I just listened to the AAG, and for my part, I would like to support Interlay as a secure BTC derivative vault project is better funded.
But millions to finance visibility who, in my point of view serve for people take money on this visibility. Is so far of Dot for the moment. If Dot have 50 or 100 milliards of valorisation may be not, but no for less of 10 or 20 Billion. Is my point of you.
Come back to Interlay, there have only 5 BTC in reserves.
So maybe it's still too much risk and not enough security, and at the same time if there is no liquidity how are you going to attract anything.
I don't know, but only 5 BTC of equity more or less.
100 BTC would be a better idea no, yes that's 6 million dollars, and even 12 million to really encourage the incentive of this project which could truly bring liquidity since surfing on the narrative of institutional adoption of BTC having truly started his course.
Promoting the possibility of working on the number 1 digital store of value is directly promoting polkadot as a real secure layer O for BTC.
Additionally, this could be used to secure polkadot reserve funds.
I really don't understand why we are not interested in this project which, for the cost, would favor the entire ecosystem, polkadot, its technology, the relaychain for the security aspect, its economy, its security.
Everything that ETH does poorly will be done here via a protocol linked to the first asset in the ecosystem. Why wait for bridges. This is already a good incentive for people to take a look.
This is a real marketing campaign linked to technology. A real useful use case.
In addition, if the liquidity is not sufficient, it will be enough to reduce the BTC held if not used enough, but 5 is too little, and in any case even 100 provides better security against volatility than any other asset excluding stablecoin.
It is with this type of initiative that governance could really be democratized beyond cryptocurrency, if you ask me.
What do you think ?
Thanks for reading me.
PS: Je pose ce post complet sur l'onglet discution d'INTERLAY.
This is something that should be brought to the polkadot governance