Referendum #54
#54 - Proposal to Setup Keyless Vault to Receive & Manage Kusama Treasury Grant
qmzm
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

  1. Set up a dedicated keyless vault (namely the Grant Vault hereafter) on Karura to receive 22k KSM sent from Kusama Relay chain
    • Grant Vault address: ogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
  2. The Grant Vault will be managed by on-chain governance.
  3. 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 only Grant Vault can transfer the funds via governance
  • LKSM/taiKSM Mint Proxy address: pkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN
  1. 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. The aUSD Vault Management Proxy can only perform relevant aUSD vault management functions
  • aUSD Vault Management Proxy address: qqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCF
  1. 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

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Votes
50%Aye
50%Nay
Aye
0 KAR
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0 KAR
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Metadata
Proposer
ts9q...jpbm
Hash
Delay
02022-06-13 21:49:36
End
02022-06-13 20:39:12
Threshold
Call
Table
Json
callIndex0x0302
sectionutility
methodbatchAll
args
calls
0
callIndex0x0c02
sectioncurrencies
methodupdateBalance
args
who
idogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
currencyId
tokenKSM
amount0x0000000000000000004e28e2290f0000
1
callIndex0x0303
sectionutility
methoddispatchAs
args
asOrigin
system
signedogexCmX6pBvvjvwe6VnuwHAM7cyNp5birY4RuzJ8qCQCw89
call
callIndex0x0302
sectionutility
methodbatchAll
args
calls
0
callIndex0x0501
sectionproxy
methodaddProxy
args
delegateqqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCF
proxyTypeStableAssetSwap
delay0
1
callIndex0x0501
sectionproxy
methodaddProxy
args
delegateqqtn8NAj74sX5HRLWs6C84LadAFw3oVTxy7Ao2dmoCK2kCF
proxyTypeLoan
delay0
2
callIndex0x0501
sectionproxy
methodaddProxy
args
delegatepkGemTHxxdkg9inXsLzi8dVcRJXNbaYTNHAVQzGk9XcYjYN
proxyTypeAny
delay0
TimelineLatest activity undefined
2022-06-10 10:25:06
Started
referendumIndex
54
voteThreshold
SimpleMajority
2022-06-13 20:39:12
Passed
referendumIndex
54
2022-06-13 21:49:36
Executed
result
ok
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