Requesting "Top Up" of Ref #601 due to DOT price change
Beneficiary: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!
Comments (6)
Proposal Failed
3
of 3Summary
0%
Aye
0%
Nay
Aye (37)0.0 DOT
Support0.0 DOT
Nay (42)0.0 DOT
I agree with the top up Tom, since the dot varied a lot, it is fair that it has a complement of this variation value.-
The numbers look right and the team behind the proposal is reliable. My AYE for this.