Motion #319

#319·Deposit additional BNC liquidity in HydraDX Omnipool

Democracy

6mos ago

2 Comments

Executed

#Summary
In order to support the proposal to add additional BNC in HydraDX Omnipool, this proposal aims to add 1,250,000 BNC to Omnipool.

This proposal, if approved, will:

Transfer 1,250,000 BNC from the Bifrost Treasury to Bifrost Sovereign Account (7LCt6dFs6sraSg31uKfbRH7soQ66GRb3LAkGZJ1ie3369crq) on HydraDX.
Remark to delegate HydraDX GOV to call Bifrost Sovereign Account for adding 1,250,000 BNC in Omnipool.

Edited

Votes3/3

Aye

Aye

Aye

This vote has been closed.

Business
Call
Metadata
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Comments

gzJQ...pGGx

You guys are awesome! Last night I was working with Chopsticks to test extrinsics for this deposit but you guys just went for it! (Since Bifrost implements the scheduler pallet, I think you can loop over small deposits and withdrawals from the Omnipool)

This is the HydraDX preimage to deposit this 1.25M BNC into the Omnipool from your Sibling acct: 0x8e682ede2d54d1837a63d9154adef451fc7af88e14e1cbf32c5fc6a742446d20

-- spazcoin

Edited

Up 1

gzJQ...pGGx

The HydraDX governance vote to add the 1.25M BNC to the Omnipool has now executed!
https://app.hydradx.io/wallet/assets?account=7LCt6dFs6sraSg31uKfbRH7soQ66GRb3LAkGZJ1ie3369crq

For future reference, in case you ever want to withdraw the treasury liquidity, the LP IDs are 2958 and 9153. You can see them using Hydra chain state with uniques->account(Sibling 2030, 1337).

You can also use omnipool.positions(2958) to see the specific number of shares in that BNC LP position.

When withdrawing the LP, you can only withdraw 5% of the overall BNC liquidity at a time. You can either ask your friendly Hydra governance to withdraw it in one go, or Bifrost can remotely use the scheduler pallet to repeatedly remove liquidity each block.