Funding Brale integration into Kusama Asset Hub to introduce branded stablecoins (v3)

Date: 21/03/2024
Proposal to: Kusama common good fund
Summary: Brale integration to Kusama Asset Hub
Approval: Simple Majority
Read full proposal: https://rfc.decent.partners/t/funding-brale-integration-with-kusama-assethub/57

Spend sent in parallel to two separate verified beneficiary accounts.

Scheduled as two payments:

• 50% paid out to addresses 1 block after confirmation.

• 50% paid out 1612800 blocks after confirmation (16 weeks).

Optimistic grant assumes core integration and launch functions are completed within 16 weeks.

Any issues will be reported at least 2 weeks ahead of scheduled payment due date.

Kusama governance retains oversight of second payment via scheduler pallet call on treasurer track to cancel taskname.

If necessary second payment can be rescheduled or cancelled.

Unused volatility buffer returned to treasury.

Beneficiary: Brale
Website: https://brale.xyz
Verified address: F9ob8GJg7CCMpUKrR6PJdS9tpgDBKSw4CWNjGpEPgahnTVJ
Responsibilities: Issuance, regulations, insurance, redemptions, custody, audits.
Grant: $125,000
Volatility buffer 10%: $12,500
Total: $137,500
Date: 2024-03-21
KSM EMA30: $49.19
Total KSM: 2795

Beneficiary: Decent Partners
Website: https://decent.partners
VAT number: GB306867875
Verified address: FvrbaMus8iASyrQYkajQWDxsYvG5gb72PFPuvy8TvkFFVGn
Responsibilities: Research, strategy, business development, stakeholder relations, proposal development.
10% Network Service Fee (NSF): $12,500
+10% volatility buffer: $1,250
Total: $13,750

• GBP: 10,757
• VAT @ 20%: 2,151.40
• Total GBP: 12,908.40
  Total USD: $16,498
  Date: 2024-03-21
  KSM EMA30: $49.19
  Total KSM: 335

Total spend to be approved:

Grants: $137,500 (inc volatility buffer)|
Network Services: $16,498 (inc VAT, volatility buffer)
Total: $153,998
Total KSM: 3131