Threshold
Dear Proposer,
Thank you for your proposal. Our first vote on this proposal is AYE.
The Small Spender track requires 50% participation and simple majority of non-abstain votes 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 six aye and zero nay votes from ten available members. Below is a summary of our members' comments:
Voters approved the measure to instruct the PCF to sign a strategic cooperation agreement with Hong Kong’s OASES. They believed the proposal would allow Polkadot to establish a local subsidiary, enhancing regional engagement, attracting investments, and providing valuable opportunities for teams interested in the area. They noted that local representation could increase the PCF’s impact and that Hong Kong’s influential market made it an ideal growth hub. The voters accepted the proposal as a well-priced and promising initiative, expressing hope for meaningful returns and further expansion of Polkadot’s presence in a key Asian market.
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
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🗳️ Delegate
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JAM DAO voted NAY on this Proposal
While the proposal presented a compelling case for establishing a strategic presence in Hong Kong and fostering partnerships that could benefit Polkadot projects seeking regional expansion, the DAO was ultimately not aligned in support. The initiative generated much interest from members, particularly around its potential upside and relatively modest surface-level cost. However, several concerns outweighed this optimism:
A primary concern was the budget structure, particularly the allocation toward legal fees. The proposal included a fee range of $500–$1400 per hour with no clear cap or accountability mechanism. This was seen as introducing significant risk to treasury funds, especially given the lack of fixed-price estimates for what are considered standard services like corporate formation.
In addition, the absence of upper limits on billable hours was a critical issue. Members stressed that even promising initiatives must be accompanied by rigorous budget discipline and safeguards to ensure effective and responsible use of public funds.
While the proposal suggested potential benefits from partnerships, it lacked concrete examples or results from similar past efforts. Without clear precedent or projected deliverables, it was difficult to justify the investment from a value-for-cost standpoint.
We appreciate the strategic direction proposed, but we could not support the current structure. We would be more inclined to revisit such an initiative if it incorporated stronger cost controls and a clear precedent that gives a cue to the potential impact this partnership could bring to Polkadot.
TruthDAO voted AYE
Hong Kong’s strategic position and OASES resources present significant growth opportunities for the Polkadot ecosystem, making a low-cost investment reasonable. The Hong Kong government’s clear support for stablecoins and RWAs should be actively leveraged through organizations like Polkadot East as an entry point for industries to join the Polkadot ecosystem.
See more feedback here.
📖Truth DAO Governance Statement
💭 Email: open@truthdao.cn, Telegram
🗳️ Delegate
Thank you for your thoughtful feedback on Referendum 1681. We appreciate your engagement and the opportunity to address your concerns regarding the proposed PolkaPort East (PPE) and its strategic cooperation with the Office for Attracting Strategic Enterprises (OASES) in Hong Kong.
On Tangible Value and Measurable Outcomes
We understand the need for clarity on how the proposed benefits—such as regulatory advantages, financial incentives, and proximity to major enterprises—will translate into value for the Polkadot ecosystem. The establishment of a PCF subsidiary in Hong Kong, in collaboration with OASES, is designed to deliver measurable outcomes, including increased enterprise partnerships (e.g., with OASES’s 84 strategic enterprises like JD and Huawei), enhanced developer onboarding through Cyberport’s incubation programs, and growth in Polkadot-based projects relocating to Hong Kong.
On Bureaucratic Complexity and Governance
We recognize concerns about the potential bureaucratic and legal complexities of establishing a subsidiary and engaging with OASES. To address this, the PCF will maintain full ownership and decision-making authority over the Hong Kong subsidiary, with PPE’s role limited to operational support under strict oversight. A clear governance framework will be implemented, including regular public reporting to Polkadot OpenGov and contractual safeguards to ensure alignment with ecosystem priorities. PPE’s day-to-day management will be guided by predefined agreements, minimizing the risk of over-dependence and ensuring the subsidiary operates in lockstep with Polkadot’s broader goals.
On Cost Transparency and Sustainability
We appreciate the concern about the separation of operational and legal costs potentially obscuring the initiative’s full scope. The requested budget of $35,700 is exclusively for legal, administrative, and compliance costs related to the subsidiary’s setup, as outlined by the PCF. PPE will handle operational expenses independently, ensuring no additional treasury funds are required for day-to-day activities. To enhance transparency, the PCF commits to providing a detailed financial breakdown post-setup, with any unused funds returned to the treasury. This approach ensures fiscal responsibility while leveraging PPE’s existing resources for sustainability.
On Execution and Coordination
We acknowledge the need for a robust execution plan to ensure ecosystem-wide coordination. PPE’s established track record, supported by the Web3 Foundation’s Decentralized Futures grant, demonstrates its capability to execute growth initiatives effectively, as seen in its community meetups and investor events. The PCF and PPE will work closely with Polkadot-based projects, parachains, and regional stakeholders to facilitate seamless collaboration.
We value your insights and believe this proposal, with its focus on leveraging Hong Kong’s Web3-friendly environment and OASES’s resources, will significantly enhance Polkadot’s global presence. We welcome further community feedback to ensure this initiative delivers maximum value to the ecosystem.
PolkaWorld votes AYE
We support this proposal as it opens a strategically important gateway for Polkadot. By establishing a PCF subsidiary in Hong Kong and partnering with OASES, Polkadot can not only gain access to government policies, subsidies, and resources, but also create a true legal and operational foothold in Asia.
This represents a low-cost, low-risk, yet high-return investment that will help attract more projects, partners, and institutions into the Polkadot ecosystem — ultimately driving its expansion on a global scale.
Read the full feedback here.