#54 - Proposal to Setup Keyless Vault to Receive & Manage Kusama Treasury Grant
Democracy
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Executed
Background
Kusama Treasury has granted Karura 22k (20k as incentive grant and 2k as aUSD liquidity grant) KSM used for boostrapping 3-pool (aUSD-USDT-USDC) powwered by the Taiga protocol deployed on Karura. This grant is used to support
- bootstrap Kusama-native decentralized stablecoin aUSD
- bootstrap Kusama-native USDT on Statemine parachain
- bring USDC liquidity from Ethereum to Karura/Kusama via Wormhole bridge
For more details of the proposal, please see here and here
Proposal
Content
- Set up a dedicated keyless vault (namely the
Grant Vault
hereafter) on Karura to receive 22k KSM sent from Kusama Relay chainGrant Vault
address:ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
- The Grant Vault will be managed by on-chain governance.
- Set up a temporary
LKSM/taiKSM Mint Proxy
account, that will subsequently be used to split the 20k KSM roughly 50% as LKSM and 50% as taiKSM (synthetic KSM made from LKSM-KSM). TheLKSM/taiKSM Mint Proxy
will be destroyed after completing the operations, and onlyGrant Vault
can transfer the funds via governance
LKSM/taiKSM Mint Proxy
address:pkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN
- Set up an
aUSD Vault Management Proxy
account, that will subsequently be used to generate aUSD liquidity from the 2k KSM, and manage the positions. TheaUSD Vault Management Proxy
can only perform relevant aUSD vault management functions
aUSD Vault Management Proxy
address:qqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCF
- Follow-on proposals will release the funds in 12 tranches over 12-month period to Taiga protocol, who will be responsible to distribute them for the 3-pool LP participants.
Refer to the 3-pool program Proposal#2 for more details.
Proposal Call
0x0302080c02001111111111111111111111111111111111111111111111111111111111111111008200000f29e2284e00000000000000000003030001111111111111111111111111111111111111111111111111111111111111111103020c05017095491dc941e21b9269fe67b322311df5daafd75f0bf8868afd8fa828b06329070000000005017095491dc941e21b9269fe67b322311df5daafd75f0bf8868afd8fa828b0632905000000000501400f360c98ee8df02f3addc462452f19813c080d077b9777ef8843ea49c2343d0000000000
Referendum
[https://karura.subscan.io/referenda/54]https://karura.subscan.io/referenda/54
[https://karura.subsquare.io/democracy/referendum/54]https://karura.subsquare.io/democracy/referendum/54
Edited
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Metadata
Proposer
Hash
Delay
02022-06-13 21:49:36
End
02022-06-13 20:39:12
Threshold
Call
Table
Json
callIndex | 0x0302 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
section | utility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
method | batchAll | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
args |
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TimelineLatest activity undefined
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