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

treasurer

Executed

1 month top-up for Polkadot Hydration farms

- Hydration DAO wants to transfer 300,000 USDC to a multisig wallet controlled by 5 council members.
- The funds will be used to buy LDO, LINK, and SKY tokens through OTC (over-the-counter) trades.
- 100,000 USDC will be spent on each token (LDO, LINK, SKY).
- The goal is to get the best price by buying quickly and avoiding delays.
- After OTC trades, the remaining 100,000 USDT for each token will be added to the Omnipool.
- This helps diversify Hydration DAO's stablecoin holdings into other assets.

Transfer 300,000 USDC for LDO, LINK & SKY OTC

- A whitehat found a problem with the price system.
- They will get 25,000 USDT as a reward.
- The problem was fixed quickly, and no one lost money.
- The reward is big because the problem was important.
- The whitehat's address is `0x85ad712989eF693FdB0319F3322eCBB9D9426Bc1`.
- More details are in a report by Jakub Panik.

Bug bounty payout

- The Treasury has about 4.125 WBTC and 3.698 iBTC left after some actions.
- They want to use these to open new markets for LINK, LDO, and SKY using Snowbridge.
- BNB can't be used because it's not on Ethereum mainnet.
- First, they will swap WBTC and iBTC into stablecoins (USDT and USDC).
- Then, they will use these stablecoins to buy LINK, LDO, and SKY through OTC orders.
- The swaps will happen over 5 days, with trades every 8 minutes.
- Each trade will have a max slippage of 1.5% and up to 9 retries.
- This plan was discussed and approved in posts and referenda linked at the bottom.

Treasury swaps WBTC & iBTC -> USDC & USDT

- HDX buybacks with Treasury H2O are happening in small steps called tranches.
- The first tranche is almost done, and the second one will start soon.
- HDX holders wanted a slower schedule, so the time between buybacks has been doubled.
- Each tranche will swap 10,000 H2O for HDX.
- The swap will happen every 44 blocks with a small amount of H2O each time.
- There’s a limit on how much the price can change (1.5% slippage).
- The process will take about 22 days, but it might take a little longer.

HDX buyback with Treasury H2O - Tranche 2

Launch tBTC & AAVE Polkadot Hydration farms

- **Three Referenda for Polkadot Hydration Farms**: There are three proposals to change the farms.
- **Maintain APR**: Some farms like USDC/USDT, DOT, and others will keep their current rewards.
- **Adjust APR**: Some farms like CFG, KILT, and vASTR will have reduced rewards. INTR farm will close.
- **New Farms**: Two new farms, tBTC and AAVE, will be launched with high rewards.
- **Order of Execution**: The first proposal must happen first, followed by the second and third in order.

- This proposal wants to restart a plan to swap H2O for HDX.
- The plan failed before because the fees were too high.
- A new plan (Referendum #22) will make fees go down faster.
- The new swap will use 7,015 H2O.
- It will swap 2.222 H2O every 22 blocks.
- The slippage limit is 1.5%.
- It will try up to 9 times.
- The plan should last about 8 days.

HDX buyback with Treasury H2O - Tranche 1.1 (the rebirthening)

- The Treasury got `~55,000` H2O (worth `~$1.75M`) from referendum #10.
- A proposal suggests using Hydration DCA to buy HDX in small steps.
- First step: Swap `10,000` H2O for HDX.
- Each trade: `2.222` H2O every `22` blocks.
- Slippage limit: `1.5%`.
- Max retries: `9`.
- Expected to last `~11` days.
- More steps like this may follow.

[5] Origin: Treasurer