19)0.0 DOT
HI,
Could you specify your plans with the P<><K bridge ?
You say you want to leverage on it, so what do you have in mind there ?
@CryptoSurfer
"Could you specify your plans with the P<><K bridge ?"
With the bridge in place KSM+DOT and arbitrary assets can move between networks.
That means users/collectives can access the Brale stablecoin infra across both networks, minting assets on Kusama AH.
Stablecoins issued there can also move freely between networks.
With the Kusama integration done it would also be easy to enable the integration on Polkadot AH - for example if people preferred to mint a Polkadot Dollar (pUSD) there for branding purposes.
Please also provide mroe details about your 125k$.
You're throwing a number without any details.
Thx to provide a full breakdown of the costs.
We don't even know if there are some maintenance costs that the Treasury may have to pay in the future ot not.
@CryptoSurfer
The $125k is Brale's standard integration fee.
We have negotiated for this KSM cost to be leveraged to bootstrap the first stablecoin dUSD rather than it being used as a straight up fee.
No ongoing / maintenance costs.