This referendum requests $110,000 USDT (Asset Hub USDt) as one-time retroactive development funding for plaza.fun: a live app on Polkadot Hub proving that native assets + EVM execution can produce real user activity. This is a live mainnet product, not a concept, pitch deck, or testnet-only demo. plaza.fun lets users create pallet_assets tokens, trade them through bonding curves, and graduate successful tokens into PlazaSwap liquidity with 90% LP permanently burned and creator fee rights represented by FeeKeyNFTs.
This referendum is not asking the Treasury to fund a concept, pitch deck, or testnet-only demo; it requests retroactive development funding for shipped infrastructure that users can already access and verify.
Specifically, this proposal covers delivered native asset activation infrastructure: native asset creation, bonding curve launches, the PlazaSwap graduation path, indexer, frontend, documentation, and upstream contributions to the Polkadot Hub EVM ecosystem.
plaza.fun is a native asset activation layer on Polkadot Hub: a production application that turns Hub's native asset infrastructure into a usable consumer workflow.
Users can:
pallet_assets token through a web UIPolkadot Hub already has the core ingredients for an application-centric future: native assets, EVM execution, stablecoins, shared security, and low fees. plaza.fun activates those primitives in a real application. Every token created through plaza.fun is a Hub native asset. Every trade settles on Hub. Every graduation creates Hub-side liquidity.
This proposal requests one-time retroactive funding for completed development work from January to April 2026. It does not include future milestones, forward funding, marketing spend, liquidity incentives, or operating runway.
| Field | Value |
|---|---|
| Track | Medium Spender |
| Request | $110,000 USDT (Asset Hub USDt) |
| Payment type | One-time retroactive payment |
| Period covered | January - April 2026 |
| Beneficiary | The beneficiary account specified in the on-chain call |
| Named accountable party | Elvis (@elvis_build, Subsquare identity) |
| Future milestones | None |
| Forward funding | None |
Hub is not just another EVM chain. Its strongest differentiator is that assets can be runtime-level pallet_assets, exposed to EVM contracts through precompiles and prepared for native Hub/XCM workflows.
That advantage only matters if real applications make those assets easy to create, trade, and use.
plaza.fun activates this layer in three ways:
This turns dormant infrastructure into live application activity.
The delivered system covers the full token lifecycle:
Create native asset
-> Bonding curve trading
-> Curve fills
-> Automatic graduation
-> PlazaSwap pair created
-> 90% LP burned forever
-> 10% LP locked in creator vault
-> Creator earns through transferable FeeKeyNFT
Delivered components:
| Component | Delivered scope | Status |
|---|---|---|
| Bonding curve launchpad | Native asset creation, buy/sell flow, fee routing, graduation threshold logic | Mainnet deployed |
| PlazaSwap V2 | Uniswap V2-style DEX for graduated assets and general ERC-20 pair routing on Hub | Mainnet deployed |
| Graduation system | Moves a token from bonding curve to DEX liquidity, burns LP, locks creator LP position | Mainnet deployed |
| FeeKeyNFT + CreatorFeeVault | Transferable creator revenue rights after graduation | Mainnet deployed |
| Frontend application | Create, explore, trade, token pages, swap/pool surfaces, blog/documentation | Live at plaza.fun |
| Indexer / backend | Real-time event indexing, relayer paths, LP harvester, data APIs | Running on mainnet |
| Security and governance controls | Internal security review, critical/high fixes, TimelockController, Guardian emergency pause | Complete |
| Verified contracts | Contract source code verified on Blockscout, available for public review | Verified |
The table above lists shipped mainnet components rather than future roadmap items.
Most token launchpads deploy ERC-20 contracts from a factory. plaza.fun's core design is different: tokens are Hub native assets.
| Generic ERC-20 launchpad | plaza.fun on Polkadot Hub |
|---|---|
| Deploys a new ERC-20 contract per token | Creates a pallet_assets runtime asset |
| Liquidity is usually external or manually bootstrapped | Bonding curve liquidity exists from creation |
| Post-launch liquidity can be pulled or migrated | Graduation burns 90% of LP tokens permanently |
| Creator economics often stop at launch | FeeKeyNFT creates transferable creator fee rights |
| Mostly app-local activity | Every token and trade exercises Hub-native asset infrastructure |
plaza.fun is not only an EVM app deployed on Hub. It is an application that turns Hub's native asset model into something users can create and trade without understanding the underlying runtime.
Organic mainnet activity has continued with no marketing spend, no incentive program, and no airdrop — confirming that native asset creation on Hub attracts real users when made accessible through a usable consumer interface.
Snapshot from plaza.fun/explore, cross-checked against the production Supabase index, fetched on 2026-05-25:
| Metric | Value |
|---|---|
| Visible active tokens | 19 |
| Bonding curve trades | 346 indexed trades |
| Indexed bonding-curve trading volume | ~5,038.55 DOT across 346 indexed trades |
| Highest visible market cap | ~695.64 DOT |
| Holder activity | All 19 visible tokens show holder activity; top token has 13 holders |
| Trade activity | All 19 visible tokens show trade activity |
| Graduation progress | Top visible token is 27% toward graduation |
| Community feedback | Active feature requests, including a deployers page and clearer creator visibility |
The trading-volume figure comes from the production Supabase index (omni_trades.quote_amount, polkadot-hub-mainnet). This early traction is a signal, not a scale claim. It also shows that activity did not stall after the first week: visible active tokens increased from the 2026-05-16 snapshot, indexed trades reached 346, indexed bonding-curve volume reached ~5,038.55 DOT, and the current highest visible market cap remains materially above the first-week ~270 DOT level. The point is simple: when native asset creation and trading are accessible through a usable application, organic behavior appears on Hub without incentives.
No token has graduated yet. The graduation threshold (2000π DOT, about 6,280 DOT; roughly $8K at recent DOT rates) is a deliberate design choice: graduation should signal real market conviction, not a speed-run. As of this snapshot, the leading visible token is 27% toward graduation. The graduation mechanism is deployed and designed to execute automatically when the threshold is reached.
Building plaza.fun also surfaced practical Hub EVM integration lessons and upstream contributions:
Upstream issues filed:
paritytech/polkadot-sdk#11525 — Discovered a platform-level issue with complex call chain behavior through pallet_revive.call. Filed with full reproduction steps, component isolation, and an async graduation workaround. This is the kind of builder feedback that helps harden Hub's EVM layer for all future dApps.paritytech/hardhat-polkadot#430 — PVM / tooling bytecode-size findings, transferred from polkadot-sdk#11526.Integration patterns developed:
pallet_assets ERC-20 precompile edge cases, including metadata and approval integration issues.Technical documentation:
These are supporting contributions. The primary delivered value is the working native asset activation layer.
| Workstream | Delivered scope | Effort | Subtotal |
|---|---|---|---|
| Core protocol contracts | Bonding curve, native asset lifecycle, fee config, registries, creator fee logic, upgrade/governance controls. 47 Solidity files (approx. 11,200 lines source), 177 test files (approx. 80,500 lines). | approx. 5 FTE-months | $39,000 |
| PlazaSwap + graduation system | Uniswap V2-style DEX deployment, graduation flow, LP burn/lock mechanics, adapter patterns. 6 contracts including factory, pair, router, adapters. | approx. 3 FTE-months | $22,000 |
| Frontend application | Create, explore, trade, token details, swap/pool surfaces, blog and product UI. Next.js, 40+ pages/routes. | approx. 4 FTE-months | $21,000 |
| Indexer / backend / relayer | Event indexing, APIs, relayer paths, LP harvester, production data plumbing. Cloudflare Workers + Supabase. | approx. 3 FTE-months | $18,000 |
| Security review + QA | Internal review, critical/high fixes, permission checks, production verification. | approx. 1.5 FTE-months | $7,000 |
| Technical documentation + upstream issue work | Builder's Journal (7 parts), GitHub issues (#11525, #11526), reproduction repos, Hub EVM integration writeups. | approx. 1.5 FTE-months | $3,000 |
| Total | approx. 18 FTE-months | $110,000 |
Team composition: 4 full-time + 2 part-time (approx. 25-30%) over 4 months (January–April 2026), yielding approximately 18 FTE-months. Effective blended rate: approx. $6,100 per FTE-month, still materially below typical senior Web3 engineering rates.
This request includes:
This proposal is retroactive so voters can evaluate shipped work instead of promises.
The system has already been built and deployed. The requested work does not depend on future Treasury payments. If this referendum passes, it funds completed development work. If it does not pass, the deployed product, contracts, documentation, and issue history remain public and operational. The team continues to maintain the platform. The deliverables — deployed contracts, open-source code, and public documentation — are already in the community's possession and cannot be withdrawn.
The platform is intended to be self-sustaining through:
Any future Treasury request, if ever submitted, should be scoped separately around new ecosystem contributions and judged on its own merits.
The beneficiary of this referendum is the account specified in the on-chain call. Elvis is the named accountable party for delivery and post-funding reporting.
The team will publish or link the following alongside this referendum:
If funded, Elvis commits to publishing monthly updates for 6 months covering:
pallet_revive / Hub EVM follow-up workWe ask voters to evaluate the delivered code, deployed contracts, and public documentation — all verifiable today.
To keep the proposal honest:
These gaps are why the proposal is scoped as retroactive funding for completed infrastructure, not a claim that plaza.fun has already become a large-scale consumer application.
plaza.fun is a live app on Polkadot Hub that lets people create and trade tokens. It asks for $110,000 as one-time funding for work already done.
This referendum requests $110,000 USDT (Asset Hub USDt) as one-time retroactive development funding for plaza.fun: a live app on Polkadot Hub proving that native assets + EVM execution can produce real user activity. This is a live mainnet product, not a concept, pitch deck, or testnet-only demo. plaza.fun lets users create pallet_assets tokens, trade them through bonding curves, and graduate successful tokens into PlazaSwap liquidity with 90% LP permanently burned and creator fee rights represented by FeeKeyNFTs.
This referendum is not asking the Treasury to fund a concept, pitch deck, or testnet-only demo; it requests retroactive development funding for shipped infrastructure that users can already access and verify.
Specifically, this proposal covers delivered native asset activation infrastructure: native asset creation, bonding curve launches, the PlazaSwap graduation path, indexer, frontend, documentation, and upstream contributions to the Polkadot Hub EVM ecosystem.
plaza.fun is a native asset activation layer on Polkadot Hub: a production application that turns Hub's native asset infrastructure into a usable consumer workflow.
Users can:
pallet_assets token through a web UIPolkadot Hub already has the core ingredients for an application-centric future: native assets, EVM execution, stablecoins, shared security, and low fees. plaza.fun activates those primitives in a real application. Every token created through plaza.fun is a Hub native asset. Every trade settles on Hub. Every graduation creates Hub-side liquidity.
This proposal requests one-time retroactive funding for completed development work from January to April 2026. It does not include future milestones, forward funding, marketing spend, liquidity incentives, or operating runway.
| Field | Value |
|---|---|
| Track | Medium Spender |
| Request | $110,000 USDT (Asset Hub USDt) |
| Payment type | One-time retroactive payment |
| Period covered | January - April 2026 |
| Beneficiary | The beneficiary account specified in the on-chain call |
| Named accountable party | Elvis (@elvis_build, Subsquare identity) |
| Future milestones | None |
| Forward funding | None |
Hub is not just another EVM chain. Its strongest differentiator is that assets can be runtime-level pallet_assets, exposed to EVM contracts through precompiles and prepared for native Hub/XCM workflows.
That advantage only matters if real applications make those assets easy to create, trade, and use.
plaza.fun activates this layer in three ways:
This turns dormant infrastructure into live application activity.
The delivered system covers the full token lifecycle:
Create native asset
-> Bonding curve trading
-> Curve fills
-> Automatic graduation
-> PlazaSwap pair created
-> 90% LP burned forever
-> 10% LP locked in creator vault
-> Creator earns through transferable FeeKeyNFT
Delivered components:
| Component | Delivered scope | Status |
|---|---|---|
| Bonding curve launchpad | Native asset creation, buy/sell flow, fee routing, graduation threshold logic | Mainnet deployed |
| PlazaSwap V2 | Uniswap V2-style DEX for graduated assets and general ERC-20 pair routing on Hub | Mainnet deployed |
| Graduation system | Moves a token from bonding curve to DEX liquidity, burns LP, locks creator LP position | Mainnet deployed |
| FeeKeyNFT + CreatorFeeVault | Transferable creator revenue rights after graduation | Mainnet deployed |
| Frontend application | Create, explore, trade, token pages, swap/pool surfaces, blog/documentation | Live at plaza.fun |
| Indexer / backend | Real-time event indexing, relayer paths, LP harvester, data APIs | Running on mainnet |
| Security and governance controls | Internal security review, critical/high fixes, TimelockController, Guardian emergency pause | Complete |
| Verified contracts | Contract source code verified on Blockscout, available for public review | Verified |
The table above lists shipped mainnet components rather than future roadmap items.
Most token launchpads deploy ERC-20 contracts from a factory. plaza.fun's core design is different: tokens are Hub native assets.
| Generic ERC-20 launchpad | plaza.fun on Polkadot Hub |
|---|---|
| Deploys a new ERC-20 contract per token | Creates a pallet_assets runtime asset |
| Liquidity is usually external or manually bootstrapped | Bonding curve liquidity exists from creation |
| Post-launch liquidity can be pulled or migrated | Graduation burns 90% of LP tokens permanently |
| Creator economics often stop at launch | FeeKeyNFT creates transferable creator fee rights |
| Mostly app-local activity | Every token and trade exercises Hub-native asset infrastructure |
plaza.fun is not only an EVM app deployed on Hub. It is an application that turns Hub's native asset model into something users can create and trade without understanding the underlying runtime.
Organic mainnet activity has continued with no marketing spend, no incentive program, and no airdrop — confirming that native asset creation on Hub attracts real users when made accessible through a usable consumer interface.
Snapshot from plaza.fun/explore, cross-checked against the production Supabase index, fetched on 2026-05-25:
| Metric | Value |
|---|---|
| Visible active tokens | 19 |
| Bonding curve trades | 346 indexed trades |
| Indexed bonding-curve trading volume | ~5,038.55 DOT across 346 indexed trades |
| Highest visible market cap | ~695.64 DOT |
| Holder activity | All 19 visible tokens show holder activity; top token has 13 holders |
| Trade activity | All 19 visible tokens show trade activity |
| Graduation progress | Top visible token is 27% toward graduation |
| Community feedback | Active feature requests, including a deployers page and clearer creator visibility |
The trading-volume figure comes from the production Supabase index (omni_trades.quote_amount, polkadot-hub-mainnet). This early traction is a signal, not a scale claim. It also shows that activity did not stall after the first week: visible active tokens increased from the 2026-05-16 snapshot, indexed trades reached 346, indexed bonding-curve volume reached ~5,038.55 DOT, and the current highest visible market cap remains materially above the first-week ~270 DOT level. The point is simple: when native asset creation and trading are accessible through a usable application, organic behavior appears on Hub without incentives.
No token has graduated yet. The graduation threshold (2000π DOT, about 6,280 DOT; roughly $8K at recent DOT rates) is a deliberate design choice: graduation should signal real market conviction, not a speed-run. As of this snapshot, the leading visible token is 27% toward graduation. The graduation mechanism is deployed and designed to execute automatically when the threshold is reached.
Building plaza.fun also surfaced practical Hub EVM integration lessons and upstream contributions:
Upstream issues filed:
paritytech/polkadot-sdk#11525 — Discovered a platform-level issue with complex call chain behavior through pallet_revive.call. Filed with full reproduction steps, component isolation, and an async graduation workaround. This is the kind of builder feedback that helps harden Hub's EVM layer for all future dApps.paritytech/hardhat-polkadot#430 — PVM / tooling bytecode-size findings, transferred from polkadot-sdk#11526.Integration patterns developed:
pallet_assets ERC-20 precompile edge cases, including metadata and approval integration issues.Technical documentation:
These are supporting contributions. The primary delivered value is the working native asset activation layer.
| Workstream | Delivered scope | Effort | Subtotal |
|---|---|---|---|
| Core protocol contracts | Bonding curve, native asset lifecycle, fee config, registries, creator fee logic, upgrade/governance controls. 47 Solidity files (approx. 11,200 lines source), 177 test files (approx. 80,500 lines). | approx. 5 FTE-months | $39,000 |
| PlazaSwap + graduation system | Uniswap V2-style DEX deployment, graduation flow, LP burn/lock mechanics, adapter patterns. 6 contracts including factory, pair, router, adapters. | approx. 3 FTE-months | $22,000 |
| Frontend application | Create, explore, trade, token details, swap/pool surfaces, blog and product UI. Next.js, 40+ pages/routes. | approx. 4 FTE-months | $21,000 |
| Indexer / backend / relayer | Event indexing, APIs, relayer paths, LP harvester, production data plumbing. Cloudflare Workers + Supabase. | approx. 3 FTE-months | $18,000 |
| Security review + QA | Internal review, critical/high fixes, permission checks, production verification. | approx. 1.5 FTE-months | $7,000 |
| Technical documentation + upstream issue work | Builder's Journal (7 parts), GitHub issues (#11525, #11526), reproduction repos, Hub EVM integration writeups. | approx. 1.5 FTE-months | $3,000 |
| Total | approx. 18 FTE-months | $110,000 |
Team composition: 4 full-time + 2 part-time (approx. 25-30%) over 4 months (January–April 2026), yielding approximately 18 FTE-months. Effective blended rate: approx. $6,100 per FTE-month, still materially below typical senior Web3 engineering rates.
This request includes:
This proposal is retroactive so voters can evaluate shipped work instead of promises.
The system has already been built and deployed. The requested work does not depend on future Treasury payments. If this referendum passes, it funds completed development work. If it does not pass, the deployed product, contracts, documentation, and issue history remain public and operational. The team continues to maintain the platform. The deliverables — deployed contracts, open-source code, and public documentation — are already in the community's possession and cannot be withdrawn.
The platform is intended to be self-sustaining through:
Any future Treasury request, if ever submitted, should be scoped separately around new ecosystem contributions and judged on its own merits.
The beneficiary of this referendum is the account specified in the on-chain call. Elvis is the named accountable party for delivery and post-funding reporting.
The team will publish or link the following alongside this referendum:
If funded, Elvis commits to publishing monthly updates for 6 months covering:
pallet_revive / Hub EVM follow-up workWe ask voters to evaluate the delivered code, deployed contracts, and public documentation — all verifiable today.
To keep the proposal honest:
These gaps are why the proposal is scoped as retroactive funding for completed infrastructure, not a claim that plaza.fun has already become a large-scale consumer application.
Threshold
Threshold