TL,DR
This proposal aims to convert KSM earnings from the Bifrost-Kusama treasury into DOT through off-chain operations as a protocol own liquidity (POL), helping to develop more liquidity application scenarios for Bifrost-Polkadot.
Summary
This proposal will be executed through the following steps:
- Through a referendum, 4083.3579 vKSM (equivalent to 5,000 KSM from System Staking earnings) in the Bifrost-Kusama treasury (eCSrvbA5gGNYdM3UjBNxcBNBqGxtz3SEEfydKragtL4pJ4F) will be transferred to the Bifrost Foundation address: dmTEFZ77m7WtJmd7PY6pMh111uTtW9jpwfwasTGsWKUGp5M
- The Bifrost Foundation address will redeem the corresponding amount of vKSM and exchange KSM for DOT in the DEX or CEX (Depending on transaction slippage).
- The Bifrost Foundation address will transfer the exchanged DOT to the Bifrost-Polkadot treasury.
All off-chain actions will be disclosed in the comments section of this proposal.
23,772.70768824 DOT transfered to Bifrost-Polkadot Foundation via XCM.
https://bifrost.subscan.io/xcm_message/polkadot-32f37dad0686ea7aab79827e502c772f8044d0e6