The Equilibrium parachain lost its Polkadot slot lease in February 2023 and stopped producing blocks. The Parallel parachain is still operational but has been abandoned by its team. I've heard that there is 1.5M DOT stranded on Parallel.
This proposal will close HRMP channels to and from the (non-existent) Equilibrium chain and close the channel from Interlay -> Parallel. The return channel is left open because I see a few thousand dollars worth of INTR and iBTC still sitting in several accounts on Parallel. Leaving the return channel (Parallel->Interlay) open allows those users the ability to move funds back to the operational Interlay chain.
Educational sidenote: since XCM uses reserves on each parachain instead of actually moving tokens between chains, you can look at the sibling account on Interlay for any other chain to see the total funds moved from Interlay into that other chain.
You can find a chain's sibling acct address by 1) Look at subscan's "Hot Channels" list to get each parachain's ID 2) Use Shawn Tabrizi's "Substrate Utilities" to convert parachain ID into Sibling acct and 3) look at that address on Subscan.
Equilibrium sibling acct on Interlay: https://interlay.subscan.io/account/5Eg2fntLDxSsJAuwHC7GpsPcPCW1NidnVuuueRNigVuRwREd
contains 5903 INTR and 0.0274 iBTC
Parallel sibling acct on Interlay: https://interlay.subscan.io/account/5Eg2fntLRaW3pHqk6pb1242gUqARX5Zubd8jH2YHGnwQADmR
contains 154,587 INTR and 0.0368 iBTC
Motivations to close these XCM channels:
This proposal includes compensation for 5 hours for researching active channels, trying to identify owners of the Equilibrium and Parallel accounts (no identities available), discussing options in Interlay community, Chopsticks testing, and proposal creation. 5 x $100/hr at $0.02176/INTR.
Here are several substantial arguments against a positive vote on this referendum, as well as reasons why it may be a waste of Interlay's treasury funds:
Uncertainty regarding users and their funds:
Inefficiency in resource utilization:
Risk of needing to reopen channels:
Lack of a concrete loss compensation plan:
Possibility of alternative solutions:
Risk of negative community perception:
Disproportionate compensation costs:
Thus, these arguments emphasize the need for a more thorough analysis and exploration of alternative solutions before deciding to close the XCM channels, which will avoid unnecessary expenses and ensure more efficient use of Interlay's treasury resources.
Спасибо господин @wdCA...jjMY "Mr RR" / mr.rr_web3.0 / @arkadihard. I know you're indirectly venting at the Interlay team and project in general because you're frustrated that your staked tokens are locked and you feel that the team has abandoned Interlay. You’re hoping that blocking community referenda or filing a lawsuit against the team will force them to return to developing Interlay.
However, I don’t think creating a hostile community environment will help. Instead let's find ways to improve and expand Interlay and to help the overall Polkadot ecosystem. We’re expanding Interlay money markets and vault collateral to expand use of Interlay’s existing products. We’re trying to decentralize by opening up collator spots and hiring another dev team to update the Interlay runtime. Those will have a larger positive impact. Even though many of your objections appear AI generated and don’t apply, I will still attempt to answer them in good faith, in hopes that you change your mind.
Argument #1 worries about protections of users and asks for the amounts of their funds
Answer: This referendum lists the Parallel chain as holding 155k INTR and 0.0368 iBTC of user funds, but leaves open the channel for users to send their tokens back to Interlay instead of losing them.
Arguments #2 worries about the cost of closing a channel
Answer: This concern doesn’t apply because there’s no cost to close channels (it frees up 10 DOT for each direction of a channel. 30 DOT total will be freed up).
Argument #3 worries about reopening channels
Answer: No risk of needing to re-open the channels because both Equilibrium and Parallel teams have abandoned the DOT ecosystem.
Argument #4 – loss compensation plan
Answer: Interlay is not responsible for users moving their funds to those chains and then those chains ceasing operation, but is trying to help avoid additional users sending funds.
Argument #5 – alternative solutions
Answer: I welcome anyone to try to directly contact the affected account holdsers. None of them set an identity.
Argument #6 – negative community reaction
Answer: There’s no Equilibrium community left (Genshiro bail bonds were an AWEFUL trap) and former Parallel all hate the team because there’s so many funds trapped on the Parallel chain with no wait to release them.
Argument #7 – compensation costs
Answer: The Interlay community was aware my $100/hr rate from previous referenda and it hasn't been an issue over eight referendum approved by Interlay voters. This topic was clearly discussed and agreed to in the Interlay “gov-discussion” channel before I developed the XCM calls to close the channels and created the referendum.
Edited
A waste of money from the treasury during critical times for Interlay. I am against it.