Further to the Hydrated Strategies discussions - this proposal, if approved, will transfer ~$1,100,000 equivalent stablecoins (+ 0.1 WETH for gas) to the 3/5 threshold multisig 16RJh4z1eUHpC3ntre9H2noKGKxihkSqog9PBt9bRbAnj4RE consisting of the following signers:
- Leemo
- Crane
- lolmcshizz
- Giraffe
- Jose
The multisig signers will withdraw the stablecoins to Ethereum mainnet and convert them all to USDC, before transferring 1,100,000 USDC to 0x2e874D423499c61fbe15C1D78Ea417f690210335 - the Sigil EVM deposit address. Any leftover stablecoins will be returned to the Hydration Treasury as HOLLAR.
The management of the relationship with Sigil will be the responsibility of Intergalactic Limited - who will provide quarterly attestations on-chain on Hydration regarding the current value of the deposit.
Funds can only be withdrawn from Sigil by Intergalactic Limited after instruction from HDX holders through referenda - Sigil will only withdraw funds to the Hydration Sibling account on Polkadot Hub 13cKp89Uh2yWgTG28JA1QEvPUMjEPKejqkjHKf9zqLiFKjH6