BlockBeats News, June 13, recently, community members jump_BAHA_jump and Alice_und_Bob posted a proposal on the Polkadot forum to establish an initial Bitcoin strategic reserve for the Polkadot treasury. This proposal responds to the community’s vision from referendum #1394 (Wish for Change) and aims to enhance the long-term stability and risk resistance of the treasury through asset diversification. Currently, the proposal has just been posted on the Polkadot forum and has not officially been initiated on-chain.
#1394 Proposal: This is a proposal already passed under "Wish for Change," in which community member @Phunky suggested gradually converting 1 million DOT into Bitcoin as a new attempt towards treasury asset diversification.
The current proposal plans to use 501,000 DOT (of which 500,000 DOT will be used for conversion into tBTC, and 1,000 DOT for transaction fees). Execution method: leverage the DCA (Dollar-Cost Averaging) function of the Hydration Protocol to gradually convert 500,000 DOT into tBTC over the course of one year, and inject it into the Hydration Omnipool as liquidity.
BTC Asset Form: tBTC, a decentralized, non-custodial BTC bridging solution provided by Threshold Network, which employs a threshold ECDSA wallet mechanism.
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