Home Polkadot Polkadot/Kusama: Treasury Report 2021

Polkadot/Kusama: Treasury Report 2021

On the chain, Polkadot/Kusama Treasury is a DOT/KSM treasury.

First Half of 2021 Polkadot/Kusama Treasury Report Available iBase Trading.
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Polkadot/Kusama Treasury is a DOT/KSM treasury on the chain. Its mission is to provide financial assistance to the Polkadot/Kusama ecology to help it grow. Anyone can apply to spend Treasury monies as long as the Polkadot/Kusama Council approves it.

The Treasury raises DOT/KSM funds through inflation, transaction fees, Slash, and other means, and spends them through three methods: spending proposals, tips, and bounty tasks, and at the end of each spending cycle (24 days for Polkadot and six days for Kusama), a certain percentage (Polkadot is now 1% and Kusama is 0.2%) of the remaining funds destroys.

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Methods of capital spending are different in the following ways:

  • Proposal expenditures typically cover more significant initiatives, such as software development and offline operations. The sum is substantial, the application and approval process is lengthy, and a deposit is necessary.
  • Minor translation, design, and internet activity typically receive tips. The application procedure is straightforward, and the amount requested is usually modest.
  • The proposer specifies the bounty task, a particular manager follows up.

Revenue and Expenditure of the Treasury in the First Half of 2021

The following figures in this article are based on DOT/KSM treasury data from January 1 to June 30, 2021.

In terms of spending, the Polkadot Treasury spent a total of 33,290 DOT in the first half of 2021. Among the 120 tips submitted, 78 recommendations have authorization. Among the 28 submitted proposals, 26 have been published or have approval, one has not been approved, and one has not yet been voted. Furthermore, one of the two bounty jobs submitted has authorization and is in process, while the other has not.

In terms of spending, the Kusama Treasury spent a total of 18,978 DOT in the first half of 2021. 90 of the 123 tips provided were authorized and forwarded. Next, 29 of the 33 ideas submitted have approval. Lastly, three of the five bounty tasks submitted were already granted or in progress. In the last six months, the Kusama Treasury has destroyed 18,000 KSM.

For issues in revenue, 129,000 KSMs came from staking an inefficient surplus in the first half of 2021, while 14 KSMs came through Slash fines.

In the last six months, there have been several new Treasury suggestions.

It’s encouraging to see fresh builders emerge from Polkadot regularly.

As an example, consider the type of proposition. In the first half of the year, 12 new addresses obtained financing for expenditure plans from the Polkadot Treasury. In the first half of the year, 13 recent locations in the Kusama Treasury got funds from the expenditure request.

The following are the added main categories of treasury proposals:

Infrastructure/development tools include SubQuery and Fearless Wallet’s Dapp API, MIDLDEV OÜ’s Polkashots.io database snapshot, Daniel’s Extrinsic submission library Sube, ZKValidator’s adoption of zero-knowledge proofs, and others.

PolkaWorld, PolkaWorld’s Chinese community, HyperCube’s Kusama series of popular scientific movies, Figment’s developer education platform Figment Learn & DataHub, and Encoded Club’s university partnership strategy among others.

Governance: Examples include OpenSquare’s doTreasury treasury browser, Polkassembly’s governance discussion platform, etc.

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Abby Hernandez is an independent crypto writer for iBaseTrading. She is passionate about NFT, decentralization and anything related to blockchain technology. She has worked in the financial sector for 7 years and loves yoga and dancing.