### 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.

Rejected

big_spender

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

TimedOut

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.

Executed

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.

big_tipper

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.

small_tipper

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

Inflation is too high, which stops new people from joining. A solution is to have a fixed supply and use a certain percentage of what's left as inflation. The total maximum supply could be 2.1 billion, which is related to Bitcoin. If we have 1.4 billion tokens now, that means we have 700 million left to use as rewards. A good number for inflation could be 10% of what's left. So, in the first year, the staking rewards distributed will be 70 million (10% of what's left). In the next year, only 63 million will be distributed because only 630 million will be left. This way, we never run out of tokens, and the amount distributed always gets less. This might make Polkadot more appealing to people.

WHO: Proposal author

WHAT: Proposing a fixed supply and using a certain percentage of leftover tokens as inflation for staking rewards in Polkadot

PRICE/TIMEFRAME/RESOURCES: Not specified

Reducing inflation - VOTE NAY

- **Current Spending Periods**: Currently set at 24 days, these periods cause delays in funding.
- **Referendum Process**: It takes up to 28 days for a referendum to pass.
- **Confirmation Time**: An additional 7 days are needed for confirmation.
- **Cumulative Delay**: If confirmation ends on the first day of a new spending period, another 24 days are required, totaling up to 2 months.
- **Arbitrary Duration**: The 24-day period is considered arbitrary and problematic.
- **Proposal for Change**: Suggest reducing the spending period to the shortest possible time, ideally one day or one week if technically feasible.
- **Purpose of Change**: The shorter the period, the less uncertainty and quicker the funding process.

Proposal: **Reduce spending period to shortest possible time, ideally 1 day, or max 1 week, to avoid 2-month wait for funds.** Current 24-day period causes unnecessary uncertainty. Timeframe/resources not specified.

Reducing duration of spending periods

- The Polkadot EVM Collective is a group that works on everything related to EVM (Ethereum Virtual Machine) on Polkadot.
- It has four main goals: standardizing EVM changes, making development transparent, creating a roadmap, and providing expert advice.
- Members are ranked as Junior or Senior, and their roles define their responsibilities, like maintaining projects or editing documents.
- The collective uses a flat ranking system, meaning ranks only affect voting power, not other benefits.
- Members must stay active by participating in regular checks, or they lose voting rights and roles.
- The collective plans to have its own salary and treasury system, but funding will be decided by Polkadot referendums.
- Small collectives are preferred over one big group because they are faster, clearer, and easier to manage.

WHO: Polkadot EVM Collective
WHAT: On-chain technical collective for EVM standardization, development and maintenance, creating an inclusive roadmap, and providing expert opinions
PRICE/TIMEFRAME/RESOURCES: Salary and sub-treasury system for future use with values set to 0, any increase or funding only done through Polkadot referendums. Inactivity check utilized to ensure active members, with ranks and roles defining voting power and responsibilities. Seeding members subject to final vote of a root referendum. Small collectives deemed more effective for carrying out tasks. Flat ranking system with two ranks and separate concept of roles to define responsibilities.

Approve the Polkadot EVM Collective

- Encode Club is sharing a plan for 2024 to help the Polkadot ecosystem grow.
- They have 3 years of experience and want to attract new developers and support current ones.
- Their past successes include hackathons, workshops, and helping projects get funding.
- The 2024 plan includes educational programs, hackathons, and events to support talent.
- They are asking for $385,000 in funding, split into three parts over six months.
- More details about their past work and future plans are in their proposal and presentation.
- They are excited to continue working with the Polkadot community to make a big impact.

medium_spender

WHO: Encode Club
WHAT: Introducing a comprehensive year-long programme designed to attract new developers, support the current ones, guide mature projects towards creating significant startups and foster new talent in the ecosystem.
PRICE/TIMEFRAME/RESOURCES: Requesting funding of $385k split across 3 tranches of $128,333 in DOT (17,898.60 DOT based on Subscan MA of 7.17) immediately (July 2024), after 3 months (October 2024) and after 6 months (January 2025).

Elevating the Polkadot Ecosystem: Encode x Polkadot Programme 2024 

Delegations are a good idea for some decisions, but not for very important ones. Some tracks, like Root, Wish for Change, and Treasurer, are too important to trust others with. This is because they can change the rules a lot or spend all the money. It's like how you can trust someone to sign a paper for you, but not for big life events like marriage or divorce. We should be careful with who we trust for these important decisions to keep the system safe. This idea is not just for one group, but for all important choices.

Proposal: Do not allow delegations on vital tracks (root, wish for change, treasurer) to protect system integrity. Delegation is good but risky for extreme importance. No specific target. No price/timeframe/resources mentioned.

Restrict delegations on root and treasurer tracks

- Some important decisions in a system should not be delegated to others.
- The Root track, Wish for Change track, and Treasurer track are very important and should not be delegated.
- Delegation is good for less important tasks but risky for critical ones.
- Important decisions, like marriage or divorce, should not be handled by someone else.
- This is to protect the system and make sure important decisions are made carefully.
- It’s not about targeting anyone, but about keeping the system safe.

root

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

### BlockDeep Labs Summary

- **Background**: BlockDeep Labs is a spin-off from Parity's solution engineering team, with over 5 years of experience in Substrate-based chain implementation.
- **Grant**: Secured a grant from the Web3 Foundation to deliver the Mythos Parachain.
- **Problem**: New teams in the Polkadot ecosystem lack high-quality support due to the decentralization of Parity's go-to-market functions and the scaling down of the Substrate Builders Program.
- **Proposal**: Expansion of service offerings to foster Polkadot ecosystem growth, including coretime usage-based technical support, Substrate code reviews, Polkadot release analysis, and a delivery partners program.
- **Coretime Usage Support**: Offers free access to engineering resources based on coretime usage, aiming to gamify and educate about coretime concepts.
- **Substrate Code Reviews**: Provides detailed technical feedback and support to builder teams, aiming to maintain high-quality standards in the ecosystem.
- **Polkadot Release Analysis**: Reestablishes detailed analysis of Polkadot releases to enhance visibility of breaking changes.
- **Delivery Partners Program**: Trains and accredits Substrate engineering companies, enhancing Polkadot's visibility and ecosystem support.
- **Team**: Led by Gautam Dhameja, with experienced Substrate engineers and a project manager.
- **Budget**: Requests $577,745 (81,718 DOT) for 6 months to deliver these services.

WHO: BlockDeep Labs, a spin-out of the former solution engineering team at Parity.

WHAT: Proposes to offer technical support and advisory services to Polkadot ecosystem teams, including coretime usage-based support services, Substrate code reviews, Polkadot release analysis, and delivery partners program.

PRICE/TIMEFRAME/RESOURCES: The proposal requests funding of 81,718 DOT for a 6-month period from June 1, 2024, to November 30, 2024, with a total budget of USD 577,745 (including VAT). The budget includes costs for code reviews, release analysis, coretime-based support, on-chain badging system, ecosystem services coordination, and entity management.

BlockDeep Labs: Ecosystem Services Proposal for Polkadot Treasury

- The Polkadot Ecology Research Institute is a group that studies and supports the Polkadot ecosystem, especially in Asia.
- They have been helping Polkadot since 2019 and have received support from the Polkadot treasury 7 times.
- They write articles about Polkadot, which have been read over 60 million times.
- They have helped organize more than 70 Polkadot events and supported over 110 Polkadot projects.
- They also help projects connect with investors and provide free support to global Polkadot projects.
- They are asking for funding to cover their daily costs for the next year.
- They published a detailed report on Polkadot’s future, which is very popular in Asia.
- This is their 8th time asking for funding from the Polkadot treasury.

WHO: Polkadot Ecology Research Institute

WHAT: Applying for 12 months of operational funding for personnel expenses to cover day-to-day operational costs of the institute.

PRICE/TIMEFRAME/RESOURCES: Not specified.

The operating cost for the research organization Polkadot Ecology Research Institute for 2024/4-2025/3

- This is a plan to use treasury funds for a big Web3 event in Spain called Merge Madrid.
- The event bounty system is too slow for this big plan.
- The Spanish Bounty has a limit that is too small for this event.
- Merge Madrid is a 3-day event for 4000 people.
- Polkadot will have a VIP dinner, a booth, and time to speak on stage.
- The goal is to tell more people in Spain about Polkadot.
- It helps Polkadot connect with businesses, developers, and the community.

Polkadot proposes to sponsor and participate in Merge Madrid, the most important Web3 event in Spain, attracting 4000 attendees. The event will span 3 days, and Polkadot will have a 12m2 booth, a 15-minute presentation on the Main Stage, 2 speaker allocations on the main stage, 30 minutes of workshop, a sponsored session on the main stage, and brand visibility at the national and international levels. The proposal is being presented through the treasury due to the complexity of the proposal, the commitment of the team with the event, and the need for a quick response. No specific price, timeframe, or resources are mentioned in the summary.

Sponsorship and Side Event: Merge Madrid

Polkadot Decoded Asia is a big event happening on September 16-17, 2024, in Singapore. It is a part of the Singapore Token 2049 week. The event is for people who are interested in Polkadot and want to learn more about it. It will have many activities like presentations, exhibitions, and social gatherings.

The event is important because it brings people from different countries in Asia together to talk about Polkadot and its growth. It also helps people who cannot travel to Europe for the main event in Brussels, Belgium. The event will be in Chinese and English.

The person who proposed this event is Aitijia'er, a company in China that has organized big Polkadot events before. They asked for $328,053.04 (54,121DOT) to make this event happen.

The event will have many things to do, like listening to people talk about Polkadot, watching demonstrations, and meeting new people. There will also be a job fair for people who want to work with Polkadot.

The event is free for everyone who wants to join, and they will give out free NFTs as proof of attendance. They will also share a report after the event with all the details about what happened.

In summary, Polkadot Decoded Asia is a big event in Singapore for people who want to learn more about Polkadot and meet others who are interested in it too.

Proposal: 2024 Polkadot Decoded Asia (Singapore) September 16 -17 (During the Singapore Token 2049 week)

Please vote NAY

- Polkadot-API is a project to help developers build decentralized apps.
- It’s built on PolkadotJs but aims to do even more.
- The project focuses on making tools that are easy to use and work well with light clients.
- The team recently shared updates and added a new member, @carlosala.
- They are asking for feedback on a funding proposal to keep the project going.
- You can read more about the proposal in a Google Doc.
- The team includes @Josep, @carlosala, and @voliva.

WHO: Polkadot-API development team

WHAT: Seeking financing for maintenance and development of Polkadot-API through treasury proposals

PRICE/TIMEFRAME/RESOURCES: Details in the google doc provided in the post

Polkadot-API: Apr-Jul development financing

- The `pallet_bridge_grandpa` at Polkadot Bridge Hub is in an inconsistent state due to a bug.
- The bug involves how the GRANDPA light-client handles validator set changes after slashing.
- This bug caused Kusama to Polkadot traffic to get stuck.
- An upgrade is being prepared to fix this issue.
- A Polkadot runtime upgrade (to 1.2.0) is already up for a vote.
- The fix will be applied after the runtime upgrade.
- The proposal to fix the bug is on the Whitelisted Caller track.
- A parallel submission is being voted on by the Fellowship to whitelist the proposal.

whitelisted_caller

WHO: Polkadot Bridge Hub

WHAT: Fixing a bug in the Polkadot-GRANDPA-light-client running BH that causes traffic to be stuck between Kusama and Polkadot.

PRICE/TIMEFRAME/RESOURCES: Not specified.

Polkadot Bridge Hub 1.2.2 upgrade: Unstuck bridge with Kusama

### 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.

Cancelled

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

- A refill of 500k was confirmed yesterday, and another 500k is requested.  
- Marketing bounty funds are empty, and the next spending period is 22 days away.  
- The bounty will run on credit, promising influencers payment later, creating debt.  
- The price of DOT dropped by almost 50% since the last refill.  
- Community feedback shows people prefer transparency over cost savings.  
- Influencers offer discounts if prices are kept private, but the community wants full transparency.  
- Transparency will increase costs by 50% to 100%, but it will show detailed spending.

WHO: The person making the proposal
WHAT: Requesting a refill of 500k for marketing bounty
PRICE/TIMEFRAME/RESOURCES: Not specified

Requesting a refill for marketing bounty number #33

treasurer

vote NAY

- G6 Networks helps governments, banks, and companies use blockchain easily.
- They use Polkadot's technology to connect traditional systems with Web3.
- G6 Networks has created special devices to make private blockchains and connect them securely.
- Their technology includes strong security features like Zero-Knowledge protocols.
- They have already worked with Mandala Chain and have agreements in Indonesia and UAE.
- G6 Networks is asking for $244,200 from the Polkadot Treasury to grow their project.
- They were founded by David Pethes and are part of CCTF DAO, a security auditing company.

G6 Networks seeks funding from the Polkadot Treasury to expand and develop their blockchain infrastructure for governments, banks, and enterprises. They have already brought Mandala Chain, Mosaic Chain, and two MOUs to the Polkadot ecosystem. The requested budget is 244,200 USD, and they aim to simplify complex integration processes through their physical G6 devices, which support private, permissioned, and cross-chain functionalities.

G6 Networks: Polkadot Ecosystem Expansion with Institutions

staking_admin

lease_admin

fellowship_admin

general_admin

auction_admin

referendum_canceller

referendum_killer

small_spender

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