Harbour Industrial Capital wants to raise a second Polkadot Ecosystem Fund worth $100 million. They need a marketing budget of $1 million to do this. They plan to spend the money by sponsoring 20 Family Office summits and investment conferences. 

Harbour Industrial Capital has already raised a Polkadot fund of $10 million and invested in over 20 parachains and other Polkadot-based projects. They have a team with experience in traditional finance and can bring non-crypto investors into Polkadot. 

The new fund is needed because many traditional venture capitalists still ignore projects building on Polkadot. Harbour Industrial Capital wants to change this and make Polkadot the place where great builders go to access capital. 

The investment strategy of Harbour Industrial Capital includes attracting old money to Web3, educating investors about Polkadot, achieving absolute returns on Polkadot, and supporting their portfolio companies. They plan to organize Family Office Summits to help their portfolio companies raise funds. 

The budget for the marketing campaign is still a draft, but it includes the cost of sponsoring events and other expenses. The number of events they can organize will depend on the actual costs. The more events they can organize, the more commitments they can get for the fund, and the more capital they can invest back into the Polkadot ecosystem.

Rejected

big_spender

_This proposal aims to obtain a marketing budget of US$1 million to support Harbour Industrial Capital in raising a second Polkadot Ecosystem Fund, with a target size of US$100 million. The primary means of spending this marketing budget will be through sponsorship of approximately 20 Family Office summits/ traditional investment conferences, where we see the greatest opportunity for untapped capital._

THE BELOW IS JUST A SUMMARY.  
TO READ THE FULL PROPOSAL, PLEASE CLICK [HERE](https://docs.google.com/document/d/1s-QBE6GYZh917bQC-b9GV2ffCVWkgwxRqks-uTiGQ5s/edit?usp=sharing).

**UPDATE 10 MAY: UPON REQUEST FROM SEVERAL REVIEWERS, WE HAVE ADDED A MORE DETAILED BUDGET IN THE TABLE BELOW. THERE HAVE BEEN NO CHANGES TO THE OVERALL BUDGET, IT JUST PROVIDES A MORE DETAILED BREAKDOWN OF COSTS.**

**Proof of Work: Who we are and what we have done so far**

-   As per Q1 2024, Harbour Industrial Capital has raised a Polkadot fund with AUM of US$10 million from around 40 LPs Exclusively deployed this in the Polkadot Ecosystems; Invested in over 20 parachains and other Polkadot-based projects
-   Organisers of the Polkadot monthly meetup HK; speakers for Polkadot at many events including Sub0, ParisDOTcomm, Web3 Festival, WOW Summit, TeamZ and Polkadot PULSE
-   TradFi background (Morgan Stanley, Deutsche Bank and Bank of China) and proven ability of bringing non-crypto native investors into Polkadot.

**Why We Need a New Large Polkadot Fund**

The unfortunate answer is: Because many traditional VCs still ignore projects building on Polkadot. Ask any team that recently tried to raise money from generic crypto VCs, a frequent reply is “You’ve got a good team and good idea, but why are you building on Polkadot?”. Sure, we believe this narrative will change over time as other capital allocators slowly begin to realise the potential of Polkadot. But in the meanwhile, we need a dedicated Polkadot-only VC, that helps all the exciting new projects building on Polkadot get off the ground.

It is a chicken-and-egg problem: If Polkadot based projects are starved of capital vis-a-vie those building in other ecosystems, Polkadot will never get the liquidity and “hype” that ultimately attracts more capital. Having worked in the ecosystem for many years, it’s sad to see quality Polkadot based projects migrate to other L1s/L2s, not because of the tech, but simply because they believe they have better opportunities to get VC funding there. We want to change that, and make Polkadot the place great builders go and access capital.

**Why Harbour Industrial Capital?**

Harbour Industrial Capital (HIC) is a private Polkadot VC fund, established by [Max Rebol](http://www.linkedin.com/in/maxrebol) and [Mario Altenburger](https://www.linkedin.com/in/marioaltenburger/) in 2021. We are registered in the Cayman Islands and headquartered in HK. As of Q1 2024 we have an AUM of over US$10 million. We have raised this money from private investors such as Family Offices, and subsequently deployed it exclusively in the Polkadot ecosystem. Fund 1 held its final closing on 31 December 2023, and we are about three quarters deployed. The plan is to launch Fund 2 towards the end of 2024, with a target size of US$ 100 million.

Investment Strategy Harbour Industrial Capital aims to achieve the following four interrelated objectives:

-   **Attracting Old Money to Web3  
    **We currently have around 40 LPs, primarily family offices and HNWI in Asia and Europe. Our focus hereby lies on bringing in capital with limited exposure to the crypto space, and offer a one-stop-shop, for everything Polkadot. We observed that these investors like to place large bets on entire ecosystems, but then prefer to work with professional fund managers to pick individual projects within.

-   **Polkadot Education  
    **Over the past three years, we spent a lot of time educating investors about the benefits of Polkadot, hosting events and meetups, speaking at Web3 conferences around the world and engaging in countless one-on-one conversations. Polkadot is a complex project, and needs good communicators to articulate its message.

-   **Achieving Absolute Returns on Polkadot  
    **In Fund 1 our primary strategy was buying DOT, which we subsequently used in parachain auctions to support promising projects to win a parachain slot. We have so far successfully done this for over 20 parachains. For Fund 2, our primary deployment strategy will be classical token VC, meaning we will pay cash for tokens, typically in a seed round, but potentially also in a growth stage. In addition, we may run other strategies that benefit the Polkadot ecosystem, such as buying liquid parachain tokens which we consider undervalued, liquidity provision (on Polkadot-based DEXes) and coretime brokerage (on Lastic).

-   **Supporting our Portfolio Companies  
    **Once invested in a Polkadot-based project, we support them in every way we can. Traditionally a central value add was helping them secure a parachain slot, which with the transition to core time is however becoming less important. We now help them access blockspace and set up collators, and introduce them to market makers and exchanges for token listing. Another important aspect of supporting our portfolio companies is getting them in front of investors at the Family Office Summits which we plan to organise (see next section for details), actively supporting their subsequent fundraising rounds.

**Family Offices as LPs**

Target LPs will primarily be institutional investors such as Family Offices (FOs) But why promote a Polkadot Ecosystem Development Fund, when people can just invest directly into Polkadot? There are at least three good reasons:

-   **A familiar structure for FOs  
    **We will incorporate the fund in the Cayman Islands, as a standard GP/LP fund. This is the most common structure for VCs, and one that most FOs have probably used in the past for investment in VCs in different industries. They can wire cash to our bank account in the fund’s name, and get paid out the same way. No need to set up exchange accounts, or remember private keys. For crypto natives this may sound trivial, but for traditional FO who we target here this still constitutes a high barrier to entry.

-   **Entire Ecosystem  
    **A simple investment into Polkadot may involve the purchase (and possibly subsequent staking) of DOT. However, to identify promising startups building on Polkadot requires in depth knowledge of the ecosystem and extensive due diligence. It is also exactly these startups to which we want to funnel the capital that they will require in their growth journey. It is unrealistic to expect FOs who come from different industry backgrounds to do this on their own.

-   **Active follow-ups  
    **This may be the most subtle, but also the most important reason. Nobody “owns” Polkadot, hence nobody is incentivised to follow up with potential investors from the conference, arranging calls and continuing the conversation until the investment is made. Harbour Industrial Capital will charge a standard carry, hence it will be in our very own interest, to follow up on every lead, and get them to invest.

**Budget**

Please find our proposed budget in the table below. Kindly note that this is still a draft, as the cost of many items are yet to be confirmed. Most importantly, the exact sponsorship fee will vary from event to event, and has to be negotiated with each event organiser. The numbers below are averages based on initial discussions we have had with different organisers. We have applied a discount of 50% for sponsoring an entire events series (rather than a one-off event), as all organisers prefer long-term partnerships and encourage them with such discounts. It is also the primary reason why we have decided to do this treasury proposal rather than go through the Events Bounty, which only supports one-off events.

Please also note that the amount between line items in this table may shift, depending on actual costs, so long as the total of $1m is not exceeded. A key variable in this budget is the number of events we will organise. We propose 20 events throughout the fundraising period of two years. However, it may end up being 15 or 25, depending on the actual costs of the initial events.

This means, we will continue organising the fundraising events, until this budget is used up. We believe that this approach is well aligned with the interests of the treasury: The more events we are able to organise, the more commitments into the fund we are likely to get, and the more capital we will have available to invest back into the Polkadot ecosystem.

![](https://i.ibb.co/pn5tnd5/Screenshot-2024-05-10-at-10-58-59-AM.png)

**Continue Reading**

The above is just the short summary. To read the proposal in full, including graphics and additional links please click [here](https://docs.google.com/document/d/1s-QBE6GYZh917bQC-b9GV2ffCVWkgwxRqks-uTiGQ5s/edit?usp=sharing).

Harbour Industrial Capital seeks a marketing budget of $1 million to raise a second Polkadot Ecosystem Fund of $100 million. The budget will be spent on sponsoring around 20 Family Office summits/traditional investment conferences to attract non-crypto native investors. The proposal includes a detailed budget breakdown, and the events will be organized until the budget is used up. The aim is to make Polkadot the go-to place for great builders to access capital.

Marketing support to help raise a new  US$100 Million Polkadot Ecosystem Fund

The Polkadot Community Foundation is a proposed organization that aims to represent Polkadot tokenholder interests off-chain. It will be incorporated in the Cayman Islands and directed by DOT holders through Polkadot OpenGov. The Foundation will carry out activities delegated to it by OpenGov proposals, allowing Polkadot governance to manage off-chain assets, enter into legal contracts, make fiat payments, engage service providers, diversify the treasury, enforce IP, and expand the ways in which the treasury can be used to benefit the ecosystem. The proposal requests funding to incorporate the foundation and operate it for one year.

The Foundation will have a supervisor and a five-member Board of Directors, with two seats reserved for future directors to be appointed by Polkadot governance. The Foundation's bylaws ensure special voting rights and protections for DOT tokenholders, including the ability to withhold future funding, delegate specific activities to the Foundation, and vote to remove the supervisor or directors who are not serving appropriately.

The requested budget for the establishment and one year of base operations of the Foundation is $600,000. The funds will be released to a "transition team" multisig, and once the Foundation is established, the funds will be released from the transition team to the Foundation's control.

Executed

treasurer

Proposal: Establish the Polkadot Community Foundation to represent DOT holders IRL

- A developer named Ajay Dhore gave up his unused package name "polkadot_api" for the Polkadot team to use.
- The Polkadot team wants to thank Ajay for his kindness.
- They are proposing a tip for Ajay through OpenGov to show appreciation.
- Ajay was asked to share his Polkadot address on his GitHub or LinkedIn profile.
- He hasn’t responded yet, but the team shared a screenshot of their chat where he provided his address.
- The address is in a special format called ss58-42.

small_tipper

WHO: Polkadot-API team

WHAT: Proposing an OpenGov tip to appreciate Ajay Dhore for relinquishing his unused package name `polkadot_api` for their use.

PRICE/TIMEFRAME/RESOURCES: Not specified.

Tip Ajay Dhore for transferring the polkadot_api npm package

- Polkadot Insider is a platform that teaches people about Polkadot.
- It focuses on being consistent, simple, and professional.
- They share information on Twitter, YouTube, and GrillApp.
- They want to keep working for the next 52 weeks.
- They create lots of infographics and videos about Polkadot.
- They also help organize events and conferences.
- They are improving their video quality and adding more content.
- They thank the community for support and want to keep helping Polkadot grow.

medium_spender

Polkadot Insider proposes to continue operating for the next 52 weeks, prioritizing consistency, simplicity, and professionalism. They provide educational content on Polkadot through various media channels and have a breakdown of operation costs and plans. They report their accomplishments and metrics regularly and offer support for exclusive projects. They have faced some challenges with video production but plan to make up for it with additional infographics and videos. They have been a trusted partner for IRL conferences/events and highlight different KOLs, influencers, and PR publishers.

Polkadot Insider 52 weeks Operation (May 2024 - May 2025)

### Summary of the Proposal

- **Proposal**: Translation of the Polkadot Wiki into Hungarian.
- **Proponent**: Polkadot Hungary Community.
- **Beneficiary**: Mildzsu, a Polkadot Ambassador Candidate.
- **Objective**: To make blockchain technology more accessible to the Hungarian community by translating educational materials.
- **Current Milestone**: Translation of the "Explore" section of the Polkadot Wiki.
- **Community Impact**: Expected to foster a more engaged and knowledgeable community in Hungary.
- **Future Plans**: Further translation of other sections based on community feedback and effort required.
- **Funding Request**: 490 DOT for the first milestone.

big_tipper

Polkadot Hungary proposes to translate the Polkadot wiki into Hungarian, starting with the Explore section. The translation will be carried out in consecutive phases, including proofreading and graphic design. The first milestone is estimated to take 6-8 months to complete, with a requested value of 490 DOT. The translated wiki will serve as a valuable resource for both new and existing Polkadot users in Hungary. The finished wiki will be available on polkadothungary.net website, which is under development.

#727 Semi-Retroactive Proposal for the translation of the Polkadot Wiki to Hungarian

Please vote NAY - Wrong preimage

- Key Pictures made a special video called "The Gray Paper Interview" with Dr. Gavin Wood.
- The video is 100 minutes long and talks about JAM and the Gray Paper.
- It was released during Token 2049 in Dubai.
- The Kusamarian is helping share and promote the video.
- Key Pictures spent extra money on editing, graphics, and music for the video.
- They are asking for $3,800 to cover these costs.
- Future videos like "Web3Thinkers" and "Web3Builders" will be paid for by The Kusamarian.

Key Pictures requests retrospective funding of $3800 for the post-production costs of the one-off special video "The Gray Paper Interview" featuring Dr. Gavin Wood. The costs include 4 days of editing, online/colour grading/audio mix, graphics creation, and music licensing. The funding will cover the additional costs not covered by the medium spend #415.

'The Gray Paper Interview' Retrospective Funding for Post-Production

REJECT 

- Sasha has been working on Polkadot smart contracts for several years.
- The project aims to make Polkadot smart contracts work with Ethereum tools.
- A proof of concept and early prototype have been completed.
- The next step is to make the project ready for a testnet.
- The project is being tested on an experimental parachain called Yerba Network.
- The goal is to allow Ethereum apps to work on Polkadot without changing their front-end.
- The project is different from Frontier, which makes Polkadot more like Ethereum.
- The project is discussed on the Polkadot Forum for community feedback.

small_spender

WHO: Sasha, ink! core team member at Parity Technologies and independent Rank-II member of the Polkadot Fellowship.

WHAT: Proposal to evolve the ethink! project towards a testnet-ready state, making it easier for developers to deal with Ethereum ABI-encoded data.

PRICE/TIMEFRAME/RESOURCES: Not specified.

ink! + Ethereum RPC = ethink!. Proposal-02: Getting Testnet-Ready.

This proposal asks to create a connection between AssetHub (ParaID 1000) and SORA Polkadot Network (ParaID 2025). This connection will help make the Polkadot ecosystem better by letting more people use it. It will also let people trade different types of assets on the Polkaswap exchange. This is a good idea because it will make the Polkadot network more connected and strong. We want everyone to support this idea to make the Polkadot network even better.

general_admin

This proposal hereby requests to open a bi-directional channel between AssetHub (ParaID 1000) and SORA Polkadot Network (ParaID 2025) Opening an HRMP channel between the Polkadot Asset Hub and SORA Polkadot Network represents a strategic step towards enhancing the capabilities and reach of the Polkadot ecosystem, additionally, Polkadot community meme assets will be available on the Polkaswap decentralised exchange, along with other assets already available in the Asset Hub. This move not only facilitates broader interoperability and economic synergy but also underscores our commitment to fostering a secure, innovative, and community-driven blockchain environment. We invite the community and stakeholders to support this proposal, paving the way for a more interconnected and robust Polkadot network.

WHO: The proposal is made by an unknown entity.

WHAT: Requesting to open a bi-directional channel between AssetHub (ParaID 1000) and SORA Polkadot Network (ParaID 2025) to enhance the capabilities and reach of the Polkadot ecosystem.

PRICE/TIMEFRAME/RESOURCES: No information provided.

Open HRMP channels between AssetHub and SORA

- A video game streamer promoted Polkadot for a month in March 2024.
- He used a bright LED Polkadot sign during his streams.
- The campaign reached over 3.4 million views on TikTok, Twitch, and Discord.
- Most viewers were under 35 years old.
- The streamer streamed for 101 hours with 800 viewers on average per stream.
- He asked for $4126 as payment for his efforts.
- The proposal includes links to his social media accounts and campaign details.

WHO: Polkadot community

WHAT: Retroactive payment of $4126 (596 DOT @ EMA7) to a video game streamer who promoted Polkadot to his large, youthful audience during a month-long campaign, resulting in over 3.4 million combined video and stream views.

PRICE/TIMEFRAME/RESOURCES: Not specified.

TIP: Gamer Streaming Reimbursement

Mandala Chain has proposed a campaign to increase Polkadot's awareness and user engagement in Asia, particularly in Indonesia and Australia. The campaign aims to maximize Polkadot's brand recognition and mission in the Web3 space, increase user onboarding, and channel the growth of the Asian crypto market towards the expansion of the Polkadot ecosystem. The campaign includes several objectives and events:

1. Polkadot's title sponsorship of Coinfest Asia 2024, a major international crypto festival in Bali, Indonesia.
2. Showcase Mandala Chain, the first Polkadot parachain in Indonesia, and its unique projects with the government and businesses.
3. Showcase the Polkadot SDK, Polkadot Hub, and Bali Blockchain Centre through the Bali Blockchain Summit event and Polkadot Championship Hackathon.
4. Drive direct user onboarding at the events through interactive experiences, showcases, and dedicated support.
5. Position Polkadot as the technology partner of choice in Indonesia's national digital transformation roadmap, Digital Indonesia Vision 2045.
6. Attract investors and expose Polkadot parachains and related products to funding opportunities through exclusive VC networking.
7. Create content highlighting the growing enthusiasm for Polkadot in Indonesia and Southeast Asia, including Australia.

The campaign includes four key events:

1. Polkadot Championship Hackathon (100 developers from Asia)
2. Bali Blockchain Summit (500 curated attendees)
3. Coinfest Asia 2024 (6000-7000 attendees)
4. VIP Investor Dinner (50 curated investors and VIPs)

The requested budget for the campaign is $295,000 USDT in DOT equivalent, based on the 7-day average rate when submitting the proposal.

Proponent: Mandala Chain

Beneficiary (Multisig): 166EpYwUWjEEiFkmRfouLz6V6qucoAsSfBvFYxV8R3CwY4eG

Date: 23 April 2024

Requested amount: $295,000 USDT in DOT equivalent, with the DOT allocation calculated based on the 7-day average rate when submitting the proposal as a single payment for parallel efforts in different areas in preparation for the event.

**Problem Statement**

According to Chainalysis's 2022 and 2023 Global Crypto Adoption Index, many Asian countries are among the top 10 performers in the world and have plenty of further growth potential. Yet, in this dynamic landscape of the Asian crypto market, the adoption of Polkadot faces critical challenges and fierce competition. Despite the region's increasing interest in digital assets, the awareness and utilization of the Polkadot ecosystem remain surprisingly low.

**Goal and Objectives**

This campaign, spearheaded by the Mandala Chain team, aims to maximize awareness about the Polkadot brand and mission in the Web3 space in Indonesia (the fourth most populous country in the world) and across Asia. The campaign's reach includes Australia, where we have a strong partnership via an MOU with the Western Australia Web3 Organization and Perth City Council. Beyond awareness, this campaign will increase user onboarding and engagement so that the growth of the Asian crypto market is channeled towards the expansion of the Polkadot global ecosystem.

We will achieve this through the following objectives:

1.  Polkadot’s Title sponsorship of Coinfest Asia 2024, one of the biggest international crypto festivals that will be advertised throughout August 2024 around Bali via billboards on streets and main buildings. Title Sponsorship includes the highest level of visibility at the event, brand exposure on digital and offline media, a large booth and dedicated area for networking and user onboarding, keynote and panel sessions on the main stage.
2.  Showcase Mandala Chain, the first Polkadot parachain in Indonesia adopting the Polkadot SDK and with unique PoC projects with government and businesses.
3.  Showcase the Polkadot SDK, the Polkadot Hub, and the Bali Blockchain Centre via the Bali Blockchain Summit event and Polkadot Championship Hackathon
4.  Drive direct user onboarding at the above events through interactive experiences, showcases, and dedicated support
5.  Position Polkadot as the technology partner of choice in the Indonesian government’s national digital transformation roadmap called Digital Indonesia Vision 2045 which includes blockchain as an integral component of this plan.
6.  Attract investors via tangible demonstration of Polkadot’s technology and ecosystem, and expose Polkadot parachains and Polkadot-related products to funding opportunities via exclusive VC networking organized by Connected Capital
7.  Create content for owned channels that highlight the excitement and growing enthusiasm for Polkadot in Indonesia and Southeast Asia including Australia

Other key points highlighting Indonesia’s unique position to rapidly scale the Polkadot ecosystem globally:

-   Unlike the aging population structure in Europe and the US, Indonesia can be a fertile ground to build the next generation of blockchain developers with its population’s median age of around 17 years
-   The Indonesian economy is the largest in Southeast Asia and 10th largest globally in terms of purchasing power parity
-   Indonesia’s newly elected vice-president Gibran Rakabuming Raka has promised a push to strengthen the country’s talent in blockchain and crypto to provide more opportunities for its youth
-   Indonesia held the G20 presidency recently in 2022 and held the ASEAN chairmanship in 2023, showcasing leadership in representing developing nations’ interests.

**Events Description**

The program of events in this proposal has been thoughtfully designed to be high-impact and highly efficient in terms of marketing exposure, ecosystem activation, community engagement, general public onboarding and post-event follow up and follow through. This program combines 4 highly visible and engaging events across 4 days, 2 main venues, plus the online segment of a hackathon leading up to these main events. The events target a diverse and highly relevant audience and partners from parachains, developers, investors, businesses, government, academia, crypto natives from other L1's, and highly receptive crypto curious and enthusiasts.

Specifically, the event descriptions and attendance profiles are as follows:

1.  Polkadot Championship hackathon, 19-20 August: - 100 developers from Asia, including special invitation to Australian participants, joining this successful hackathon format in its first Asian edition
    
    -   The online segment of this hackathon will start in July
2.  Bali Blockchain Summit, 20 August: - A business and government networking and strategy discussion event in support of the Indonesian government's Digital Indonesia Vision 2045 plan, which includes blockchain technology as an integral part of the roadmap
    
    -   500 curated attendees representing parachains, businesses, Indonesian government representatives, academia, investors, and VIPs. Australian government representatives will also be invited via our partnership with the Western Australia Web3 Organization, Perth City Council.
    -   During this event, we will position Polkadot Blockchain technology and Mandala Chain as integral parties in advancing the Digital Indonesia Vision 2045.
    -   At the same venue as the above hackathon awards day, attendees will experience firsthand the vibrant Polkadot community and technology, as well as attend talks about Polkadot technology for business and government in Indonesia and beyond.
    -   We will have booths, staffed demo stations and dedicated representatives to assist with user onboarding into the Polkadot community.
3.  Coinfest Asia 2024, 22-23 August: - Polkadot Title Sponsorship at this festival, which is the premier event of Indonesia’s annual blockchain calendar and highly popular around Asia.
    
    -   6000-7000 attendees from around the world comprising founders, C-suite executives, software developers, policymakers, investors, and crypto-curious general public.
    -   Title Sponsorship includes the highest level of visibility, a dedicated area for networking, a Title booth, keynote and panel on the main stage, front-end brand exposure on digital and offline media, 15 event tickets and a 50% discount for more, accommodation and transportation.
    -   Beyond brand exposure and public visibility, we will facilitate parachains to shine under the Polkadot banner and have manned stations to onboard attendees into the Polkadot ecosystem.
4.  VIP Investor Dinner, 24 August: - 50 curated and qualified investors and VIPs who will benefit the Polkadot ecosystem and parachains with their investment and strategic partnerships.
    
    -   This will be an intimate venue, away from the crowds, that is more conducive to discussions and relationship building.

The visual timeline of these events is as follows:

![Timeline](https://i.ibb.co/RS76LzC/Screenshot-2024-04-23-at-4-47-00-PM.png)

**Budget**

![Budget](https://i.ibb.co/CmW16bP/Screenshot-2024-04-23-at-4-47-18-PM.png)

Welcome to review the full proposal **[here](https://docs.google.com/document/d/1njts0n74IJ3MMGwcCXyzaW1WLARHF4vjo4FvQNELaJE/edit?usp=sharing "Polkadot @ Coinfest Asia 2024 ")**.

WHO: Mandala Chain
WHAT: Maximize awareness of Polkadot brand and mission in Indonesia and Asia, increase user onboarding and engagement, position Polkadot as technology partner of choice in Indonesian government's national digital transformation roadmap, attract investors, create content for owned channels
PRICE/TIMEFRAME/RESOURCES: $295,000 USDT in DOT equivalent, single payment for parallel efforts in different areas, events to be held in August 2024, targeting diverse audience and partners from parachains, developers, investors, businesses, government, academia, and crypto enthusiasts.

Polkadot @ Coinfest Asia 2024

- A group asked for $390,000 for an event called Polkadot @ Coindesk Consensus.
- They used a 7-Day TWAP of $10.02 and got 38,921.48 DOT on March 20th.
- Due to price changes, they are $100,000 short.
- They sold the DOT they received for $288,904.78.
- The total cost of the event is $390,000.
- They are asking for an extra $101,095.22 using a 7-Day TWAP of $7.08 and 14,278.99 DOT.
- A link to the proposal and receipts for the sold DOT are provided.

WHO: Distractive Crew
WHAT: Requesting $101,095.22 to cover costs for Polkadot's Consensus event
PRICE/TIMEFRAME/RESOURCES: 7 Day TWAP of $7.08, 14,278.99 DOT requested

Top Up for Polkadot at Consensus 

- **Problem**: The Polkadot treasury funds projects using DOT cryptocurrency, but DOT's price changes a lot. This makes it hard for projects to know how much money they will get in USD.
- **Solution**: Create an Insurance Fund to help projects get the right amount of money, even if DOT's price goes up or down.
  - If DOT's price goes down, the fund gives more DOT to projects to make up for the loss.
  - If DOT's price goes up, the fund takes back extra DOT to keep things fair.
- **Team**: The fund will have a director, curators, a treasurer, and signers to manage the money and make sure everything is done correctly.
- **Money Needed**: The fund needs 1 million DOT to start and will help projects affected by price changes since April 1st.
- **Reports**: The fund will share updates every two months to show how it’s doing and keep everything transparent.
- **Goal**: Make sure projects get the money they need, even when the market is unstable.

Polkadot proposes a Treasury Insurance Fund to stabilize the USD value received by projects funded by the Polkadot treasury, compensating for DOT price fluctuations. The fund will provide additional DOT to projects if the cryptocurrency's value decreases and retrieve excess DOT if its value increases. The fund will be managed by a Director, three Curators, a Treasurer/Accountant, and two Signers, with compensation ranging from $500 to $2,000 per month. The initial funding request is for 1 million DOT, with bi-monthly reports detailing the fund's activities and financial movements. The fund will ensure projects receive the full intended value of their funding, despite market conditions.

Establishing an Insurance Bounty to increase fiscal efficiency of Polkadot treasury

SmallTipper

- LAOS Network won Auction #68 with a self-funded bid, so the petition is no longer needed.
- LAOS started a Crowdloan for parachain Auction #68 on April 20, 2024.
- The Crowdloan had almost 100 participants and received 92,477 DOT from 321 contributors.
- A problem occurred: Auction #68 didn’t recognize the Crowdloan contributions.
- The issue can be fixed by changing the **first_period** from **16** to **17**.
- If not fixed, contributions won’t count for Auctions #68 to #73, and funds will be returned.
- LAOS tested the fix on their Rococo testing network, and it worked.
- They apologized for the oversight and hope the fix is considered safe and neutral.

TimedOut

whitelisted_caller

LAOS Network started a Crowdloan for parachain #3370 to compete in Auction #68, but contributions were not recognized. Proposal to fix by incrementing first_period from 16 to 17. Crowdloan already has 92,477 DOT from 321 participants. If fixed within a month, contributions will make it in time for the last 3 auctions.

Proposal Outdated - Do Not Vote: LAOS already won Auction 68 with SF Bid

- **Recipient**: Fardeen Haque
- **Work**: Contributed to the Awesome Dot GitHub repository and website.
- **Tip Amount**: 35.5 DOT (approximately $250 at EMA7 price of $7.046).
- **Purpose**: Symbolic thank you for quick responses to fixes and format improvements.
- **Future Vision**: Encourages the growth of the project into a more sophisticated knowledge base.
- **Non-Voting**: The tipper, kukabi, is not voting due to DV delegation.
- **Contact**: Fardeen Haque's Element username is `@fardeen_haque:matrix.org`.
- **Note**: The tip is not intended to compensate for Fardeen's work but to symbolically thank and encourage continued effort.

WHO: kukabi | Helikon
WHAT: Tip request for Fardeen Haque for his work on the Awesome Dot GitHub repository and website.
PRICE/TIMEFRAME/RESOURCES: 35.5 DOT, roughly $250 at EMA7 ($7.046), a symbolic thank you for his efforts.

Tip Request for Fardeen Haque for Awesome Dot

### Summary

- **Interlay** is a key Bitcoin bridge and DeFi hub in the Polkadot ecosystem.
- **iBTC** is in high demand but there is no spare capacity to mint more.
- Interlay plans to add new lending markets and vault collaterals to increase iBTC capacity.
- The Polkadot Treasury is being asked to support incentivizing 45 iBTC with a grant of 202,030 DOT.
- This would help meet the growing demand for iBTC from DEXs and money markets.
- The proposal aims to boost vault rewards to attract more collateral and increase iBTC capacity.
- If approved, the DOT grant would be staked and converted to INTR to incentivize vault operators.

Interlay seeks Polkadot Treasury support to incentivize 45 iBTC with a grant of 202,030 DOT. The grant will be used to increase the collateral capacity to mint more iBTC as part of the broader Polkadot DeFi liquidity campaign. The cost to incentivize vault capacity for 45 more iBTC is $1.56M. The granted DOT would be immediately staked as vDOT so that it appreciates with staking rewards throughout the year, further increasing the total value paid out to vault operators.

Incentivize Interlay iBTC capacity as Polkadot common good

VOTE NO - DUPLICATE

**Summary:**

- Users can nominate projects with their DOT tokens.
- Nominated projects receive funding from a constant stream of DOT taken from inflation.
- Funding is distributed based on the proportion of DOT used to nominate each project.
- Full details are available in a Google Docs document or an IPFS-saved PDF.
- There is a Telegram discussion group for this proposal: @parachainstaking.

wish_for_change

**WHO:** Parachainstaking

**WHAT:** Allow users to nominate whitelisted projects with DOT, funded by a constant stream of DOT taken from inflation and distributed to projects based on the proportion of DOT that has nominated them.

**PRICE/TIMEFRAME/RESOURCES:** Not specified.

Implement Optimistic Project Funding

- Glazescape organized PolkadotPrague 2023, a successful event for the Polkadot community.  
- They spent money on marketing, like ads and PR, to make the event popular.  
- The Events Bounty didn’t cover these costs, so they need help from the Polkadot Treasury.  
- They are asking for $5,162 to pay for the marketing they already did.  
- This funding will help future events and show support for the Polkadot community.  
- The full proposal and event report are available for more details.

Glazescape seeks retroactive funding from the Polkadot Treasury to cover marketing costs for PolkadotPrague 2023, for $5,162, to ensure the sustainability of future events. The Events Bounty did not cover these costs, placing a financial burden on the organizing team. The proposal aims to secure the necessary funds to strengthen the relationship between the Treasury and the community.

Retroactive Funding Request for PolkadotPrague 2023 Marketing Costs

- The first book about NFTs on the Polkadot blockchain was created.
- It explains what NFTs are, their history, and how they work on Polkadot.
- The book teaches how to create, buy, and sell NFTs.
- It includes information about NFT marketplaces and use cases.
- The book has links to web3 projects, images, and QR codes for videos.
- The author wants to give these books as gifts to schools and universities in Chile and Latin America.
- The project budget is 1000 DOT.
- Printed copies of the book are already being shared to spark curiosity.

WHO: The proposer.

WHAT: Publish the first book on NFT in Polkadot, explaining what NFTs are, their history, characteristics, standards, creation, buying, selling, marketplaces, use cases, and web3 projects.

PRICE/TIMEFRAME/RESOURCES: The budget corresponds to 1000 DOT. The proposer wants to give the books as gifts in Chile and Latin America, in schools and universities. The complete proposal has the details.

NFT in Polkadot, the first book on NFTs in the Polkadot ecosystem.

- Gossamer is a project built using Go to help the Polkadot network.
- It works as a full node and a validator node to make the network stronger.
- Created by ChainSafe Systems, a company that works on blockchain technology.
- The team is asking for support to continue developing Gossamer for the next 12 months.
- Goals include making the full node more reliable and adding validator node features.
- They plan to test and run nodes on the Polkadot testnet.
- The team is requesting 368,016 DOT to fund this work.
- You can contact them at gossamer@chainsafe.io for more information.

WHO: ChainSafe Systems

WHAT: Continue supporting Gossamer development for the next 12 months, achieving full node and validator node capabilities, and discovering its potential and value within the Go development ecosystem.

PRICE: 368,016 DOT

TIMEFRAME: Q2/Q3/Q4 2024 and Q1/Q2 2025

Ongoing Development of Gossamer (16 months)

### Polkadot Fellowship `spend()` Extrinsic

- **New Feature**: Introduced in Polkadot Runtime 1.1.
- **Purpose**: Allows multi-asset Treasury spends (e.g., DOT, USDT, USDC) from AssetHub.
- **Benefits**:
  - Instant payments instead of waiting 24 days.
  - Pay proposers in USD to avoid exchange rate risk.
  - Set up monthly payment plans and cancel scheduled payments.
- **Test Proposal**: Aimed to tip Alice and Bob 69 USDT on AssetHub.
- **Challenges**: Initial instructions had errors, leading to a failed proposal.
- **Amount**: 69 USDT (69,000,000 with 6 decimals).
- **Beneficiary**: Polkalytics, the company account of Alice and Bob.
- **Status**: First-time testing in production; potential for further errors.

The Polkadot Fellowship proposes to test the new `spend()` extrinsic that supports multi-asset Treasury spends from an XCM multi-location to be paid out at a specific block. The proposal aims to raise awareness and test the extrinsic by tipping Alice and Bob 69 USDT on AssetHub. The suggested amount is 69 USDT, and the beneficiary is Polkalytics.

Test the brand-new spend() extrinsic

Wrong preimage - Please vote NAY

root

staking_admin

lease_admin

fellowship_admin

auction_admin

referendum_canceller

referendum_killer

OpenGov Referenda

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.

OpenGov Referenda

Referenda Tracks