This proposal will set the DOT Vault Collateral Ceiling On Interlay to 2,450,000 DOT.
Ahead of iBTC launch, this proposal increases the DOT collateral ceiling to 2,450,000 DOT - roughly 20,000,000 USD equivalent - to provide enough capacity for initial BTC liquidity growth. DOT is the main iBTC collateral at launch.
These numbers are based on projections derived from conversations with current/onboarding Vault operators.
Requesting TC Fast-track
Since this is an initial ceiling setting and we want to get everything ready for the launch, we request TC fast track to move quickly with setting initial system settings.