[Root] Referendum #17 - Burn 400M RING from Darwinia on-chain treasury

Root
4 Comments
Executed
  • Content
  • AI Summary
Reply
Up
Share
Status
Decision28d
Confirmation4d
Attempts
1
Tally
100%Aye
51.0%Threshold
0%Nay
Aye
40.68MRING
Nay
0RING
  • 0.0%
  • 0.0%
  • 0.0%

Threshold

Support(2.49%)
41.51MRING
Issuance
1.66BRING
Votes
Nested
Flattened
Calls
  • Call
  • Metadata
  • Timeline6
  • Votes Bubble
  • Statistics
    New
Comments
Sort by
Oldest

I counter-propose depositing a large quantity of this into the HydraDX Omnipool, to provide more liquidity for swaps and lending RING across the Polkadot ecosystem.
https://github.com/orgs/darwinia-network/discussions/1489

(if you'd like to both burn 400M RING and also deposit 230M RING into Omnipool then sure. But that's 75% of the treasury in total)

--spazcoin

Reply
Up 1

Based on discussions with the HydraDX team assets are limited to 2% weight cap of the total TVL of the Omnipool. Currently that limits the additional RING that can be deposited to 125M to 150M. This would still result in a treasury burn of 250M to 275M RING.

Reply
Up

I give big support FOR burning 400M $ring.
Voted with x6 conviction.

Reply
Up