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The original author is a member of the Polkadot Council——Raul Romanutti
Polkadot has attracted a lot of attention since the phased launch of the main network in May this year, and the ecosystem has been in a state of vigorous development: since the development of Polkadot in 2016, the Polkadot network protocol is Dr. Gavin Wood's implementation of decentralized management. An important step in the vision. Polkadot-based teams can now submit applications for funding from the Polkadot Treasury, a project that complements the Web3 Foundation Grants program to expand community capacity.
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What is a treasury?
The Ministry of Finance is a pool of funds formed by charging transaction fees, aiming to improve the efficiency of each link. One way to manage these funds is by submitting spend proposals, which can be initiated by any holder of Polkadot’s native token, DOT. If approved by the council, which in this sense is responsible for overseeing and managing these funds, community members can receive funds for development or to attract traffic after a short waiting period.
The bounty can also be used to motivate community members to work in different areas: Currently, treasury bounties are used to reward effective work, such as translating documents, writing Polkadot-related articles and various posts, supporting the Polkadot Telegram community, and making educational videos etc. Such incentives can be proposed by anyone with the support of Council members. There is no fixed amount for the award: the final amount depends on the median of all endorsements submitted by at least eight council members.
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The first batch of teams in history to receive proposals on the chain
Proposals can include (but are not limited to) infrastructure deployment and ongoing operations, network security operations, ecosystem provision (collaboration with FriendsChains), marketing activities (advertising, paid features, collaboration), community events and promotion, and software development (wallet and wallet integration, clients and client upgrades).
The first proposals submitted for council review fall into the following categories: infrastructure deployments, ongoing operations projects, and software development proposals. Give the treasury a close look at the team that made history by submitting an initial proposal to the Polkadot treasury.
Redspot:
https://polkadot.polkassembly.io/post/15
Patract Labs：
https://polkadot.polkassembly.io/motion/7
Redspot, a development environment, testing framework, and asset channel for palletizing contracts, named after the "big red spot" on Jupiter. The project aims to simplify testing and interacting with on-chain smart contracts. On the Polkadot network, there may be multiple parachains handling the deployment of smart contracts. Patract Labs, the team behind Redspot, provides solutions for Polkadot's quasi-chain smart contract ecosystem. They support smart contract parallel chains in Polkadot's public blockchain network and smart contract consortium blockchains based on Polkadot technology. The team's first set of recommendations, including this one, focused on simplifying the development, debugging, testing, and deployment of smart contracts.
Centrifuge and Substrate RPC Client: This project was originally funded through the Web3 Foundation grant program in 2019, and it provides APIs and types for RPC calls around Polkadot and any Substrate-based chain. Since its inception, it has received a lot of attention and usage from other projects in the Polkadot ecosystem. Substrate's rapid development requires regular upgrades of GSRPC: the proposal aims to use treasury funds to maintain the client for the next 6 months.
https://polkadot.polkassembly.io/motion/12
GSRPC：https://github.com/centrifuge/go-substrate-rpc-client/
To learn more, check out the latest link on Polkasembly.
Polkascan：https://github.com/polkascan/social-contract/blob/master/polkadot/social-contract-002.md
Polkascan and its underlying infrastructure deployment projects: The Polkascan Foundation has been present in the broader Polkadot ecosystem from the beginning and has been an advocate for the use of on-chain treasuries as a sustainable source of funding for ecosystem infrastructure components. In this specific proposal, Polkascan aims to fund the maintenance of their Python Substrate interface library, with a focus on interfacing with Substrate nodes, providing additional convenience methods to handle scale encoding/decoding, metadata parsing, type registry management, and typing version control.
Encointer, the relentless pursuit of self-sovereign identity: Encointer is a platform for self-sovereign identity and native community currency with a self-issued universal basic income. The basic element behind it is a unique personality proof protocol that takes advantage of the fact that a person can only be in one place at a time. The team aims to bring self-sovereign identity to Polkadot by utilizing key signers who are physically simultaneously pseudonymous. The team prototyped two live testnets, Gesell and Cantillon, and submitted a proposal to the Polkadot Treasury to integrate them as parachains and demonstrate SSI certification through HRMP. We look forward to seeing the initial results!
Tips on the future development of the Polkadot treasury:
As custodians of the Treasury, the council tries to fund as many queued proposals as possible without running out of money. If the treasury does not spend all of the funds within the budget period, a portion of the funds will be burned: Polkadot currently burns 1%. In practical terms, this means that a portion of funds are withdrawn from circulation every 24 days if not necessary.
Are you ready to submit a proposal to the Treasury and participate in discussions? Learn more about the mechanics of inventory spending and how to submit proposals on our wiki. There are many ways to get involved in the Polkadot community. Join the discussion about Telegram and Element. Learn more about Polkadot on our website and the Polkadot Wiki.
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Compilation: Stealthy Yao
original:https://polkadot.network/
