- Treasury/
- Proposals/
- #427/
Retroactive Funding for Brale’s Public Good Stablecoin Integration with Kusama Asset Hub (now live)
Full proposal here.
Latest Brale deck inc Kusama/Polkadot: here. (added 8.12.24).
Proponent: Decent Partners collective
Request: $125,000 + 10% volatility buffer any excess will be returned.
Total USD: $137,500 Total KSM: 4044 (EMA7 $34)
Beneficiary: Decent Partners organisation on krievo, sovereign account on relay chain.
Address: G2zmdwA3V1je5nrXdwDYGPC6hqvqaomoaHmNdMy1JPL7frh
Members: Four organisations with 1 vote each - decent, Brale, Virto, KSM collective.
Governance: optimistic approval - proposals pass by default unless majority organise to reject.
Contact: Decent Partners public matrix inc representatives from member organisations.
Summary
This proposal seeks retroactive funding of $125,000 in KSM to reimburse Brale for completing the integration of their community driven stablecoin issuance platform with Kusama AssetHub, which establishes a significant public good, unlocking exciting new opportunities for collectives.
By leveraging the Kusama-Polkadot bridge, Brale allows any organisation operating on either network to issue US regulated and yield generating stablecoins that can be exchanged at zero cost across 15 connected blockchains.
Ethereum, Base, Solana, Optimism, Polygon, Ethereum Classic, Celo, Hedera, Arbitrum, Avalanche, Cosmos, Coreum, Vechain.
The first stablecoin is decent/dUSD and it has been minted on Asset Hub with ID 50,000,002.
Brale have onboarded to krievo, joining the Decent Partners collective alongside decent, Virto and KSM collectives.
They are committing their KSM fee to driving adopton of dUSD.
A concurrent proposal requests a KSM liquidity subsidy for kickstarting a KSM:dUSD trading pair on Asset Hub.
Brale are committing $300k of dUSD to the pool.
- Decent Partners is asking for $125,000 to fund Brale's work on a stablecoin project.
- Brale integrated their stablecoin platform with Kusama AssetHub, a big step for public good.
- The stablecoin, called dUSD, can be used across 15 different blockchains.
- Brale is part of the Decent Partners collective, which includes four organizations.
- They are using their KSM fee to help more people use dUSD.
- Another proposal asks for money to start a KSM:dUSD trading pair.
- Brale is putting $300,000 of dUSD into this trading pool.
Update 10.04.25.
The KSM:dUSD pool on Kusama is now deployed and has been rebalanced by Brale.
A number of projects in Kusama are have integrated dUSD - full announcement 16th April ish.
We're reallocating unused KSM from the liquidity subsidy to cover exchange loss + Brale pool management fees. Full explaination and figures broken down here inc transactions. Brale invoices to DP seen by Daniel (Virto Team) and Will (Paradox).
View a full breakdown and summary here.