What is the DOT/KSM treasury?
Polkadot/Kusama Treasury is a DOT/KSM treasury on the chain. 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 the funds through three methods of spending proposals, tips, and bounty tasks , and in each spending cycle (24 days for Polkadot and 6 days for Kusama) At the end, a certain percentage (Pokadot is now 1% and Kusama is 0.2%) of the remaining funds will be destroyed .
Differences in capital expenditure methods:
- Proposal expenditures are generally for larger projects, such as software development and offline activities. 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;
- The bounty task is specified by the proposer, and a special manager will follow up.
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. The pictures are summarized and produced by doTreasury (www.dotreasury.com/) and OpenSquare.
In terms of expenditure , in the first half of 2021, Polkadot Treasury spent a total of 33,290 DOT . Among the 120 tips submitted, 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; Among the 2 submitted bounty tasks, 1 has been passed and is in progress, and 1 has not been approved. The Polkadot Treasury destroyed a total of 943,000 DOTs in the past six months . According to the 30-day average price, it destroyed 17 million U.S. dollars.
In terms of income , in the first half of 2021, 6.346 million DOT came from the inefficient staking surplus, and 15,900 DOT came from Slash fines. Therefore, 99% of the current income comes from the inefficient residual inflation of staking, 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 again!
In terms of expenditure , in the first half of 2021, the Kusama Treasury spent a total of 18,978 DOT . Of the 123 submitted tips, 90 have been approved and sent; out of 33 submitted proposals, 29 have been sent or approved; among the 5 submitted bounty tasks, 3 have been submitted Already issued or in progress. The Kusama Treasury destroyed 18,000 KSM in the past six months .
In terms of revenue , in the first half of 2021, 129,000 KSMs came from staking inefficient surplus, and 14 KSMs came from Slash fines.
New treasury proposals in the past six months
We are very happy to see that new builders are constantly emerging from Polkadot.
Take the type of proposal as an example. In the Polkadot Treasury, 12 new addresses received funding for spending proposals in the first half of the year . In the Kusama Treasury, 13 new addresses received funding from the spending proposal in the first half of the year .
The latest proposal by Polkadot Treasury, screenshot from https://www.dotreasury.com/dot/proposals
The newly added treasury proposals mainly include the following categories:
- Infrastructure/development tools: such as Dapp API jointly developed by SubQuery and Fearless Wallet, MIDLDEV OÜ’s Polkashots.io database snapshot, Daniel’s Extrinsic submission library Sube, ZKValidator’s zero-knowledge proof adoption, etc.
- Community/education: such as PolkaWorld, the Chinese community of 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 plan launched by Encoded Club, etc.
- Governance: such as treasury browser doTreasury developed by OpenSquare, Polkassembly governance discussion platform developed by premiurly, etc.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/polkadot-kusama-treasury-report-for-the-first-half-of-2021/
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