Polkadot OpenGov TOP-UP KILLER: utility.batch treasury.spends with USDC + USDT
Beneficiary:This video details how Polkadot OpenGov proposers can use utility.batch with treasury.spend call with USDC + USDT! Its meant to inform proposers and OpenGov voters.
- Video: utility.batch treasury.spends with USDC + USDT
- Slides: utility.batch treasury.spends with USDC + USDT
- Cheat Sheet: utility.batch treasury.spends with USDC + USDT
Instead of using EMA7+EMA30 guesswork (which predictably gets unpredictable results, especially this week 😅) and asking for annoying topups later when DOT falls, this process saves everyone from all that guesswork and gets stable results.
Instead of proposers getting paid everything up front (too risky for OpenGov Treasury) or paid retroactively if it passes (too risky for proposer), proposers can deliver milestone by milestone with this FAIR utility.batch.
If proposers fail to deliver, OpenGov can use treasury.voidSpend to cancel the proposal execution.
This means: NO MORE TOP UPS!
We hope someone will make a better video but I think its urgent that everyone know about and use this for efficient Treasury spends.
It was motivated by the realization that most people believe that most people proposing aren't DOT Missionaries through the interactions here.
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Thank you! Definitely needed to split payments, for accountability. Is not enough though: people will need to follow up on each proposal down the line, which is not easy! We may need a website UI to do so easily...
Regarding stables, I don't agree with paying with stablecoins until we don't have revenues directly in them (ie. accumulate fees in them), otherwise if Polkadot treasury sells DOT itself, no one will ever buy it and it would drop quickly.