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- #314/
[Small Spender] Parasnaps Maintenance Follow-up for Market Correction
This is a follow-up proposal on Referendum 170.
Since we originally created the retroactive Parasnaps maintenance proposal, the market experienced a significant downturn from the EMA7 specified in the proposal (KSMUSD @ $31.345). Despite accounting for some market volatility and 5% slippage in the proposal, the resulting difference between our costs and the payout is large in this case and therefore, we would like to follow up with this proposal.
Please find here a screenshot showing our sale of the KSM at a price of $24.75. This proposal is to cover the remaining $5748.15, or 223.02 KSM at an EMA7 of $25.774 for KSMUSD.
We would also like to address one concern that was raised in our previous proposal regarding providing snapshot only for Polkadot. During the entire time that the Parasnaps service was live, we provided daily snapshots for both paritydb and rocksdb on the Polkadot and Kusama relay chains. Unfortunately, we cannot prove this through the Wayback Machine, but would appreciate if those that used the service could vouch for our statement.
- A follow-up proposal to Referendum 170 is being made due to a market downturn.
- The original proposal was for retroactive Parasnaps maintenance.
- The market price of KSM dropped below the expected price, causing a large difference in costs.
- The new proposal asks for $5748.15 or 223.02 KSM to cover the remaining costs.
- A screenshot shows KSM was sold at $24.75, lower than the expected price.
- The team provided daily snapshots for both Polkadot and Kusama relay chains.
- They ask users who used the service to confirm their statement about the snapshots.