The purpose of this proposal is to top up our total initial request from [REF #541](https://polkadot.polkassembly.io/referenda/541), as due to the fluctuation of DOT price, we received 13.95% less.

- Initial request: $34500, equivalent to 4471 DOT at $7.716 per DOT.

- Received (17.04.2024): $29687.44, equivalent to 4471 DOT at $6.64 per DOT.
 
- New request: $4812.56, equivalent to 724.78 DOT at $6.64 per DOT.

Given the successful deployment of the [Universal Hybrid Faucet](https://substratefaucet.xyz/) in production, we are now requesting the top up to fulfill our commitment of maintaining the faucet for 2 years, as proposed in the approved proposal. We refrained from rushing for the top up initially, prioritizing the completion of development.

View proposal [#541 here](https://polkadot.subsquare.io/referenda/541).

Thank you.


amount

beneficiary

- **Problem Statement:** Difficulty in opening XCM channels between Polkadot parachains due to the need for DOT deposits, hindering DeFi accessibility and use case development.
- **Significance:** Limited XCM channels on OG chains and delays in token availability on DEX highlight the need for more efficient channel opening processes.
- **Proposed Solution:** Deposit 2261 DOT into non-DeFi parachains' Child accounts to facilitate opening XCM channels, enhancing DeFi accessibility and increasing XCM traffic.
- **Expected Outcomes:** Accelerated opening of XCM channels, improved DeFi access, increased XCM traffic, and enhanced integration between chains.

#904 Top Up request: Universal Hybrid Substrate Faucet

No Active Proposals