This proposal is to top up our approved request from REF #657, as due to the fluctuation of the DOT price, we received 25.28% less.

Proposal Ref 657 was submitted on April 9th. We requested 8,420 DOTs. At that time, the price of DOT was $8.97, which translates to $75,527.40 ( we asked for $75,500.00).

We received the funds on May 12, where the price of DOT was $6.70 = $56,414.00.

This means we are $19,086.00 short due to the high price volatility of DOT. We did not expect this high volatility. And we also didn't allocate a 10% buffer, as is often done in most proposals (we only planned to refund any surplus to the treasury).

Based on Subscans EMA30 DOT price of $7.093 ( as of May 17th), we are making a top-up request of 2,960 DOTs (2,691 DOTs + 269 DOTs as a 10% buffer due to the high price volatility of DOT). The buffer is to avoid another situation like the one we encountered. Here, you can see the Excel spreadsheet with the calculations.

Any extra amount received will be returned to the treasury.

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