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Governance Discussion 4

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Governance Discussion 2

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# NEAR in the Money Market

This is a plan to add NEAR to the Hydration money market. People voted on it, and it is a "Root" track proposal.

- NEAR can be used as collateral (something you promise) and can be borrowed.
- It has a 70% loan-to-value, a 75% liquidation threshold, and a 7% liquidation bonus.
- The supply cap is 248,459 NEAR and the borrow cap is 124,229 NEAR (about $1M and $500k).
- It uses the same interest rate curve as SOL, HYPE, ZEC, and SPY.
- A token called aNEAR is registered and can be used to pay fees.
- Trading routes are made so liquidations can always be settled.
- The Treasury's NEAR balance (about 4,341 NEAR) is supplied to the market as aNEAR.

Deciding

List NEAR in the money market

# HOLLAR PSM Facilitator Registration

This page is about a proposal to add the HOLLAR PSM on Base as a HOLLAR facilitator.

- **What it does:** It lets the HOLLAR PSM contract make new HOLLAR, up to a limit of 10,000 HOLLAR.
- **How it works:** People put USDC in on Base and get HOLLAR for it. When they give HOLLAR back, they get USDC back.
- **Safety cap:** The 10,000 HOLLAR bucket is the most HOLLAR the PSM can have out at one time.
- **Start state:** Nothing opens right away. Minting, redeeming, and deposits stay paused until groups vote to open them.
- **Launch limits:** At launch, up to 10,000 HOLLAR per 24 hours each way. Redeeming costs a small 5 bps fee. Minting is free. Deposits stop if USDC drops below $0.99.
- **Why Economic Parameters:** Only Root or Economic Parameters can make this call.
- **Testing:** The call was run on a test copy of mainnet at block 16,683,934. It used about 170,000 of 300,000 gas. A test mint of 100 HOLLAR and a redeem of 50 HOLLAR worked.
- **Track:** Economic Parameters.

Preparing

Register the HOLLAR PSM as a HOLLAR facilitator

Executed

Juicer launch

# Launch NEAR in the Omnipool

This proposal is about adding a new digital coin called NEAR to a trading pool called the Omnipool.

- The plan will move 39,065 NEAR (about $158,000) from the Treasury into the Omnipool.
- This is 90% of the NEAR the Treasury owns.
- NEAR will start trading at a price of 0.8051 H2O per NEAR.
- The Omnipool will only hold a small share (5% cap) of NEAR.
- The Treasury will own the NEAR in the pool.
- The proposal also sets up a route so other parts of the system can trade WETH for NEAR.
- The other 10% of the Treasury's NEAR will be added to the money market later in a separate vote.
- A committee is asked to approve (whitelist) the proposal so it can move forward.

Launch NEAR in the Omnipool

# Runtime Release v55.0.0

This page is about a proposed software update for the Hydration node, called version 55.0.0.

- The proposal asks for approval to release version 55.0.0.
- It adds a way to pause XCM (cross-chain messages).
- It adds a feature to find the best path for liquidations.
- It makes solver trades use tighter limits to reduce risk.
- It cleans up old government (governance) code.
- It fixes a problem where selling aTokens on Uniswap V3 pools could fail.
- It removes old migration files that are no longer needed.
- Full details are on the Galactic Council GitHub release page.

Authorise runtime release v55

# SPY Money Market Listing Proposal

- This is a plan to add SPY to the Hydration money market.
- People could use SPY as collateral and also borrow it.
- The plan allows borrowing up to 70% of SPY's value.
- There is a limit: 1,293 SPY can be supplied and 646 SPY borrowed.
- Fees and interest rates would work like other assets such as SOL.
- New trading routes would be set up so SPY trades and fees work smoothly.
- The Treasury's SPY (about 25.8) would be added to the market too.

List SPY in the money market

# Wormhole USDT and USDC Money Market Listing

This page is about a plan to add Wormhole USDT and USDC to the Hydration money market.

- It adds Wormhole versions of USDT and USDC so people can supply and borrow them on Hydration.
- The new reserves use the same settings as the existing USDT and USDC reserves.
- Each reserve has a supply cap of 2,000,000 and a borrow cap of 1,000,000.
- Both reserves join the Stablecoins eMode category.
- New aTokens are created: aUSDT (asset 1023) and aUSDC (asset 1021), and they can be used to pay fees.
- Stablecoin names are updated so each version is easy to tell apart, but tickers stay the same.
- The plan helps bring in stablecoin liquidity from outside Polkadot.
- Later votes will create new pools with these assets and add them as collateral in the HSM.

List Wormhole USDT and USDC in the money market

Hydration

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