Threshold
How are fellowship members decided? What are the expectations for their responsibilities and how is their work vetted?
This is a nice way to showcase the uses of XCM, hopefully it becomes more popular to the point we have something like a "treasury-dca pallet" with its dedicated track. Other system collectives will likely follow or we might want to make diversification of the treasury a normal thing that happens without too much hassle(e.g. Polkadot buying KSM in regular basis).
Extra random thoughts, other parachains can of course try to propose a similar thing since it's attractive to have a regular client that leaves good fees in the native token of the chain. Do we want to promote that or settle with a particular provider? Would it be desirable if any parachain providing this kind of "public service" charged the fees in DOT(that remained as DOT) or didn't charge fees? can the treasury have some certainty that the parachain won't raise their fees without notice?
Would it be possible to purchase USDT on other dexes based on a schedule, randomization, or a survey of best exchange rate? I know that this adds complexity but it would help support the other worthy dexes on Polkadot and Polkadot parachains.
At Polkadot Philosophy, we fully support the proposal to establish a more stable and predictable financial model for the Polkadot Technical Fellowship. The advancement and maintenance of the Polkadot network are paramount, and ensuring uninterrupted salary distribution for the Fellowship is critical.
The strategy to accumulate USDT through Dollar-Cost Averaging (DCA) orders, swapping DOT for USDT via the HydraDX Omnipool, is forward-thinking. It provides financial stability and demonstrates Polkadot's adaptability in leveraging sophisticated financial mechanisms. The proposal's reliance on Cross-Consensus Messaging (XCM) showcases the power and flexibility of Polkadot's interoperable architecture. XCM facilitates seamless communication across different blockchains, and its application in executing these financial transactions is a testament to Polkadot's innovative spirit.
Employing the HydraDX DCA pallet, a parachain dApp, for this operation exemplifies the practical use of parachain technology within the ecosystem. This enhances operational efficiency and promotes the use of in-house developed technologies, further solidifying the ecosystem's self-reliance and innovative prowess.
We acknowledge the complexity of this proposal, involving multiple XCM calls and a scheduler. Therefore, following the Root track for execution is prudent, ensuring that the process is managed with the necessary oversight and security considerations. This proposal represents a significant step towards financial stability for the Fellowship, ensuring that our technical stewards are supported consistently. This stability is crucial for the ongoing development and maintenance of the Polkadot network, benefiting the entire ecosystem.
In conclusion, Polkadot Philosophy strongly endorses this initiative. It addresses a critical need within our community and exemplifies the innovative application of Polkadot's core technologies, such as XCM and parachain dApps. We believe that this approach will significantly contribute to the sustained growth and stability of the Polkadot ecosystem.
Hello @OTAR
We voted AYE in support of a mechanism that avoids sudden selling pressures due to salaries by spreading the pressure over time... however we reserve the opinion on fully automating DOT expenditures from the Treasury (we would love to see more audits on these mechanisms).
Cheers!
Milos