[Ignore]

This proposal rotates the oracle and TC keys. This is a regular operation to ensure that keys are regularly changed.

New oracle: `5Do8NKVjUnqPNj3HKeY7CpRcX6KX1HRxkUwdVszYobxEyCh7`
New TC: `5CnmWXx6JgSp59a5Y6ExXqcVZjQhGCoFeHxQh5vyMBtn4S9w`

## Extrinsic

https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fapi.interlay.io%2Fparachain#/extrinsics/decode/0x03020c3e014c970d75292b7c37c09dd4ce5c1ac7e476419782dd18d3702015831584dba51020496e7465726c61794802b0a2918e8abe126f7a6e73eb2369634702ed01b4b33aceaf69f4489a3495793e20149a852df177454d156761aa6b7b8b396c0b1705270d6a37fd91348dbb6f623e0220ff1a6f3f1f68de293a00634573ec70f5c21e5da2b1054bffbe6696db28663c

## TC

Request for TC fast-track to make start of new oracle predictable.


- A proposal was made to change the oracle and TC keys regularly.
- The new oracle key is `5Do8NKVjUnqPNj3HKeY7CpRcX6KX1HRxkUwdVszYobxEyCh7`.
- The new TC key is `5CnmWXx6JgSp59a5Y6ExXqcVZjQhGCoFeHxQh5vyMBtn4S9w`.
- An extrinsic was provided to execute the key rotation.
- A request was made for a TC fast-track to ensure the start of the new oracle is predictable.

Regular Key Rotation - Rotating Oracle and TC Keys

**Summary**

- After the recent [Discord post](https://discord.com/channels/745259537707040778/816600422864650251/1052979972073066517) by the Interlay team, we are putting forward this proposal to readjust the vault rewards to the levels suggested by the team in that post to prevent capital flight and preserve vault integrity.

- This proposal readjusts vault block rewards to a level below the original vault reward level but still sufficient to incentivise liquidity to the protocol at reasonable collateralization rates. We believe an adjusted reward scheme will prevent the further unwinding of vaults, which has already been witnessed after the previous [Referendum #33](https://interlay.subsquare.io/democracy/referendum/33) is otherwise expected to accelerate over the coming weeks.

- We believe that periodic reviews should still be undertaken to assess the reward levels based on movements in the INTR price in order to ensure the long-term health of vault operators and the protocol overall.

- It is now evident that the substantially reduced reward level implemented via Referendum #33 does not compensate for the significant risks and costs of running a vault including: fixed infrastructure setup and maintenance costs, daily collateral management, delta risk on collateral assets and real-time monitoring and risk assessment. In addition, meaningful “black swan” risks have been and will continue to be incurred by vault operators as the protocol matures. We have recently seen the bricking of the KINT chain—which completely locked up collateral—and prior issues with liquidations at no fault of the vault operators. Other issues will likely arise as the protocol matures. These risks must be adequately addressed for the protocol to grow and attract capital.

- This proposal is intended to realign the incentives given the most recent data and direct feedback from the INTR team and vault operators.

**Aim of the proposal**

To help realign the vault incentives post-Referendum #33, mitigate capital flight and minimize vault unwinds.

As mentioned by the Interlay team, the reduction in rewards was intended to lower vault APY to a sustainable level with the assumption that vaults would run at the new lower collateral threshold of 155%. However, it is now clear that this collateral level creates a very high level of risk for operators, and thus many vault operators (and nearly all Vault operators with substantial capacity) are not comfortable running with low collateral coverage and, therefore, the assumptions of the original proposal require adjustment. This proposal increases vault rewards (while still keeping them below initial levels) to prevent further capital flight and maintain an experienced set of vault infrastructure providers as the Interlay team rolls out their new product roadmap.

Under today’s reward structure, if vaults continue to run at a level of 260%, the current APY is only 16% which is only equivalent to a passive $DOT staking rate and not sustainable or attractive given the requirements for vault operation and the risks listed above. Even a vault operating at the latest premium redeem threshold of 140% but still using the same operational cushion of 60% [260% vs. 200%] is only yielding 20% for an activity that requires FAR more infrastructure investment, operational engagement, risk, and expense than passive staking on the $DOT relay chain.

**Solution**

**1) Adjust Vault block rewards to an appropriate risk and reward level**

The proposal is to adjust the Vault rewards such that at a collateral level of **260% APR on Interlay is ~40-50%**, assuming the amount of collateral locked prior to the capital flight following Referendum #33. (Locked BTC and collateral would be expected to revert close to prior levels once rewards are readjusted). This is the level recommended by the Interlay team in recent discussions with Vault operators.

**Accordingly, this proposal updates the block reward from 9.866085649312430 INTR to 35.6621004566 INTR.** No other changes are proposed to the reward structure, collateral requirements, or INTR runtime.

**2) Regular Review & Adjustment of Vault Economics.**

We believe that, as proposed in Referendum #33, a structure should be established to periodically review vault economics, and the community should have final say as to how these economics (and also those allocated for staking and liquidity incentives) are adjusted over time based on a myriad of internal and external factors. There are numerous variables to consider here (many of which will be fluid over time), so we believe this review and adjustment structure should be established with a separate referendum that is developed once the specifics of INTR 2.0 are more clear.

**Expected Result**

- Stem the flight of capital from the INTR Vault ecosystem that we have seen since Referendum #33
- Increase capital entering the protocol over the medium term
- Better alignment of the risks, costs, rewards, and time of operating a vault
- Ensure the continuity and stability of experienced vault Operators
- Permit vaults to operate at higher (safer) collateral thresholds while still earning reasonable economics for their service to the protocol
- APR on vaults at 40-50% at 260% collateral levels; a level recommended by the Interlay team

**Why should the community vote in favor of this proposal?**

As a community, we all have a vested interest in the long-term success of the Interlay protocol. One of the elements of success requires an increase in the capital entering the protocol as well as supporting experienced vault operators who are the “heart of the Interlay bridge” and have borne significant risks helping the growth of the protocol from inception. Running a vault is a critical part of the ecosystem and carries risks, costs, resources, and ongoing time. It requires substantial capital commitment and is much more time intensive than running a collator or validator, for example, and as such, the emissions structure must reflect this.

In order to ensure the success of the protocol, there must be adequate rewards for the continued investment by these important stakeholders. We believe this proposal aligns the risks and rewards to an appropriate place for the short to medium term. It is a healthy balance between the initial emissions schedule and its extreme and unsustainable reduction affected by Referendum #33. We note that rewards to Vault Operators are already scheduled to decline by very substantial amounts each year (from 120mm INTR in year 1 to 30mm INTR in year 4).


Interlay is proposing to adjust the rewards for vault operators to prevent capital flight and maintain experienced vault infrastructure providers. The current reward structure is not sustainable or attractive given the requirements for vault operation and the risks involved. The proposal adjusts the Vault rewards to an appropriate risk and reward level and updates the block reward from 9.866085649312430 INTR to 35.6621004566 INTR. The proposal also suggests regular reviews and adjustments of vault economics. The expected result is to stem the flight of capital from the INTR Vault ecosystem, increase capital entering the protocol over the medium term, and ensure the continuity and stability of experienced vault operators. The community should vote in favor of this proposal to ensure the long-term success of the Interlay protocol.

Optimization of Vault Rewards

# UPDATE: Please vote NO/NAY on the proposal!
The Interlay team has recently discovered an issue with the XCM transfers implemented between Interlay and Statemint. Until the teams fix this, they recommend that everyone votes no on the referendum to activate USDT vaults to avoid loss of funds or USDT funds being blocked on Interlay.


A new type of vault can be activated using USDT via Statemint as collateral. More details below.

# Proposal
Based on the discussion post on Interlay [(https://interlay.subsquare.io/post/14)](https://interlay.subsquare.io/post/14), I propose the activation of USDT as a vault collateral on interlay.

**Please find below the parameter configuration proposed for the "USDT vaults":**

* Initial collateral ceiling: 200.000,00 USD equivalent
* Secure collateral threshold: 155%
* Premium redeem threshold: 145%
* Liquidation threshold: 135%
* Minimum collateral threshold: 150 USDT

## Resources:
USDT Asset Registered: https://interlay.subsquare.io/democracy/referendum/27
Interlay - Statemint XCM Channel: https://interlay.subsquare.io/democracy/referendum/32
Governance guides: https://docs.interlay.io/#/guides/governance (incl. how to make a proposal)
Python code used for analysis of new assets proposed as vault collateral: https://github.com/interlay/collateralization-analysis

Interlay has discovered an issue with XCM transfers between Interlay and Statemint, so they recommend voting no on the referendum to activate USDT vaults to avoid loss of funds or USDT funds being blocked on Interlay.

A new type of vault can be activated using USDT via Statemint as collateral.

The proposed parameter configuration for the "USDT vaults" includes an initial collateral ceiling of 200.000,00 USD equivalent, secure collateral threshold of 155%, premium redeem threshold of 145%, liquidation threshold of 135%, and minimum collateral threshold of 150 USDT.

Resources such as USDT Asset Registered, Interlay - Statemint XCM Channel, Governance guides, and Python code used for analysis of new assets proposed as vault collateral are available.

Activation of USDT as a Vault collateral on Interlay

This proposal accounts for the threshold adjustment mentioned in the original discussion post here: [https://interlay.subsquare.io/post/12](https://interlay.subsquare.io/post/12)

The initial proposal includes the reduction of token emissions but not the threshold reductions: [https://interlay.subsquare.io/democracy/proposal/35](https://interlay.subsquare.io/democracy/proposal/35)

### This proposal is to change the secure threshold levels as follows:

**Current values DOT <> IBTC**
liquidation: 150%
premium-redeem: 200%
secure (min. when minting): 260%

**Proposed new values DOT <> IBTC**
liquidation: 125%
premium-redeem: 140%
secure (min. when minting): 155%

This change **reduces the capital requirements of Vaults by ~40%**.

For more information on the meaning of individual thresholds, see [Vault collateral thresholds](https://docs.interlay.io/#/vault/overview?id=collateral).


**Request for the TC:**
Please upgrade this proposal to referendum manually, as this should have gone together with [the token reduction proposal](https://interlay.subsquare.io/democracy/proposal/35).

Interlay has proposed a change to the secure threshold levels for DOT <> IBTC. This change will reduce the capital requirements of Vaults by approximately 40%. The current values for liquidation, premium-redeem, and secure (min. when minting) are 150%, 200%, and 260%, respectively. The proposed new values for these thresholds are 125%, 140%, and 155%, respectively. The proposal has been requested to be upgraded to a referendum manually. For more information on the meaning of individual thresholds, please see Vault collateral thresholds.

Follow Up to Proposal #35 - threshold reduction

**The relevant discussion:** [https://interlay.subsquare.io/post/12](https://interlay.subsquare.io/post/12)

## Tl;dr.

- INTR Vault block rewards are currently too high, considering market conditions and in comparison to competitors / projects with similar risk profile.

- This proposal suggests to adjust Vault block rewards to a more sustainable level, updating the DOT collateral requirements to competitive and more capital-efficient rates, and introducing regular review cycles to assess ROI for protocol and Vault operators.

- The saved funding will remain with the network treasury, to be used as governance decides, e.g.. to bootstrap iBTC growth as market conditions improve and help build liquidity in the native AMM and lending protocols set to launch on Kintsugi and Interlay in early 2023 (more details in upcoming Interlay 2.0 whitepaper - [read 2.0 roadmap announcement](https://medium.com/interlay/interlay-2-0-roadmap-c6387d9d1abb)).



## Goal
The goal of this proposal is to adjust Vault block reward rates to be more sustainable while keeping incentives for operators high enough - and more reliable.

## Solution
**1) Reduce collateral thresholds.**
The latest collateral risk models [1] suggest the following collateral thresholds for DOT (on Interlay):

- liquidation: 125%
- premium-redeem: 140%
- secure (min. when minting): 155%

This change **reduces the capital requirements of Vaults by ~40%**.

For more information on the meaning of individual thresholds, see [2]

**2) Adjust Vault block rewards to competition.**
The proposal is to adjust the Vault rewards such that:

**APR on Interlay is ~25%** assuming the amount of collateral locked at the time of this proposal. This proposal updates the block reward from 45.6621004566 INTR to 9.866085649312430 INTR.

**3) Regular Review & Adjustment of Vault Economics.**
Rather than having a static model, we propose that Vault economics be reviewed on a regular basis, allowing to react and adjust for external/macroeconomic events.

The community, including Vault operators, can make recommendations/requests to adjust the Vault rewards schedule via the Governance portal (guides provided).

The process to adjust rewards will be greatly simplified over the next months with upcoming improvements to governance (more details are in [the Interlay 2.0 whitepaper](https://medium.com/interlay/interlay-2-0-roadmap-c6387d9d1abb)).

## Expected Result
The optimization of collateral thresholds combined with the adjusted reward schedule is expected to reduce emissions as follows:

- INTR emission by ~79%

## Why should community vote in favor of this proposal?
This proposal makes a big step to improving the economic stability and outlook of Interlay.

The current emission schedule was conceived during a growing crypto market, in anticipation of reaching significant iBTC targets by EOY 2022. However, due to recent macro-economic events in crypto (Luna, 3AC, Celsius and now FTX), as well as the two hacks (Nomad impacting Moonbeam and aUSD on Acala) affecting Polkadot, the growth of DeFi on Dotsama has not been as fast as hoped. As a result, kBTC and iBTC utilization rates are low, with most BTC sitting on Kintsugi/Interlay.

The high initial emission was also a measure to reward early technical risk and to cover the high collateral requirements imposed at launch (260% over-collateralization for KSM/DOT Vaults). The technical risk of the bridge can be considered significantly reduced by now. The bridge has been operating successfully since March 2022 on Kintsugi and since August 2022 on Interlay, withstanding the recent market turbulences. The removal of the aggressive BTC theft reporting [4] has also greatly reduced the risk of wrongfully slashing Vaults. The proposed reduction of collateral thresholds to competitive rates also constitutes a big step towards Vault capital efficiency.

### References
[1] Interlay Vault collateral risk modelling framework. [https://github.com/interlay/collateralization-analysis](https://github.com/interlay/collateralization-analysis)

[2] Vault collateral thresholds. [https://docs.interlay.io/#/vault/overview?id=collateral](https://docs.interlay.io/#/vault/overview?id=collateral)

[3] APR comparison to similar projects. [https://api.ipfsbrowser.com/ipfs/get.php?hash=QmPhP8utFLhharELDeN6Njbc2234DGxnc4A73wxf2JHwPJ](https://api.ipfsbrowser.com/ipfs/get.php?hash=QmPhP8utFLhharELDeN6Njbc2234DGxnc4A73wxf2JHwPJ)

[4] Kintsugi proposal discussing removing theft-reporting. [https://kintsugi.subsquare.io/democracy/referendum/52](https://kintsugi.subsquare.io/democracy/referendum/52)

Interlay has proposed to adjust Vault block rewards to a more sustainable level, updating the DOT collateral requirements to competitive and more capital-efficient rates, and introducing regular review cycles to assess ROI for protocol and Vault operators.

The saved funding will remain with the network treasury, to be used as governance decides, e.g.. to bootstrap iBTC growth as market conditions improve and help build liquidity in the native AMM and lending protocols set to launch on Kintsugi and Interlay in early 2023.

The proposal suggests reducing collateral thresholds, which will reduce the capital requirements of Vaults by ~40%.

The proposal is to adjust the Vault rewards such that APR on Interlay is ~25% assuming the amount of collateral locked at the time of this proposal.

The optimization of collateral thresholds combined with the adjusted reward schedule is expected to reduce emissions by ~79%.

Adjustment to Vault Reward Schedule on Interlay

**Summary:**
This proposal is for accepting the Statemint to Interlay part of the XCM channel and finalising the XCM connection.
The reason we are resubmitting is due to the fact that the [first referendum on parity side](https://polkadot.polkassembly.io/referendum/74) failed and needed to be resubmitted and executed under [https://polkadot.polkassembly.io/referendum/82](https://polkadot.polkassembly.io/referendum/82)

**Request for upgrade to 4h referendum:**
I would like to make a request to fast-track this to a 4h referendum since this proposal has already been voted in referendum and has passed before.

- This is a proposal about accepting something called Statemint to Interlay and finalising XCM connection.
- The first referendum on parity side failed and needed to be resubmitted and executed under a new referendum.
- The person making the proposal wants it to be fast-tracked to a 4h referendum.
- This proposal has already been voted on and passed before.
- The proposal is important for connecting different parts of Polkadot.

Open XCM Channel with Statemint - Part 2/2 - HRMP Accept [Resubmission]

Updates Interlay to the latest runtime (**non-breaking**). This contains, but is not limited to, the following changes:

Updates core dependencies to `polkadot-v0.9.29`

For more details, please see the following:

https://github.com/interlay/interbtc/releases/tag/1.19.1
https://github.com/paritytech/polkadot/releases/tag/v0.9.29

The latest compatible clients release for this version is `v1.17.5`:

https://github.com/interlay/interbtc-clients/releases/tag/1.17.5



Upgrade to runtime v1.19.1

Summary
This proposal will send 312,000 INTR tokens from treasury to the Arthswap designated address to be used for the iBTC/DOT pool on Arthswap (Astar).   
We suggest launching a DOT pair as it’s a Polkadot-native asset like iBTC, which already has good liquidity on ArthSwap and should have low IL risk considering the high correlation, taking into account the community’s vote too.
Proposal
As iBTC has recently launched, It is important to provide and enable more use cases for users issuing iBTC as well as increase iBTC liquidity to unlock potential use cases on other parachains. 
A first step towards this is the iBTC/DOT pool on Arthswap (Astar), which will also be the first step towards potentially considering iBTC as a collateral on lending/borrowing platforms such as SiO2 and Starlay on Astar. 
The goal is to incentivise this pool for 3 months. We propose the transfer of 312,000 INTR tokens from the Interlay Treasury to our (Astar) designated wallet address mentioned below in order to be used as incentives for the iBTC/DOT pool.
To better support this effort and achieve considerable TVL, we will match the rewards with 2,934,000 ARSW for the same 3 month period. The Multiplier, the weight of the percentage for the ARSW farming reward distribution to the pool, will change according to the liquidity, starting with a multiplier of 1. The more liquidity is in the pool, the higher we will set the multiplier and the rewards that are contributed by ArthSwap.
* If the pool size doesn’t hit the line which changes the multiplier, we don’t use all allocation above. In this case, ArthSwap team will refund unused reward allocation of INTR to Interlay Treasury.
 
Line of the multiplier
If the pool size hits X, the multiplier gets changed to Y.
X -> Y
At the first stage -> 5
50,000 -> 10
150,000 -> 30
Once the funds are transferred to the address below, they will be added as incentives to the iBTC/DOT pool. 
Arthswap Designated Address: 5FTWbbfWyH1ejBHoUUUi31TRaNPA1yucsmBJ5YaJNZ2XdiCz

Requesting upgrade to referenda
We request that this proposal be instantly promoted to a public referendum by the TC. Once upgraded to a referendum there will be 7 days of voting. If successful, the referendum will execute and the funds will be transferred to the above-mentioned address. 


- A proposal suggests sending tokens to a designated address for the iBTC/DOT pool on Arthswap.
- The goal is to increase iBTC liquidity and enable more use cases for users.
- The proposal includes transferring 312,000 INTR tokens from the Interlay Treasury and matching rewards with 2,934,000 ARSW for a 3-month period.
- The multiplier for ARSW farming reward distribution will change according to liquidity.
- The proposal requests an upgrade to a public referendum for a 7-day voting period.

Use Treasury Funds To Incentivise iBTC/DOT pool on Arthswap (Astar)

Summary
This proposal will send 42,000 INTR tokens from treasury to the Arthswap designated address to be used for the INTR/DOT pool on Arthswap (Astar).   
We suggest launching a DOT pair as it’s a Polkadot-native asset like INTR, which already has good liquidity on ArthSwap and should have low IL risk considering the high correlation, taking into account the community’s vote on INTR pools, too.
Proposal
As iBTC has recently launched, It is important to provide and enable more use cases for users issuing iBTC as well as increase iBTC liquidity to unlock potential use cases on other parachains. 
One of the first steps towards potentially considering iBTC as a collateral on lending/borrowing platforms such as SiO2 and Starlay is to build up sufficient liquidity for iBTC and enable more users to mint iBTC on Interlay. This requires some initial INTR liquidity on other parachains so that users can buy INTR for governance or transaction fees.
Hence, we propose to set up and incentivise an INTR/DOT pool on Arthswap (Astar).
The goal is to incentivise this pool for 3 months. We propose the transfer of 42,000 INTR tokens from the Interlay Treasury to our (Arthswap) designated wallet address mentioned below in order to be used as incentives for the INTR/DOT pool.
To better support this effort and achieve considerable TVL, we will match the rewards with 489,000 ARSW for the same 3 month period. The Multiplier, the weight of the percentage for the ARSW farming reward distribution to the pool, will change according to the liquidity, starting with a multiplier of 1. The more liquidity is in the pool, the higher we will set the multiplier and the rewards that are contributed by ArthSwap.
* If the pool size doesn’t hit the line which changes the multiplier, we don’t use all allocation above. In this case, ArthSwap team will refund unused reward allocation of INTR to Interlay Treasury.
 
Line of the multiplier
If the pool size hits X, the multiplier gets changed to Y.
X -> Y
At the first stage -> 1
10,000 -> 10
30,000 -> 15
Once the funds are received to the address below, they will be added as incentives to the INTR/DOT pool. 
Arthswap Designated Address: 5FTWbbfWyH1ejBHoUUUi31TRaNPA1yucsmBJ5YaJNZ2XdiCz

Requesting upgrade to referenda
We request that this proposal be instantly promoted to a public referendum by the TC. Once upgraded to a referendum there will be 7 days of voting. If successful, the referendum will execute and the funds will be transferred to the above-mentioned address. 

- Interlay proposes to send 42,000 INTR tokens to Arthswap for the INTR/DOT pool.
- This will increase liquidity for iBTC and enable more users to mint iBTC on Interlay.
- Arthswap will match the rewards with 489,000 ARSW for a 3-month period.
- The rewards will change according to the liquidity of the pool.
- The proposal needs to be upgraded to a public referendum for voting.

Use Treasury Funds To Incentivise INTR/DOT pool on Arthswap (Astar)

Untitled - public proposal #30

Period: [June 14th]→ [October 10th]Link to previous Discussion: <a href="https://interlay.subsquare.io/democracy/proposal/21" rel="noopener noreferrer" target="_blank">https://interlay.subsquare.io/democracy/proposal/21</a> Link to total amounts of INTR [Google sheets]: <a href="https://docs.google.com/spreadsheets/d/1ZTGxdVcwm4vBvLDQUp1wotwxJ13Jg6tAnabS_beu_hY/edit?usp=sharing" rel="noopener noreferrer" target="_blank">https://docs.google.com/spreadsheets/d/1ZTGxdVcwm4vBvLDQUp1wotwxJ13Jg6tAnabS_beu_hY/edit?usp=sharing</a>&nbsp;<h4>Brief [23rd September]</h4>The new Innovators program enables active and trusted community members to earn rewards for contributing to the success of Interlay &amp; Kintsugi, whilst also helping further the sustainable development of our community.Its early participants, called <a href="https://www.notion.so/interlay/Interlay-Innovator-Hub-50018144baa542b5a958c8d8d060729b" rel="noopener noreferrer" target="_blank">Explorers and Innovators</a>, have assisted the Interlay community by executing a number of activities, including but not limited to, creating communities in other key regions across the globe, creating educational videos regarding the iBTC product and even playing an important role in the crucial and much needed product feedback. No work should go unrewarded, this proposal will ensure that the owed INTR is sent to each Explorer / Innovator who’ve completed work within the programme. <h4>One-Off Grants [Not taken from the main 3-month budget of $4500]</h4>Summary of payment: This payment is for the main community founders. These key members have been core members since the launch of the community. Their previous role as ‘Community Councillor’ served as an advisor to the internal Interlay team, helping create the current communities we have today. This month's list of One-Off Grants&nbsp;<ol><li data-list="bullet">Discord ID: Chouchou</li><li data-list="bullet" class="ql-indent-1">Justification: One of the founding members of the Interlay and Kintsugi communities. As well as being a core member of the community and helping aid the initiatives we’ve created, Chouchou has been a pillar with the creation, maintenance and constant improvement of the Chinese-speaking community.</li></ol> Chouchou has been an integral part of the Chinese community, helping out in a number of different and varied ways;<ol><li data-list="bullet">Helping host multiple events for the Chinese community</li><li data-list="bullet">Helping host and coordinate AMAs’s for the Chinese community</li><li data-list="bullet">Providing constructive &amp; helpful feedback towards both the overall community and, more specifically, the newly launched Innovator programme</li><li data-list="bullet">Helping translate key tasks and information into Chinese</li><li data-list="bullet">Moderating and maintaining all the Chinese-speaking community channels, specifically the TG, WeChat &amp; Discord.</li><li data-list="bullet">Ensuring clear channels of comms between the community &amp; the community manager, thus relaying information to the internal team.</li></ol> <ol><li data-list="bullet">Total payment in INTR: 29,779</li><li data-list="bullet">Value of INTR in [USD]: $1000</li></ol> <ol><li data-list="bullet">Discord ID: GodsHunter</li><li data-list="bullet" class="ql-indent-1">Justification: Another core community member, whilst also being one of the founding members of the Interlay and Kintsugi communities. GodsHunter has been an incredible help and key player with the founding, creation and maintenance of the CIS Region speaking community.&nbsp;</li></ol> GodsHunter has been a key player in the launch and maintenance of the CIS Speaking community, helping out in a number of different ways such as;<ol><li data-list="bullet">Translating key information for the CIS-speaking community</li><li data-list="bullet">Providing constructive feedback regarding the overall status of the community as well as feedback regarding the Innovator programme.</li><li data-list="bullet">Has helped host multiple CIS-speaking AMA’s and community calls</li><li data-list="bullet">Has ensured that the communities needs, specifically the CIS Speaking needs, are relayed effectively to the community manager, thus eventually being forwarded onto the team.</li></ol> <ol><li data-list="bullet">Total payment in INTR: 29,779</li><li data-list="bullet">Value of INTR in [USD]: $1000</li></ol> <h4>One-Off payment to newly Onboarded Innovators</h4>Summary of payment: This payment is for the community members who have been successful in making it to the rank of ‘Innovator’. As a welcome, Innovators are granted $500 USD worth of INTR at that specific time when the snapshot is taken. <ol><li data-list="bullet">Discord ID: RosislavTsoy#4148</li><li data-list="bullet" class="ql-indent-1">Justification: One of the first newly onboarded Innovators, Rostislav has become a key player in the Innovator programme. Currently, the top performing Innovator, racking up an amazing 162 points, he’s currently claimed the top spot, pointwise, within the programme as well as placing 1st place in the Monthly Top Contributor List. Rostislav has completed a varied range of tasks, ranging from translations, video creations and even creating their own articles on medium, helping to promote important integrations.</li><li data-list="bullet" class="ql-indent-1"> </li><li data-list="bullet" class="ql-indent-1">Rostislav has provided critical feedback towards the DeWork &amp; has helped stress test the programme, undertaking tasks, discovering bugs within the DeWork and providing critical feedback, helping us move the programme out of its trial era into the main spotlight.</li></ol> <ol><li data-list="bullet">Total payment in INTR: 14,889</li><li data-list="bullet">Value of INTR in [USD]: $500</li></ol> <ol><li data-list="bullet">Discord ID: Marvel#5748</li><li data-list="bullet" class="ql-indent-1">Reason for payment: Marvel also joins the ranks as one of the first to be onboarded into the new programme. Currently leading the FR speaking community, Marvel has been a key player in the creation, help and maintenance of the FR Speaking community, taking on a clear role in video creation, translations and many more tasks which are crucial to Interlay &amp; Kintsugi’s marketing strategy.</li></ol> Marvel has also, alongside the other Innovators, played a role in helping trial and stress test the programme, allowing us to produce the content we have today. <ol><li data-list="bullet">Total payment in INTR: 14,889</li><li data-list="bullet">Value of INTR in [USD]: $500</li></ol><h4>Monthly Bounty Rewards</h4>Summary of payment: This payment is for the main DeWork bounty rewards, these payments are taken from the initial 65,000 INTR [$4500] budget.&nbsp; Link to DeWork Leaderboard: <a href="https://app.dework.xyz/interlay/contributors" rel="noopener noreferrer" target="_blank">https://app.dework.xyz/interlay/contributors</a>&nbsp; <ol><li data-list="bullet">Discord ID: RosislavTsoy#4148 INNOVATOR</li><li data-list="bullet" class="ql-indent-1">Total value of bounties completed:</li><li data-list="bullet" class="ql-indent-2">9783 INTR [$330]</li><li data-list="bullet" class="ql-indent-2">Task Points: 162</li></ol> <ol><li data-list="bullet">Discord ID: Marvel#5748 INNOVATOR</li><li data-list="bullet" class="ql-indent-1">Total value of bounties completed:</li><li data-list="bullet" class="ql-indent-2">3112 INTR [$105]</li><li data-list="bullet" class="ql-indent-2">Task Points: 45</li></ol> <ol><li data-list="bullet">Discord ID: Selotkin EXPLORER</li><li data-list="bullet" class="ql-indent-1">Total value of bounties completed:</li><li data-list="bullet" class="ql-indent-2">1630 INTR [$55]</li><li data-list="bullet" class="ql-indent-2">Task Points: 40	</li></ol> <ol><li data-list="bullet">Discord ID: Artur252010 INNOVATOR</li><li data-list="bullet" class="ql-indent-1">Total value of bounties completed:</li><li data-list="bullet" class="ql-indent-2">297 INTR [$10]</li><li data-list="bullet" class="ql-indent-2">Task Points: 3</li></ol> <h4>Top Monthly DeWork Contributors - Bonus Reward</h4> Summary of payment: The top 3 contributors of the DeWork!&nbsp; <ol><li data-list="ordered">RostislavTsoy		$30 [893 INTR]</li><li data-list="ordered">Marvel					$15 [446 INTR]</li><li data-list="ordered">Selotkin				$10 [297 INTR]</li></ol> <h4>TOTALS &amp; INTR Addresses</h4> Link to google sheets: <a href="https://docs.google.com/spreadsheets/d/1ZTGxdVcwm4vBvLDQUp1wotwxJ13Jg6tAnabS_beu_hY/edit#gid=0" rel="noopener noreferrer" target="_blank">https://docs.google.com/spreadsheets/d/1ZTGxdVcwm4vBvLDQUp1wotwxJ13Jg6tAnabS_beu_hY/edit#gid=0</a>&nbsp; <ol><li data-list="bullet">Chouchou</li><li data-list="bullet" class="ql-indent-1">Total in INTR 29779</li><li data-list="bullet" class="ql-indent-1">INTR Address wdAaQdE1AuyW8xism5HWNUrKoHPhRPtcpzeexaaXPXXhcMuQ8</li></ol> <ol><li data-list="bullet">GodsHunter</li><li data-list="bullet" class="ql-indent-1">Total in INTR 29779</li><li data-list="bullet" class="ql-indent-1">INTR Address wdBPpxNAhnU3Pcp2KLfSxPqjFXxszyQZnhKpkCDCWTbmSxdaK</li></ol> <ol><li data-list="bullet">RostislavTsoy</li><li data-list="bullet" class="ql-indent-1">Total in INTR 25565</li><li data-list="bullet" class="ql-indent-1">INTR Address wdBdoJEsbqe8rbygNWBcBoKesvru6HvZ8KDmv65cMErAgcaCJo</li></ol> <ol><li data-list="bullet">Marvel</li><li data-list="bullet" class="ql-indent-1">Total in INTR 18447</li><li data-list="bullet" class="ql-indent-1">INTR Address wdAAsTcKCiSZ3jicYk61twuqciELyPTAer67UY3quTHa9GzXN</li></ol> <ol><li data-list="bullet">Selotkin</li><li data-list="bullet" class="ql-indent-1">Total in INTR 1927</li><li data-list="bullet" class="ql-indent-1">INTR Address wdBgNt6eApSovzh9M9eimBHzm2CbdbeGABDv9RYaNVMvcsUc6</li></ol> <ol><li data-list="bullet">Artur252010</li><li data-list="bullet" class="ql-indent-1">Total in INTR 297</li><li data-list="bullet" class="ql-indent-1">INTR Address wd7WhRHZDrmT35DEqJVw24SSu2N8JeEMmX2kYwSx5DwHBqzyf</li></ol> <img src="https://lh6.googleusercontent.com/CiWPRZb3t0S6WrJwHWsmk6VmPj_usRd8_j8DPOoK6FuqgGBAOlA0__6TyKiOyaPURb_FCjDWketWpNSoldF-Y-rPQLSC2kJKVbrNKXBhxvwWLWcq13i82KaD37YrJcjMOqV7SplY5P_0GsfR0W1w_08t4sNYb2hi9LPtSJt_akgcSPWqValhbm9PXA" height="349" width="602"> <h4>Resources / links</h4><ol><li data-list="bullet">Contributor List:</li></ol>	<a href="https://app.dework.xyz/interlay/contributors" rel="noopener noreferrer" target="_blank">https://app.dework.xyz/interlay/contributors</a>&nbsp;&nbsp; <ol><li data-list="bullet">Totals &amp; Spreadsheets</li></ol><a href="https://docs.google.com/spreadsheets/d/1ZTGxdVcwm4vBvLDQUp1wotwxJ13Jg6tAnabS_beu_hY/edit#gid=0" rel="noopener noreferrer" target="_blank">https://docs.google.com/spreadsheets/d/1ZTGxdVcwm4vBvLDQUp1wotwxJ13Jg6tAnabS_beu_hY/edit#gid=0</a> <ol><li data-list="bullet">Link to Ambassador Hub</li></ol>			<a href="https://www.notion.so/interlay/Interlay-Innovator-Hub-50018144baa542b5a958c8d8d060729b" rel="noopener noreferrer" target="_blank">https://www.notion.so/interlay/Interlay-Innovator-Hub-50018144baa542b5a958c8d8d060729b</a>

Interlay has a program called Innovators that rewards community members for contributing to the success of Interlay & Kintsugi. The program has early participants called Explorers and Innovators who have assisted the Interlay community by executing a number of activities. The proposal ensures that the owed INTR is sent to each Explorer/Innovator who has completed work within the program. There are one-off grants for the main community founders, and newly onboarded Innovators are granted $500 USD worth of INTR. Monthly bounty rewards are given to the main DeWork bounty rewards. The top 3 contributors of the DeWork receive bonus rewards.

Innovator Programme Report - Request for Treasury Grants: 10th October

**Summary**
We would like to register $USDt on Interlay as a first step towards considering it as a Vault collateral and to facilitate other ongoing developments.

**Proposal**
Enabling this kind of asset on Interlay will allow users to adopt less risky positions with potentially tighter collateral thresholds which should eventually increase the system-wide minting capacity.

We request that TC upgrade this proposal directly to a referendum.

**Resources**
HRMP ACCEPT: https://interlay.subsquare.io/democracy/referendum/25

- Interlay wants to add USDt to their platform.
- This will help users take less risky positions and increase the system's capacity.
- They want the proposal to be upgraded to a referendum.
- The proposal has been accepted by HRMP.
- You can find more information at the provided link.

Register USDT as a foreign asset on Interlay

Breaking release to update Interlay to the latest runtime. This contains, but is not limited to, the following changes:

- Vaults can now self-redeem (burn iBTC for unlocking collateral) without sending BTC
- Removed the refund protocol since theft reporting was already eliminated
- Issue requests can now be executed after expiry if the Vault has sufficient collateral
- Allows issue requests to be cancelled prematurely by the user (may slash griefing collateral)
- Collators can now lock vINTR to register as an authority
- Adds generic registry to store client release info (for auto-updater)
- Includes all relevant changes to support polkadot-v0.9.26


**For more details, please see the following:**
- https://github.com/interlay/interbtc/releases/tag/1.19.0
- https://github.com/interlay/interbtc-clients/releases/tag/1.17.3
- https://github.com/paritytech/polkadot/releases/tag/v0.9.26

Interlay has updated its system to the latest version. Here are the changes:
- Vaults can now redeem without sending BTC
- Refund protocol has been removed
- Issue requests can be executed after expiry if the Vault has enough collateral
- Issue requests can be cancelled by the user
- Collators can now lock vINTR to register as an authority. 

For more information, check out the links below:
- https://github.com/interlay/interbtc/releases/tag/1.19.0
- https://github.com/interlay/interbtc-clients/releases/tag/1.17.3
- https://github.com/paritytech/polkadot/releases/tag/v0.9.26

Upgrade to runtime v1.19.0

This proposal is for accepting the Statemint to Interlay part of the XCM channel and finalising the XCM connection.

Request for upgrade to referendum:
We would like to move quickly with opening the channel in order to continue work on integrating new assets from Statemint (e.g. USDT). Therefore, we request that this proposal is upgraded to a 7 day referendum.

Open XCM Channel with Statemint - Part 2/2 - HRMP Accept

Proponent: wdCFPKUXJ6fPAUEWkjTTrVDe8khjp4NLmQu2ruDRSM488JEmq (web3alert.io) 
Date: 15.09.2022
Requested INTR: 4428 EUR / 0.049491 = 89 470 INTR (based on 7day avg rate by Coingecko)
Short description: Web3alert.io maintenance costs for Interlay integration from 15 September 2022 to 15 March 2023 at the rate of 600 EUR/month (+ VAT).

https://web3alert.io is a service that listens for events on blockchain Interlay and sends notifications about them to messengers. At the moment, Web3alert supports Telegram, Discord and Slack.
[See full proposal here](https://docs.google.com/document/d/1u5I1_ODlpUzPVMrp7NEzRP4xNdCuLKQsMcD4T7s-7oc/edit?usp=sharing)

![1](https://i.postimg.cc/8P91C7Wx/Screenshot-2022-09-15-at-16-43-31.png)

Web3alert.io is a service that listens for events on blockchain Interlay and sends notifications about them to messengers like Telegram, Discord and Slack. 

Web3alert.io needs maintenance costs for Interlay integration from 15 September 2022 to 15 March 2023 at the rate of 600 EUR/month (+ VAT).

The requested INTR for this maintenance is 4428 EUR / 0.049491 = 89 470 INTR (based on 7day avg rate by Coingecko).

The proposal is made by wdCFPKUXJ6fPAUEWkjTTrVDe8khjp4NLmQu2ruDRSM488JEmq and you can see the full proposal by clicking on the link provided.

Treasury spend for Maintenance of web3alert.io Interlay integration for 6 months.

This proposal is for accepting the Astar to Interlay part of the XCM channel and finalising the XCM connection.

Request for upgrade to referendum:
We would like to move quickly with opening the channel in order to enable and facilitate future use cases for iBTC between Interlay and Astar. Therefore, we request that this proposal is upgraded to a 7 day referendum.

Open XCM Channel with Astar - Part 2/2 - HRMP Accept

This referendum opens the XCM channel to Statemint. This will allow assets to be transferred in between Interlay and Statemint and open a path towards more use cases for iBTC and more collateral assets for iBTC.

This is the first part of two referenda to open bi-directional communication with Statemint. The second referendum will accept the open channel to Interlay.

Note: Polkadot governance needs to pass a referendum as well to accept this open channel.

**TC Fast-track**

Since we want to proceed as quickly as possible with opening the channel to move the discussion to actual use cases for both communities, we request that this proposal be fast-tracked.


- SubSquare is proposing to open a channel between Interlay and Statemint.
- This will allow assets to be transferred between the two and create more use cases for iBTC.
- There will be two referenda for this proposal, with the first one being to open the channel to Statemint.
- Polkadot governance also needs to pass a referendum to accept this open channel.
- SubSquare is requesting that this proposal be fast-tracked to move towards actual use cases quickly.

Request To Open XCM channel with Statemint - Part 1/2 (HRMP INIT)

**Brief**
We want to reserve **[INTR]** tokens from the treasury to be used for paying contributors from the Interlay Innovator program as well as rewarding those who’ve previously made significant contributions to the community before the launch of the programme.

<ins>Please be aware</ins>
This initial proposal does not make any payments but only a way to approve the allocation of funds for the Innovator programme. All future payment requests will be submitted by community members as follow-up governance proposals.

**Detail**
Over the last month we’ve had the opportunity to trial & test the newly launched Innovator programme, onboarding several key members of the community to help ‘stress test’ the platform and suggest improvements before the main launch.

The Innovator programme is a way for community members to get involved and dive deeper into Interlay than ever before. A way to work alongside your fellow peers, completing paid bounties and tasks, ranging from marketing & community based tasks to even Dev grants via GitHub integration. If you’re unaware of the Innovator programme & what it entails, then please see the [link](https://medium.com/interlay/announcing-the-innovator-programme-1f311a5ec1df) here to familiarise yourself: 

We’re now ready for the main launch, the first step forward is to propose payment of our current trial testers as well as future members of the programme.

This initial proposal will suggest that we allocate INTR for 3 months worth of payments regarding the Innovator programme as well as payment to those currently trial-testing the programme for us.

**For the full fund breakdown & details, please see the attached link:**
https://docs.google.com/document/d/14a3TQLhnKxSYSkqV8G8QOVo_Rn1IMqf9KAczabzU_CQ/edit?usp=sharing

**Note:** Payment will be made in locked [Unvested] INTR [Subjected to vesting of 52 Weeks = 1 year]
**Note:** [This budget also includes payment for previous work done by key & integral members of the community who’ve helped found the Interlay & Kintsugi community].

This initial proposal will not transfer any funds or make any payments, however this is a general ‘one-off’ to ensure that support from the community is there and agree with allocating some budget and payment for those taking part in the Innovator programme now & in the future.

Payment for the Innovator programme will occur once per month. We will open up a discussion post with all the details for that months payment, this will include a link to a monthly report which tallies the list of everyone whos’ earned their locked [Unvested] INTR.

*Edit* - Request to upgrade to referendum

- Interlay has a program called the Innovator program for community members to complete paid tasks and bounties.
- The program has been tested and is now ready for the main launch.
- A proposal has been made to allocate INTR tokens from the treasury for 3 months worth of payments for the Innovator program and to pay those who have been trial-testing the program.
- The proposal also includes payment for previous work done by key members of the community.
- Payment for the Innovator program will occur once per month and will be made in locked INTR tokens.

Allocate the usage of treasury funds towards the newly launched ‘Innovator Programme’

**Summary**
This proposal will send 480k INTR tokens from treasury to the Beamswap designated address to be used for the iBTC/multiUSDC pool on Beamswap (Moonbeam).   
We suggest launching a multiUSDC pair as INTR and DOT do not have deep liquidity on Beamswap, and USDC enables easier assessment of impermanent loss risks, taking into account community’s vote too (link).

**Proposal**
As iBTC has recently launched, It is important to provide and enable more use cases for users issuing iBTC as well as increase iBTC liquidity to unlock potential use cases on other parachains. 
A first step towards this is the iBTC / multiUSDC pool on Beamswap (Moonbeam), which will also double as the first step towards potentially considering iBTC as a collateral on lending/borrowing platforms such as Moonwell. 
The goal is to incentivise this pool for 3 months. There are incentives already prepared for the first 15 days of the pool but extend this to 3 months, we We propose the transfer of 480k INTR tokens from the Interlay Treasury to our (Beamswap) designated wallet address mentioned below in order to be used as incentives for the iBTC/multiUSDC pool.
To better support this effort and achieve considerable TVL, we will match the rewards with 47,000,000 GLINT and 20,250 rTIDE for the same 3 month period.

Once the funds are received to the address below, they will be added as incentives to the iBTC / multiUSDC pool. 
**Beamswap Designated Address: 0x0a68f81Fe8c23cF19FD0f90be3734F68FF2EF451**

**Requesting upgrade to referenda**
To ensure that the incentives arrive within the 15 days from the pool launch,  we request that this proposal be instantly promoted to a public referendum by the TC. 
Once upgraded to a referendum there will be 7 days of voting. If successful, the referendum will execute and the funds will be transferred to the above mentioned address. 


- The proposal suggests sending 480k INTR tokens to a designated address for a pool on Beamswap.
- This will create more use cases for iBTC and increase its liquidity.
- The iBTC/multiUSDC pool will be incentivized for 3 months.
- The proposal requests an upgrade to a public referendum for a quick decision.
- If successful, the funds will be transferred to the designated address.

Use Treasury Funds To Incentivise iBTC / multiUSDC pool on Beamswap (Moonbeam) 

This proposal is for accepting the Parallel to Interlay part of the XCM channel and finalising the XCM connection.

Request for upgrade to referendum:
We would like to move quickly with opening the channel in order to enable and facilitate future use cases for iBTC between Interlay and Parallel. Therefore, we request that this proposal is upgraded to a 7 day referendum. 

Open XCM Channel with Parallel - Part 2/2 - HRMP Accept

Hey Everyone StellaSwap here, with our first contribution to Interlay governance!

**Summary**
This proposal will send INTR tokens from treasury to the Stellaswap designated address to be used for the iBTC/GLMR pool on Stellaswap (Moonbeam).   


**Proposal**

As iBTC has recently launched, It is important to provide and enable more use cases for users issuing iBTC as well as increase iBTC liquidity to unlock potential use cases on other parachains. 

A first step towards this is the iBTC / GLMR pool on Stellaswap (Moonbeam), which will also double as the first step towards potentially considering iBTC as a collateral on lending/borrowing platforms such as Moonwell. 

The goal is to incentivise this pool for 3 months. There are incentives already prepared for the first 15 days of the pool but extend this to 3 months, we propose the transfer of 400k INTR tokens from the Interlay Treasury to our (StellaSwap) designated wallet address mentioned below in order to be used as incentives for the iBTC/GLMR pool.

Once the funds are received to the address below, they will be added as incentives to the iBTC/GLMR pool. 
StellaSwap Designated Address: 0x4300e09284e3bB4d9044DdAB31EfAF5f3301DABa

**Requesting upgrade to referenda**

To ensure that the incentives arrive within the 15 days from the pool launch,  we request that this proposal be instantly promoted to a public referendum by the TC. 

Once upgraded to a referendum there will be 7 days of voting. If successful, the referendum will execute and the funds will be transferred to the above mentioned address. 


- StellaSwap wants to use INTR tokens from the Interlay Treasury to incentivize a new iBTC/GLMR pool on their platform.
- This will help increase iBTC liquidity and potentially make it a collateral on lending/borrowing platforms.
- StellaSwap has already prepared incentives for the first 15 days of the pool, but they want to extend it to 3 months.
- They are requesting an upgrade to a public referendum by the TC to ensure the incentives arrive within 15 days from the pool launch.
- If successful, the referendum will execute and the funds will be transferred to StellaSwap's designated address.

Use Treasury Funds To Incentivise iBTC / GLMR pool on StellaSwap (Moonbeam) - public proposal #19

**Summary**
We would like to register $LDOT as an asset on Interlay as a first step towards considering it as a vault collateral and to facilitate other developments on Karura and Interlay side.

**Proposal**
Several parachains have already developed or enabled a way for users to stake their DOT while still being liquid. This has been done via liquid tokens, one of them being LDOT. 
Enabling this kind of asset will mean more capacity for vaults using their LDOT as collateral but also that vaults can compound the earnings they are already getting by staking DOT. 

We would like to register the asset fairly quickly in order to have as much time as possible for tests. Therefore, we request that this proposal be upgraded directly to a referendum.

**Resources**
Interlay Governance 101: https://docs.interlay.io/#/interlay/governance
Governance guides: https://docs.interlay.io/#/guides/governance (incl. how to make a proposal)

- Interlay wants to add a new asset called LDOT to their platform.
- LDOT is a liquid token that allows users to stake their DOT while still being able to use it.
- Adding LDOT will allow for more capacity for vaults using it as collateral.
- It will also allow vaults to earn more by staking DOT.
- Interlay wants to add LDOT quickly and is requesting that this proposal be upgraded directly to a referendum.

Register LDOT as a foreign asset on Interlay

This referendum opens the XCM channel to Astar. This will allow assets to be transferred in between Interlay and Astar and open a path towards more use cases for iBTC.

This is the first part of two referenda to open bi-directional communication with Astar. The second referendum will accept the open channel to Interlay.

Note: Astar needs to pass a referendum as well to accept this open channel.

Request for upgrade to referendum
Since we want to proceed as quickly as possible with opening the channel so we can move the discussion to actual use cases for both communities, we request that this proposal be upgraded to referendum. 

- XCM channel will be opened to Astar
- Assets can be transferred between Interlay and Astar
- This will create more use cases for iBTC
- There will be two referenda, one for each direction of communication
- Astar needs to pass a referendum as well to accept the open channel

Request To Open XCM channel with Astar - Part 1/2 (HRMP INIT)

> This is a low risk change but high impact gain to be had on reducing friction to issuance. Please consider for fast track.

## Brief
To aid with issuance of IBTC, we should consider changing the issue deadline parameter back to original `24 Hours` value originally intended. 

## Detail
|Value|Current|Proposed|
|---|---|---|
|`issue.issuePeriod`|`14,400`|`7200`|

Currently the block time hovers around 12-13s, however assuming an optimistic 12 seconds:
```
14,400 blocks x 12second per block = 172800 Seconds
172800 seconds = 48 Hours
```
Therefore:
```
7200 block delay = 24 Hours
```

## Explanation
During some of Kintsugi's days there was high BTC network congestion. The deadline is split into issue and redeem, however so only griefing collateral is at stake (which is capped currently at writing at 0.5%) so there is no risk that decreasing this deadline will jeopardise interlay vaults. 

The benefit to be had from decreasing this deadline though, is that  any: unintended, malevolent or trollish issue requests will be rejected by the system quicker and allow for the corresponding vault collateral to be unsealed in half the time.

- The post talks about making it easier and faster to issue IBTC.
- They suggest changing a parameter to its original value of 24 hours.
- Currently, the delay is 14,400 blocks which is around 48 hours.
- Lowering the delay to 7,200 blocks will reduce the time to 24 hours.
- This change will not cause any risk to interlay vaults and will help reject any bad requests faster.

Change Issue deadline to 24hours

Proposal

This referendum opens the XCM channel to Parallel. This will allow assets to be transferred in between Interlay and Parallel and open a path towards more use cases for iBTC.

This is the first part of two referenda to open bi-directional communication with Parallel. The second referendum will accept the open channel to Interlay.

Note: Parallel needs to pass a referendum as well to accept this open channel.

TC Fast-track
Since we want to proceed as quickly as possible with opening the channel so we can move the discussion to actual use cases for both communities, we request that this proposal be fast-tracked. 

- A referendum is like a vote to decide if two groups can share things between them.
- This referendum is about letting two groups, Interlay and Parallel, share things called assets.
- This is the first part of two referenda to let them share things both ways.
- Both groups have to agree for this to happen.
- They want to make this happen quickly so they can start using it for different things.

Request To Open XCM channel with Parallel - Part 1/2 (HRMP INIT)

## Brief
> Request for this to be fast tracked due to on-going activity hampering new issuance

Our griefing collateral is currently set to `0.005%` deposit. 
This proposal is to change it to `0.5%` to keep parity with Kintsugi's parameters.

## Detail

This proposal to to change the griefing collateral required when submiting new issue requests.
|Value | Current | Proposed|
|----|----|---|
|`fee.issueGriefingCollateral`|50,000,000,000,000|5,000,000,000,000,000|

## Further Reading
- https://docs.interlay.io/#/getting-started/interbtc?id=mint-and-redeem
- https://kintsugi.subsquare.io/democracy/proposal/45


- SubSquare is proposing a change to the amount of griefing collateral required when submitting new issue requests.
- The current amount is 0.005% deposit and the proposal is to change it to 0.5% to match Kintsugi's parameters.
- The proposed value for the griefing collateral is 5,000,000,000,000,000.
- This change is being requested due to ongoing activity hampering new issuance.
- For more information, you can check out the links provided to the Interlay and Kintsugi websites.

Raise Griefing Collateral % - public proposal #14

This proposal batches the HMRP accept from Equilibrium to Interlay and requests to open a HMRP channel from Interlay to Equilibrium.

TC Fast-track
Since we want to proceed as quickly as possible with opening the channel so we can move the discussion to actual use cases for both communities, we request that this proposal be fast-tracked. 

Open XCM Channel with Equilibrium - HRMP Accept and HRMP Request

### Summary

This proposal will set the DOT Vault Collateral Ceiling On Interlay to 2,450,000 DOT.

### Proposal


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.


- The proposal is about increasing the DOT Vault Collateral Ceiling on Interlay.
- The new ceiling will be 2,450,000 DOT, which is worth around 20,000,000 USD.
- This is needed for the launch of iBTC and to provide enough capacity for initial BTC liquidity growth.
- DOT is the main collateral for iBTC at launch.
- They are requesting TC fast-track to quickly set the initial system settings.

Set initial DOT Collateral Ceiling to 2,450,000 DOT

**Summary**
This proposal activates INTR Vault rewards on Interlay ahead of the estimated iBTC launch taking place on the 10th of August. This will start the vault reward distribution on the 11th of August in the morning. 


**Proposal**

The Interlay team has informed the community in a discussion post that the Vault rewards can be activated in anticipation of the iBTC launch on the 10th of August. 
See: https://interlay.subsquare.io/post/7 

The next step is hence to activate Vault rewards via an on-chain governance proposal. Once executed, this proposal will start distribution of vault rewards beginning with the 11th of August in the morning. 

**Requesting upgrade to referenda**

To ensure that everything will be ready for when the Interlay team is ready to launch iBTC on the 10th of August, we request that this proposal be instantly promoted to a public referendum by the TC (there are no other proposals in the pipeline anyway - no need to wait until next period). 

Once upgraded to a referendum there will be 7 days of voting. If successful, the referendum will execute approximately on the 10th of August. 





- Interlay team has informed the community about activating Vault rewards ahead of iBTC launch on August 10th.
- A proposal has been made to activate Vault rewards via on-chain governance.
- Vault rewards distribution will start on August 11th in the morning.
- The proposal is being requested to be instantly promoted to a public referendum by the TC.
- If successful, the referendum will execute around August 10th after 7 days of voting.

Activate INTR Rewards for Vaults on Interlay

https://github.com/interlay/interbtc/releases/tag/1.18.0

Essential upgrade required for the production deployment of iBTC Vaults.

Major additions / changes since last release (`1.15.0`):

- Individual secure thresholds
- Vault account recovery (after liquidation)
- Removal of theft reporting

For more details see: https://github.com/interlay/interbtc/compare/1.15.0...1.18.0

This last significant change (removal of theft reporting) was made in line with our suggested next steps listed here: https://medium.com/interlay/kintsugi-released-urgent-security-patches-aebf969ee087

In summary, we were recently alerted to several critical bugs related to the parsing of Bitcoin transactions. The most serious attack identified could allow an invalid fraud proof to liquidate any Vault in the system. After reviewing the core protocol, we recommended removing theft reporting.

Formal discussion and decision on theft reporting will be made on Kintsugi. Depending on the results of this vote, we can adjust the Interlay runtime in a subsequent release.

https://kintsugi.subsquare.io/democracy/proposal/56

**Request for fast-track by the TC.**

Interlay has released a new version of iBTC Vaults called `1.18.0`. This is an important upgrade that is required for the production deployment of iBTC Vaults. The new version has some major additions and changes since the last release, including individual secure thresholds and vault account recovery. The most significant change is the removal of theft reporting, which was done to address critical bugs related to the parsing of Bitcoin transactions. A formal discussion and decision on theft reporting will be made on Kintsugi. The Technical Committee has requested a fast-track for this upgrade.

Upgrade to runtime v1.18.0

This proposal is for accepting the Moonbeam to Interlay part of the XCM channel and finalising the XCM connection. 

**Request for fast-track:**
Since this has already been voted on by the community as something that we want, we request fast-tracking the proposal so that it can be executed today. 

Open XCM Channel with Moonbeam - Part 2/2 - HRMP Accept and HRMP Request

**Summary**
We want to execute Referenda 6 as the initial proposal had the wrong hash. 

**Details**
The initial proposal to raise the DOT Collateral Ceiling was submitted with a faulty hash and so could not be executed. This proposal just executes the correct arguments so that the ceiling is raised as voted and agreed by the community to 150000 DOT. 

**Request for Fast-Track**
Since this proposal has already passed via referenda 6, we request that we fast track this so that it can finally be executed. 

**Referenda 6** - https://interlay.subsquare.io/democracy/proposal/6


- A proposal to raise the DOT Collateral Ceiling was submitted with a mistake in its code.
- This proposal aims to execute the correct code to raise the ceiling to 150000 DOT.
- The community has already voted and agreed on this proposal via Referenda 6.
- The proposal is requesting a fast-track to be executed since it has already been approved.
- Referenda 6 is the previous vote that approved the proposal.

Execution of Referenda 6 - Set initial DOT Collateral Ceiling to 150000 DOT

### Summary

This proposal will set the DOT Vault Collateral Ceiling On Interlay to 150000 DOT.

### Proposal

As we prepare the launch of IBTC and vaults will start adding collateral, we want to avoid situations encountered when launching Kintsugi where vaults were slowed down at the start due to a low starting collateral ceiling. 

Since the vaults have already been battle tested on Kintsugi with the equivalent relay chain token KSM, we have more confidence in the stability and sturdiness of the system and therefore more comfortable with starting off with a higher ceiling. 

We therefore want to already set a sufficiently high initial ceiling of 150000 DOT and revise increasing it further at a later date when we see that the ceiling is close to being reached. 



### 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.


**Note:** Unfortunately the proposal used the wrong call hash and so did not execute. We submitted a follow-up fast-track proposal to execute this proposal here - https://interlay.subsquare.io/democracy/proposal/7

- Interlay is preparing to launch IBTC and vaults will start adding collateral.
- To avoid issues encountered during the launch of Kintsugi, Interlay wants to set a high initial collateral ceiling of 150000 DOT.
- This will give more confidence in the stability and sturdiness of the system.
- Interlay may revise increasing the ceiling further at a later date.
- Interlay is requesting TC fast-track to move quickly with setting initial system settings.

Set initial DOT Collateral Ceiling to 150000 DOT

This referendum opens the XCM channel to Moonbeam. This will allow Interlay assets to be transferred to Moonbeam and used there.

This is the first part of two referenda to open bi-directional communication with Moonbeam. The second referendum will accept the open channel to Interlay.

Note: Moonbeam needs to pass a referendum as well to accept this open channel.

Request To Open XCM channel with Moonbeam - Part 1/2 (HRMP INIT) 

This proposal batches the HMRP accept from Acala to Interlay and requests to open a HMRP channel from Interlay to Acala.

Open XCM channel with Acala - HRMP ACCEPT and HMRP REQUEST

This referendum opens the XCM channel to Acala. This will allow Interlay assets to be transferred to Acala and used there.

This is the first part of two referenda to open bi-directional communication with Acala. The second referendum will accept the open channel to Interlay.

Note: Acala needs to pass a referendum as well to accept this open channel.

Note: The proposal was fast-tracked by the technical committee.

Open XCM channel with Acala - Part 1/2 (HRMP INIT)

Includes some minor changes in the XCM configuration that are required for setting up channels. This upgrade also introduces an INTR per iBTC limit which can be optionally set to prevent distributing too many rewards early on. The node release also includes the polkadot-v0.9.24 update which includes a libp2p fix for a potential DoS attack vector - this is a high-priority upgrade.

**For more details, please see the following:**

- https://github.com/interlay/interbtc/compare/1.14.1...1.15.0
- https://github.com/interlay/interbtc/releases/tag/1.15.0
- https://github.com/paritytech/polkadot/releases/tag/v0.9.24

**Request for fast-track by the TC**


- Interlay has made some changes to their software called XCM configuration for setting up channels.
- They added a new feature called INTR per iBTC limit which can help prevent giving out too many rewards too quickly.
- They also updated their software to include a fix for a potential DoS attack vector.
- This update is very important and needs to be done quickly.
- For more information, you can check out the links provided.

Upgrade to runtime v1.15.0 - Fast Track

Includes some minor changes in the XCM configuration that are required for setting up channels. This upgrade also introduces an INTR per iBTC limit which can be optionally set to prevent distributing too many rewards early on. The node release also includes the `polkadot-v0.9.24` update which includes a libp2p fix for a potential DoS attack vector - this is a **high-priority** upgrade.

**For more details, please see the following:**
- [https://github.com/interlay/interbtc/compare/1.14.1...1.15.0](https://github.com/interlay/interbtc/compare/1.14.1...1.15.0)
- [https://github.com/interlay/interbtc/releases/tag/1.15.0](https://github.com/interlay/interbtc/releases/tag/1.15.0)
- [https://github.com/paritytech/polkadot/releases/tag/v0.9.24](https://github.com/paritytech/polkadot/releases/tag/v0.9.24)

- Interlay has made some changes to their software called XCM configuration.
- These changes are needed to set up channels.
- There is now a limit on how many rewards can be given out early on.
- There was also an important update called `polkadot-v0.9.24` which fixed a potential attack.
- For more information, you can check out the links provided.

Upgrade to runtime v1.15.0

**Summary**
This proposal activates INTR staking rewards as of block 529634 - that is, around 9th of June 17:00 UTC (depending on block times). 

**Proposal**
The Interlay team has informed the community in a discussion post that the INTR staking rewards can be activated.

The next step is hence to activate staking rewards via an on-chain governance proposal.

**Requesting TC Fast-track**
Since everything is ready and the community has been waiting for rewards to be activated, a fast-track by the Technical Committee is requested. This way, staking rewards can go live on the same day or the day after. Without TC, this would be delayed by another 2 weeks (up to 7 days before the proposal becomes a referendum, and another week of voting and enactment).


- The Interlay team wants to activate rewards for staking INTR.
- They need to make a proposal to activate the rewards.
- They want the Technical Committee to approve the proposal quickly.
- If the Technical Committee approves the proposal, the rewards can start right away.
- Without the Technical Committee's approval, the rewards would be delayed for up to 2 weeks.

Democracy Public Proposals