⚠️Important Notice: Interlay Block Times Increased Due to Polkadot Relay Chain⚠️

- The block times on Interlay have increased due to an issue on the Polkadot relay chain. You can find more information about this issue at https://twitter.com/dev0_sik/status/1634593303608938497.
- Unfortunately, it is unclear when the situation will be resolved, and we cannot do anything about it at this time.
- This issue affects all parachains on Polkadot, not just Interlay.
- As a result of this issue, our block times on Interlay have increased from an average of about 12.5s to 28s. You can check our current block times at https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fapi.interlay.io%2Fparachain#/explorer/latency.
- Please note that due to the block time issues, the INTR block rewards are paid out slower (only every 28s instead of every 12.5s).

📢Kintsugi's Vault capacity model is now live! 📢

👉The old Vault reward distribution model is based on how much kBTC/iBTC has been minted with a Vault.
💡This model presented itself unsuitable, both in terms of fairness, capital efficiency, and benefit to protocol growth.
💰The capacity-based model hence takes into account kBTC/iBTC capacity, i.e., how much BTC a Vault can secure, unrelated to how much is already being used.
🚀 The capacity-based model focuses on increasing minting capacity for new users ahead of the Kintsugi and Interlay 2.0 DeFi hub launch, which aim to onboard significant numbers of BTC DeFi users onto Interlay.

Previous discussion post: https://interlay.subsquare.io/post/13
Updated vault docs: https://docs.interlay.io/#/vault/overview?id=fee-distribution-based-on-btc-capacity

FYI
Interlay is not affected by SVB or any of the other bank closures.
More focused than ever, getting ready to launch the best #Bitcoin DeFi products in the space.

Pay attention to our Twitter today.
We've got something fun coming 🤫
https://twitter.com/interlayHQ

📢 “Chaotic Kintsugi” Bitcoin Inscriptions: Announcing First Drop 📢

We're unveiling a captivating, limited-edition collection named Chaotic Kintsugi, minted as Bitcoin inscriptions – rare digital artefacts similar to NFTs that live on the Bitcoin blockchain.

Join the Kintsugi DeFi Hub waitlist and become a top referrer for a chance to win!

https://twitter.com/InterlayHQ/status/1636022576236331008?s=20

🗳Governance: DeFi Hub Activation on Kintsugi🗳

Attention community! We need you to decide on an important governance proposal: DeFi Hub Activation on Kintsugi.

This proposal aims implement the new AMM & lending market on Kintsugi!

https://kintsugi.subsquare.io/democracy/proposal/103

Voting starts on Monday! ⏳

🗳Vote to Launch the Kintsugi Bitcoin DeFi Hub🗳

The proposal to activate the Kintsugi Bitcoin DeFi Hub (along with a treasury-funded liquidity program) is up for a vote. If approved, the Hub will be going live on Thursday morning CET!

Your vote and participation are vital to make this happen. Join us in launching this exciting new Bitcoin DeFi Hub on Kintsugi!

https://kintsugi.subsquare.io/democracy/referendum/96

🚀DeFi Hub Live Demo with Interlay Co-Founders 🚀

Join us for the Kintsugi DeFi Hub live demo on March 23rd at 2 pm CET with Interlay's co-founders Alexei Zamyatin and Dominik Harz.

Learn about the DeFi Hub and get a chance to win a unique Bitcoin inscription from Chaotic Kintsugi!

Sign up now: https://crowdcast.io/c/n90rx1rwbtgd

⏳48-Hour Countdown: Become a Top Referrer⌛️

Hey everyone! Quick reminder that you have LESS than 48 hours left to become a top referrer of the Kintsugi Bitcoin DeFi Hub and win a Bitcoin inscription!

Act now & spread the word to friends, family, and your community. Time is ticking! ⏰🔥

https://www.interlay.io/kintsugi

🚀 The Kintsugi DeFi Hub proposal has PASSED! 🎉

Get ready for a new era in decentralized finance for Bitcoin, launching TOMORROW at 10 AM UTC! ⏰ Join the revolution and experience the power of decentralization!

https://twitter.com/InterlayHQ/status/1638603132962832386?s=20

✨ Kintsugi DeFi Hub Launch Update

We're putting the finishing touches on Kintsugi and making sure everything's perfect for you! Get ready, Bitcoin DeFi incooooooming! 🎉

Join the live demo! 🚀

Hi everyone! Join the Interlay co-founders in 5 minutes to learn more about what you can do on the Kintsugi Bitcoin DeFi Hub!

https://www.crowdcast.io/c/n90rx1rwbtgd

📽Missed the live demo of the Kintsugi Bitcoin DeFi Hub?

No worries! Watch the recording here: https://www.crowdcast.io/c/n90rx1rwbtgd

Vote on Interlay & Kintsugi governance referenda 🗳

Your voice matters! Cast your vote on key referenda to strengthen our ecosystem 🚀

https://twitter.com/InterlayHQ/status/1640358107674025986?s=20

🎉 Access to the Kintsugi Bitcoin DeFi Hub is open to all🎉

Join the Bitcoin DeFi revolution today with the Kintsugi Bitcoin DeFi Hub! With open access available for all, you can now effortlessly borrow, lend, and swap assets and unlock your Bitcoin's full potential in the DeFi space.

https://twitter.com/InterlayHQ/status/1640718149623644161?s=20

We brought a little surprise to Kusama. More incoming

https://vxtwitter.com/alexeiZamyatin/status/1641212280682557441

March Ecosystem Update 🎉

Discover the latest updates from Interlay, including the launch of the Kintsugi Bitcoin DeFi Hub, Chaotic Kintsugi Bitcoin Inscriptions, and more in our March Ecosystem Update.

Don't miss out on learning about the innovative developments shaping the future of Bitcoin and DeFi!

https://interlay.medium.com/march-ecosystem-update-6292d3915cb4

✨ Participate in Interlay Governance🌟

Vote on Referenda #46 and #45 to shape the future of Interlay by supporting iBTC growth on Moonbeam and StellaSwap and ensuring fair capacity for vault operators through runtime upgrades.

https://twitter.com/InterlayHQ/status/1642892208167690244?s=20

🐒 New Bitcoin inscription: the Monkey has arrived 🐒

Your mission, should you choose to accept it:

Dive into the Kintsugi Bitcoin DeFi Hub, explore its cutting-edge features, and participate in our raffle to win a unique, Monkey-inspired Bitcoin inscription!

More here:
https://twitter.com/InterlayHQ/status/1642956135043833868?s=20

📢One day left to win your inscription! 📢

You have until tomorrow to win your Monkey inscription! Try the Bitcoin DeFi Hub and share a screenshot to join the raffle!

https://twitter.com/InterlayHQ/status/1643241821328343040?s=20

🚧 Kusama and Statemine transfers to Kintsugi temporarily halted on the UI 🚧

- Transfers from Kusama and Statemine to Kintsugi (affecting KSM and USDT): deactived on our UI, not working
- Transfers from Kintsugi to Kusama and Statemine (affecting KSM and USDT): active on our UI, working

We have identified an issue currently affecting transfers from the Kusama and Statemine chains. This issue is a result of runtime upgrade 0.9.38 enacted on the Kusama and Statemine chains. It is is causing transfers from (but not to) Kusama and Statemine to fail.

The problem arose as a result of Kusama/Statemine migrating to XCM v3. While XCM v3 is supported on our chain, there was an initial issue when the Kusama channels were initially opened to to a misconfiguration. To fix this misconfiguration a governance proposal is required.

We are working on getting the governance proposal out as soon as possible and will update you here.