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Polkadot Treasury USDT Acquisition

inRoot
2 years ago

The Polkadot Technical Fellowship is an integral part of the Polkadot ecosystem, ensuring the ongoing advancement and upkeep of the network. However, there's a present need for a more predictable and stable financial model to support uninterrupted Fellowship salary distribution. This proposal outlines a strategy to accumulate USDT for the Fellowship's salary by placing DCA orders to swap DOT for USDT using the HydraDX Omnipool to establish a daily conversion.

For more information about executing DOT to USDT conversions from the Polkadot treasury via the HydraDX DCA pallet, please review the full proposal document.

Please note that the complexity of this call, with multiple XCM calls and the involvement of a scheduler, dictates that it should follow the Root track for execution.

Comments (16)

2 years ago

Max bullish utilizing ecosystem tech for great use cases

2 years ago

Hello @OTAR

We voted AYE in support of a mechanism that avoids sudden selling pressures due to salaries by spreading the pressure over time... however we reserve the opinion on fully automating DOT expenditures from the Treasury (we would love to see more audits on these mechanisms).

Cheers!

Milos

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Proposal Passed

3

of 3

Summary

0%

Aye

AyeNay

0%

Nay

Aye (188)0.0 PAS

Support0.0 PAS

Nay (32)0.0 PAS

Comments (16)

2 years ago

Max bullish utilizing ecosystem tech for great use cases

2 years ago

Hello @OTAR

We voted AYE in support of a mechanism that avoids sudden selling pressures due to salaries by spreading the pressure over time... however we reserve the opinion on fully automating DOT expenditures from the Treasury (we would love to see more audits on these mechanisms).

Cheers!

Milos

Load more comments
PleaseLogin to comment

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