REFERENDUM #644 "Top Up"

Proponent: ORSEN_SEAN - 1eUsBZgJuvpmVNBrBSRQ9gjPTuH6QMAnQrdwQ1ZXwa5FEvo

Beneficiary: Multi-sig - 13JJDv1yBfMtP1E66pHvm1ysreAXqkZHxY5jqFR4yKPfL2iB

Multi-sig with 9 trusted members of the community. 

Status: Currently in contract negotiation with community approved sports sponsorship proposition. 

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.