Polkadot governance news #3: Liquidity boost for aUSD approved
There are protocols in the Web3 space, that are governed by their creators even after a few years of the full operation. Polkadot on the other way is governed by the on-chain governance from literally day one! It's amazing to be part of the project with such transparency and users' responsibility. That's why still follow the campaign with the motto: “Use your right, use your vote. In Polkadot Governance!”
We Polkadotters believe in the Dotsama ecosystem and in the power of governance: the greatest virtue of Polkadot!
- Polkadot Referendum #61 Lower HRMP Channel Deposits to 10 DOT from the previous deposit amount of 20,000 DOT and lately 1,000 DOT passed and already executed. This lowering of the deposits is making access to HRMP channels cheaper and simpler.
- Kusama: Referendum #199 Swap Lease For Shiden (2007 to 2120) passed and was also already executed. The Shiden dev team requested governance assistance to swap their lease to the new ID (2120) similar to what Khala did before.
- Kusama: Referendum #198 Kusama Liquidity/Reward/Bridge Subsidy for Stableswap (USDT-USDC-aUSD) passed after a very juicy discussion and many NAY votes, including the late-time ones. The result of this referendum will be providing 22,000 KSM of treasury funds as an aUSD liquidity bootstrap for stableswap USDT/USDC/aUSD.
- Kusama: Referendum #197 Proposal for USDT token sufficiency on Statemine passed, but it was quite discussed topic. The sufficiency means in this case that it can pay transaction fees and exist on accounts without KSM. Many users and developers in the community believe, that a stablecoin like USDT can boost the DeFi ecosystem and support an increase in transactions on DeFi-focused chains, so that's probably the reason why this referendum passed.
- Kusama: Referendum #196 Open HRMP channel between Parallel Heiko and Statemine passed. The bi-directional channel with Statemine allows Parallel Heiko XCM communication with this common-good parachain that includes token transfers.
- Kusama: Referendum #195 Kusama runtime upgrade to version 9200 passed. On the runtime side, this release included xcm benchmarks and staking pallet validator commission change events and also the reduction of bandwidth that helps improve parachain block times.
- Kusama: Referendum #194 Swap Leases for Moonriver and Khala passed and was already executed.
- Kusama: Referendum #193 for RMRK token sufficiency on Statemine. This referendum passed and was already executed.
- Kusama: Referendum #192 Swap para lease between 2003 and 2000 passed and was already executed. The result of this referendum is the availability of swapping the present Karura slot to the one that won the recent parachain auction.
- KILT Spiritnet: Referendum #14 Double Staking Rewards did not pass. This was initiated due to the fact that KILT Spiritnet and other parachains of Kusama have experienced bad block times between 20–23s instead of the targeted 12s, which resulted in collators and delegators have received up to 40–48% fewer rewards. The proposed collator annual reward rate upgraded to 20% instead of 10% and the delegator annual reward rate upgraded to 16% instead of 8% didn't pass through this referendum.
- Polkadot Referendum #63 Polkadot Runtime Upgrade to v9200 aims to upgrade the Polkadot Relay chain to v0.9.20, which consists of reducing network bandwidth and improving parachain block times. This Referendum was fast-tracked by the Technical Committee and at this moment it's passing unanimously. There are still about 5 days left to vote.
- Polkadot Referendum #62 First Statemint HRMP Channels refers to the request of the first five parachains, that would like to open HRMP channels with common-good parachain Statemint. If this referendum will pass, parachains Acala, Moonbeam, Astar, Equilibrium, and Parallel will have enabled the opening of return channels with Statemint. This referendum is currently passing unanimously. There are still about 12 days left to vote.
- Kusama: Referendum #200 Proposal to update parachain’s (2115, Dora Factory) wasm and genesis is currently passing by a wide margin. This proposal is to replace some bugs from the previously submitted genesis and wasm with correct ones. There are only 2 days left to vote.
- Moonbeam: Referendum #40 Runtime Upgrade 1502 is currently passing. As the result, Moonbeam’s runtime will be upgraded to Runtime 1500 which has some important updates such as the implementation of pallet orbiters and support for gasless transactions. The most important change will be removing staking rewards for tokens unbonded by delegators during the unbonding process, which should support consistency and proper due diligence in the delegation process. There are still about 4 days left to vote.
- Kintsugi: Referendum #33 OnFinality — High-Performance Public Infrastructure (Q3, 2021 — Q1, 2022). Onfinality proposes covering the costs for the running of high-performance, scalable, and reliable public infrastructure for Interlay’s Kintsugi Network. This referendum is currently passing unanimously.
- Kusama: Proposal #69 Pichiu-2102 genesis state&wasm reset on Kusama. Pichiu is Kylin’s canary network that is going to launch parachain on Kusama but has some issues to do so, that need to be approved in the referendum.
- Kusama: Proposal #66 HRMP channel creation: Statemine — Shiden Network. This proposal is intended to establish an HRMP channel between Shiden, which is a canary network of Astar, and a common-good parachain Statemine.
- Polkadot: Treasury proposal for organizing UTXO.22 conference which will take place between 4th and 5th June in Prague. UTXO is an open community cryptocurrency conference, probably the biggest one of its kind taking place in the Czech Republic this year. There will be a few talks about Polkadot as well.
- Kusama: Treasury proposal for organizing the “Polkadot World” Event between 17th and 19th June 2022 in Barcelona. This three-day face-to-face event might be the biggest one in the Spanish community of the Polkadot and the Kusama ecosystem.
If you want to dig deeper into Polkadot’s governance, definitely check out our descriptive article Governance: The greatest virtue of Polkadot.
We are active validators and collators in the Dotsama ecosystem. Consider supporting us by nominating your tokens to our Kusama and Polkadot validator going by the Polkadotters' name! Rewards from validators are what keep us going, because this is our only stable income, so if you like what we do, please nominate us on one of the Dotsama networks! Thank you 😊