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DOT Experts Tip for OnlyDeFiGuy for Proposal #684 Chainalysis analytics solutions in USD

inBig Tipper
a year ago
chainanalysis
voidspend
multistage
Rejected

image

This is "Big Tipper" track tip for OnlyDefiGuy of up to 6000 USD (1000 USDC+2000 USDT+3000 USDC).

OnlyDefiGuy had the courage to face the dragon on behalf of Dotizens,
sharing his expert report on #684 here in this doc

We should value this kind of courage and expertise. It clearly requires skin as thick as a dragon when proposals are this contentious.

This "Small Spender" tip attempts to Create a Multistage Payout Proposal with 3 treasury.spend:

  1. at block 21,000,000, pay 1000 USDC (est. May 30)
  2. at block 21,403,200, pay 2000 USDT (est. Jun 27)
  3. at block 21,806,400, pay 3000 USDC (est. Jul 25)

This multistage payout mechanism could be used by Big/Medium/Small Spender proposers for meeting time-based milestones or product-based milestones. It can almost certainly can be used for DOT payments as well.

Assuming this passes (and the staged payout mechanics works in Polkadot), we imagine someone could submit a treasury.voidSpend on the 3rd payment (or 2nd payment). This is not because we believe OnlyDefiGuy doesn't deserve 3000 USDC (we do, because dragon fighting is hard work), but because it is clear the community learning this "voiding skill" can be explored to significant effect.

Or maybe OnlyDefiGuy will fight off enough dragons by then =)

Note:

  • #780 is in DOT but exceeds the 250 DOT Small Tipper track limit (150+300+599 = 1049 > 250 DOT)
  • #781 is in DOT but exceeds the 1000 DOT Big Tipper track limit (150+300+599 = 1049 > 1000 DOT) -- this is expected to FAIL when the proposal is enacted (if 781 passes)
  • #782 is in USD but should not exceed the 1000 DOT Big Tipper track limit (1000+2000+3000=6000 USD < 1000 DOT). This does not use the asset conversion pallet but instead uses a 10 USD / DOT assumption so 100+200+300 DOT = 600 DOT < 1000 DOT will mean this will SUCCEED if the proposal is enacted (if 782 passes)

image

Comments (6)

a year ago

Notes: (from Joe)

  • The USDC + USDT are from this Treasury address on AssetHub on Polkadot:
    https://assethub-polkadot.subscan.io/account/14xmwinmCEz6oRrFdczHKqHgWNMiCysE2KrA4jXXAAM1Eogk
  • The USDT/C is never going to come from liquidity pools, it has to be on the Treasury's account.
  • The DOT/USDC + DOT/USDT conversion is using a FIXED 1 DOT = 10 USDT/C, and NOT the AssetConversion pools right now (Thus this spend is 600 DOT < 1000 DOT of Big Tipper). So, the price / liquidity in the pools doesn't matter for now, but could in the future, see #101 Allow Asset Conversion Subscriptions

a year ago

Big Aye! ~ flipchan

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Requested

USDC
4.00K USDC
USDT
2.00K USDT

Proposal Failed

3

of 3

Summary

0%

Aye

AyeNay

0%

Nay

Aye (26)0.0 DOT

Support0.0 DOT

Nay (19)0.0 DOT

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