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

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.

Edited
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Metadata
Proposer
Hash
Delay
02022-11-10 15:40:06
End
02022-11-10 15:39:30
Threshold
Call
Table
Json
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sectionutility
methoddispatchAs
args
asOrigin
system
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call
callIndex0x5e00
sectionxTokens
methodtransfer
args
currencyId
tokenINTR
amount3120000000000000
dest
v1
parents1
interior
x2
0
parachain2006
1
accountId32
network
anynull
id0x961970d0b57de09b7d40b5ef440e6b300dc437277f68ef8cfb7608249ff64878
destWeight5000000000
TimelineLatest activity undefined
2022-11-02 17:37:36
Proposed
Index
#32
2022-11-02 18:16:36
FastTracked
2022-11-02 18:16:36
Started
referendumIndex
30
voteThreshold
SuperMajorityAgainst
2022-11-10 15:39:30
Passed
referendumIndex
30
2022-11-10 15:40:06
Executed
result
ok
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