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.