Context

• In Referendum #748 the Treasury loaned 50 000 DOT to Pendulum so the Spacewalk bridge could post 200 % collateral for Stellar ↔ Polkadot transfers.

• Since then the bridge has gone live and SatoshiPay released Vortex, a fiat off-ramp that lets users swap Stellar-based stablecoins into EUR, ARS and BRL (via Moonbeam for EVM chains). Vortex has now cleared more than US $1.5 million in transactions across Europe and Brazil.

• To cut collateral costs and improve efficiency, an alternative BRL corridor has already been enabled by routing transfers through the Polkadot-native BRLA.digital stablecoin on Moonbeam.

• Work under way on further collateral-free paths across networks

Ask

We propose a symbolic Treasury motion with a 1 DOT transfer to the Treasury that signals an extension of the existing 50 000 DOT loan by six months (to 31 Jan 2026). Repaying now and re-requesting later would force a temporary scale-down of bridge capacity and interrupt EUR/ARS fiat ramps.

• The DOT stays in the same multisig and remains staked as vDOT during the extension.

• We want to extend the loan duration by six months so that we can keep the current paths via Spacewalk operational, while we are establishing other collateral-free routes for Vortex. Principal will be returned once collateral-free routes fully replace the original Stellar vaults.

Please vote Aye if you support keeping the loan active so the bridge and Vortex off-ramp can continue to operate without disruption while alternative routes are finalised.