The Fellowship Salary account, originally funded in USDT through Referendum 231, will be depleted by the end of Q3 2026. Two short-term DCA operations from the Fellowship's own sub-treasury (refs 526 and 566) cover salaries through September. This proposal requests 4,800,000 DOT from the Treasury to be converted into HOLLAR over 12 months, covering salaries from October 2026 onwards.

The projected 12-month salary need is $3,525,000, derived from Fellowship membership projections by rank over the funded period, including the incoming JAM Prize and PBA cohorts. Should actual expenditure fall below projection, or DOT trade above the reference price during the DCA period, the resulting surplus remains in the Fellowship Salary account and extends the funded runway beyond 12 months.

The referendum executes the entire operation in a single call: transfer, DCA scheduling and periodic returns to the Salary account. The Fellowship and OpenGov retain the ability to pause or cancel the schedule through its own governance if conditions change materially.

Full proposal (budget breakdown, DCA parameters, safeguards) can be found here.