Following on from discussion [#223 to diversify WBTC/ iBTC holdings to alternative BTC products](https://hydration.subsquare.io/posts/223) and [#224 to open more Omnipool markets & diversify our BTC](https://hydration.subsquare.io/posts/224) - I am creating this proposal as a first step to those discussed actions.

This proposal, if approved, will place the following on-chain remark:

`Authorize the technical committee to whitelist a follow-up referendum which will: 1) Suspend trading & addition of liquidity for 2-Pool shares in the Omnipool 2) Withdraw POL BTC 2-Pool position #5690 from the Omnipool 3) Withdraw all POL BTC 2-Pool shares in amounts equal to the ratio of WBTC & iBTC in the stablepool at the time of execution 4) Launch WBTC & iBTC trading directly in Omnipool at the market price of each asset at the time of submission of the whitelisted proposal`

The following proposal must be whitelisted due to the time sensitivity of removing & adding liquidity to the Omnipool - if waiting for a full 3-7 days, prices and token quantities can change drastically.

It will:

1) Suspend trading & addition of liquidity for 2-Pool shares in the Omnipool - *existing LPs will still be able to withdraw their liquidity and exit farms*
2) Withdraw POL BTC 2-Pool position #5690 from the Omnipool - *removing protocol owned stablepool shares from the Omnipool into the Treasury*
3) Withdraw all POL BTC 2-Pool shares in amounts equal to the ratio of WBTC & iBTC in the stablepool at the time of execution - *this will withdraw all protocol owned WBTC & iBTC from the stablepool*
4) Launch WBTC & iBTC trading directly in Omnipool at the market price of each asset at the time of submission of the whitelisted proposal




- This proposal is about changing how we handle Bitcoin (BTC) products in the Omnipool.
- It wants to stop trading and adding new shares for a specific pool (2-Pool).
- It will remove a specific BTC position (#5690) from the Omnipool and move it to the Treasury.
- It will also take out all BTC shares from the stablepool, based on the current ratio of WBTC and iBTC.
- After that, it will allow trading of WBTC and iBTC directly in the Omnipool at their market prices.
- This needs to happen quickly because waiting too long could change prices and amounts.
- Existing users can still take out their money and leave the farms.

remark

Executed

Submitted

DecisionStarted

DecisionDepositPlaced

ConfirmStarted

Confirmed

omnipool_admin

On-chain remark: BTC POL next steps

root

whitelisted_caller

referendum_canceller

referendum_killer

general_admin

treasurer

spender

tipper

economic_parameters

Origin able to dispatch a whitelisted call.

 Origin for spending very high amounts of HDX(<= 50M HDX) from the treasury as well as generally administering it.

Origin able to spend up to 2,222,222 HDX from the treasury at once.

Origin able to spend up to 50K HDX from the treasury at once.

Origin able to perform specific Omnipool-related actions.