Threshold
Polka is the 2th eos, the voice of many users outside. Others' understanding of Polka is limited to a few years ago. Is Polka dead? Where is the apps? This is a common question among users. Users are pragmatic and followers of the Matthew Effect, and our scale is still too small.
if we want to support DEFI platform and bring Polkadot to the outside world, we should support the only competitive and capable teams of this mission, the only team that has that skills i can see is Hydration and Bifrost, they are small but full of inspiration and built relentlessly to ship their market-fit products on Polkadot from the beginning. They are the only 2 parachains that adopted Opengov and fully decentralized, not others shitty platfom that received the incentive from treasury but not transparent about how the incentives is used, we should not give DOTs to them anymore. All my DOTs are in vDOT and i voted AYE!
Good day
Thank you for posting this proposal. I guess this is one of the biggest requests ever in Polkadot OpenGov History = 21,300,000$ (4.26$\DOT). Isn`t it? I have a few questions:
Can you please provide information regarding all loans and liquidity rewards Polkadot Treasury provided to Hydration in the last 18 months?
As a DOT token holder, I would like to understand the expected outcome that the Hydration Team expects in numbers to achieve.
That is not the first liquidity reward that the Hydration Team was granted from the Polkadot Treasury. Can you please share how the previous rewards have been used and how they have impacted the Polkadot?
This is quite an interesting proposal, but since the requested amount is ~ 40% of the Polkadot Treasury, the DOT token holders should understand the goals in numbers (metrics) set for this campaign and how to judge the outcome afterwards.
Thank you in advance.
Best.
Edited
How many times does one have to return to the trough before he's considered a Welfare queen?
a proposal by a team that looks at other projects , a council and influencers not to name any here... but alwasy promoting HDX and critiquing other projects like STELLA, if this be so alos support moonbeam a parachain with high volume , and its prospects... GIGA looks like ponzi that will implode... DEFI in polkadot it is still maturing... there isnt enough volume, or trades for this proposal is just to take advantage of the treasury, totally a NAYE
Rocadro, I came here to post a very similar critique, but you hit on all the concerns I have. I agree completely and for these reasons I have voted Nay.
Hydration is no doubt the most secure, decentralized, and popular DeFi protocol on Polkadot, but if this proposal passes, Polkadot is overly committing to supporting a single DeFi platform. This does not align with the original vision of being the "blockchain of blockchains." It would effectively transform us from a diverse ecosystem into a single-purpose DeFi platform.
The risk of creating a protocol "too big to fail" is real. By concentrating an enormous chunk of our treasury into a single protocol, we're essentially forcing ourselves into a perpetual funding relationship rather than encouraging sustainable models. Even if Hydration executed perfectly (and their track record suggests that they most likely would), we'd be perpetuating an unhealthy ecosystem dynamic.
I would support a reduced funding amount that aligned more with last year's, even though I believe at some point treasury funding should eventually be phased out for all projects, either because they can or cannot sustain themselves. Sustainable growth requires patience and measured support, not massive liquidity injections that inevitably create withdrawal symptoms when they end.
Polkadot's strength is in its parachains' diversity and interoperability, not in becoming just another venue for token speculation through concentrated liquidity mining.
you do make valid points and i would like to address each one based on my POV.
re point 1 (5x increase in ask relative to previous proposal):
by DOT value, it is indeed a 5x increase. but the market is not a DOT-denominated market. DeFi competition happens in USD terms, not DOT terms. LP campaigns try to draw liquidity from people who generally think in $$. so the logic for this high ask was driven more by "what would give help us push the metrics higher (TVL, accounts, etc.)."
it's actually more of a 2x than a 5x because in that time, DOT went from ~$10 and today it's around $4. when we look at competing ecosystems, they're allocating much larger sums in real terms - like Aptos committing $200M to DeFi for 2025 alone, as mentioned in the proposal.
re point 2 (5M DOT represents 21.7% of the available liquidity in the Treasury):
while valid, this point does not take into consideration that the Treasury is not a static account. it is consistently refilled and depleted overtime. taking 21.7% now does not mean the Treasury won't be able to grow back again. proof is already there in history—Treasury was almost insolvent at some point in 2024 and now we are more healthy.
looking at the Treasury as a static account isn't helpful for making the kind of decisions we need to make. Treasury management should be strategic rather than merely conservative - investing in successful projects that generate ecosystem value and activity could ultimately benefit the Treasury more than holding onto DOT.
also worth noting that this proposal isn't just giving DOT to Hydration - it's investing in liquidity that benefits the entire ecosystem, including the Treasury's own diversification needs (which has already accumulated $37M+ in stablecoins using Hydration).
re point 3 (risk of creating a BIG winner):
i genuinely struggle to see how success for any project on Polkadot would be a bad thing. what Polkadot needs right now is for its DeFi ecosystem to reach critical mass to be competitive with other blockchains. we are more in danger of having no success stories than we are of creating "too successful" projects. having no wins will kill the ecosystem more than making a winner.
incentivizing liquidity creates network effects that benefit all projects in the ecosystem, not just Hydration. we've already seen how previous incentives unlocked new integrations to Polkadot as a whole.
this position is very very weird to consider given exactly where Polkadot is right now. for context, the Treasury has supported many protocols so far (Hyperbridge, Bifrost, Stellaswap, and a lot more).
Hydration has come back simply because they were successful in their first foray. the ecosystem agrees. the numbers prove it. in traditional management, you give more to those who have performed really well in the past. it makes little sense to stop the growth or success of a project simply cos we are afraid of what major success will be like.
conclusion
finally, i want to emphasize that these incentives are meant to bootstrap self-sustaining liquidity, not as permanent subsidies. each of the three buckets (stablecoins, LP, GIGADOT) serves a different strategic purpose for the ecosystem, not just for Hydration as a project.
full disclosure: i work with Hydration, which gives me firsthand insight into these matters, though these opinions are my own and not an official Hydration response.
Edited
JAM Implementers DAO votes NAY on this proposal. Reasoning is as follows.
💰 Size and Risk Concerns
The amount requested was considered excessive relative to Hydration’s current size (~$45M TVL).
Treasury would be exposed to high systemic risk, especially due to:
Use of complex yield instruments like GIGADOT
Potential vulnerabilities similar to Acala USD's historical depegging
Liquidity risks from converting DOT into vDOT with unstaking delays
🧾 Sustainability and Governance
Hydration’s growth is seen as inorganic, heavily driven by treasury incentives, not real user adoption.
Critics pointed out that much of Hydration's current TVL comes from previous treasury-funded incentives, not community deposits.
Concerns were raised about Hydration governance potentially overriding OpenGov oversight post-funding, especially excluding DOT holders without HDX tokens.
🪙 Fairness and Precedent
Multiple voters felt Hydration has already received enough support and is beyond common good funding levels.
Some suggested Hydration should reprioritize or reframe the proposal at a lower amount.
There was a strong desire for enterprise-level insurance or collateral to back any large treasury loan.
🧪 Comparative Logic
While Hydration is bringing TVL to Polkadot, it's argued that Asset Hub would be a more suitable recipient for such a large investment.
Comparisons were made to celebrity-led investments, expressing skepticism over hype-driven funding without accountability.
I'm truly impressed by the work Hydration is doing — it's clear the team deeply understands DeFi infrastructure and is building powerful tools to serve the Polkadot ecosystem. The integration of swaps, lending, and a native stablecoin in a unified UX is both ambitious and necessary.
That said, as someone who may not be fully technical but values sustainability, I do believe it's important to consider a path toward long-term protocol self-sufficiency. The Polkadot Treasury has already supported Hydration significantly — and rightfully so, given its contribution to TVL growth and user adoption.
However, for the health of the ecosystem and the Treasury’s own sustainability, it would be great to see future incentive proposals include a clear roadmap toward gradual revenue generation or fee recirculation models, so that Hydration (and similar protocols) can eventually support themselves without continuous external subsidies.
This would strengthen the signal that Polkadot-native DeFi can grow sustainably — not just through grants, but through real, robust economic design. 💧🌀
Much respect for the work done so far — looking forward to what comes next.
Important question: Will any of these 5m DOT (or staking rewards thereof) be used for subsequent voting in opengov or delegated to ChaosDAO? I would like to get a YES/NO answer to this questions from proposer @lolmcshizz .
Suffice to say that I believe if they intend to use these DOT for voting, this proposal should absolutely be NAYed. So I invite the proposer to pledge here in this public forum that these DOT won't also be used for this purpose.
While I generally agree with the sentiment that 5m is a big chunk of the treasury, we also need to accept the reality. Others are spending much more. The mentioned 180m are only what is publicly visible and we don't know what is done behind closed doors.
For long enough the treasury and everything tried to stay neutral. Don't pick any winners. We clearly have seen that this didn't paid out. For people who are working in the ecosystem since 6 years, we can clearly assume that they are here because they want that we all succeed and not just to grift.
Hydration is also at the front when it is about UX improvements etc. There is still work to be done, but they are clearly delivering one, if not the, best experiences in the ecosystem. All that is very important to attract new users, in the best case people that have no idea about crypto. For these people the interface needs to be as easy as possible. They are on the way to achieve this.
I have no idea how the incentives are paid out or how it is calculated how much to pay out per day etc. However, I agree that trying to increase the runway of these incentives would be nice. It would also be nice if Hydration Treasury in return would offer some Hdx to Polkadot. So, Polkadot not only wins with the potential token price increase, but also by getting something in exchange. Someone could even argue to lend these hdx tokens and borrow some stables to pay for future proposals.
All in all, I'm aye.
As someone who deeply respects Hydration's contributions to Polkadot and believes they have built one of the most technically capable and community-responsive teams in the ecosystem, this was not an easy vote.
But I voted NAY on Referendum #1542 not because I doubt the team’s good intentions or the quality of their work, but because the economic model it represents raises larger concerns for Polkadot’s long-term sustainability and direction.
Crypto is slowly waking up from a foundational misdiagnosis: the belief that value would naturally flow upward from generalized “Web3 applications” into the infrastructure layer, and that blockchains would flourish by subsidizing financialized activity across every use case.
Liquidity mining is not a substitute for adoption. It is a subsidy, and like all subsidies, it should be wielded with surgical precision and clear exit strategies not as a default economic engine for an ecosystem. Hydration's previous 1M DOT campaign helped bootstrap initial traction. But a 5M DOT ask nearly a quarter of the Treasury’s free liquidity clearly shifts us from support to dependency.
🏛
Approving this request would set a precedent: that the Treasury’s role is not to catalyze sustainable infrastructure, but to act as a DeFi yield funder of last resort. And because Hydration is the only team with the capability and track record to make this kind of proposal, it also centralizes ecosystem risk. This undermines both Polkadot's heterogeneity thesis and the ethos of decentralized, competitive experimentation.
Even if this proposal “succeeds” by some metrics TVL, trading volume, or XCM transfers we must ask: at what cost, and for how long? What happens when the incentives stop? What signal are we sending to future teams about what success on Polkadot looks like: building products people use, or building grant narratives that drain public funds?
💸 On Money and the Purpose of Crypto
Polkadot doesn’t need to emulate Aptos or Arbitrum’s $200M DeFi subsidy rounds. We were meant to build something better not Web3 as a buzzword for tokenizing everything, but governance and infrastructure for trust-minimized, sovereign digital systems. And money programmable, permissionless, credible money was always at the center of that vision.
Hydration’s GIGADOT is an elegant product, but we must be clear-eyed about what it is: a leveraged yield product funded by public capital, riding on the assumption that more incentives = more usage = more legitimacy. But real money doesn’t need a marketing budget. It earns trust because it serves a purpose. We should not sacrifice 5M DOT trying to simulate that.
✅ What Should We Support Instead
I would support a staged, milestone-based approach — with transparent metrics, a clear sunset date, and ideally a path to protocol revenue or partial repayment. I would support Treasury allocations that create public goods — bridges, SDK improvements, safety tooling, new primitives — not primarily liquidity emissions for financial products with unclear long-term stickiness.
This proposal asks the Treasury to fund growth. But growth without durability is just burn.
🌱 Final Thought
The next chapter of Polkadot must not be about building the loudest application layer. It must be about reconnecting with crypto’s original insight: that we can build digital systems where sovereignty, coordination, and money don’t require intermediaries.
That’s the harder path. But it’s the one worth funding.
I support Hydration in receiving funding, but shouldn’t Hydration also allocate some HDX tokens to the Polkadot treasury in return—say, 200 million HDX? That way, it can truly demonstrate that the success of HDX equals the success of DOT.
The Governance is broken.
As we all know, Open Gov represents one of the most innovative, live, flexible, and compelling tools of governance and the most tech-savvy protocol in crypto right now. No other protocol has even arrived close to Open Gov yet.
But..There is something that is not working.
Polkadot Treasury holds different assets
The ref 1542 ( https://polkadot.subsquare.io/referenda/1542#7 = Treasurer track ) represents one of the biggest treasuries requested in the history of Polkadot => Represents request of 29.4% (or 39.4% without assethub) of DOTs available in the Treasury right now!
5,000,000 DOTs requested or 20,000,000$ as a rewards. That means that rewards will be given without return. Yes. You got it well.
Taking into consideration the strong and mature @Polkadot governance, I was expecting to see strong discussion, concerns, critical questions, sort of negotiation not only from all token holders, but most of all from DVs, who received the DELEGATION from Web3Foundation . I`m not even talking about starting an RFC first..But at the end you will understand why RFC is not necessary here.
But.. I was wrong. Completely wrong. Literally nothing.
The Governance is broken.
Since I posted a question under the referendum and reposted my questions on X, it has been 7 days without any reply. Weird right? Usually, the authors of proposals are trying to get the maximum attention and reply to all questions. But maybe just my questions are not so good? Let us check:
0. Six days the God took to create a Universe. Six days...
Seven days have passed since the proposal was submitted, and seven days have passed since the questions were asked without getting a single (ZERO) answer from the proposal's author. Not a single one received a reply. Not a SINGLE author of questions in SEVEN days received A SINGLE REPLY. None of them.
But there was plenty of time for X yappers, videos and other stuff. Hm..
1. One DVs voted NAY and one DVs voted AYE without even asking ANY of the questions regarding the biggest proposal ever. Just WOW.
2. Two, as twenty million dollars requested or as 200 aDOT token holders who will receive (partially) the rewards! ( https://hydration.subscan.io/custom_token_holders?page=8&page_size=25&unique_id=asset_registry/026fadfabedc8fb74b6541384357664505c7ce45 )
You get it well, less than 200 adot token holders will split the rewards right now (Balance =>1 aDOT).
3. Three. As a 3X% of the DOTs requested. But who are the beneficiaries of these rewards?
vDOT hydration:
GigaDot :
USDC hydration:
USDT hydration:
The numbers are not so juicy. But maybe this is because we are looking from the wrong perspective? The data are available onchain. Take a look. Don't be surprised.
DOT Holders: 1,471,105 should finance 500-1000, and let it be even 5000 users with the clear burning rewards incentive?
The DOTs price is so strong that we can give 3X% of the available DOTs for the liquidity rewards without any clear goals?
4. Four, as four different liquidity rewards requested, without any clear measurable goal, DECLARED that they will be achieved with this proposal.
Literally zero information about ANY numbers, Goals, metrics, or what is aiming to achieve with this proposal. How should this proposal be evaluated after?
How can we understand if this spending was successful or not yet?
5. Five, as 14DN...qbX5 wallet (any thoughts who is the owner) Shadow Gov or Gavin W
(just asking), who pushed the proposal with a single vote with 18.21M DOT into the seven heavens.
Before casting the vote, if something is unclear, you should always ask questions. Try to clarify unclear points, find a trade-off.
0 interaction, 0 reply token holders, 0 reply to DVs, 0 comments on AAG show about the concerns regarding this proposal. It looks like that deal was already approved even before submitting it onchain.
But at the end of the day...if the DVs are not even asking questions (that they should) and if nobody is replying (they should)... The deal was already agreed.
This way of "approving" the proposals is the way into ⛔️⛔️⛔️
Well. The governance is broken.
P.S. I do believe that Hydration is one of the few successful parachains on Polkadot (as I always mentioned this), but that doesn't mean that 20,000,000$ should be given in one go without clear goals and with the kind of "approval" like this.
While the GIGAHydration Campaign aims to boost DeFi with a 5M DOT grant, I vote Nay due to critical concerns:
Treasury Draw: 5M DOT (~21-25% of liquid funds) strains resources for other ecosystem needs.
Sustainability: High-yield incentives may attract temporary liquidity, but without lasting adoption,
users could sell rewarded DOT, increasing sell pressure and depressing prices for the next 12 months.
Hydration Dependency: Over-reliance on one protocol increases systemic risk.
Market Risks: Stablecoin and DeFi growth are uncertain amid regulatory and market
challenges.
A smaller, diversified approach would better serve Polkadot.
PolkaWorld voted NAY in the first round, but would like to raise the following questions for further discussion:
While we acknowledge that Hydration is currently gaining strong momentum within the Polkadot ecosystem, does this necessarily mean that every fast-growing rollup should rely on Treasury funding to drive its user growth?
This brings us to a broader concern: the requested 5 million DOT accounts for around 30% of the Treasury’s current holdings. As a community, we believe it’s important to clarify whether incentive programs are such a top priority for the Polkadot ecosystem at this stage. (From our conversations with other contributors, some feel that initiatives around Polkadot Hub may currently be more urgent.) Additionally, is this the right timing for such incentives, given current market conditions and the fact that Polkadot Hub has yet to launch?
Regarding success metrics, the proposal lists TVL, volume, and supply — but does not outline specific targets. This gives the impression that outcomes are left somewhat to chance. For a Treasury whose role is to safeguard the ecosystem’s long-term sustainability, committing 30% of its DOT to an initiative without clear goals may feel overly casual.
Given the expected increase in trading activity from this program, has there been any consideration of using the resulting fees or revenue to give back to the Treasury?
We’ll continue to follow this proposal closely.
@Rocadro I don't seem to actually be able to reply to your comment directly, so I will have to resort to tagging individual people in this manner.
- Granting 5M DOT to this initiative means multiplying the previous incentive amount by five, and even if successful, it would be difficult to sustain over time.
Unfortunately due to DOT price action, this only represents a 2-3x increase compared with the previous proposal in USD terms (relevant when incentivising stablecoins & BTC). Please also consider that this proposal also covers borrowing & lending and a significant step up in stablecoins incentivisation (a critical focus for the ecosystem at this time)
- 5M DOT represents 21.7% of the available liquidity in the Treasury. Committing this amount to a single project drastically limits our capacity to act effectively as a governing body and reduces our room to maneuver, essentially focusing the economic viability of the broader project on a single parachain.
I think with this number you are looking only at the "Main" pot sitting on the Relay chain - if you view the Treasury as a whole, there are actually 31M DOT right now (https://polkadot.dotreasury.com/#/), which would be ~16% of the current Treasury. That being said, I think this is the wrong way to look at this - the Treasury is constantly refilled via inflation, meaning that these 5M DOT will be replaced in less than 3 months. 5M DOT is ~4% of annual inflation - it's my opinion that we should be spending much more than 4% on economic stimulus... but that's a conversation for another time!
- Even if the incentive program were a complete success, the long-term consequences could be counterproductive—both for us as a DAO ecosystem and government, and ultimately for Hydration itself.
It's not possible to know what the long term impact of this campaign would be - however, I think as others have said in comments, there are plenty of arguments for why we should do this now. If it is deemed in the future that incentives should not be discontinued, then that's a decision for the future.
@xcRom1.dot Also not able to reply to you directly.
Hydration has delivered, no question there. But asking for 5M DOT all at once, with no conditions or milestones, really feels like giving a blank check.
We're talking about 20–40% of the available Treasury funds going to a single project, in one shot. If it underperforms or doesn’t meet expectations, that’s a huge chunk of capital gone with no way to reallocate.
I'd feel way more comfortable with a staged approach, tied to clear KPIs like TVL, user growth, volume, or XCM activity. It’s not about doubting the team — it’s about reducing systemic risk and showing responsible governance.
As explained above, 5M DOT is ~16% of the current Treasury and will be replenished within 3 months from existing inflation. It also represents only 4% of total inflation, and imo we should be spending much much more on economic stimulation if we want to really compete with others.
In order to address concerns regarding Hydration taking 5M DOT in one go without any means of reallocation - I have added an edit today (12th May) that we will add the funds to a pure proxy with "any" proxy privileges shared between Hydration Treasury and Polkadot root. So Opengov can legitimately pull back these assets should circumstances change in the future.
Hi @Mogun
Before I'm casting my vote, I'd like to know how much liquidity incentives Hydration has already received in total from the Treasury, W3F, and other community-related funding source. Could you provide an overview? Ideally, that overview would include an indication of how much TVL has grown through these incentives, in order to get a better picture of what we can expect from the payout of these 5M DOT.
You can find this information in the proposal document - but TLDR:
I am currently preparing a table showing example target TVL & target APRs based on current asset offerings
@Trustless
I'll address this.Proposals without controversy are not the focus of our Polkadot ecosystem.In fact,they may even be detrimental to achieving the goals of the proposals,so thank you for the comment.
This is a comment filled with empty talk.How can DOT attract a large number of users,especially those outside the ecosystem?It can't!Just look at the price.Of course,inflation and the lack of large-scale DeFi applications are key reasons.
So,your long-winded arguments are full of clichés and superficial finger-pointing.The strength of our ecosystem lies in technological advancement.The weakness is in the scale of applications,especially DeFi applications.
If you truly want to contribute to the prosperity of the ecosystem and enrich the treasury,as a DV,you should focus on how to make the ecosystem's DeFi strong enough.That will attract resources from both inside and outside the ecosystem and concentrate the forces of the entire ecosystem.This is the greatest return for the ecosystem and DOT.
This is the perspective that truly helps the ecosystem.Please readjust your perspective.Your current viewpoint is too superficial.If the entire community were at this level,it would be fatal.Fortunately,that's not the case.
This also applies to the responses to other opposition.A group of people who have never built successful applications(or even used the ecosystem's applications in depth,except for governance).
Once again,the strength of applications is the only way out for Polkadot.Strong DeFi applications are the key to strong applications.
@Trustless_Core Hydration is the only DeFi protocol on Polkadot with real traction. 5M DOT is just 4% of annual inflation. The previous campaign delivered a 5x increase in TV. Supporting Hydration demonstrates that Polkadot can scale successful products and sends a strong signal to external users and developers. Builders need to see that delivering value here gets rewarded. Creating success stories like this gives long-term holders confidence that Polkadot can thrive and DeFi must be part of that. This proposal drives DOT demand, reduces sell pressure, and strengthens the only infrastructure that’s working. No better use exists. Vote AYE.
Also, Hollar is a stablecoin, suggesting that Hydration should distribute its supply to the Polkadot Treasury misunderstands how stablecoins function. Hollar’s value is 1:1 backed by collateral; its supply isn’t something that can be handed out like equity without breaking its economic integrity. This suggestion reflects a fundamental misunderstanding of Hydration’s design and goals. Given the scale of your NAY vote, please could you take some more time fully understand Hydration and its impact before passing judgment.
As of today, Hydration and Bifrost are integral parts of Polkadot's Defi infrastructure. I think the best option for all parties is for Hydration to offer 15% of the HDX supply (bifrost too) to the Polkadot Treasury ($13 million) so that the Polkadot protocol can have a say in whatever direction Hydration takes and Hydration can easily ask for more incentives in the future (if needed) with less friction. This is a win-win solution.
In the future i think the Polkadot Treasury have to DCA more DOT to HDX and BNC to gain a bigger part in governance in these 2 protocol.
Para que todos ganen Hydration debería en compensación transferir tokens HDX a la tesorería de Polkadot por dos razones simples y concretas que por ahora no veo que hayan respondido.
Why is the call a spendLocal
to the sovereign account of Hydration? Since you're doing all on-chain actions with the DOT, can't you just cross-chain transfer them to Hydration and call the specific pallets?
I think there's a misunderstanding regarding the proposals.
What is being requested is not a loan, nor is it a gift for the development of Hydration.
It's an incentive campaign that will be given to users who participate and provide liquidity to the Polkadot ecosystem.
This is beneficial for the entire ecosystem, including other parachains. As could be seen in the previous campaign, almost all assets from various parachains were incentivized, increasing their liquidity and native use, increasing users, statistics, and transactions.
If it weren't for Hydration, which with its POL (Protocol Owned Liquidity) makes OTC offers to obtain native USDT/C as soon as they were launched and makes it tradable, then adoption would have been very slow. These incentives were then used to boost liquidity and its use. This can be considered successful since there are 18 million USDT/C native liquidity, allowing the Treasury to acquire at least 5 million USDT/C through trustless DCA.
I simply don't understand how you(in general) don't see that the benefit of this is more liquidity, more volume, more Txs, more XCM Txs, more users, and that it benefits the entire ecosystem in general, since DOT is the ecosystem's main asset.
Even the Treasury benefits from more liquidity with its own DCA.
Para los que dicen que Polkadot esta muerto pueden irse a otro ecosistema inútil, ineficiente y que no sirven para nada mas que para regar todo el mercado de monedas memes, como lo son Solana, Sui, ada, etc. Absolutamente nadie los detiene. No se que hacen acá. NADIE LOS QUIERE. Polkadot no es solo DEFI, de hecho USDC y USDT les va a traer mas problemas que soluciones. Ojala esta locura no siga adelante. Si se aprueba o no esta propuesta de estafa que sepan que Polkadot seguirá adelante
Dear Proposer,
Thank you for your proposal. Our first vote on this proposal is NAY.
The Treasurer track requires 60% quorum according to our voting policy v0.2, and any referendum in which the majority of members vote abstain receives an abstain vote. This proposal has received one aye and nine nay votes from ten available members. Below is a summary of our members' comments:
The referendum on funding for a project drew mixed responses from voters. Many expressed skepticism about the large funding request, emphasizing concerns over the treasury's current state and the lack of a repayment plan or clear return on investment metrics. Some voters highlighted the need for a more cautious approach, suggesting that any support should involve shared risk or a token swap to ensure accountability. Others acknowledged the project's past contributions but insisted on the necessity of additional data and community engagement before making a decision. Overall, the sentiment leaned towards caution and the need for clearer justification for such a significant financial commitment.
The full discussion can be found in our internal voting.
Please feel free to contact us through the links below for further discussion.
Kind regards,
Permanence DAO
Decentralized Voices Cohort IV Delegate
📅 Book Office Hours
💬 Public Telegram
🌐️ Web
🐦 Twitter
🗳️ Delegate
Unfortunately, I see a lot of misconceptions from DVs that make me think there's still a lack of understanding around DeFi. vDOT is too risky? Allocate HOLLAR supply to the treasury? One of the most loyal and advancing rollups might benefit a little too much?
Hydration and these incentives are our best shot at drawing real attention from outside ecosystems to Polkadot. This isn't about handing money to Hydration — it's about incentivizing users to bring their capital into the Polkadot ecosystem and exposing them to our strongest apps, wallets, security and the UX improvements we've made in recent years. Hydration is the tool. The best tool we have.
Polkadot should be taken seriously — by other protocols and by centralized players. We’re imo overspending on security, spending a lot on tech and questionable marketing efforts. I love Polkadot for the tech. Let's show the world what’s already here.
Que sepan todos esos usuarios tóxicos de la comunidad que intentan manipular a los que estamos en contra de esta locura que Polkadot no necesita de Hydration, es exactamente al revés. Así que más respeto cuando vienen a pedir dinero de regalo.
Siguen sin responder porque no se retribuye al tesoro del Polkadot con hdx tokens por este regalo para poder tener injerencia sobre la dirección que tomara hdx en el futuro.
Truth DAO votes NAY.
There’s a general concern about the large funding amount and the difficulty in measuring the actual conversion of new users. A key question remains: how can we ensure that people outside the ecosystem are reached, rather than these funds ending up in the pockets of existing large holders?
Additionally, we believe Hydration should consider directly allocating a portion of HDX tokens back to the Treasury as a form of value return.
Check out all the comments here.
📖Truth DAO Governance Statement
🗳️ Delegate
Edited
After much thought, my vote is NAY
Why NAY?
First, I want to clarify that I really like Hydration and think it's a top-tier project.
However, my reasons for voting NAY are primarily:
🔹 The financial risk of committing such a large portion of the treasury to a single project.
🔹 The decision to involve the new stablecoin HOLLAR to incentivize stablecoins. I don't see the rationale for creating a new stablecoin in the ecosystem, considering the history. No stablecoin has truly worked, and some launched by top projects were a complete disaster for users and the ecosystem.
Conclusion
"Personally, I think stablecoin strategies should focus on the greatest possible security, eliminating as many risk factors as possible
Ultimately, involving the new stablecoin HOLLAR with 20% of the Polkadot treasury strikes me as extremely reckless due to:
🔹 Why a new stablecoin when we already have native USDT and USDC in the ecosystem?
🔹 Why a new stablecoin given the previous negative experiences within the ecosystem?
🔹 HOLLAR might be an excellent product, but it should first demonstrate its viability without incentives. What will happen when the incentives end? What guarantees do we have of not reissuing a Depeg?
Good day.
Since my questions weren`t answered after more than 19 days, I would like to ask simpler questions (in the hope of a reply)
@lolmcshizz
Cualquier usuario que valore el ecosistema de Polkadot y sienta un verdadero sentido de pertenencia debe rechazar esta propuesta y convocar con firmeza a que todos los holders posibles ejerzan su derecho al voto.
Mis razones:
1) El monto solicitado es excesivo e injustificado: 5.000.000 de DOTs sin ninguna contraprestación clara. Para ponerlo en perspectiva, este valor representa aproximadamente la mitad del presupuesto total de desarrollo de JAM. Lo más preocupante es que esta propuesta está avanzando con apenas 10.000.000 DOTs en votación positiva.
2) Los incentivos deben aplicarse con criterio, y en este caso están mal dirigidos. Solo deberían incentivarse pools como DOT o GIGADOT si existiera una necesidad concreta. Es fundamental que la comunidad comprenda cómo funcionan los incentivos en los pools: cuando se incentiva un pool específico, se estimula la compra del token que lo compone. En este caso, se terminará incentivando la compra de tokens ajenos al ecosistema, como AAVE, SOL, BTC, SKY, LDO y ETH. En consecuencia, se incentiva la venta de DOTs para comprar esos otros tokens. Lo mismo ocurre con los pools de monedas estables: se venden DOTs para comprar stablecoins. Esta política empuja a HDX a alejarse del ecosistema de Polkadot, y estamos financiando esa salida. Es una decisión completamente equivocada.
3) Esta propuesta muestra señales claras de colusión. Es la propuesta más costosa en la historia de OpenGov y, sin embargo, está por aprobarse sin un debate público profundo. No se han respondido las preguntas clave ni se ha justificado adecuadamente el voto positivo. Los votantes simplemente apoyan en silencio. Esto indica un acuerdo previo para imponer la propuesta sin transparencia. Quienes concentran los votos están imponiendo su voluntad sin rendir cuentas. Eso es un claro ejemplo de monopolio del voto. Esta actitud perjudica al ecosistema y representa un uso irresponsable de los fondos del tesoro.
Edited
14DN...qbX5, ChaosDAO OpenGov, The Kus DOT Delegate, HiroProtagonist, 136G...hW8M, SubWallet/HD
Their silence is deafening! Clearly, they don't want to be tied to any opinion.
Oh my word, what is this? A proposal to use Polkadot’s treasury that will actually attract users?
I must be dreaming, is it finally 2035