The money market on Interlay is quite under utilised at the moment. Bull market is coming (perhaps) so may be more demand to borrow against assets and leverage up etc.  

If there were more assets allowed on there which people could use as collateral then it can grow bring people over to Interlay.

Initially thought should start with the largest market cap projects such as GLMR (and ASTR?) as that might grow TVL fasters but I think money markets exist for those (e.g. Moonwell etc) and they also have decent yields so maybe no one wants to lend?

I want to start with HydraDX given they are focused on Defi and the Interlay x Hydra founders are working together on Polkadot Defi unit. 

Not sure how this plays in to Hydra who will likely have a money market also in future and also understand that the hub on interlay was to focus on BTC/Stables etc so please discuss.

Add other assets on Money Market - starting with HDX?

With the aim of making the Interlay website more accessible to the international community, it is proposed to implement multilingual support. The current version of the site supports only English, limiting accessibility for users who speak other languages.

**<ins>Proposal</ins>:**



**1.** Implement a language selection system on the site, where languages will be represented in formats such as "en-EN", "ru-RU", etc.

**2.** Language files should be in .json format or another suitable format that allows for easy addition and editing of translations.

**3.** All language files should be hosted on GitHub, allowing the community to actively participate in the translation process by offering their versions or editing existing ones.

**<ins>Objective</ins>:**

To make the Interlay website more inclusive and accessible to the international community, as well as to activate community participation in the content localization process.

**<ins>Russian</ins>**

**Описание:**

С целью сделать веб-сайт Interlay более доступным для международного сообщества, предлагается внедрить многоязычную поддержку. Текущая версия сайта поддерживает только английский язык, что ограничивает доступность для пользователей, говорящих на других языках.

**Предложение:**

Внедрить систему выбора языка на сайте, где языки будут представлены в формате, например, "en-EN", "ru-RU" и т.д.

Языковые файлы должны быть в формате .json или другом подходящем формате, который позволит легко добавлять и редактировать переводы.

Все языковые файлы должны быть размещены на GitHub, чтобы сообщество могло активно участвовать в процессе перевода, предлагая свои версии или корректируя существующие.

**Цель:**

Сделать веб-сайт Interlay более инклюзивным и доступным для международного сообщества, а также активизировать участие сообщества в процессе локализации контента.

Adding Multilingual Support to the Interlay Website

With the aim of making the Interlay website more accessible to the international community, it is proposed to implement multilingual support. The current version of the site supports only English, limiting accessibility for users who speak other languages.

Proposal:

Implement a language selection system on the site, where languages will be represented in formats such as "en-EN", "ru-RU", etc.
Language files should be in .json format or another suitable format that allows for easy addition and editing of translations.
All language files should be hosted on GitHub, allowing the community to actively participate in the translation process by offering their versions or editing existing ones.
Objective:

To make the Interlay website more inclusive and accessible to the international community, as well as to activate community participation in the content localization process.

**Russian**


SubSquare Platform for Governance

Plugins
•
Enabled plugins:
Web Requests logo

User
Что такое subsquare.io

ChatGPT
Used Web Requests
SubSquare.io представляет собой платформу, которая усиливает управление в рамках Substrate. SubSquare позволяет членам сообщества предлагать, обсуждать и голосовать по предложениям по управлению. Вот некоторые ключевые особенности и преимущества SubSquare:

Основные функции: SubSquare предоставляет богатые функции для помощи пользователям в изучении данных управления, голосовании по референдумам и управлению казначейством. Это включает в себя визуализацию управления, управление казначейством, предложения, вознаграждения и советы.

Преимущества: Платформа предлагает улучшенный пользовательский опыт, детализированную хронологию, богатый редактор, мобильную дружелюбность, дружелюбие к взаимодействию с цепочкой и вход через DID с децентрализацией данных.

Интеграция: SubSquare интегрирован с несколькими ведущими проектами в экосистеме Polkadot, такими как Polkadot, Kusama, Khala, Phala и многими другими.

Таким образом, SubSquare является мощным инструментом для участников экосистемы Substrate, позволяя им активно участвовать в процессе управления.

Важно: Похоже, у меня есть специальное сообщение от Web Requests. Подождите немного, пока я его получу!




User
Напиши ждя него от моего имени предложения на голосования.

Суть в том что сейчас web сайт interlay  имеет только английский язык.

Нужно сделать так, чтобы языки выбрались через .json или любой другой подходящий формат. И содержал названия языков типо en-EN, или ru-RU.

Все эти языковые файлы должны быть доступны на GitHub. Чтобы сообщество помогало создавать переводы на другие языки.

ChatGPT
Конечно, вот предложение для голосования на основе вашего запроса:

Заголовок: Добавление многоязычной поддержки на веб-сайт Interlay

Описание:

С целью сделать веб-сайт Interlay более доступным для международного сообщества, предлагается внедрить многоязычную поддержку. Текущая версия сайта поддерживает только английский язык, что ограничивает доступность для пользователей, говорящих на других языках.

Предложение:

Внедрить систему выбора языка на сайте, где языки будут представлены в формате, например, "en-EN", "ru-RU" и т.д.
Языковые файлы должны быть в формате .json или другом подходящем формате, который позволит легко добавлять и редактировать переводы.
Все языковые файлы должны быть размещены на GitHub, чтобы сообщество могло активно участвовать в процессе перевода, предлагая свои версии или корректируя существующие.
Цель:

Сделать веб-сайт Interlay более инклюзивным и доступным для международного сообщества, а также активизировать участие сообщества в процессе локализации контента.

**Description**:

With the aim of making the Interlay website more accessible to the international community, it is proposed to implement multilingual support. The current version of the site supports only English, limiting accessibility for users who speak other languages.

**Proposal**:

1. Implement a language selection system on the site, where languages will be represented in formats such as "en-EN", "ru-RU", etc.
2. Language files should be in .json format or another suitable format that allows for easy addition and editing of translations.
3. All language files should be hosted on GitHub, allowing the community to actively participate in the translation process by offering their versions or editing existing ones.

**Objective**:

To make the Interlay website more inclusive and accessible to the international community, as well as to activate community participation in the content localization process.



Title: Adding Multilingual Support to the Interlay Website

Within Interlay, staking serves as a means of participating in governance activities. Consequently, the current term "Staking" is not entirely fitting, and I propose a change to expressions like "Vote" or "Voting" to better reflect its purpose. Similar discussions are also ongoing within the Astar Network.

Furthermore, the current state of governance voting is characterized by decisions being made based on a very small number of votes. Individuals who engage in staking merely for the purpose of earning interest are benefiting from the "wise" decisions of those participating in governance. However, this situation is unhealthy and warrants the introduction of incentives for active participation in voting.

To address this, it's advisable to initiate efforts targeting those who have been participating in voting from the early stages. This could involve providing them with initial incentives through airdrops or applying additional incentive interest rates on top of the regular staking rates. Such interventions would encourage individuals who are currently staking but not participating in governance to become more engaged. As the number of active participants in the project grows, I believe it will lead to lively discussions and an overall increase in the network's value.

Proposal to Modify Staking Interest Rates Based on Participation Rate in Voting and Rename Staking, Along with Incentivizing Voting

Interlay's INTR token has experienced a significant decline of nearly 90% since its launch, partly influenced by the bear market. Despite the active participation of various investors who have engaged in project governance voting, discussions, and promotion on social media platforms like Twitter, the project is currently facing considerable economic challenges. Particularly, those who invested in Interlay from the beginning have incurred substantial losses, and the situation has led to a scenario where latecomers are acquiring INTR tokens at a lower cost.

In my personal opinion, I believe that the group of investors who have been involved since the initial stages of the project could potentially benefit from certain incentives. Therefore, I propose an airdrop specifically targeted at accounts that have held INTR tokens for an extended period since the inception of the project.

Feasibility of Airdrops Targeted at Long-Term Holders

Предлогаю реализовать перевод сайта через файлы .xcml

Так было на ранней стадии при разработке телеграмм.

Это позволит сообществу перевести сайт на более чем 160 языков. Любой сможет предложить вариант своего перевода в гитхаб.

Добавить перевод на разные языки

Предлогаю реализовать перевод сайта через файлы .xcml 

Так было на ранней стадии при разработке телеграмм.

Это позволит сообществу перевести сайт на более чем 160 языков. Любой сможет предложить вариант своего перевода в гитхаб.

Добавить возможность выбора языка на сайте.

Are you INTR holders aware of how much of the vote to decide the future of Interlay is currently being decided by the volume of vINTRs?

At the moment, only less than 1% of the tokens in circulation are being voted on by a very low number of "willing voters".
How would you feel if the turnout in your country's elections is less than 1%?

What are the causes? I think there is one major cause.
That is, whether you participate in voting enthusiastically or just do staking without thinking and sleep, the rate of staking you get is the same.

Currently, the "motivated voters" continue to make "wise decisions" and those who do not participate in voting are not disadvantaged at all.
However, in the future, when shorting becomes available on the exchanges, for example, there may be cases in which INTR's misjudgment will benefit a certain segment of the population.

Of course, I understand that some people are too busy to participate in every discussion every time.
However, when I looked at the current turnout, I thought the willingness of the holders to participate in the quagmire was too low.

Also, we are fortunate that the discussions that have been the subject of voting so far have been informative and
Those who have not voted are in a position to benefit equally from the decisions of those who have voted.
If that is the case, then we should receive a somewhat higher rate of return for those who voted than for accounts that were simply staked and left alone.
I believe that they should receive a somewhat larger interest rate.

I would expect that having the interest rate vary depending on whether or not a vote is cast would greatly increase participation in the voting process.
This will allow the community to continue to make wise decisions on beneficial matters with a large number of votes from the community, even if malicious votes are generated in the future.

Next, I have a couple of suggestions for changes to the Staking mechanism.
One is to increase the current Staking allocation to 0.8 times the existing amount and distribute 20% of that reduced amount once a month based on the amount of vINTRs that have voted.
This is based on the idea that the profits of the non-voters are supported by the voters, and considers the act of voting as compensation for labor.
Ideally, though, every vote would be cast every time.
To be realistic, we classify anyone who participates in voting even once a month as a "voting participant.

If there are no deals to vote on in a given month, the incentive will be carried over to the next month.
For this deal, all accounts participating in the voting will earn the incentive.

If you have an opinion in favor of or against these interest rate changes, you may participate in the voting to protect your own interests.
We hope to get a lot of people's opinions.

Translated with www.DeepL.com/Translator (free version)

Proposed changes in staking interest rates in proportion to vote participation

### Description

The Interlay - Astar XCM channel will be established and live in this upcoming week. This opens the door for bringing iBTC liquidity to the Astar network and expand the DeFi use cases for iBTC holders. Once there’s enough iBTC liquidity and all requirements are met, Interlay plans to introduce iBTC as a borrowing collateral asset on an Astar money market -currently exploring SiO2 and Starlay-. Interlay will take the first step by creating an iBTC pool on Arthswap, the DEX with highest TVL and asset availability on Astar network.

**Decision to be made: which asset does the Interlay community want iBTC to be paired with on Arthswap?**

As usual, there are a few factors to consider, including liquidity, impermanent loss risk, and diversification of integrations. Please keep in mind that in this particular case, the main goal is to create enough liquidity for liquidations to enable iBTC as collateral for borrowing on Astar money markets. The degree of liquidity in the pool will determine iBTC liquidation capacity which is the single biggest factor for money markets to calibrate the supply cap of iBTC as collateral.

You can find existing trading pairs on Arthswap here: https://dexscreener.com/astar/arthswap

This poll suggests listing one of the following pairs:

## **iBTC pair listing options**

**1) iBTC/WETH**

**Pros**
- Creates a way to get Ethereum users into iBTC without bridging WBTC onto Astar
- High WETH liquidity already on ArthSwap (~$1.3m expecting more to come)
- WBTC/WETH among the most liquid pairs on Ethereum
- Most likely does not require many incentives (high correlation + high quality tokens = low IL risk, high trading volume on similar pairs on Ethereum = high fees)

**Cons**
- Bridging risk

**2) iBTC/DOT**

**Pros**
- Polkadot native pair
- Already good liquidity on ArthSwap (~$800k)
- Most likely does not require many incentives (high correlation + high quality tokens = low IL risk)

**Cons**
- Naturally competes with DOT staking alternatives (sDOT, LDOT, etc.)
- This iBTC/DOT option will be likely deployed on Parallel soon (already voted)

**3) iBTC/celUSDC**

**Pros**
- USD pairs usually have high trading volume, which means more fees and hence less incentives are required to have a competitive APR

**Cons**
- No correlation → High IL risk
- Bridging risk
- An iBTC/multiUSDC is available on Beamswap DEX

iBTC pool on Arthswap DEX (Astar) - Which token pairs?

Last week, the process of opening the XCM channels with Parallel was started as a first step to create additional DeFi use cases for iBTC, such as borrowing and lending. A prerequisite for money markets, and other interesting use cases, is to have enough iBTC liquidity on the Parallel chain. 

Hence, the next step is to create a new iBTC pool on Parallel. Once enough liquidity is built up, we plan to add iBTC as borrowing collateral to the Parallel Money Market later on, once we identify and meet the requirements.

To ensure Parallel users can easily mint and move iBTC over via XCM, INTR needs to be available on the Parallel chain. 

**Decision to be made: which asset does the Interlay community want iBTC and INTR to be paired with?**

As usual, there are a few factors to consider, including liquidity, impermanent loss risk, and diversification of integrations. Please keep in mind that in this particular case, the main goal is to create enough liquidity for liquidations to enable iBTC as collateral for borrowing on Parallel money market. The degree of liquidity in the pool will determine iBTC liquidation capacity which is the single biggest factor for Parallel to calibrate the supply cap of iBTC as collateral.

You can find the top liquid assets on Parallel here: [https://analytics.parallel.fi/amm](https://analytics.parallel.fi/amm)

This poll suggests listing one of the following pairs:

## **iBTC options**

**(1) iBTC/sDOT**

- Pros: Most liquid token on Parallel, additional yield from liquid staking
- Cons: Protocol risk, risk of sDOT depegging from DOT, sDOT yield generation creates ~1% IL p.a. (given constant iBTC price)

**(2) iBTC/DOT**

- Pros: Polkadot native (no bridging or protocol risk), 2nd most liquid token on Parallel, highest availability in the Polkadot ecosystem (measured by market cap)
- Cons: Forgo staking yield when provisioning DOT for liquidity (compared to sDOT)

`--`

## **INTR options**

**(3) INTR/sDOT**

- Pros: Most liquid token on Parallel, additional yield from liquid staking
- Cons: Protocol risk, risk of sDOT depegging from DOT, sDOT yield generation creates ~1% IL p.a. (given constant iBTC price)

**(4) INTR/DOT**

- Pros: Polkadot native (no bridging or protocol risk), 2nd most liquid token on Parallel, highest availability in the Polkadot ecosystem (measured by market cap)
- Cons: Forgo staking yield when provisioning DOT for liquidity (compared to sDOT)

**(5) INTR/PARA**

- Pros: Polkadot native (no bridging risk)
- Cons: Less liquidity than DOT

iBTC and INTR pools on Parallel - Which token pairs?

Last week, the process of opening the XCM channels with Parallel was started as a first step to create additional DeFi use cases for iBTC, such as borrowing and lending. A prerequisite for money markets, and other interesting use cases, is to have enough iBTC liquidity on the Parallel chain. 

Hence, the next step is to create a new iBTC pool on Parallel. Once enough liquidity is built up, we plan to add iBTC as borrowing collateral to the Parallel Money Market later on, once we identify and meet the requirements.

To ensure Parallel users can easily mint and move iBTC over via XCM, INTR needs to be available on the Parallel chain. 

**Decision to be made: which asset does the Interlay community want iBTC and INTR to be paired with?**

As usual, there are a few factors to consider, including liquidity, impermanent loss risk, and diversification of integrations. Please keep in mind that in this particular case, the main goal is to create enough liquidity for liquidations to enable iBTC as collateral for borrowing on Parallel money market. The degree of liquidity in the pool will determine iBTC liquidation capacity which is the single biggest factor for Parallel to calibrate the supply cap of iBTC as collateral.

You can find the top liquid assets on Parallel here: [https://analytics.parallel.fi/amm](https://analytics.parallel.fi/amm)

This poll suggests listing one of the following pairs:

## **iBTC options**

**(1) iBTC/sDOT**

- Pros: Most liquid token on Parallel, additional yield from liquid staking
- Cons: Protocol risk, risk of sDOT depegging from DOT, sDOT yield generation creates ~1% IL p.a. (given constant iBTC price)

**(2) iBTC/DOT**

- Pros: Polkadot native (no bridging or protocol risk), 2nd most liquid token on Parallel, highest availability in the Polkadot ecosystem (measured by market cap)
- Cons: Forgo staking yield when provisioning DOT for liquidity (compared to sDOT)

`--`

## **INTR options**

**(3) INTR/sDOT**

- Pros: Most liquid token on Parallel, additional yield from liquid staking
- Cons: Protocol risk, risk of sDOT depegging from DOT, sDOT yield generation creates ~1% IL p.a. (given constant iBTC price)

**(4) INTR/DOT**

- Pros: Polkadot native (no bridging or protocol risk), 2nd most liquid token on Parallel, highest availability in the Polkadot ecosystem (measured by market cap)
- Cons: Forgo staking yield when provisioning DOT for liquidity (compared to sDOT)

**(5) INTR/PARA**

- Pros: Polkadot native (no bridging risk)
- Cons: Less liquidity than DOT

Now that Interlay network and iBTC launch have been completed and we shared a DeFi roadmap overview, we’d like get your input on the next batch of pools we analysed.

The next immediate step is creating a new iBTC pool on Curve and Beamswap, and there’re a couple of combinations to mix and match.

Regarding Beamswap, we launched an off-chain voting [poll](https://voting.opensquare.io/space/interlay/proposal/QmRnD1yeP3PgVqDRUWpv7HPxTmD93WD66PfhD5xWbbdwAG) to gauge your interest and results were aligned with our previous analysis. Results: INTR, DOT, multiUSDC (in that order).

Based on the results, we would like to propose different options for the pools on Curve and Beamswap, as the decision on the token pair for the pool on Beamswap would also impact the pool to be set up on Curve. We have lined up different combinations which we think would be most useful and align with the community vote. Based on internal evaluations and discussions with Beamswap, we suggest the first option, for the reasons we listed below.

--
**(1) iBTC/USDC (Beamswap) + iBTC/INTR/DOT (Curve)**

Pros:
- One pool that serves many use cases for all tokens used in the Interlay ecosystem
- No additional bridging or protocol risk in the Curve pool
- Meta-pools can be added to the Curve pool that will allow trading of additional assets with that pool without adding any of the mentioned risks to that pool
- All tokens in the curve pool are available for liquidity provision and the pool as potential to grow with the Interlay ecosystem

Cons:
- Centralized (Circle), bridge risk (multichain bridge) in the Beamswap pool

--
**(2) iBTC/INTR (Beamswap) + iBTC/DOT/USDC (Curve)**

Pros:
- Interlay native tokens only (Beamswap)
- Polkadot native asset (no bridging risks)

Cons:
- Centralized (Circle), bridge risk (multichain bridge) in the Curve pool

--
**(3) iBTC/DOT (Beamswap) + iBTC/INTR/USDC (Curve)**
Same as for (2) but in a slightly different setup.

--
**(4) Other options / None of the above**
--

If you have other options that you would like to propose, please leave a comment in the discussion section with your arguments for that specific option.

Some general comments we would like to share on the pools above:

- USDC could be replaced by aUSD or USDT, please indicate if other options are preferred
- Curve pools can be calibrated to have deeper liquidity (less slippage) by design compared to Uniswap V2 like pools
- Meta-pools can be set up to enable trading between a base pool (e.g. iBTC/DOT/INTR) and another token, without introducing the risk, this token bears, to the base pool. You can find more information on this in the [Curve docs](https://resources.curve.fi/lp/base-and-metapools).

---

In addition to the pools above, we are explore the following, which could be added after the execution of the options above, so please leave your feedback on those options in the discussion section:

- BTC 3pool: iBTC/wBTC/renBTC
- Polkadot native pool: L1 tokens of large parachains: ACA, GLMR, INTR, PARA, ASTR

iBTC pools on Curve and Beamswap - Which token pairs?

One of the next integrations, with the fastest time-to-market, is Beamswap, a DEX on Moonbeam (https://beamswap.io/).

The Beamswap team would like to open an iBTC pool - the question at hand: which asset does the Interlay community want iBTC to be paired with?

There are a few factors to consider, including liquidity, impermanent loss risk, and diversification of integrations.

You can find the top liquid assets on Beamswap here: https://analytics.beamswap.io/tokens

This poll suggests picking one of:

**(A) multiUSDC**

- Pros: no 1 in liquidity ($580k), stablecoin.
- Cons: centralized (Circle), bridge risk (multichain bridge)

**(B) GLMR**

- Pros: no 2 in liquidity ($570k), Polkadot native (no bridge risk). Overall high liquidity on Moonbeam
- Cons: volatile asset, iBTC/GLMR pool already on Stellaswap

**(C) multiBUSD**

- Pros: no 3 in liquidity ($370k), stablecoin
- Cons: centralized (Binance), bridge risk (multichain bridge)

**(D) DOT**

- Pros: most liquid asset on Polkadot, used as iBTC collateral, native (no bridge risk)
- Cons: low liquidity on Beamswap, competes with liquid staking

**(E) INTR**

- Pros: Interlay-native pairing, INTR paid to Vaults as rewards, native (no bridge risk)
- Cons: no liquidity on Beamswap, limited on Moonbeam (needs to come via XCM)

**You can vote for one option (your highest preference).**
---
**@Vaults / existing iBTC users**: Please indicate if you are a Vault / existing iBTC user when you vote. Reason: while all INTR holders can and should vote, it helps to understand the demands of already active iBTC users specifically.

iBTC pool on Beamswap - Which asset pair?

Enable vault linear distribution following the withepaper tokenomics description.

Vault block rewards are ready to be activated, according to the Interlay tokenomics: 30% of 4 year supply (i.e., 300 million INTR), emitted as follows:

- 40% in the first year (120 million INTR)
- 30% in the second year (90 million INTR)
- 20% in the third year (60 million INTR)
- 10% in the fourth year (30 million INTR)

See details here https://interlay.subsquare.io/post/6



Vault rewards distribution

See the detailed proposal here: https://interlay.subsquare.io/post/5

Introducing an INTR/IBTC Reward rate

# Summary

When performing the final INTR crowdloan drop calculations, we made a mistake by factoring in only 5% for the early bird bonus instead of 10%.
This is an off-chain proposal and vote on how we wish to compensate the early bird crowdloan contributors.

# Description

When performing the final INTR crowdloan drop calculations, we factored in only 5% for the early bird bonus instead of 10% as announced here: https://docs.interlay.io/#/interlay/crowdloans?id=bonuses. The remaining 5% ended up being distributed to all crowdloan participants instead of only the early bird ones. 

This is a mistake on our side and we would like to remedy the situation. 

# Affected Accounts

- 3502 accounts contributed early to the crowdloan for a total of 1,027,328.436 DOT. They should have received an additional 0.965 INTR per DOT. Hence, a total of 1,583,357.999 INTR should be distributed to early contributors.
- All 14011 accounts received 0.575 INTR per DOT too much. The 5% from the early bird bonus was distributed across all contributors, meaning everyone received more than what they would have received if the early bird bonus would have been correctly calculated.

# Proposal

One way (and probably the only practically feasible) to remedy this is via a on-chain treasury proposal, transferring additional 0.965 INTR for each DOT locked (factoring into account the already received 0.575 INTR / DOT locked) to early bird bonus recipients. 

According to our calculations, this affects 3502 accounts that contributed a total of 1,027,328.436 DOT.

**This would mean a total of 1,583,357.999 INTR paid out by treasury.**

All other accounts that received more INTR are unaffected by this proposal and get to keep additional INTR.

## What is the actual proposal that we want you to consider for this off-chain vote:

Create a treasury proposal to compensate all early-bird contributors that fall under the following criteria/conditions:
1. The account qualifies for the early bird bonus, i.e., they contributed to the Interlay crowdloan before December 24, 2021.
2. The account has to have claimed their tokens via https://crowdloan.interlay.io/ before **July 31 (making this type of major redistribution is time-consuming and we will hence only prepare this once, so as to focus on iBTC).**
3. The INTR received as a result of that proposal would be directly transferable. This means those tokens will not be subject to a vesting schedule. This is due to technical limitations of the Substrate vesting pallet implementation. 

## Why are we doing an off-chain vote first?

Since this is a major proposal and will require preparation, we believe it is best for the community to first align and decide whether this is the way to move forward. 

The final treasury proposal will require an on-chain vote to be executed. We suggest waiting until the end of July to give everyone enough time to submit their crowdloan claim. 