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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
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👉 Post: https://www.gate.com/post/status/11758920
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Let’s give Kevin_Lee a warm welcome! 👏👏👏
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The Polkadot community proposed to establish a Bitcoin strategic reserve.
According to Gate News bot, as reported by Wu, community members of the Polkadot forum have proposed a new plan to establish a Bitcoin strategic reserve for the treasury. According to the preliminary proposal, 501,000 DOT tokens will be used, with 500,000 DOT for purchase and 1,000 DOT for paying transaction fees.
The purchase process adopts the Rolling DCA mechanism of the Hydration protocol, and tBTC is purchased in batches within one year. The purchased tBTC is planned to be injected into the Hydration Omnipool as liquidity. The scheme uses Threshold Network's decentralized non-custodial bridging scheme and adopts the threshold ECDSA wallet mechanism.
The proposal is currently still in the forum discussion stage and has not yet started the formal execution process on-chain.
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