This proposal, if approved, will launch the second HDX bonds event as approved through referendum #102.
The parameters are:
- Mint 22,000,000 HDX bonds with maturity at 2:22:22 on 4th January 2025 (~1 year) using HDX from the Treasury (to be replaced at a later date from the growth portion of HDX supply)
- Distribute those HDX bonds to accumulate DOT protocol owned liquidity (POL) via an LBP
- Initial DOT liquidity of 12,299 DOT to seed LBP to be taken from Treasury and returned when the event concludes
- Start trading at +22% premium to the spot price of HDX at the time that the referendum is put on-chain
- LBP to run for 36 hours
- LBP starting weights set to 85% HDX Bonds 15% DOT
- LBP finishing weights set to 40% HDX Bonds 60% DOT
- LBP swap fee (fee applied when selling HDX bonds back into LBP) set to 2%
- LBP start time block #18896404 (14:22 UTC 4th January)
- LBP end time block #18918004 (02:22 UTC 6th January)