Bifrost Pokadot: Supporting BNC Listing on HydraDX Omnipool (Replace Motion 59)

#185·Bifrost Pokadot: Supporting BNC Listing on HydraDX Omnipool (Replace Motion 59)

Democracy

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AI Summary

This is a re-initiated democratic vote aimed at Motion 59. After discussion by the Bifrost Council, it was decided that the current governance execution period of Bifrost Polkadot (28-day voting period + 28-day waiting period) is not conducive to the rapid promotion of Bifrost's ecological use cases. Therefore, Motion 61 is the reinitiated proposal for Motion 59, to accelerate the voting period to 7 days + 2 days waiting period by the Technical Committee.

The Bifrost Polkadot governance module will soon be replaced by OpenGov.

TL,DR

In order to support the proposal to list BNC on HydraDX Omnipool, this proposal aims to borrow 700,000 BNC from Bifrost-Kusama Ecosystem Reserved Fund (which needs be transfered from Bifrost-Kusama Ecosystem Reserved address to the Cross-chain Bridge address, please refers to the Bifrost-Kusama proposal.) to Bifrost Treasury, then transfer 700,000 BNC to HydraDX via the XCM.

Summary

Execution steps in a batch_call:

Unreserved 700,000 BNC in Bifrost-Polkadot Cross-chain Bridge address (djSk4JfeBVmDA6T4yuTZajjZGmn9h8hcSH1NE6mGE4UdFv3)
Transfer 700,000 BNC from Bifrost-Polkadot Cross-chain Bridge address to the Bifrost Treasury Address (eCSrvbA5gGNYdM3UjBNxcBNBqGxtz3SEEfydKragtL4pJ4F)
XCM Transfer 700,000 BNC from Bifrost Treasury Address to HydraDX Omnipool address (paraid: 2034)

Edited

Bifrost Polkadot is changing its governance execution period to accelerate the voting period to 7 days + 2 days waiting period by the Technical Committee. This change will help promote Bifrost's ecological use cases. The Bifrost Polkadot governance module will soon be replaced by OpenGov.

Bifrost Polkadot is proposing to borrow 700,000 BNC from Bifrost-Kusama Ecosystem Reserved Fund to Bifrost Treasury, then transfer 700,000 BNC to HydraDX via the XCM to support the proposal to list BNC on HydraDX Omnipool. The execution steps include unreserving 700,000 BNC in Bifrost-Polkadot Cross-chain Bridge address, transferring 700,000 BNC from Bifrost-Polkadot Cross-chain Bridge address to the Bifrost Treasury Address, and XCM transferring 700,000 BNC from Bifrost Treasury Address to HydraDX Omnipool address.