A user reported being unable to deposit additional VDOT into their vault, receiving the error vautlRegistry.CurrencyCeilingExceeded. The current vault collateral holdings and collateral ceilings for each token are:
| Token | Currently in vaults | Ceiling |
|---|---|---|
| DOT | 292k | 2.45M |
| qDOT | 967k | 1.4M |
| VDOT | 473164 | 500k |
| USDT | 371k | 2M |
| qUSDT | 11.6M | 74.8M |
| USDC | none | 2M |
| qUSDC | 2.5M | 75M |
We’re too close to the limit for VDOT, and could use more headroom on qDOT. Note the goal of Polkadot proposal 714 which I submitted 4/25 is to incentivize vault collateral for an additional 45 iBTC. If people only added vault capacity via VDOT collateral, that would require capacity for 328k more VDOT.
I propose increasing the VDOT vault collateral ceiling from 500k to 1.5M, and to increase qDOT vault collateral ceiling from 1.4M to 2.5M.
This governance proposal will also reimburse compensate me 3hrs x $100/hr = $300 = 8928 Interlay tokens (at $0.0336/INTR).
I think it makes sense to keep it as part of the proposal, because it's lower friction for everyone involved. I just think the word "reimburse" is more associated with expenses, and this is more like "compensation".
I think the treasury payment should be listed separately rather than included in this proposal.
I have nothing against you being rewarded for the work you do.