As discussed in the companion motion on Khala, we need to mint reservation funds to launch SubBridge.
This motion will mint 536.8M PHA to the SubBridge reservation account (436H4jat7TobTbNX4RCH5p7qgErHbGTo1MyZhLVaSX4FkKyz, modlphala/bg), and enable three relayers to bridge PHA to Ethereum.
536.8M PHA is calculated by (1B - 463.2M), where 463.2M is the locked mining subsidy reward on Ethereum. For detailed explanation, please refer to the Khala motion.
There are ~16.172 M PHA supply on Phala, which should come from the Phala crowdloan reward reservation (on Ethereum), and team operation funds. So after 536.8M is minted, we are going to transfer the full crowdloan reservation to Phala and burn the amount of the actual crowdloan reward distribution. And transfer the other funds from the team wallet to Phala, and burn the corresponding amount. Finally, the full redundant 16.172M PHA will be burned. The total supply on Phala should be exactly 536.8M PHA.
There will be follow up operations to balance the supply.
SubSquare is a project that needs funds to launch SubBridge.
They need to mint 536.8M PHA to the SubBridge reservation account.
This will enable three relayers to bridge PHA to Ethereum.
After minting, they will transfer the full crowdloan reservation to Phala and burn the amount of the actual crowdloan reward distribution.
Finally, the full redundant 16.172M PHA will be burned.