Now that iBTC has finally launched, the next step is to launch integrations with Polkadot parachains. As a decentralized network, decisions lie with the community - and so we want to share all information and opportunities we are aware of so far to initiate discussions.
The Acala parachain is currently not fully operational as an aftermath of the aUSD incident. Follow the latest updates here: https://acala.discourse.group/c/acala/16
XCM channel is WIP, full integration ETA 1-2 weeks (incl. bridge UI). Governance proposal open here: https://interlay.subsquare.io/democracy/referendum/19
XCM channel is WIP, full integration ETA 2-3 weeks (incl. bridge UI). Governance proposal open here:
Thanks a lot for the detailed roadmap! It's exciting to see what other integrations are in the works. It seems like we should pair KINT/INTR with their network token (like KINT/MOVR) for best liquidity, and then pair iBTC with the highest market cap token (DOT) for max stability. Let's only pay DEX incentives from treasury while we have to, with the eye on eventually providing Treasury Owned Liquidity eventually instead.
Treasury-owned liquidity is definitely something that is very interesting and can be very useful.
There are, however, some technical blockers - for now. To be able to control LP shares, we need:
No 3 is most likely to be executed first - plus also allows to do more customizable treasury LP-ing on the native AMM.
I like the idea of having a native DEX on Interlay/Kintsugi!
Great to have a project that gives such transparent updates!
What about if you had an NFT for early adopters to help galvanise the community - This could be a simple one in singular or one that evolves as you mint more ibtc etc - or instead to help expand partnerships it could be a Kanaria add-on with RMRK, or a badge on phalaworld or a Youdle integration, or a maybe exosama to get a big community involved...or just one NFT that gives you visual benefits across all these projects to show the benefit of an interconnected web 3, appreciate you may be concentrating on the tech/partnerships at the moment might be easier if there was a strong community around the project also - ibtc is so great feel like it should be a bigger deal, almost common good chain levels of importance
The NFT could have benefits or evolve also, for example give a bonus yield in INTR or KINT etc or a monthly raffle etc for 10000 KINT etc to Top 3 holders that have been active in utilising their ibtc i.e. not just idle etc.
@wdAm...T1h7 Not sure about this, feels like it will be a distraction from the core product and we need to link with other dexes for partnership/marking purposes
In our vault, we split the INTR rewards internally between who is depositing DOT and who is minting iBTC from our vault so that we can get an optimum efficient ratio - what if you changed the code / UX so that the Vault operator can 'bribe' to people to mint ibtc of their vault? i.e each vault operator can set a % of how much of their vault INTR tokens automatically be distributed to the people that mint their ibTC on a weekly basis say.
Right now there is 20 btc+ of capacity so this might help increase adoption etc? If there was a way to earn yield on BTC then people from outside the eco probably would come including people like Nexo etc perhaps. Also, you could make these vested also so its not sold immediately..
Considering the INTR rewards are a bootstrap, the idea of making part of them vested is interesting. There is some difficulty in implementation (there can only be 1 vesting schedule per account) but something worth exploring. I think a part would need to be liquid though so operators can cover costs and take profits.