root

- An attacker stole over 312,185 DOT and 126,837 USDT from a parachain.
- The attacker gained control by upgrading the runtime with malicious code.
- They moved most of the stolen funds to exchanges and sold them for XMR.
- The attacker still has control over the parachain, putting more DOT at risk.
- A runtime upgrade is needed to stop further losses and secure user funds.
- The upgrade will restore control and remove the attacker's privileges.
- Efforts are being made to recover stolen funds and improve security.
- The community is being kept informed and encouraged to provide feedback.

Deciding

Critical Runtime Upgrade to Prevent Further Exploitation

- **Parallel Finance Governance Takeover**: A group is proposing to take over governance of Parallel Finance due to alleged fraudulent activities by the team.
- **Fraudulent Activities**: Evidence suggests that Parallel Finance may have started a "rug pull" as early as April 2024, involving secret minting and burning of tokens.
- **Key Accounts Involved**: Several key accounts controlled by Parallel Finance team members are identified, including those used for minting, burning, and transferring funds.
- **Fund Transfers**: Large amounts of funds have been transferred from Parallel Finance accounts to Binance and other exchanges.
- **Community Concerns**: The group emphasizes that control should not be returned to the Parallel Finance team, citing significant fraudulent activities.
- **RPC Instability**: The current RPC (Remote Procedure Call) maintained by Parallel Finance is unstable, raising concerns about intentional disruption.
- **Previous Criminal Record**: The leader of Parallel Finance, Yubo, has a history of failing to return user funds, as reported in a previous incident.
- **Community Decision**: The group is waiting for the Polkadot community to decide on the next steps regarding the governance takeover.

TimedOut

Subject: Parallel Finance Guilty- Request for Investigation

- Some projects can't access their Polkadot OpenGov funds on Asset Hub because the pure proxy multisig setup only works on the relaychain.
- To fix this, the setup needs to be replicated on Asset Hub using guidelines by Basti, a Polkadot Technical Fellowship Grand Architect.
- Projects with inaccessible funds include Heroic, PBA, Polytope Labs, and the Social Media Editorial Board.
- The Social Media Editorial Board recently received their funds after a referendum was submitted.
- A new referendum is being resubmitted with an updated call to help other projects access their funds.
- The pure proxy setup has been tested on Asset Hub using Chopsticks.
- A screenshot shows the successful test of the pure proxy setup on Asset Hub.

Executed

Pure Proxy Replication for accounts with inaccessible funds on Asset Hub

[DO NOT PLACE DECISION DEPOSIT] Check the new referendum submitted

- The referendum aims to enact the Polkadot Ambassador Fellowship Manifesto.
- It builds on lessons from previous programs (1.0 and 2.0) and community feedback.
- The manifesto emphasizes learning from the past and having a clear vision for the future.
- It focuses on rebuilding values and principles, promoting collaboration over competition.
- The program is grassroots-oriented but structured, aiming for simplicity and fairness.
- It is designed "from the community, for the community," fostering equal participation.
- The fellowship serves as a starting point for various paths and connections.
- It is resilient to change, focused on building a decentralized community.

The Polkadot Ambassador Fellowship

Please reject/ignore.

[Root] Please reject/ignore

- A new referendum proposes converting part of Polkadot Treasury's DOT assets into stable coins (USDT and USDC).
- Similar to Referendum 457, it uses Hydration's DCA feature to sell a fixed amount of DOT daily.
- The conversion plan spans one year.
- Unlike Referendum 457, this proposal sells a fixed amount of DOT per trade, not a fixed amount of stable coins.
- For more details, methodology, and calculations, see the [proposal document](https://docs.google.com/document/d/113gRdJ-LxqbzhSZZOewL1XPLINjOG0oFtNM9IZVQFX8/edit).

WHO: Polkadot Treasury

WHAT: Gradually convert part of DOT assets into stable coins (USDT and USDC) using Hydration's DCA feature to sell a fixed amount of DOT per day.

PRICE/TIMEFRAME/RESOURCES: Not specified. Refer to the proposal doc for more details.

Convert Part of DOT Assets to Stablecoins

- DAOs often start with treasuries funded by speculation.
- These treasuries can become a problem over time.
- Incentives can weaken, not strengthen, collective decision-making.
- An alternative is to create tokens that are not easily sold (illiquid/vesting) for specific on-chain tasks.
- This helps promote the use of a native stablecoin within the ecosystem.
- The stablecoin is issued by Brale and keeps its yield within the system.
- There is a history of similar ideas, like burning treasury funds to reset them.

WHO: Not specified
WHAT: Proposing an alternative approach to current DAO designs by minting illiquid/vesting network token for on-chain impact and driving economic adoption of native stablecoin issued by Brale with yield staying within ecosystem.
PRICE/TIMEFRAME/RESOURCES: Not specified.

forceSetBalance treasury to 0

### Proposal Summary

- **Objective**: Reduce the minimum balance (minBalance) of USDT and USDC on AssetHub from 0.07 to 0.01.
- **Context**: Following the successful launch of Novasama's Telenova app, discussions aim to make Polkadot surpass competitors like Solana and Tron in stablecoin payments.
- **Proposed Changes**:
  - Lower minBalance of stablecoins to $0.01.
  - Reduce transaction fees on AssetHub by a factor of 10.
  - Achieve sub-1-second block times through Elastic Scaling.
- **Impact**: These changes, combined with apps like Telenova, could make AssetHub (and Polkadot) the preferred platform for fast, cheap, and reliable stablecoin transfers.
- **Testing**: The proposal was tested successfully using Chopsticks by experienced developers.

**Proposal to reduce the minimum balance of USDT and USDC on AssetHub to $0.01 from $0.07 to improve stablecoin payments and transfers on Polkadot.** This proposal is part of a larger plan to reduce transaction fees and block times on AssetHub and make Polkadot a hub for cheap, fast, and reliable stablecoin transfers. The proposal was tested successfully and prepared by a member of the Fellowship.

Reduce minBalance of USDT/C to 0.01

lol - NAY

### Referendum Summary

- **Purpose**: To fund the Fellowship sub-treasury with 2 million DOT.
- **Previous Proposal**: Initially proposed 1 million DOT, increased to 2 million based on feedback.
- **Funding Source**: Transfer from the main Treasury to the Core Fellowship sub-treasury.
- **Benefit**: Allows the Fellowship to directly approve technical funding proposals.
- **Future Plans**: Potential automatic funding from inflation tranches via RFC-89.
- **Other Collectives**: Will also have the ability to grant proposals from their sub-treasuries.
- **Discussion**: Originated from a [previous discussion](https://polkadot.polkassembly.io/post/2324).

WHO: Polkadot community

WHAT: Referendum to send 2 million DOT from the "main" Treasury to the Core Fellowship sub-treasury for direct funding proposals

PRICE/TIMEFRAME/RESOURCES: Not specified

Funding the Technical Fellowship Sub-Treasury

PLEASE VOTE NAY

### Root Proposal Summary

- **Resubmission**: The proposal is being resubmitted through the root track due to its strategic importance and privacy concerns.
- **Links**: 
  - [Complete Proposal](https://docs.google.com/document/d/13eaYivnnSyxfvFBItl-4u93zraJ1tPoRBGcNj8vvnf4/edit?usp=sharing)
  - [Previous Proposal #684](684)
  - [Video Resolving Previous Discussion](https://youtu.be/OKrt2gGe4Cw)
  - [Doubts Q&A from Previous Debates](https://docs.google.com/document/d/1ULiTo7-pO42GbxBjI0hxMImvkXgEm5KXB09eF0zHwoo/edit?usp=sharing)
- **Improvements**:
  - **Onboarding for Moonbeam** is prioritized.
  - **Support Tier** upgraded from Gold to Platinum.
  - **Ongoing Case Support Hours** doubled from 200 to 400 hours.
  - **Training Capacity** tripled from 10 to 30 people.
  - **Investigation Licenses** increased from 5 to 7.

Cancelled

WHO: The proposal does not specify a particular organization or individual.

WHAT: The proposal outlines improvements to a previous referendum, including prioritizing onboarding for Moonbeam, upgrading support tier, doubling ongoing case support hours, tripling training capacity, and increasing investigation licenses.

PRICE/TIMEFRAME/RESOURCES: The proposal does not specify a particular cost or timeframe for implementing the improvements.

Chainalysis analytics solutions on Polkadot Network

VOTE NAY, WRONG PRE-IMAGE

### Summary of Proposal

- **No Delegations on Vital Tracks:** Proposes not allowing delegations on critical tracks like Root, Wish for Change, and Treasurer.
- **Risks of Delegation:** Delegation is risky for vital decisions due to the "agent problem" (potential conflict of interest).
- **Daily Life Analogy:** Similar to not delegating important life events (like marriage/divorce), certain protocol decisions should not be delegated.
- **Protecting Integrity:** The goal is to protect the system's integrity by ensuring key decisions are made directly by those responsible.
- **Not Targeting Specific Parties:** The proposal is not aimed at any specific group but emphasizes the importance of direct control over critical decisions.

Proposal: Do not allow delegations on Root, Wish for Change, and Treasurer tracks due to their vital importance. Trusting a third party for such critical actions is risky. This is not targeted at DV, but rather to protect the system's integrity. No specific price/timeframe/resources mentioned.

error - vote NAY

### Phala Network Referendum Summary

- **Purpose**: To transfer $PINK tokens from Phala's sovereign account on Polkadot to a sibling account on AssetHub.
- **Background**: Phala received 18,862,885 $PINK tokens from the PINK team, but mistakenly provided the wrong account.
- **Issue**: The sovereign account on AssetHub cannot be controlled directly, so the tokens cannot be moved without a referendum.
- **Solution**: A referendum is needed to move the tokens via XCM from Polkadot.
- **Outcome**: If passed, the tokens will be moved to the correct sibling account.
- **Distribution**: The tokens will be distributed to the Phala community based on a strategy proposed by the community.
- **Community Involvement**: The distribution plan was discussed and approved by the Phala community.
- **Next Steps**: Community members are encouraged to vote on the referendum.

Phala Network proposes a referendum to move $PINK from their sovereign account to their sibling account on AssetHub, to distribute it to their community. The proposal needs a referendum to send an XCM message from Polkadot, and the distribution will follow a strategy proposed by the community.

Proposal for unlocking $PINK from Phala soverign account to sibling account

### Summary of JAM Proposal

- **JAM Protocol**: A decentralized, cryptoeconomic protocol proposed as a potential replacement for the Polkadot Relay-chain.
- **CoreJam**: An early version of the JAM protocol, proposed in Polkadot Fellowship RFC-31.
- **Responsibilities**: If approved, Polkadot Fellows would be responsible for ratifying the final JAM protocol, defining tests, and ensuring compatibility with the Polkadot Relay-chain.
- **Deployment**: The Polkadot Relay-chain would halt when the JAM chain and compatibility service are ready, after professional audits.
- **Remark Call**: Approval of the proposal signals community willingness for JAM supervision by the Technical Fellowship, but no on-chain changes will occur.

Polkadot Fellows propose JAM, a decentralized protocol that could replace Polkadot Relay-chain. The proposal aims to ratify and define conformance and performance tests for the Polkadot JAM Protocol, and develop and deploy a Polkadot-Relay-chain compatibility service on the JAM protocol. The Polkadot Relay-chain should halt when the JAM chain, compatibility service, and required system parachains are ready for launch. The proposal is a remark call, signaling the community's willingness to accept the ratification and supervision of JAM by the Technical Fellowship.

Proposal for JAM Ratification, Conformance, Performance by Polkadot Fellows

- **Referendum Proposal**: A proposal by Starlay Finance to address a significant hacking incident.
- **Incident Summary**: A hack compromised all DOT and LDOT deposits, with the attacker exploiting a flaw in the USDC pool's liquidity index calculation.
- **Amount at Risk**: Approximately 200,000 DOT.
- **Hacker's Addresses**: Identified on the Relay Chain, with details available in a shared spreadsheet.
- **Exploit Details**: The attacker manipulated the liquidity index, allowing them to withdraw more than their initial deposit.
- **Pool Inactivity**: The USDC pool was inactive for 20-25 days, leading to an abnormally large liquidity index.
- **Initial Oversight**: The USDC pool was neglected at the protocol's launch, setting the stage for the exploit.
- **Request for Support**: Starlay Finance seeks community assistance to transfer DOT from the hacker's account to their own.

WHO: Starlay Finance

WHAT: Seeking support from the Polkadot community to explore viable measures to transfer all the DOT from the hacker's account to Starlay's account, following a significant hacking incident compromising Starlay Finance.

PRICE/TIMEFRAME/RESOURCES: Not specified.

Request for transferring all the DOT from the hacker's account to the Starlay's account

### Polkadot Ambassador Program

- **Purpose**: To represent Polkadot externally and attract new users and partners.
- **Ranks**: Four levels: Head Ambassador (HA), Senior Ambassador (SA), Ambassador, and Candidate Ambassador (CA).
- **Membership**: HAs are appointed via token-holder referendum; SAs are promoted from Ambassadors.
- **Treasury**: Funds salaries, events, and other expenses. HAs receive a salary; others can propose expenses.
- **Voting**: Different tracks for different ranks with varying vote weights.
- **Seeding**: No initial members; HAs cannot act until at least ten are appointed.
- **Modifications**: Changes to the program require approval through specific tracks.
- **Conclusion**: A decentralized, on-chain group to promote Polkadot's success.

**WHO:** Polkadot network  
**WHAT:** Proposes an on-chain, rank-based, decentralized Polkadot Ambassador Program to represent Polkadot outside its existing sphere and bring new entrants into the ecosystem. The program will have four ranks: Head Ambassador, Senior Ambassador, Ambassador, and Candidate Ambassador. The Head Ambassador track will have up to 21 members, who will receive a salary of 10,000 USDT per month. The program will have an on-chain Treasury for salaries, events, and other expenses.  
**PRICE/TIMEFRAME/RESOURCES:** Not specified.

Polkadot Ambassador Program

USDT and USDC Acquisition for the Treasury

De-register parachain ID 2057

whitelisted_caller

wish_for_change

staking_admin

treasurer

lease_admin

fellowship_admin

general_admin

auction_admin

referendum_canceller

referendum_killer

small_tipper

big_tipper

small_spender

medium_spender

big_spender

Referenda Root

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.

[0] Origin: Root