Bootstrap ONE-T Nomination Pools

Bootstrap ONE-T Nomination Pools with bonded stake from Kusama Treasury funds

ONE-T is a validator-performance bot for Polkadot and Kusama networks with special focus on the One Thousand Validator Programme (TVP). ONE-T is generating reports daily since April 2022. These reports are currently only available on matrix and at the time of writing, for Kusama and Polkadot combined, ONE-T gathered over the past two months more than 150 members on both public rooms. There are more than 200 validator report subscriptions active and is sending on average more than 500 reports a day to subscribers.

ONE-T Nomination Pools are automated, precisely and unbiased with ONE-T bot at its core.

From this proposal we aim to use 20 000 KSM from Kusama Treasury funds to bootstrap with bonded stake two distinct nomination pools for the duration of 6 months.

How do we plan to use Treasury funds into ONE-T Nomination Pools?

The idea is to allocate 10 000 KSM to each pool totalizing the amount of 20 000 KSM requested from the Kusama Treasury.

Since these funds belong to the Kusama Treasury they should be always controlled by governance and should not be managed directly by us. To achieve the goal of less trust, more truth we pretend to use addresses without private keys generated on-chain via the Anonymous proxy function and without the control from the account that originally create the newly spawned anonymous proxies. With such implementation the ONLY way to access and execute calls on behalf of the new on-chain generated accounts is via Governance.

We are proposing the following two tasks to achieve our goal:

Task 1

First let’s create a batch call to generate new addresses on-chain via the proxy.anonymous function. The reference of the successful on-chain extrinsic can be found here.

The successful output of the previous call gives us two new addresses:

• FWkxCoVGajKfcBqd6SreVSm4DJZLMRAWSqT26whPrkjqX3m

• FWKXyqL8YhH7fyazuFiGswDcQEvJNSnbSVjc6mFDGL5i342

Next, let's use proxy.killAnonymous to effective remove our control from these accounts. The reference of the successful on-chain extrinsics can be found here and here respectively removing control from account FWkxCoVGajKfcBqd6SreVSm4DJZLMRAWSqT26whPrkjqX3m and account FWKXyqL8YhH7fyazuFiGswDcQEvJNSnbSVjc6mFDGL5i342.

From this point onwards the only way to access these accounts is via Governance, so let’s give it a try and make some remarks on behalf of these accounts.

We propose the following preimage for the proposal to be executed via Governance so we could test governance control over the accounts previously mentioned. The on-chain reference of the preimage can be found here.

Preimage proposal hash:

0x1802081803000181fd5707c1e314bdccbe80a311121ce074cebdc0dead2bbcb1cb0c127aca5f8e0001544c657373205472757374204d6f72652054727574681803000181a7c6cac2bac3e3fae246e998f1d05eb36aa59c3345fedb09a3828eee7ec762000130457870656374204368616f73

Task 2

Creation of a single proposal to be submitted by council so that could become later referenda with the goal described by the points below:

• Transfer 10,000 KSM from treasury to the anonym proxy account A;
• Transfer 10,000 KSM from treasury to the anonym proxy account B;
• Make the anonym proxy account A a member of pool 12 by joining with the amount of 9,999 KSM (1 KSM left for transaction fees);
• Make the anonym proxy account B a member of pool 13 by joining with the amount of 9,999 KSM (1 KSM left for transaction fees);
• Schedule a call after 2,592,000 blocks (6 months) with a batch call:
  • Claim Payout for the anonym proxy account A from pool 12;
  • Unbond all funds (9,999 KSM) of the member (anonym proxy account A) from pool 12;
  • Claim Payout for the anonym proxy account B from pool 13;
  • Unbond all funds (9,999 KSM) of the member (anonym proxy account B) from pool 13;

Note 1: 6 months is around 2,592,000 blocks (6 30 24 60 10)

Note 2: If this proposal passes council and referenda vote, add a reference here - in this document of the successfull block number and respective extrinsic. It might be useful for future reference.

Proposed draft extrinsic available here

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The full proposal with a detailed description be found here: https://hackmd.io/@turboflakes/SyqlsRtYc.

Further details about ONE-T Nomination Pools can be found here → one-t.turboflakes.io

Any feedback is welcome.

Please review our full proposal.