Sanchez
12 published posts
Spreading DOTs across multiple ecosystems
Hyperbridge has put up a proposal in collaboration with Bifrost, to launch a Polkadot liquidity campaign across multiple chains outside of the Polkadot ecosystem. The targeted chains for the liquidity campaign includes Arbitrium, Base, BNB and Ethereum Mainnet. The requested amount is 795,000 DOT which will serve as incentives to liquidity providers, rewarded in vDOT. This proposal is geared at increasing the DOT liquidity and mindshare across multiple ecosystems which will in-turn funnel liquidity and users back to the Polkadot ecosystem.
DeFi
It is idle? Put it to work
The over 5.2mill DOT earmarked by Ref1104 to be DCA'd into USDC and USDT still remains 3.7 million DOT on a schedule over 260 days before the completion of the swap on Hydration. There is a discussion to supply the 3.7 million DOT remaining to be DCA's into Hydrations money market as collateral to boost generate yield for the treasury and boost liquidity for borrowers. The DCA will continue even with the DOT still supplied on Hydration's money market.
A move for the future
A proposal to move 15% of the KSM from the Moonriver sovereign account on Kusama chain to Kusama AH for liquidity has passed and been executed. This proposal came after Kusama AH became a reserve for KSM for Moonriver, meaning for KSM can be sent from Moonriver to AH and back. This is set up as a trail run for Moonbeam where a corresponding path enabling the transfer of DOT and other tokens between Polkadot AH and Moonbeam will be set up to enable one-click interactions for Snowbridge and other apps.
Huge redenomination
Sora has announced a redenomination of vXOR token with no change in the value of tokens held by users. vXOR balances will be divided by 100,000,000,000,000. They've also announced a burn of vXOR on ETH and advised that users move all vXOR off Ethereum to avoid losses. https://x.com/sora_xor/status/1851303807176884644
