In referendum #601 we requested a total of $485,000 with the day's EMA7 of $9.544. This was a total of 50,817.27 DOT. When received at the end of the spending period the EMA7 was $6.88 and we only received $350,027. A difference of $134,973.
In referendum #883 we are requesting a total of 25,000 DOT to cover this price difference with a buffer to protect against further price volatility.
At posting the EMA7 for today is $6.38 which is a total of 21,155.64 DOT for $134,973. We have added a ~15% buffer on this (3,844.36 DOT). At the time of payment when the spending period ends in ~36 days the amount will be recalculated at the EMA7 for that day and any excess refunded to the treasury account listed below.
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TIA!
I support the top-up request due to the recent change in DOT price. However, to ensure the request is justified, I propose that proof of conversion of the DOT within a reasonable timeframe be provided. This will help verify that the need for the top-up is due to legitimate fluctuations in the market and not due to prolonged holding of tokens, which could be seen as market price speculation. Without such evidence, it is challenging to validate the necessity of this request.