[Democracy] Public proposal #7

Register INTR and iBTC from Interlay

- Interlay and Phala want to transfer assets between each other.
- They want to list $PHA on the Interlay money market.
- This proposal will allow them to do this.
- They have tested this proposal with Chopsticks UI on both Phala and Polkadot.
- They are using a special code to make this happen.

Open XCM channel with Interlay

Phala proposal summary:
- Phala and Interlay will open a channel to transfer assets between them.
- This will allow for more use cases for iBTC and could lead to listing $PHA on the Interlay money market.
- The proposal also includes reimbursing someone for their work creating governance proposals.
- The XCM payload is a code that decodes on Polkadot.
- The proposal has been recreated based on community feedback.

Open XCM channel with Interlay  (aborted)

Phala Network has secured slots in the Polkadot #58 Auction on December 30th, 2023, which is a great achievement for the community. They are requesting reimbursement from the funds attributed to the slot auction in the tokenomics in the amount of 2,521,776 $PHA to cover the costs incurred during the auction. The funds used for Slot Auctions within the Tokenomics were transferred to a multisig wallet managed by Marvin, Hang, and Doyle to ensure the safety of funds and achieve decentralization. The total DOT spent on the auction was 35,500 DOT, which is equivalent to 2,371,323 PHA. Phala Network operates without a centralized foundation, and their public expenditures are supported through allocations from the Phala Treasury and Tokenomics. The community is kindly asked to support this proposal by casting their vote.

Funding Proposal for Polkadot and Kusama Slot Auctions

- A proposal has been made to send 1,000,000 PHA via XCM to the HydraDX Omnipool account.
- This proposal will be approved if the HydraDX governance launches a council motion which is fast-tracked and enacted in 3-4 hours.
- Once the proposal is approved, PHA will become tradeable within the Omnipool.
- The sender will be set as the LP position holder so the position can be controlled via XCM Transact calls.
- PHA will be tradable on the Omnipool.

Add PHA to Omnipool

1. Doyle wants to be a Registrar on Phala.
2. He wants to help more people in the community with efficient on-chain certification.
3. Doyle wants to encourage more people to use vaults for reliable staking rewards.
4. Phala is a growing blockchain technology.
5. Doyle is excited to work with the community to build a brighter future for Phala.

Democracy Public Proposals