I agree with the above and vote against :
I am NOT opposed to necessary expenditures from the state treasury, BUT more transparent mechanisms and information are needed to show all investors the legitimacy of requesting funds and the possibility of other sources of funds.
Since each proposal takes at least a week to pass, during which the price seriously deviates from the price marked on the proposal, it will lead to huge gains or losses for the proposer.
I propose a possible solution: During the next bull market, regular proposals will convert the quantitative intr or others (such as DOT) in the treasury into stable coins, and then use these stable coins to pay with new proposals. (Theoretically I don't agree with INTR being redeemable below $0.1 USD)
The Web3 Foundation has just launched the Polkadot Ecological Project Funding Program to support individuals and teams in launching new initiatives aimed at developing the Polkadot ecosystem. The application window for this program is from November 2023 to June 2024. Hope it helps you or your team. https://futures.web3.foundation
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The user above raised good points. Especially number 3 is great. Interlay does not even have to sell INTR, in a bull run it can convert some of its LRNA (the hub token on HydraDX that compensates the IL) into USDT to pay for such services.
I am against paying with INTR tokens.
(If there is a BOB airdrop in the future, it will become a double payment.)
I have only seen Gate, but 350000INTR is larger than the sum of all INTRs that can be viewed in the buy order.
That's enough to drop the price by more than 20-30% in one hit, ending the recent upward price trend.
I agree with paying in dollars, such as USDT.
I am against the following cases.
・In order to pay $6,000, INTR tokens will be sold all at once, causing the market to collapse.
・Transfer 350,000 INTR.
I agree with the following cases.
・The Interlay team purchases and pays for $6,000 worth of INTR tokens (or 350,000 INTR) on CEX, and transfers the INTR tokens from the national treasury to the Interlay team.
I am against paying with INTR tokens.
(If there is a BOB airdrop in the future, it will become a double payment.)
I have only seen Gate, but 350000INTR is larger than the sum of all INTRs that can be viewed in the buy order.
That's enough to drop the price by more than 20-30% in one hit, ending the recent upward price trend.
I agree with paying in dollars, such as USDT.
I am against the following cases.
・In order to pay $6,000, INTR tokens will be sold all at once, causing the market to collapse.
・Transfer 350,000 INTR.
I agree with the following cases.
・The Interlay team purchases and pays for $6,000 worth of INTR tokens (or 350,000 INTR) on CEX, and transfers the INTR tokens from the national treasury to the Interlay team.
@OpenSquare maybe you could clarify in the proposal above that this is just the cost for Interlay and does not include Kintsugi?
I think overall, it's very well worth supporting SubSquare. The governance platform is always online and they have been extremely quick in adding custom changes that the Interlay chain has in comparison to Gov v1 and Gov v2 systems on other parachains/the relaychain.
We are happy to be working with them and they resolve reported issues accurately and quickly.
@wd9Q...aa6T Yes, this proposal is just for interlay subsquare maintenance, and the request referendum to kintsugi is here.
Honestly we tried to be a partner to the interlay community and don't want to bring any trouble to the community. We are not interested in any extra fund due to the uncontrollable factors including the price fluctuation. But we, OpenSquare as a team, need to pay developers salaries to keep us alive. We are happy to coordinate the adjustments of payment ways.
Hello, I have just wondered why you are charging both networks by INTR holders. In the previous proposal https://interlay.subsquare.io/democracy/referenda/42 you also charged INTR and said you may/would propose on kintsugi this time.
The INTR performance in the last weeks has been sure good, but it is still a small holder community. $600 per month is quite expensive for us; 350K INTR + 300K INTR from last time would put you in the top 75 "holder position" (most of us have bought INTR at much higher prices and hope it can go back there).
Do have a public table with all your received funds from Polkadot and all parachains? How long are you planning to charge parachains one by one? How about the beginning projects that can't afford it? Is it an option to wait and hope the projects succeed (or just wait until a bull run) and can more easily pay for these services?
Besides the iNTR price has been since the November 10th over $0.02c, the proposal was launched on the 14th...The amount requested would be approx. $10,000 in today's price ($0.0277c).
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