Requesting "Top Up" of Ref #601 due to DOT price change
In referendum #601 we requested a total of $485,000 with the day's EMA7 of $9.544. This was a total of 50,817.27 DOT. When received at the end of the spending period the EMA7 was $6.88 and we only received $350,027. A difference of $134,973.
In referendum #883 we are requesting a total of 25,000 DOT to cover this price difference with a buffer to protect against further price volatility.
At posting the EMA7 for today is $6.38 which is a total of 21,155.64 DOT for $134,973. We have added a ~15% buffer on this (3,844.36 DOT). At the time of payment when the spending period ends in ~36 days the amount will be recalculated at the EMA7 for that day and any excess refunded to the treasury account listed below.
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TIA!
Comments (6)
Requested
Proposal Failed
Summary
0%
Aye
0%
Nay
Aye (37)0.0 DOT
Support0.0 DOT
Nay (42)0.0 DOT
I agree with the top up Tom, since the dot varied a lot, it is fair that it has a complement of this variation value.-
@Parachainboy should not be give dot top ups to one project and not others. Also teams should not be just dumping all the DOT on the open market.
The numbers look right and the team behind the proposal is reliable. My AYE for this.