root

Preparing

please ignore

- A group called ChaosDAO, JUST Ventures, and Hydration proposed to get stable money (USDT and USDC) using Polkadot's treasury.
- They want to change 5,001,000 DOT into equal parts of 2,500,000 DOT into USDT and USDC over a year.
- This plan will help keep the value of the treasury steady and safe for future expenses.
- They will sell small amounts of DOT regularly to avoid big price changes and make the process efficient.
- They are using a special method called DCA (Dollar-Cost Averaging) to make the exchange smoother.
- The proposal also aims to use some of the funds to earn interest while they are waiting to convert.
- This plan involves sending funds to different places using a process called XCM.

Executed

**Track**: Root

**Proposer**: ChaosDAO, JUST Ventures, Hydration

**Date**: March 2025

**Requested allocation**:  5,001,000 DOT

**Short description**:  We proposed a structured approach for the Polkadot Treasury to obtain native USDT and USDC, for the purpose of diversification and enabling it to pay out expenses in a stable asset. Through this referendum, we aspire to renew the schedule presented in proposal #457 and convert 2,500,000 DOT into USDT and 2,500,000 DOT into USDC via the DCA mechanism described in detail below, where an additional 1000 DOT is reserved for transaction fees. This proposal presents a long-term solution to acquire different tokens in exchange for treasury DOT by Polkadot governance participants.

___________________________________________________________________________________

**Context of the proposal:**

Probably one of the most-requested features is the ability to make Treasury proposals in stablecoins like USDT and USDC. This is for many reasons, including less volatility around Treasury proposals and preserving the value of the Polkadot Treasury to ensure funds are available to support a given budget in the future.

With the latest upgrades to Substrate and the Polkadot runtime, the Treasury has a lot more tools available to it for its management, including proposals with non-DOT assets like stablecoins.

As was done in referendum 457, this proposal is to convert 5,000,000 DOT to USDT and USDC over the course of the next year, with 50% going to each. This uses Hydration's DCA feature to convert a little bit each day and ensure a steady flow of stablecoins into the Treasury.

Unlike 457, this referendum sells a fixed amount of DOT per trade rather than acquiring a fixed amount of USDT/C. For better capital efficiency, the full amount of DOT will be also initially converted into aDOT (yield-bearing collateral token) and supplied into the Hydration Borrow feature. By doing so, the Polkadot Treasury will accumulate yield on the dormant DOT, while substantially increasing the DOT supply available for borrowing, thus enabling more DeFi use cases. More details can be found in [this post](https://polkadot.subsquare.io/posts/401). 

Moreover it newly utilizes the “Rolling DCA” feature, which enables renewing the schedule just by sending DOT to the proxy account. This in turn means other governance tracks with lower security assumptions, such as Treasurer, can be used for smaller topups if needed. 

This amount accounts for about 22% of the new DOT expected to be minted into the Treasury over the next year (this could vary based on variables like the staking rate).

**Proposal objective(s) or solution(s):**

The central proposition entails the creation of a schedule that converts DOT into USDT and USDC via the DCA feature on Hydration, a parachain on Polkadot.

The attributes of this proposal are:
- Cost-efficiency (approx. 0.4% of the total amount)
- No necessity to appoint curators who oversee and manage the process
- Conversion is done in small amounts over a longer period which provides a hedge for price volatility and manipulation

DCA schedule parameters: [USDT]

- Total duration with current EMA7 price: 365 days
- Total amount: 2,500,000 DOT
- Trade frequency: One trade every 20 blocks (approx. 4 minutes)
- Per trade: 20 DOT
- Per day: 7200 DOT
- Send to asset hub after accumulating: 5,000 USDT
- Total fee estimation: 0.4% of total amount acquired

DCA schedule parameters: [USDC]

- Total duration with current EMA7 price: 365 days
- Total amount: 2,500,000 DOT
- Trade frequency: One trade every 20 blocks (approx. 4 minutes)
- Per trade: 20 DOT
- Per day: 7200 DOT
- Send to asset hub after accumulating: 5,000 USDC
- Total fee estimation: 0.4% of total amount acquired

Fee estimation breakdown:

- Trade fee: 0.3% (0.25% to Liquidity Providers, 0.05% to the protocol)
- Slippage fee: 0.045% (→AMM)
- Transaction fee on Hydration: 0.035% (→Protocol treasury)
- Transaction fee on Polkadot Asset Hub: 0.02% (→Asset Hub collators)

**Note**: Fees depend heavily on the schedule settings and are estimated based on parameters used. It is worth mentioning that the Hydration protocol also uses dynamic fees based on block space utilization ranging 0.15-5% to protect liquidity providers in times of volatility. All time average trade fees as of proposal submission are around 0.3%.

**Description of steps utilizing XCM to achieve the solution:**

- Send 5,000,001DOT from the Polkadot treasury to the Pure Proxy account [7N4oFqXKgeTXo6CMSY9BVZdHP5J3RhQXY77Fe7qmQwjcxa1w] controlled exclusively by the relay chain sovereign account on Hydration [7KQx4f7yU3hqZHfvDVnSfe6mpgAT8Pxyr67LXHV6nsbZo3Tm]

- After 1 block to process balance state changes on Hydration, schedule sending an XCM program to Transact on Hydration. This will initiate two DCA schedules, each with a total amount of 2,500,000 DOT, swapping 20 DOT to USDT and USDC every 20 blocks.

- Once the first USDT chunk is accumulated, initiate a periodic schedule that sends cross-chain chunks of 5,000 USDT and 5,000 USDC from the Pure Proxy on Hydration to the General Treasury account on the Polkadot Asset Hub [14xmwinmCEz6oRrFdczHKqHgWNMiCysE2KrA4jXXAAM1Eogk], totaling to max. 27500 transactions.

Renewal of treasury USDT and USDC Acquisition 

- There was a problem where an attacker took control of some important keys, preventing funds from being accessed.
- To fix this, a plan was made to move the funds to a safe account that no one controls.
- The plan involves two main steps: first, stopping the attacker's control, and second, sending the funds back to users later.
- They have a limited time of 16 days to act and need to pass a new proposal quickly.
- They worked with experts to ensure the plan is secure and well-reviewed.
- The proposed changes include removing the attacker's access and securing the affected funds.
- Tests show that their strategies were successful in a practice environment, helping them regain control and protect the money.

Emergency Response Plan for Securing 200,000 DOT

TimedOut

- An attacker stole over 312,185 DOT and 126,837 USDT from a parachain.
- The attacker gained control by upgrading the runtime with malicious code.
- They moved most of the stolen funds to exchanges and sold them for XMR.
- The attacker still has control over the parachain, putting more DOT at risk.
- A runtime upgrade is needed to stop further losses and secure user funds.
- The upgrade will restore control and remove the attacker's privileges.
- Efforts are being made to recover stolen funds and improve security.
- The community is being kept informed and encouraged to provide feedback.

Critical Runtime Upgrade to Prevent Further Exploitation

Dear Polkadot Community,

We are responsible for the proposal about Parallel Finance's governance takeover. We think we will fail, but we want to return control to the right people, not the Parallel Finance team. They did bad things and tried to hide their actions. We have evidence of their wrong actions.

Here are some important addresses related to Parallel Finance:
1. PF1: Main account controlled by Yubo
2. PF2: Old sudo account, also controlled by Yubo
3. TC3: Technical council account controlled by Yubo
4. 0xrjman: Key engineer and council member involved in bad activities
5. PF3: Another account
6. PF4: Manages all tokens and can create or remove them
7. PF5 and PF6: Accounts that moved a lot of money to other places

Parallel Finance did many bad things, like secretly moving tokens, creating and removing tokens, and changing rules to hurt users. We have examples of these actions, but there are too many to list.

We think Parallel Finance took more than 2 million DOT and other currencies, which is worth a lot of money. We hope that other groups will help keep the system working and safe.

We will wait for the Polkadot community to decide what to do.

Dear Polkadot Community, As referenced by the account address provided, we are responsible for the whitelist call proposal regarding Parallel Finance goverance taker over,

as noted in Polkadot Referendum #1322.

We would like to clarify that our action against Parallel Finance given current vote process, we anticipate our failure in that regard. While we are committed to returning the sudo privileges to the proper owners, we must emphasize that **we should not return control to the Parallel Finance team**. This decision is based on evidence of significant fraudulent activities carried out by the team months prior to our actions.

They are fearful of being discovered and have even decided to remove their Polkadot identity information on Subscan. However, it's not a problem for us, as we have record them.

Evidence suggests that Parallel Finance may have begun executing a rug pull as early as April, though our investigation only covers activities starting from April due to time constraints. **While our attack is only effective begun around Parallel Finance block 6990839-2, on around October 31, 2024.**

We will list the following addresses at first:

Parallel Finance 1 (PF1): The technical and general council account controlled by Yubo p8BDTWhQXouTCuVSSQTSYYDCxAC523iDZXNS9zT8ujgvnbyBh

Parallel Finance 2 (PF2): Parallel Finance ancient sudo account, current General Council p8FhJ2kCvAtetismfbfgLBeGwBknFuqT77L9nJXdLTvct35HD, assumed to be controlled by Yubo, , to stay 2/3 control of GC.

Current Technical council (TC3): Existing on parallel network only, controlled by Yubo, to stay 2/3 control of TC. p8GZVea2tDJ8s8JY8wWw3heHycetNXmvRnMnncF8VNpfKae77

0xrjman (based on github activity): A key engineer and tech+general council member whose activities appear to be at the heart of many illicit operations p8DShFJGrR5GNZoMvVUMc498Yh1SyuZYntRmnzrwm8t2eTctG

0xrjman is a highly capable individual, and this account serves as an Oracle script account responsible for updating key data, such as the Oracle feedValue extrinsic. The account's activity is designed to enhance privacy by integrating governance and sensitive transactions within a high volume of other transactions, effectively shielding them under a large number of inconspicuous operations.

Parallel Finance 3 (PF3) p8ES3KZSGYNLDyRKpGMKZN7iTQzZfNte1g14S4wh562qn6eUv

Parachain Finance 4 (PF4), The asset manager for all tokens, endowed with the authority to mint and burn tokens of all types. p8ENzw1bAMXwkUHKySWPhDwD4tN3y4u3DrdAnArS8MBx7MRHP

Parachain Finance 5 (PF5), A substantial amount of funds have been transferred from this account to Binance/other exchange. p8F7wLP9JBWrurpuQD6ctb9p7ns2M5YL25DFsyw8cAUQ4v7rn [https://polkadot.subscan.io/account/15BNvxBSi3oZewUURMLHDCzGRbwjhQaf6gRPXSjFA8jRumiK?tab=transfer](https://polkadot.subscan.io/account/15BNvxBSi3oZewUURMLHDCzGRbwjhQaf6gRPXSjFA8jRumiK?tab=transfer)

Parallel Finance 6 (PF6), A substantial amount of funds have been transferred from this account to Binance/other exchange. p8GLeJ7fK6Vb8mWPofUHNYjLDzD87jw3pGWD4dEfAZjqL5GYd [https://polkadot.subscan.io/account/16Q5tghTd2XnZcxssizmAnWNcx3WMoJTHyNaAkFoZQAh4w3q?tab=transfer](https://polkadot.subscan.io/account/16Q5tghTd2XnZcxssizmAnWNcx3WMoJTHyNaAkFoZQAh4w3q?tab=transfer)

\[The identity of the above account can be verified through multiple methods, even if all identifying information, including the Parallel Finance Project address label on Subscan, is removed.

For instance, to confirm PF1 [https://polkadot.subscan.io/account\_list?role=multisigMember&account=152JHcbqqzhWdcz88GLk4n2wYyhfZq6CjxTQa8TbXJxnDZHJ](https://polkadot.subscan.io/account_list?role=multisigMember&account=152JHcbqqzhWdcz88GLk4n2wYyhfZq6CjxTQa8TbXJxnDZHJ)

However, this account was previously labeled as the 'Parallel Finance' multisig, which contains several prominent leaders and organizations from the Polkadot ecosystem, unrelated to Parallel Finance.

e.g

OnFinality.io

Hanwen, founder of Litentry network

Yaoqi, Marketing Director of Parity Asia, Altlayer founder

QinWen, Polkadot web3 Foundation Councilor

Sota, founder of Astar network They can provide testimony that the account belongs to Parallel Finance.

PF1’s polkadot format address 1Gu7GSgLSPrhc1Wci9wAGP6nvzQfaUCYqbfXxjYjMG9bob6 Is among multisig.

Based on our knowledge, Parallel Finance is involved in the following activities:

(1) Disable the Statescan/Subscan explorer service support and conduct the XCM token transfer discreetly, as Subscan does not display XCM transfers from parachains to Polkadot when the parachain is unsupported by Subscan.

(2) Secret Minting and Burning of cDOT Tokens: Transactions indicate the minting of cDOT tokens to self-controlled addresses around May. The Parallel Team announced the closure of the crowdloan service for cDOT-6/13, cDOT-7/14, cDOT-8/15, and cDOT-9/16 on July 19. The corresponding function was offline by August 1, followed by a massive burning of users' existing cDOT tokens by GC, which suggests evidence of Parallel Finance burning user positions instead of returning funds.

(3) Using the general council to remove the balance lock on Yubo's account loan position, recreate the borrowing, and transfer the corresponding DOT to Binance. Subsequently, applying the same general council process to reimpose the lock, effectively emptying it.

(4) mint sDOT to self, and do unstaking cheating, mint USDT to self

(5) mint GLMR, ACA and other parachain’s assets, noticed by Moonbeam team.

(6) Covertly modify the market collateral ratio requirements for lending and borrowing multiple times, followed by the mass execution of liquidations on users' positions.

The evidence provided here is just a small sample of numerous transactions. We have selected only a few due to time constraints, as conducting a thorough analysis from the raw data is not feasible at the moment.

For (2) Secret minting cDot parallel finance block

5930448-2 2024/05 Asset manager PF5 mint PF6 c8-15

5930457-2 2024/05 PF6 crowdloan redeem 100k DOT

5930462-2 2024/05 PF6 transfer DOT to self on polkadot

5931463-2 2024/05 Asset manager PF5 mint PF6 c8-15

5931484-2 2024/05 PF6 crowdloan redeem 100k DOT

5931495-2 2024/05 PF6 transfer DOT to self on polkadot

5934704-2 2024/05 Asset manager PF5 mint PF6 c8-15

5934989-2 2024/05 Asset manager PF5 mint PF6 c7-14

5934991-2 2024/05 PF6 crowdloan redeem 100k DOT

5934998-2 2024/05 PF6 transfer DOT to self polkadot

Burning user position:

6529428-2 The burn operation, executed by 0xrjman, is a single sample. This extrinsic is combined with oracle feed values.

There are simply too many mint/burn operations to keep track of. While they may argue, they will return if the user requests it; they’ve just chosen a poor approach. But how can a user track their previous position?

Checking PF5 and PF6 on Polkadot will reveal more insights. The cash flow provides a good summary, though it lacks a detailed breakdown of the affected users.

For (3) Remove democracy lock of loan position This account is possibly controlled by Yubo. [https://polkadot.subscan.io/account/12VhSPt4Lz6d9DWT1s2kTFkpomir3x5GgZNqUW2MnFf9g8z7?tab=transfer](https://polkadot.subscan.io/account/12VhSPt4Lz6d9DWT1s2kTFkpomir3x5GgZNqUW2MnFf9g8z7?tab=transfer) p8CSFqpqupT9yM6wNocKMqCagB2oTS5pdf6DKvzRinbKngQZB

5740643-2 2024/04 general council proposed by PF1, remove yubo account balance lock

5740650-2 PF1 vote yes,

5740653-2 TC3 vote yes

5740659-2 PF4 close and execute proposal (so here you may say PF4, asset manager is controlled by Yubo)

5740671-3 Lock removed, so yubo account minting loan position

5740681-4 Yubo XCM transfer borrowed DOT to Polkadot and directly to binance

5740684-2 general council proposed by PF1, set lock back

Everything happened within 10 minutes. This is not the only instance of cheating. As far as we can tell, the following account uses the same pattern (removing the lock method) to evade detection: p8B3QXweBQKzu8DhkggwJqFkUVQ53kB1RejtFQ8q3JMSFqqMd

For (4) mint sDOT cheat

6822134-2 2024/09/29 PF4 asset manager mint 30000 DOT equal sDOT to p8B3CQTp3mAZWQ9ikcDEjmS6ufphivZbpQ9NAx983UVvRqFhK 6822143-2 2024/09/29 unstake

6834989-2 2024/10/2 PF4 asset manager mint 30000 DOT equal sDOT to p8B3QXweBQKzu8DhkggwJqFkUVQ53kB1RejtFQ8q3JMSFqqMd 6834991-2 2024/10/2 unstake

mint USDT cheat

6901070-2 2024/10/14 PF4 asset manager mint p8B3CQTp3mAZWQ9ikcDEjmS6ufphivZbpQ9NAx983UVvRqFhK 30000 DOT equal sDOT and 120000 USDT

6868169-3 2024/10/08 PF4 asset manager minting PF6 the following asset 51391 DOT 31212 USDT 150000 sDOT 10787 ACA 146 GLMR

For (5) Attacking other parachain token 6900855-2 2024/10/14 PF4 asset manager minting 140K GLMR to 0xrjman.

Moonbeam is so great, response and close XCM channel just in a couple of hours. [https://forum.moonbeam.network/t/proposal-74-fast-track-proposal-to-secure-159k-glmr-in-response-to-potential-parallel-finance-chain-exploit/1898](https://forum.moonbeam.network/t/proposal-74-fast-track-proposal-to-secure-159k-glmr-in-response-to-potential-parallel-finance-chain-exploit/1898)

All of the events mentioned above took place prior to the hacking incident and are completely unrelated to our activities.  
  
(6) The tx are too many and each one is huge. We did not sugguest using polkadot.js viewing, since it will block your browser. We should wait until explorer backonline.

Based on PF5, PF6 and other known cheating account, we estimate a sum of 2M+ DOT, and other currency, (should be more than $16M given current market price)

As highlighted by the Moonbeam team, the current RPC maintained by Parallel Finance is experiencing instability, and it remains unclear whether this is intentional.

In the event that Parallel Finance shuts down their RPC for verification and investigation, we hope that node providers such as OnFinality and Dwellir, alongside explorers like Statescan and Subscan, will collaborate to restore the explorer and ensure it remains online.

Yubo has a prior criminal record related to the failure to return user funds. [https://cointelegraph.com/news/paraspace-team-clashes-with-ceo-over-alleged-whereabouts-of-protocol-funds](https://cointelegraph.com/news/paraspace-team-clashes-with-ceo-over-alleged-whereabouts-of-protocol-funds)

With respect to Thomas Schmidt and Jay Yao, we acknowledge that those who stand against unseen injustice are far nobler than we are. We disclose these matters only because doing so does not compromise our interests.

We will wait for Polkadot Community decision.

Subject: Parallel Finance Guilty- Request for Investigation

- Some projects can't access their Polkadot OpenGov funds on Asset Hub because the pure proxy multisig setup only works on the relaychain.
- To fix this, the setup needs to be replicated on Asset Hub using guidelines by Basti, a Polkadot Technical Fellowship Grand Architect.
- Projects with inaccessible funds include Heroic, PBA, Polytope Labs, and the Social Media Editorial Board.
- The Social Media Editorial Board recently received their funds after a referendum was submitted.
- A new referendum is being resubmitted with an updated call to help other projects access their funds.
- The pure proxy setup has been tested on Asset Hub using Chopsticks.
- A screenshot shows the successful test of the pure proxy setup on Asset Hub.

Pure Proxy Replication for accounts with inaccessible funds on Asset Hub

[DO NOT PLACE DECISION DEPOSIT] Check the new referendum submitted

- The Polkadot Ambassador Fellowship Manifesto aims to improve a program based on community feedback and past experiences.
- It focuses on learning from mistakes and creating a strong plan for the future.
- The manifesto emphasizes teamwork and community support instead of competition.
- It seeks to rebuild shared values and principles to bring people together.
- The program is designed to be easy to join, but also organized and structured.
- It invites everyone to participate and helps them find their own paths in the community.
- The goal is to create a strong, decentralized community that lasts over time.

The Polkadot Ambassador Fellowship

Please reject/ignore.

[Root] Please reject/ignore

- A new referendum proposes converting part of Polkadot Treasury's DOT assets into stable coins (USDT and USDC).
- Similar to Referendum 457, it uses Hydration's DCA feature to sell a fixed amount of DOT daily.
- The conversion plan spans one year.
- Unlike Referendum 457, this proposal sells a fixed amount of DOT per trade, not a fixed amount of stable coins.
- For more details, methodology, and calculations, see the [proposal document](https://docs.google.com/document/d/113gRdJ-LxqbzhSZZOewL1XPLINjOG0oFtNM9IZVQFX8/edit).

WHO: Polkadot Treasury

WHAT: Gradually convert part of DOT assets into stable coins (USDT and USDC) using Hydration's DCA feature to sell a fixed amount of DOT per day.

PRICE/TIMEFRAME/RESOURCES: Not specified. Refer to the proposal doc for more details.

Convert Part of DOT Assets to Stablecoins

DAO designs today use network treasuries that start with speculation. These treasuries can cause problems and don't help people work together smarter. A new idea is to create a special type of network token that can only be used for specific goals on the network. This helps the network's own stablecoin grow and keeps the money within the network. There is a picture to help explain this idea. There is also information about similar ideas from the past.

Current DAO designs operate around network treasuries bootstrapped via speculation.

In practice, these treasuries become a liability.

Incentives collapse, rather than expand collective intelligence.

Alternative: [_mint_ illiquid/vesting network token](https://github.com/kabocha-network/pallet_mint_with_fee) for [objective on-chain impact](https://github.com/virto-network/virto-communities/issues/62) — driving economic adoption of native stablecoin issued by [Brale](https://rfc.decent.partners/t/funding-brale-integration-with-kusama-assethub/57) with yield staying within ecosystem.

![image.png](https://i.ibb.co/GvKJhwj/image.png)

---

[prior art](https://rfc.decent.partners/t/burn-the-kusama-treasury-by-setting-balance-to-0-opengov-v1/43)

WHO: Not specified
WHAT: Proposing an alternative approach to current DAO designs by minting illiquid/vesting network token for on-chain impact and driving economic adoption of native stablecoin issued by Brale with yield staying within ecosystem.
PRICE/TIMEFRAME/RESOURCES: Not specified.

forceSetBalance treasury to 0

### Proposal Summary

- **Objective**: Reduce the minimum balance (minBalance) of USDT and USDC on AssetHub from 0.07 to 0.01.
- **Context**: Following the successful launch of Novasama's Telenova app, discussions aim to make Polkadot surpass competitors like Solana and Tron in stablecoin payments.
- **Proposed Changes**:
  - Lower minBalance of stablecoins to $0.01.
  - Reduce transaction fees on AssetHub by a factor of 10.
  - Achieve sub-1-second block times through Elastic Scaling.
- **Impact**: These changes, combined with apps like Telenova, could make AssetHub (and Polkadot) the preferred platform for fast, cheap, and reliable stablecoin transfers.
- **Testing**: The proposal was tested successfully using Chopsticks by experienced developers.

**Proposal to reduce the minimum balance of USDT and USDC on AssetHub to $0.01 from $0.07 to improve stablecoin payments and transfers on Polkadot.** This proposal is part of a larger plan to reduce transaction fees and block times on AssetHub and make Polkadot a hub for cheap, fast, and reliable stablecoin transfers. The proposal was tested successfully and prepared by a member of the Fellowship.

Reduce minBalance of USDT/C to 0.01

lol - NAY

- There is a referendum about giving money to the Fellowship sub-treasury.
- The plan is to send 2 million DOT from the main Treasury.
- The amount was increased from 1 million to 2 million based on feedback.
- The Fellowship can directly approve funding proposals.
- Teams with technical projects can ask for support from the Fellowship.
- Other groups can also give proposals from their own sub-treasuries.
- Future changes could help automatically send money to sub-treasuries.

WHO: Polkadot community

WHAT: Referendum to send 2 million DOT from the "main" Treasury to the Core Fellowship sub-treasury for direct funding proposals

PRICE/TIMEFRAME/RESOURCES: Not specified

Funding the Technical Fellowship Sub-Treasury

PLEASE VOTE NAY

We have a new proposal that is very important because it helps with privacy and other big things. We are sharing it again because we think it is a good idea. Here is where you can find more information about it:

- Complete proposal: [link](https://docs.google.com/document/d/13eaYivnnSyxfvFBItl-4u93zraJ1tPoRBGcNj8vvnf4/edit?usp=sharing)
- Previous proposal: [link](684)
- Video about the discussion: [link](https://youtu.be/OKrt2gGe4Cw)
- Questions and answers from before: [link](https://docs.google.com/document/d/1ULiTo7-pO42GbxBjI0hxMImvkXgEm5KXB09eF0zHwoo/edit?usp=sharing)

We made some changes based on what people said:
1. We will focus more on Moonbeam.
2. We will go from Gold to Platinum support.
3. We will have more help hours, from 200 to 400.
4. More people can learn, from 10 to 30.
5. We will have more licenses for investigating, from 5 to 7.

Cancelled

Root Proposal

We have decided to resubmit the proposal through the root track due to its strategic significance and the privacy concerns it addresses, which have been voiced as a concern. This proposal is not merely about financial expenditure; it encompasses broader implications that require careful consideration. We believe that the root track is the most suitable and comprehensive platform for presenting such an important referendum.

For a complete proposal, please refer to the following — [link](https://docs.google.com/document/d/13eaYivnnSyxfvFBItl-4u93zraJ1tPoRBGcNj8vvnf4/edit?usp=sharing)

Previous proposal #684 — [link](684)

Video Resolving Previous Discussion — [link](https://youtu.be/OKrt2gGe4Cw)

Doubts Q&A from Previous Debates — [link](https://docs.google.com/document/d/1ULiTo7-pO42GbxBjI0hxMImvkXgEm5KXB09eF0zHwoo/edit?usp=sharing)

Based on community feedback, we announce the following improvements compared to the previous referendum:

-   **Prioritizing onboarding for Moonbeam**
-   **Upgrading support tier**: Support will be extended from **Gold to Platinum**
-   **Doubling ongoing case support hours**: The allocation for ongoing case support will increase from **200 hours to 400** hours
-   **Tripling training capacity**: The number of people eligible for training will expand from **10 to 30**, allowing more team members to benefit from our programs.
-   **Increasing investigation licenses**: The number of licenses for investigative solutions will be increased from **5 to 7**

WHO: The proposal does not specify a particular organization or individual.

WHAT: The proposal outlines improvements to a previous referendum, including prioritizing onboarding for Moonbeam, upgrading support tier, doubling ongoing case support hours, tripling training capacity, and increasing investigation licenses.

PRICE/TIMEFRAME/RESOURCES: The proposal does not specify a particular cost or timeframe for implementing the improvements.

Chainalysis analytics solutions on Polkadot Network

VOTE NAY, WRONG PRE-IMAGE

- Some important decisions in a system should not be delegated to others.
- The Root track, Wish for Change track, and Treasurer track are very important and should not be delegated.
- Delegation is good for less important tasks but risky for critical ones.
- Important decisions, like marriage or divorce, should not be handled by someone else.
- This is to protect the system and make sure important decisions are made carefully.
- It’s not about targeting anyone, but about keeping the system safe.

Proposal: Do not allow delegations on Root, Wish for Change, and Treasurer tracks due to their vital importance. Trusting a third party for such critical actions is risky. This is not targeted at DV, but rather to protect the system's integrity. No specific price/timeframe/resources mentioned.

error - vote NAY

### Phala Network Referendum Summary

- **Purpose**: To transfer $PINK tokens from Phala's sovereign account on Polkadot to a sibling account on AssetHub.
- **Background**: Phala received 18,862,885 $PINK tokens from the PINK team, but mistakenly provided the wrong account.
- **Issue**: The sovereign account on AssetHub cannot be controlled directly, so the tokens cannot be moved without a referendum.
- **Solution**: A referendum is needed to move the tokens via XCM from Polkadot.
- **Outcome**: If passed, the tokens will be moved to the correct sibling account.
- **Distribution**: The tokens will be distributed to the Phala community based on a strategy proposed by the community.
- **Community Involvement**: The distribution plan was discussed and approved by the Phala community.
- **Next Steps**: Community members are encouraged to vote on the referendum.

Phala Network proposes a referendum to move $PINK from their sovereign account to their sibling account on AssetHub, to distribute it to their community. The proposal needs a referendum to send an XCM message from Polkadot, and the distribution will follow a strategy proposed by the community.

Proposal for unlocking $PINK from Phala soverign account to sibling account

whitelisted_caller

wish_for_change

staking_admin

treasurer

lease_admin

fellowship_admin

general_admin

auction_admin

referendum_canceller

referendum_killer

small_tipper

big_tipper

small_spender

medium_spender

big_spender

Referenda Root

Origin able to dispatch a whitelisted call.

Origin for signaling that the network wishes for some change

Origin able to cancel slashes and manage minimum commission.

Origin for spending up to 10,000,000 DOT from the treasury as well as generally administering it.

Origin for managing the composition of the fellowship.

Origin able to spend around 250 DOT from the treasury at once.

Origin able to spend around 1,000 DOT from the treasury at once.

Origin able to spend around 10,000 DOT from the treasury at once.

Origin able to spend around 100,000 DOT from the treasury at once.

Origin able to spend up to 1,000,000 DOT from the treasury at once.

[0] Origin: Root