<a href="referenda/644" target="_blank" rel="noopener">REFERENDUM #644</a> "Top Up"
Proponent: ORSEN_SEAN - 1eUsBZgJuvpmVNBrBSRQ9gjPTuH6QMAnQrdwQ1ZXwa5FEvo
Beneficiary: Multi-sig - 13JJDv1yBfMtP1E66pHvm1ysreAXqkZHxY5jqFR4yKPfL2iB
Multi-sig with 9 trusted members of the community.&nbsp;
Status: Currently in contract negotiation with community approved sports sponsorship proposition.&nbsp;
No Funds have been transferred from Multi-sig, or will be transferred without full disclosure of contract terms.
Top Up Funds Requested: 598K DOT
In referendum #644 we requested a total of $8.82m with the day's EMA7 of $9.11 This was a total of 968k DOT. Current EMA7 is $6.12 at Block #21288919. The Multi-sig currently has insufficient funds to enter the agreement approved by the treasury.
In this referendum we are requesting a total of 598k DOT to cover this price difference with a 15% buffer to protect against further price volatility.
In the event of DOT Price increase, any funds in addition to the $8.82m requested for and approved by treasury during Referendum #644 will not be transferred from the Multi-sig and will be returned to the treasury.&nbsp;&nbsp;

- **Problem Statement:** Difficulty in opening XCM channels between Polkadot parachains due to the need for DOT deposits, hindering DeFi accessibility and use case development.
- **Significance:** Limited XCM channels on OG chains and delays in token availability on DEX highlight the need for more efficient channel opening processes.
- **Proposed Solution:** Deposit 2261 DOT into non-DeFi parachains' Child accounts to facilitate opening XCM channels, enhancing DeFi accessibility and increasing XCM traffic.
- **Expected Outcomes:** Accelerated opening of XCM channels, improved DeFi access, increased interoperability between chains, and reduced technical barriers for use case development.

#895 Requesting "Top Up" of Approved Ref #644 due to DOT price change

No Active Proposals