Kusama Treasury Subsidy Repayment: Redeem borrowed vKSM

Tyrone
1yr ago
2 Comments

TL,DR

This proposal is the step #2 to repay borrowed 50,000 KSM from Kusama Treasury, redeem withdrawed vKSM from step #1 to KSM.

Check more details in step #1 proposal: https://bifrost.subsquare.io/post/32

Summary

vKSM redeemed steps:

  1. Dispatch Bifrost Treasury address (eCSrvbA5gGNYdM3UjBNxcBNBqGxtz3SEEfydKragtL4pJ4F) to redeem all withdrawed vKSM from Zenlink and Mangata. (The exact vKSM redemption amount will be announced after withdraw is executed).

*vtokenAmount should be equals to withdrawed vKSM amount.

Next Step

Step 3: Transfer all Subsidy KSM from Treasury address to the Treasury derived address, set_balance “KSM interest for one year” on the Treasury derived address and XCM transfer to Kusama Bifrost sovereign account.

Step 4: initiate proposal on Kusama to repay all borrowed KSM + the KSM interest for one year.

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Tyrone

Step 3: XCM Transfer 50,000 Subsidy KSM + once year interest from Bifrost Treasury address to Kusama Treasury address.

Edited

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Tyrone

Total liquidity withdrawed from DEXs:
vKSM: 22,225.227382747563
KSM: 26,810.843852419039

Refers to: https://bifrost.subsquare.io/post/32

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