This proposal requests to open an HMRP channel from Interlay to Phala. Then Phala governance must accept the channel and send a channel open request back to Interlay. Opening these channels will allow assets to be transferred in between Interlay and Phala and open a path towards listing $PHA on the Interlay money market and more use cases for iBTC.
The Interlay team wrote scripts and a guide to creating governance proposals to enable the Interlay community to execute on the many suggestions that the community makes, supporting further decentralization of protocol governance. Proposal creators are reimbursed from the Interlay treasury based on the effort required for each proposal.
Proposal guide: https://interlay.notion.site/Registering-new-token-using-script-139015d02fb34fd38d078fdf3e8d1f94
Therefore this governance proposal will reimburse me 12 hrs x $100/hr = $1200 in Interlay tokens. This amount is only paid if the entire proposal successfully executes.
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