Polkadot/Kusama treasury report for the first half of 2021
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As a member of the Kusama Council, the PolkaWorld treasury series of reports aims to help the Polkadot community understand the use of treasury funds and help ecological projects better receive support from the treasury. Welcome to check it out!
What is DOT/KSM treasury?
The Polkadot/Kusama treasury is the DOT/KSM treasury on the chain, and its goal is to help the growth of Polkadot/Kusama ecology through financial support. Anyone can apply to spend treasury funds, as long as it is approved by the Polkadot/Kusama Council.
The treasury raises DOT/KSM funds through inflation, transaction fees, Slash, etc., and spends funds in three ways: spending proposals, tips, and bounty tasks, and in each spending cycle (24 days for Polkadot, 6 days for Kusama) At the end, a certain percentage (1% for Polkadot and 0.2% for Kusama) of the remaining funds will be destroyed.
Different ways of disbursement:
Proposal expenses are generally for larger projects, such as software development and offline activities, etc., the amount is relatively large, the application and approval process is more complicated, and a certain deposit is required;
Tips are generally for relatively light contributions, such as translation, design, online activities, etc. The application process is simple and the amount is generally small;
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Overview of Treasury Revenue and Expenditure in the First Half of 2021
The data mentioned in this article is based on the DOT/KSM treasury data from January 1, 2021 to June 30, 2021, and the pictures are summarized by doTreasury (www.dotreasury.com/) and OpenSquare.
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Blockchain-based collaboration and credit, capacity building platform
Polkadot treasury
In terms of expenditure, in the first half of 2021, Polkadot treasury spent a total of 33,290 DOT. Among the 120 submitted tips, 78 tips have been approved and issued; among the 28 submitted proposals, 26 have been issued or approved, 1 has not been approved, and 1 has not yet been voted on; Of the 2 submitted bounties, 1 was approved and in progress, and 1 was not approved. Polkadot treasury has destroyed a total of 943,000 DOTs in the past six months, and according to the 30-day average price, it has destroyed 17 million U.S. dollars in contract.
In terms of income, in the first half of 2021, 6.346 million DOTs came from the inefficient remainder of Staking, and 15,900 DOTs came from Slash fines. So currently 99% of income comes from staking inefficient residual inflation, but if the staking rate remains at the optimal ratio of 50% for a long time, there will be no residual inflation entering the treasury!
Kusama Treasury
In terms of spending, in the first half of 2021, the Kusama treasury spent a total of 18,978 DOT. Of 123 submitted tips, 90 were approved and sent; of 33 submitted proposals, 29 were sent or approved; of 5 submitted bounties, 3 Already issued or in progress. The Kusama treasury destroyed a total of 18,000 KSM during the six months.
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New treasury proposals in the past six months
We are very pleased to see that new builders are constantly emerging in the Polkadot ecosystem.
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Polkadot treasury latest proposal, screenshot from https://www.dotreasury.com/dot/proposals
The newly added treasury proposals mainly include the following categories:
Infrastructure/development tools: such as the Dapp API jointly developed by SubQuery and Fearless Wallet, the Polkashots.io database snapshot of MIDLDEV OÜ, Daniel’s Extrinsic submission library Sube, the adoption of ZKValidator’s zero-knowledge proof, etc.
Community/Education: such as PolkaWorld operated by PolkaWorld, the Kusama series of popular science videos produced by HyperCube, the developer education platform Figment Learn & DataHub developed by Figment, the university cooperation program launched by Encoded Club, etc.
Governance: such as treasury browser doTreasury developed by OpenSquare, Polkassembly governance discussion platform developed by premiurly, etc.
Polkadot:
https://www.dotreasury.com/dot/proposals
Kusama：
https://www.dotreasury.com/ksm/proposals
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How to apply for funds from the Polkadot treasury?
If you are doing something beneficial to Polkadot’s ecology and want to apply for treasury funds, please refer to this article to understand the complete application process:How to improve the success rate of applying for DOT from the Polkadot treasury?
Or check out this introductory video on Polkadot Decoded by Raul, Kusama/Polkadot council member and Parity Technologies:
PolkaWorld is the first member of the Polkadot Council and is currently a member of the Kusama Council. welcome everybodyVote for PolkaWorld's Council Election, help us keep our council seats and make more contributions to the Chinese community! If you have any questions about the treasury application, please leave a message to consult us.
Original link: https://mp.weixin.qq.com/s/Nep4MAJjWY0HdAaN6g0oow
