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.