This proposal, if approved, will:

• Transfer 118,000 DOT from the HydraDX Treasury to the Pure Proxy created for referendum #90 13RSNAx31mcP5H5KYf12cP5YChq6JeD8Hi64twhhxKtHqBkg
• Set the multisig created as part of the same referendum 16chKQ1RP5KcorA1kSdgmptDKtZSkxcw9TQ3gkJW3vuphVRX as STAKING PROXY and GOVERNANCE PROXY to the same Pure Proxy

Once enacted, the Pure Proxy will hold 218,000 DOT from HydraDX POL - 30,000 of which were reserved in the recent parachain auction.

This will allow the above HydraDX Council multisig to stake and start earning staking rewards with the remaining 188,000 DOT and, if decided through a separate community discussion, participate in Polkadot OpenGov.

Whilst the intention will be to always be earning staking rewards on the staked DOT, initially we will attempt to support long-term Hydra Head Sik in his endeavour to make the active set, by directly nominating the entire 188,000 DOT to his validator.

Staking rewards will be distributed to a second Pure Proxy 14kovW62mmGZBRvbNT1w5J7m9SQskd5JTRTLKZLpkpjmZBJ8 - which has only Parachain 2034 (HydraDX) as ANY PROXY - this setup will allow for simple monitoring of staking rewards.

🚨 Important Note! 🚨

These DOT are NOT being removed from the Omnipool - they are currently sitting idle in the HydraDX Treasury

Referendum #43 approved 1.33M DAI to be diversified into DOT for the second parachain lease period - HydraDX recently secured this slot for 30,000 DOT (~$204K at the time) and therefore these DOT are not currently allocated to a specific purpose.