REFERENDUM #644 "Top Up"
Proponent: ORSEN_SEAN - 1eUsBZgJuvpmVNBrBSRQ9gjPTuH6QMAnQrdwQ1ZXwa5FEvo
Beneficiary: Multi-sig - 13JJDv1yBfMtP1E66pHvm1ysreAXqkZHxY5jqFR4yKPfL2iB
Multi-sig with 9 trusted members of the community.
Status: Currently in contract negotiation with community approved sports sponsorship proposition.
No Funds have been transferred from Multi-sig, or will be transferred without full disclosure of contract terms.
Top Up Funds Requested: 598K DOT
In referendum #644 we requested a total of $8.82m with the day's EMA7 of $9.11 This was a total of 968k DOT. Current EMA7 is $6.12 at Block #21288919. The Multi-sig currently has insufficient funds to enter the agreement approved by the treasury.
In this referendum we are requesting a total of 598k DOT to cover this price difference with a 15% buffer to protect against further price volatility.
In the event of DOT Price increase, any funds in addition to the $8.82m requested for and approved by treasury during Referendum #644 will not be transferred from the Multi-sig and will be returned to the treasury.
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