The absolute A U D A C I T Y, considering how many private sales DOT has had. 

https://www.coindesk.com/markets/2020/07/27/polkadot-raises-43m-in-72-hour-private-sale-source
https://bitinfocharts.com/bitcoin/address/1EVhXW5aSMCtiTvzY31nfoN2qiTyLmpzcb

At the height, this BTC wallet held $126M in BTC, now $70M (still $27m above the 43m raised in 72hrs.

Should I dig further and create a full report on how much has been "raised" throughout the years, only for fellowship to DCA DOT into Hollar? Beyond a joke btw.

[@N4DRO](12WKDN26GELestXjwPDKTrtwdaf5yuuNb4Guuc2VUNTCP3vr-polkadot) 

Yes, please dig into what W3F is doing with 30% of the entire DOT supply and the several private and public sales and funds that were raised.

The upfront amounts to be DCA'd are bloated and the overall compensation structure is, to put it mildly, cheeky.

W3F received 30% of the entire DOT supply and had more private and public sales,
why are you asking for DOT from Treasury? Ask for W3F!

Also, considering the disastrous DOT chart, instead of reducing spending you write about more members and more spending, shame on you leftist, communist parasites!
I recently found out that passive Fellowship members are taking 50% of their salary, doing nothing, this is such decadence, immorality, unethical that someone should go to JAIL for this!

It is unheard of that after 10 months there is still no DEX on Polkadot HUB and you have to use Hydration DEX,
by the way Hydration team and their community use it 24/7 of the time for FUD on Polkadot, mocking it and it is a matter of time when they will leave the Polkadot ecosystem like many other teams before.
And you incompetent, ignorant, self-righteous "developers" will STILL use Hydration DEX!
Because because of your incompetence there is still no DEX on Polkadot HUB.

After 8 years Polkadot still has no profit, Treasury is being squeezed mercilessly, and W3F is keeping their ETH and BTC.

If W3F is keeping their ETH and BTC and mercilessly selling DOT, why would any investor with at least 10% functional brain buy DOT, instead of BTC and ETH??!

**Vote NAY!**

[@14uk...GCEw](14ukpDXnp67cXNUU62s3YmtieuvC8xnr7ECHgbRPfMhJGCEw-polkadot) 
This is WHOLLY unfair analysis! The community might clown DOT 24/7, but the team certainly takes breaks and is more constructive in their critiques! Maybe 3 days a week at best! 

[@14uk...GCEw](14ukpDXnp67cXNUU62s3YmtieuvC8xnr7ECHgbRPfMhJGCEw-polkadot) 
Their salaries are also paid from the national treasury. They run 100 nodes, each generating $20,000 a month in revenue, which also goes into their private pockets. These parasites.

unfortunately everything other users wrote in the comment section is true. Nay from me.

Have you created value for dot holders? If yes, Why has that value not been reflected in the dot price?  If what you are doing is valuable to dot holders, why not accept payment in dot?

https://x.com/thewhiterabbitm/status/2089406834524180923?s=46
This  lists examples of hundreds of millions of dollars wasted by the national treasury.
They own 30% of the tokens. They run over 100 nodes, each earning $20,000 per month. However, all Polkadot expenditures are funded by the Polkadot Treasury, including their monthly salaries of millions of dollars, the $10 million jam reward, and so on. They also manipulate voting to extract additional funds (Proposals 1928 and 1930).
Even so, there are still a bunch of idiots who believe them. It's incredibly stupid. Six years of price charts haven't woken these fools up. They've banned all negative comments and just post some PowerPoint slides every day. In six years, all they've developed is a voting system to exploit the community. Damn it.
Furthermore, there's a founder and CEO who looks like a beggar and only appears in public once a year; it's unclear whether he's in prison or on vacation. He didn't even show up at the 2025 Sub-Zone Summit, using a projector instead. He appeared after the summit ended. This is the kind of person a bunch of fools worship. It's pathetic that a bunch of fools place their hopes on this kind of person.
Polkadot raises millions of dollars monthly by selling DoT, solely to pay employee salaries. I believe Polkadot will last at most a year. Many who refuse to wake up are simply unwilling to exit because they've lost too much. But you will miss the entire cryptocurrency bull market. Think carefully about what they've launched in the past six years. Have they ever taken investors seriously? Have they ever released any financial reports or active user data statements? The answer is no. They've only been constantly draining the community's funds.
The current situation is that users and projects are choosing to leave, and the Treasury continues to sell off assets every month. Polkadot is a ghost chain.

From what I can see, there are still 3.76M USDT available in the treasury. Please correct me if I’m mistaken.

If that’s the case, it would make more sense to use half of the budget (1.7625M) from the USDT currently available in the treasury for the short-term payments, while covering the other half of the required budget with DOT through DCA into Hollar.

The Polkadot treasury is preparing to sell 4.2 million $DOT tokens to pay salaries to so-called technical researchers, which in my view is just funding research on yachts and prostitutes.

[@Kyrie_crypto](16M5hAMWDUi3VMJKjzyce17DGGRfxunLWapGq8izAwEfVNvZ-polkadot) 
https://x.com/thewhiterabbitm/status/2089406834524180923?s=46
These parasites are always eyeing the national treasury funds. For six years, Polkadot haven't produced any products. Their salaries exceed $1 million per month. They're researching beer, football, prostitutes, and yacht parties.


Polkadot's treasury has poured huge sums into Gavin's dream. He would rather donate 5 million DOT tokens to Ukraine than contribute a single penny to Jam's development.
First, while Jam was still under development, they proposed a new token (jamkb). They claimed it was controlled by DOTDAO (controlled by the W3F; the 1928 proposal was rejected by 99% of voters, but the W3F manipulated the vote with 1B, ultimately passing it). JAR Chain confirmed that Jam had absolutely no need to issue a new token.
Secondly, instead of explaining why new tokens had to be issued, they steered the conversation towards the issue of revenue burning. Once the new tokens are issued and circulating in the market, they become completely irrelevant to DOT in the secondary market. It's ironic that DOT investors spend huge sums of money investing in Jam, yet it has nothing to do with DOT.
Third, it's unclear whether jam will take two, three, or even longer to see substantial progress. This allows them to earn higher salaries. Unfortunately, Polkadot can't sustain itself for that long. In about a year, Polkadot will inevitably shut down. The user base and projects will essentially be exhausted.
We're currently in a crypto market rebound cycle, with many tokens rebounding by over 50%, and some even by 100% (BTC, ETH, DOL, uni, Aave, etc.). However, DOT is still near its lowest point because the Treasury has never stopped selling. Many memes have surpassed Polkadot's market capitalization. Polkadot is about to fall out of the top 50 or 100. It will die in a year.
But for them, they are already very wealthy. Polkadot's death won't bother them. Investors need to wake up in time and not let them so easily steal their wealth. They publicly raise funds and have no external financial statements. Investors can file a class-action lawsuit to get their money back. Wake up!

While supportive of the Polkadot Technical Fellowship, Web3 Foundation believes that further work needs to be done to control spending and define the mandate of the Fellowship and individuals on it before further funding is given to the Fellowship. Therefore, we will be voting NAY on this Referendum.

Specifically, before supporting any new funding referendum, we would like to see:

1. A Wish-for-change Referendum asking for any Fellow otherwise receiving a full-time salary for working on Polkadot to stop drawing a salary, with a plan in place to remove any Fellows not following this.
2. A Wish-for-change Referendum stating that the Fellowship should, within a specific time period, issue a remark or refer to a document clearly delineating a mandate and assigning specific responsibilities to specific Fellows, and that all members on Active salary must include in their Argument for Retention a specific Fellow for whom they are working.

Going forward, we would like to see continued changes in the Fellowship to ensure a sustainable spending and retention system.

[@BILL](16frLykgLH5w8pNsvzEMTzCESMpLqWJMr4SGJUJQgYniDzdb-polkadot) 

Just to clarify #2, this could have been better worded. W3F does not require a WFC specifically, only that the Fellowship clarifies its mandate in some on-chain form.

> The Fellowship's **Architects** track on the Collectives chain retains the authority to cancel or recalibrate the DCA schedule at any point in time, such as in the event of significant DOT price movements that would affect HOLLAR inflows relative to projected salary requirements.

Good of you to name the **Architects** track explicitly - it does clarify where the risk has been placed.

The Fellowship Salary account, originally funded in USDT through [Referendum 231](https://polkadot.subsquare.io/referenda/231), will be depleted by the end of Q3 2026. Two short-term DCA operations from the Fellowship's own sub-treasury (refs [526](https://collectives.subsquare.io/fellowship/referenda/526) and [566](https://collectives.subsquare.io/fellowship/referenda/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](https://docs.google.com/document/d/1wJ4yQg7FLebqR0qYEWVVNTgp2DmLivPFACSIrcWTfF4/edit?usp=sharing). 


The Fellowship Salary account is running out of money by the end of 2026. To keep paying salaries, a plan asks for 4,800,000 DOT from the Treasury. This money will be slowly changed into HOLLAR over 12 months to cover salaries starting in October 2026. The plan needs about $3,525,000 for the year, based on how many members are expected. If less money is used or the price of DOT goes up, the extra cash stays safe for later. One big vote will start everything, but people can stop it if things change.

calls

Cancelled

Submitted

DecisionStarted

DecisionDepositPlaced

root

Replenishing the Technical Fellowship Salary Account with HOLLAR

whitelisted_caller

wish_for_change

staking_admin

treasurer

lease_admin

fellowship_admin

general_admin

auction_admin

technical_maintenance

prosperity_emergency

referendum_canceller

referendum_killer

small_tipper

big_tipper

small_spender

medium_spender

big_spender

Origin able to dispatch a whitelisted call.

Origin for signaling that the network wishes for some change

Origin able to cancel slashes and manage minimum commission.

Origin for spending up to 10,000,000 DOT from the treasury as well as generally administering it.

Origin for managing the composition of the fellowship.

Origin able to spend around 250 DOT from the treasury at once.

Origin able to spend around 1,000 DOT from the treasury at once.

Origin able to spend around 10,000 DOT from the treasury at once.

Origin able to spend around 100,000 DOT from the treasury at once.

Origin able to spend up to 1,000,000 DOT from the treasury at once.