Whitelisted by  Fellowship #0

[Whitelisted Caller] Swap Bifrost Treasury KSM to DOT, support Bifrost-Polkadot growth.

Whitelisted Caller
1yr ago
2 Comments
Executed

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.

Edited
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Status
Decision14d
Confirmation10mins
Attempts
1
Tally
100%Aye
64.4%Threshold
0%Nay
Aye
494.4KBNC
Nay
0BNC
  • 0.0%
  • 0.0%
  • 0.0%

Threshold

Support6.18%
4.94MBNC
Issuance
79.99MBNC
Votes
Nested
Flattened
Calls
Call
Metadata
Timeline6
Votes Bubble
Statistics
Comments

23,772.70768824 DOT transfered to Bifrost-Polkadot Foundation via XCM.
https://bifrost.subscan.io/xcm_message/polkadot-32f37dad0686ea7aab79827e502c772f8044d0e6

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23,772.70768824 DOT transfered from Bifrost-Polkadot Foundation to the Bifrost Treasury.
https://bifrost.subscan.io/extrinsic/0x76428e4b3a1478ba9dae7254fd846a03a17adfb3d491ad9b8cf38069b79de913

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