[Liquid Staking] Referendum #82 -> helixstreet applying for VBL

Liquid Staking
3mos ago
8 Comments
Rejected

helixstreet is a parachain project fully supported by our own independent and high-performance validators with Kusama's minimum commission. We're dedicated to providing reliable and efficient infrastructure to the Bifrost ecosystem and Kusama and are excited to apply for the VBL of Bifrost!

Name of node provider: helixstreet

Brief Description on node provider: We are a parachain project nestled in the Polkadot/Kusama ecosystem. Our project could lead to enormous benefits for the whole ecosystem if successful.
We are completely financed by our staking nodes, which are also supported by the DN Program of the Web3 Foundation:

  • Polkadot - 3 nodes/1 permanently in the active set
  • Kusama - 4 active validators/3 permanently in the active set - 1 just needs a little boost.

Our validators are constantly in the top category at staking.polkadot.cloud. All our rewards are restaked with a considerable self-stake.

In the Kusama network, we have an RPC node running (not yet in polkadot.js but published in the validator lounge community and the PBA Alumni). We started exploring the collator business a bit and started a collator for the asset hub parachain (which was up to now never active). Lately, we started exploring the Bifrost ecosystem by experimenting with providing liquidity to several pools and minting KSM.

Our proposal here in the Bifrost Kusama ecosystem is deliberately started not in Polkadot but in Kusama to start and to explore what we can do for the ecosystem.

Expanding the Polkadot/Kusama ecosystem by a new parachain like helixstreet, which is expanding to a completely new area and user base, is beneficial for all parties in the ecosystem - including Bifrost.
We always try to keep high standards in communicating and collaborating in a polite mannered way and keeping a positive impact on all ecosystems we are involved in and try to help everyone to grow.

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Status
Decision14d
Confirmation3hrs
Attempts
4
Will be rejected immediately with over 
0
 nay votes.
Tally
49.9%Aye
50.0%Threshold
50.1%Nay
Aye
13,200BNC
Nay
13.23KBNC
  • 0.0%
  • 0.0%
  • 0.0%

Threshold

Support0.00%
3,300BNC
Issuance
74.8MBNC
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Comments

There is no perfect plan, no value added to Bifrost, and I do not agree with it.

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Nah as well, pls optimize your dicussion proposal first, clarifying the beneficial partnetship of this.

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TL:DR

This proposal recommends the inclusion of helixstreet into the VBL of vKSM.

Information:

Name of node provider: helixstreet

Brief Description on node provider: Helixstreet is a parachain project operating within the Polkadot and Kusama ecosystems.

**Number of nodes that want to join the Validator Boost List:**3
The address of the node that wants to join the Validator Boost List and which network:

  • CrfvUqb1cbjJ9j7TkbCuXzuffquXFmAASZUeM3Ha9x6pXjX
  • J6K1vA6ynGo2GrotGpP5ocHKr82JFTv7NUnzJcoRfTcCn8T
  • DGvPFG7dHMWryfHQD2XBQ4WX1nM5KnyHmsLSj2k7DaBRhUD

Two of these nodes, and another helixstreet validator, are frequently selected by vKSM due to their high performance. Two nodes are also part of WEB3 Foundation DN.

Liquidity Contribution by VBL Applicant :

Token amount provided to minting vToken: vDOT / >>5000 ( minted and bought via hydration ) ; vKSM 100
Plan to provide vToken liquidity
Single token farming: Leverage vKSM,VDOT (Still in the experimental phase with small amounts)

vToken - Token LP: helixstreet has several LP Positions including vDOT on hydration.io

The provided liquidity figures will remain unchanged if accepted, and will be increased if possible.

Other

  1. Including helixstreet into VBL would increase the APY of vKSM due to the low commission and high performance of helixstreet, which would lower the average commission of VBL participants.
  2. Helixstreet has started a now fully synced bifrost Polkadot collator node (10 GB Internet/self-hosted), visible under telemetry (https://telemetry.w3f.community/ ->Bifrost Polkadot). If this collaboration succeeds, helixstreet will register the node in polkadot.js.
  3. Helixstreet is active in an environment where stakeholders, whose main focus is life sciences, would prefer to use liquid staking for simplicity. Helixstreet can recommend vKSM/vDOT when actively involved. The whole polkadot ecosystem would benefit from the pharma industry's investment in DOT.

Edited

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