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.
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.
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.