This is a request for extra money to help with a project that was already given money before. The people working on the project had planned how much they would need based on a certain price of a thing called DOT. But when they got the money, the price of DOT had gone down, and they didn't have enough to finish the project well. They are asking for an extra 183.326 USDC to make up for the difference in the price of DOT and keep the project going as planned. They think this extra money will help the project and everyone involved. They are ready to talk more about this request and thank everyone for their support.

_This is a resubmission of [1058](1058) as the multisig was not present on Assethub_

Amount requested: **183.326 USDC**

**Introduction**

We are reaching out to kindly request additional funding to support our [previously funded proposal](663). This request arises from unforeseen market fluctuations that have impacted our budget and jeopardized the quality of our project delivery.

**Background**

In our initial proposal, we based our financial calculations on the DOT price of $8.722 (7-day EMA based on Subscan on April 10, 2024). This figure was instrumental in planning and budgeting for the milestone we set out to achieve.

**Issue Faced**

On the day of award payout, May 8th 2024, the DOT price had dropped to $6.707 (block 20736000 [https://polkadot.subscan.io/referenda\_v2/663?tab=timeline)](https://polkadot.subscan.io/referenda_v2/663?tab=timeline\)) At first, we anticipated this was a temporary pullback and expected a correction back to the $8.5 range. Unfortunately, this correction never occurred, leading to a significant shortfall in our budget.

**Impact on the Project**

The decline in the DOT price has put the quality delivery of our proposed milestones at risk. Without the necessary funds, we face the possibility of compromising on the quality and scope of our deliverables, which we believe is not in the best interest of the community or the project's long-term success.

**Request for Additional Funding**

To mitigate this situation and ensure the successful completion of our project, we are requesting a top-up of **183.326 USDC** (91.663 DOT x 2$ price difference from proposal date to payout date). This additional funding will cover the losses incurred due to the lower-than-expected DOT price and allow us to maintain the high standards we committed to in our original proposal.

**Conclusion**

We understand that fluctuations in the market are an inherent risk. However, we believe that supporting this top-up request will ultimately contribute to the project's success and the broader goals we aim to achieve together. We sincerely appreciate your consideration and support.

**Next Steps**

We are available to discuss this request further and provide any additional information required. Thank you for your understanding and continued support.

WHO: The project team behind a previously funded proposal.

WHAT: Requesting a top-up of 183.326 USDC to cover losses incurred due to lower-than-expected DOT price and ensure the successful completion of their project.

PRICE/TIMEFRAME/RESOURCES: 183.326 USDC, no specific timeframe or resources mentioned.

Top-Up Request for Previously Funded Proposal #663

- The Dots Magazine is a fun project about Polkadot created by two fans in January 2024.
- They use humor to attract people to the Polkadot community.
- The team has gained a lot of attention with over 1,960 followers and millions of impressions.
- They are asking for $38,980 to continue their work for the next six months.
- The money will help pay salaries for their team, promote their content online, and buy tools they need for creating work.
- They want the funds because they are running low on money and need to fix budgeting issues from their first proposal.

**WHO:** The Dots Magazine, Mantra, and John Mental. **WHAT:** Requesting $38,980 USDT for 6 months of operational work to create Polkadot mememedia. **WHEN:** 15th August, 2024.

The Dots Magazine - 2nd proposal 

- A new Polkadot App was introduced at the Polkadot Decoded event in 2024.
- The app is designed to be user-friendly for people new to crypto.
- The Polkadot Community Foundation (PCF) wants the community to own the app's code.
- They are asking for community support to own the app’s source code, which will be open source.
- They need $50,000 to cover costs for legal and administrative work related to the app.
- This money will help set up accounts on Apple and Google stores and manage other needed services.
- The PCF aims to keep the app updated and easily accessible for everyone.

The Polkadot Community Foundation (PCF) proposes to gain community support to own the IP and source code of the Polkadot App, a beginner-friendly mobile wallet for newcomers to crypto and Polkadot. They seek funding of $50k to pay Walkers for legal and administrative fees to sign up, publish and review updates to the Polkadot App over time. The PCF will also administer these accounts to the maintainers.

Polkadot App - PCF IP Rights & Funding for publishing the app

- A proposal was made to compensate for work on smart contract research, but it had an error and needs to be voted on again.
- The research helps the Parity Smart Contract team find the best tools for a new Polkadot VM.
- Two people worked for three days on this project, totaling about $2,400.
- They are asking for $1,900 instead, believing the research is valuable for future developers.
- A full report of the research can be found online.
- The idea for this request came from a talk with someone from the Parity team who agrees it should be paid for.
- The researchers hope the community will appreciate their work and support the proposal.

The proposal requests compensation of 1900 USD for 2 people who spent 3 working days researching solidity smart contract tooling for Polkadot. The value generated is significant for Parity smart contract team and future Polkadot tooling. The full report can be found in the provided link. The proposal has been inspired by the discussion with Alex from Parity smart contract team.

(Already passed as 1072, but didn't execute) Solidity smart contract tooling - research for AssetHub/Plaza

- Someone said to give a tip about a problem.
- They looked into a project called "Polkadot."
- They talked to many people to see if anyone knew a person named Michiko.
- There was a worry that if they were wrong, it could hurt the reputation of the group.
- By checking everything, they helped stop a scammer from taking $10,000 every month.

Leemo proposes a tip for identifying a potential scammer in the Polkadot ecosystem, which prevented the Treasury from paying $10,000 per month. No specific WHO, WHAT, price, timeframe, or resources mentioned.

Tip for exposing Michiko Watanabe

- Integritee is a company that works with privacy technology on a special platform called a sidechain.
- They have made changes to their request for money after getting feedback.
- Integritee is asking for about 39,680 CHF (which is about 44,302.72 USD) for their project.
- They plan to repay this amount by sending back 30% of the money they earn from fees.
- Their technology is already working and can be tried out by anyone.
- The company’s leaders have given talks about why privacy is important in technology.
- They have made videos explaining their work and past proposals.

Integritee proposes a retroactive funding of 39,680 CHF (≃ 44,302.72 USD/USDT) as a soft-loan, to be repaid with 30% of gross fee revenue until the loan plus a one-off premium of 10% is paid back. This is for the development of their privacy sidechain technology on Paseo.

Incognitee: Privacy Sidechain on Paseo (Retroactive)

This TIP is asking for money for creating a special interview guide. The guide helps people choose the best person for an important job called Head Ambassador. It took 4 hours to make and they want to be paid $50 for each hour. They collected questions from different groups and made a helpful document for everyone. They think it's worth at least $200 and hope others agree.

This TIP is a request for compensation for time spent writing: https://hackmd.io/@T6Wf5EsOQKe-6wyPjJPtuw/S1UVpQ0BA This standardized interview guide aims to provide a comprehensive and fair assessment of each candidate's qualifications and suitability for the Head Ambassador role. The document is open for anyone to add a question they think it is relevant. It took around 4 hours (2 people each 2 hours) to create, the document for which we are asking $50 per hour. Time was spend gatjering questions community was asking on candidate's proposals and in different chat groups (such as ChaosDAO and Kus delegation). After compiling th questions, we created a document, which gathers all the relevant questions to help every voter compare the candidates with ease. We believe the value generated by creating this document is at least $200. We hope the DOT holders will agree. !\[\](https://i.imgur.com/chVRzoh.png)

WHO: The authors of the standardized interview guide. 

WHAT: Requesting compensation for their time spent creating the document. 

PRICE/TIMEFRAME/RESOURCES: $50 per hour for 4 hours, totaling $200.

Creating a standardized interview for Head Ambassadors

This proposal is to ask for more money because the price of DOT changed and we got 30% less than we asked for. We asked for 167,214.5 DOTs, which was worth $1,585,229.01. But when we got the money, DOT was worth less, so we only got $1,107,026.87. This made us short by $478,202.14. We need this money to pay our workers and suppliers. We are asking for 478,202.14USDC. If we don't use all the money, we will take it out of our next request.

This proposal is to top-up our approved request from OpenGov #584, as due to the fluctuation of the DOT price, we have received 30% less liquid funds. OpenGov Referendum #584 / Treasury Proposal #751 was submitted on 2024-03-18 19:38:12 (+UTC). We requested 167,214.5 DOTs. At the time of conversion, the price of DOT was 9.4802, which translates to a request for $1,585,229.01. The funds were disbursed to the PBA on May 12th 2024, when the price of DOT was $6.6204, effectively making our funding $1,107,026.87 This resulted in a $478,202.14 deficit due to the drop in price of DOT. We did not expect such a level of volatility and our expenses are set in fiat. While we did allocate a buffer for the expenses to be incurred, this large deficit does not allow us to fulfil our obligations to our vendors in Singapore, our international faculty, and our operational staff. We are making a top-up request of 478,202.14USDC. As is the case with all Polkadot Blockchain Academy funding, any unused funds will be deducted from future proposals.

WHO: Polkadot Blockchain Academy
WHAT: Making a top-up request of 478,202.14USDC due to a $478,202.14 deficit caused by the drop in price of DOT.
PRICE/TIMEFRAME/RESOURCES: The requested amount is 478,202.14USDC and any unused funds will be deducted from future proposals. No timeframe or additional resources mentioned.

Top-up of Proposal 751 due to DOT price change

### Milestone 2 Proposal for Polkadot Collectives

**Summary:**
- **Features:**
  - Support for ambassador businesses, similar to fellowship features.
  - Business warnings to prevent accidental demotions or missed promotions.
  - Enhanced profile pages with detailed member information.
  - Statistics on collective spending and member activities.
  - Sub-treasury management for fellowship and ambassador funds.
  - Enhanced referenda features for collective decision-making.

- **Budget:**
  - Total estimated hours: 1960
  - Hourly rate: $90
  - Total budget requested: $176,400

WHO: The proposer team. 

WHAT: Implementing milestone 2 to support collectives (fellowship, ambassadors) on Polkadot, including features such as ambassador business support, business warnings, profile enhancement, statistics, sub treasury, and referenda enhancement. 

PRICE: $176,400. 

TIMEFRAME: Not specified. 

RESOURCES: 3 FTE for most features, 1 FTE for testing.

Subsquare polkadot collectives support milestone 2

dAppForge is a planned AI-powered plugin for Polkadot developers that aims to reduce development time. It is designed to address the difficulty of learning Substrate and Ink! frameworks, which are major challenges for developers in the Polkadot ecosystem. The project has received $100,000 in funding from an angel investor to build the first iteration of the AI model and the alpha version of the plugin, which is available for download from the VS code extension marketplace.

The development of dAppForge is divided into four milestones:
1. The first iteration of the AI model and the alpha version of the plugin have been completed.
2. The beta version of the product, which includes fine-tuning the AI model, integrating Ink!, and building a chat feature, is the next phase. The team is seeking treasury funding for this milestone.
3. And 4. Future milestones involve integrating the Pop network to improve the developer experience for Ink! developers and implementing features like reference documentation and pre-written prompts for runtime templates. The main task will be releasing a freemium API model with a free tier for basic code suggestions and a premium subscription-based API offering enhanced AI, personalized learning, and an up-to-date knowledge graph.

Neurons Lab, which developed the initial AI, has been commissioned again and can leverage AWS AI Production Ready Funding Program to obtain $75,000 in co-funding from AWS, resulting in a total AI development budget of $150,000. The comprehensive cost for milestone 2 is $105,000 and is expected to take 12 weeks to complete. After milestone 2, the core of dAppForge will be open-source, and the team plans to ask the treasury for funds for milestones 3 and 4, which will each take about 12 weeks and cost around $100,000 to $115,000 each. The monetization strategy includes a subscription-based premium API to support ongoing development and improvement of the free, open-source version.

Hello, everyone. This discussion post aims to gather insights and feedback from the community about a planned treasury proposal for dAppForge. dAppForge is an AI-powered plug-in for Polkadot developers that reduces development time.

### Summary of Important Points

The developer experience on Polkadot is the ecosystem's #1 problem. Substrate and Ink! are very powerful frameworks, but they are very difficult to learn. Because of this, Polkadot developers always struggle to build better applications. The bad developer experience also makes it harder for new developers to enter the ecosystem. Polkadot needs a better developer experience to grow the developer ecosystem and enable developers to build better applications faster. Better applications will attract more users, which is a problem Polkdot has always had. One solution to the DevEx problem is dAppForge.

dAppForge is an AI-powered plug-in for Polkadot developers that reduces development time. The AI model will be explicitly fine-tuned for substrate and ink! We received $100,000 in funding from Angel Investor to build LLM's first iteration and the alpha version of the plug-in. You can also download the alpha version of the plugin from the VS code extension marketplace.

![](https://i.ibb.co/5KmDZ7J/d-App-Forge-1.png)

Since this is the alpha version, there is still much fine-tuning left to do. The funding received enabled us to complete the first of four milestones to build dAppForge V 1.0. dAppForge version 1.0 is divided into 4 milestones: Milestone 1: the first iteration of LLM and the alpha version of the VS code plugin. This was completed, but the product is at a level where developers won’t see a lot of value. This is because the model needs to be further fine-tuned. Milestone 2: This is the beta version of the product. It includes fine-tuning the LLM model, integrating ink!, and building a chat feature. This is where developers will see value in using the product. We are applying to the treasury to fund milestone 2. Milestones 3 and 4: We plan to integrate the Pop network to further improve the DevEx for ink developers! We will also work on implementing other features, such as reference documentation and pre-written prompts for runtime templates. The main task for these milestones will be releasing our API freemium model. The API will have a free tier, and developers will have access to basic code suggestions and a foundational knowledge graph to help them build their Polkadot projects. The subscription-based premium API will offer extra features, such as:

-   **Enhanced AI**: More accurate, contextually relevant code suggestions powered by advanced models.
-   **Personalized Learning:** Train the AI on your codebase for tailored suggestions.
-   **Up-to-date Knowledge Graph:** Access the latest Polkadot knowledge and best practices with our regularly updated knowledge graph.

We completed milestone 1. Here is the **[GitHub link](https://github.com/neurons-lab/dAppForge-copilot/)** to the repository. It will be migrated to the dAppForge repository in the future, and the code for the plug-in will also be open-sourced. We are now seeking treasury funding for milestone two. Milestone 2 funds the product's beta version, which developers will see value in using. The code suggestions will be more accurate and help reduce some of the developers' pain points when building with Substrate. We will also incorporate ink!, making it easier for developers to use smart contracts to test their ideas quickly.

[Neurons Lab](https://neurons-lab.com/), which developed the first version of AI in the previous development phase, has been commissioned again. As an AWS partner, Neurons Lab can leverage the AWS AI Production Ready Funding Program to obtain $75,000 in co-funding from AWS. This results in a total AI development budget of $150,000, with costs split equally between AWS and dAppForge. This will enable us to build a robust beta verison with a better fine-tuned AI model. AWS credits cover all the AWS hosting costs. The $75,000 does not include building the chat feature and integrating the AI model into the plug-in. Those are separate development costs. The comprehensive cost for milestone 2 is $105,000 and will take 12 weeks to complete.

The beta version of the product will be free to everyone. After completing milestone 2, developers will see the plug-in's value. The core of dAppForge will be open-source, meaning anyone can download the model on their local devices. After completing milestone 2, we plan to ask the treasury for funds for milestone 3 and then milestone 4.

Milestones 3 and 4 will each take about 12 weeks to complete and cost around $100,000 to $115,000 each. After completing milestone 4, dAppForge version 1.0 will be ready. The main part of milestones 3 and 4 will be implementing the API freemium feature. The subscription-based premium API is part of our monetization strategy. The cloud-based premium features will support dAppForge's ongoing development and improvement. This helps ensure that the free, open-source version is available and improved for everyone. The monetization strategy also eliminates the need to ask for continuous treasure funding after milestone 4.

Here is the **[](https://docs.google.com/document/d/149YzOSx8DoqSX5eEVutvG7fimRh9pmBkK8wzQuSZi0M/edit?usp=sharing)[link to the whole proposa](https://docs.google.com/document/d/149YzOSx8DoqSX5eEVutvG7fimRh9pmBkK8wzQuSZi0M/edit?usp=sharing)[l](https://docs.google.com/document/d/149YzOSx8DoqSX5eEVutvG7fimRh9pmBkK8wzQuSZi0M/edit?usp=sharing)**

Looking forward to feedback from the community!

dAppForge, an AI-powered plug-in for Polkadot developers, received $100,000 in funding to build Milestone 1. They are now seeking treasury funding of $105,000 to complete Milestone 2, which will fund the product's beta version. Milestones 3 and 4 will each cost around $100,000 to $115,000 and will take about 12 weeks to complete. The comprehensive cost for the entire project is $420,000. The core of dAppForge will be open-source, and the beta version will be free to everyone. The subscription-based premium API is part of their monetization strategy.

dAppForge - AI powered plug-in for Polkadot developers that reduces development time. 

Project Magnet submitted a proposal on April 7, 2024, for 33,956.17 DOT worth $294,400. The proposal was approved, but due to a decrease in DOT's EMA-7 price, the project received only $248,354.20, resulting in a shortfall of $46,045.80. The project has made progress in Execution Layer Modules, Coretime Layer Modules, and Profit Layer Modules. The front-end design is complete, and development is ongoing. The Magnet Testnet is online in Rococo, using DOT as gas fee. The project requests a top-up of $46,045.80 to align with the original budget and ensure successful execution.

**Context**

On April 7, 2024, Project Magnet submitted a proposal [(Proposal 654)](654) for 33,956.17 DOT, equating to USD $294,400 based on the EMA-7 price of $8.67 per DOT at the time of submission. The proposal was approved, and the funds were received on May 6, 2024. However, the EMA-7 price of DOT had decreased to $7.315045 by this date, resulting in a significant shortfall.

**Calculation of Shortfall**

Initial Proposal Amount (April 7, 2024):

-   Requested DOT: 33,956.17 DOT 
-   EMA-7 Price: $8.67
-   Total USD Value: 33,956.17 DOT \* $8.67 = $294,400

Funds Received (May 6, 2024):

-   Received DOT: 33,956.17 DOT
-   DOT Price: $7.315045
-   Actual USD Value: 33,956.17 DOT \* $7.315045 = $248,354.20

Shortfall:

-   Shortfall in USD: $294,400 - $248,354.20 = **$46,045.80**
-   EMA-7 Price: $5.991 (July 8, 2024)

Request Top-up:

-   46,045.8 USD

**Project Development Updates:**

**Execution Layer Modules:**

EVM, WASM, and MoveVM abstractions are completed. AssetBridge: The front-end UI and application redesign have been completed. Please refer to the attached images. Proxy and Multisig: The abstraction and integration of these two modules have been completed. Coretime Layer Modules:

**Coretime Layer Modules:**

Bulk & on-demand: Work in Progress (WIP). Bulk coretime purchase information proof generation and verification have been completed. The on-demand coretime module is currently under development.

**Profit Layer Modules:**

Profit Modules: On-demand Profit calculation and configurable distribution have been completed. Bulk Profit calculation and configurable distribution are currently under development.

For details about project updates, please refer to our GitHub page.

**Front End:**

Design has been completed, and front-end page development is in progress. For details, please refer to the attached images.

**Testnet:**

The first Magnet Testnet is online in Rococo, running with Bulk Coretime model using DOT as gas fee

**Conclusion:**

The requested top-up of **46,045.8 USD** is essential to align the project's funding with its original budget, ensuring the successful execution of the Magnet project as initially planned. We kindly request the community's support for this proposal.

Github: [https://github.com/Magport/Magnet](https://github.com/Magport/Magnet) (Latest feature is in develop branch)

Design Detail: [Google Doc](https://docs.google.com/document/d/1vlpuy7s5EZ53O25u7mM4Moq4EMRgKDsl5Cx15BTAkd4/edit?usp=sharing)

Partial application interface preview can be found in the appendix : [Google Doc](https://docs.google.com/document/d/1G6GhifkTAPHiBjZe1CnrcPyiGM_6Jbay5Q3qW9dRBrc/edit)

Project Magnet requests a top-up of $46,045.8 to align funding with the original budget. The project has completed the EVM, WASM, and MoveVM abstractions, front-end UI and application redesign for AssetBridge, and the integration of Proxy and Multisig modules. Coretime and Profit Layer Modules are in progress, and the front-end page development is ongoing. The first Magnet Testnet is online in Rococo.

Proposal: Request for DOT Top-Up to Cover Price Difference

- The Editorial Board for Polkadot en Español needs funding to keep their team working for the next six months.
- They have greatly increased their activity on social media, going from 6 posts in January to 63 in June.
- Their posts have reached 169,000 people in June, a huge jump from 14,000 in January.
- The team includes MacZam from Chile, Janko from Mexico, and Gabriel from Argentina, each with special skills.
- They want $46,000 to pay the salaries of these three team members and help the account continue to grow.
- This funding will help keep spreading the message about Polkadot in Spanish-speaking countries.

WHO: The Editorial Board for Polkadot en Español X account.

WHAT: Requesting funding for the salaries of three key members for six months to continue their mission of enhancing Polkadot's presence in the LATAM region.

PRICE/TIMEFRAME/RESOURCES: The total amount requested is 46k USDT, which includes 45k USDT for the salaries of the three members and 1k USDT for external signatories' tips for six months.

Continuation and Salary Request for Editorial Board in Spanish Members

A group asked for $1,337,000 to sponsor HEROIC esports on a blockchain. They started working with Polkadot community members on a marketing campaign and will have a keynote and stand at Decoded. But because the price of DOT dropped, they only got $1,231,427 and need an extra $105,573 to cover all the marketing plans they agreed to.

In Ref#762 ([https://polkadot.polkassembly.io/referenda/762),](762\),) we requested a total of $1,337,000 for an exclusive blockchain sponsorship of HEROIC esports.

Since then, we have successfully launched the partnership, established the Marketing Council with Polkadot community members (Leemo, Evan, and Olli + Nate from Distractive) to work on the first marketing campaign, and we are confirmed to do a keynote and stand at Decoded.

Unfortunately, due to a price drop, we received the payment when the price of DOT was $6.18 (29.06.24 at 10:40AM) and we are asking for a top up to cover the difference. This is to make sure we have the budget to cover all agreed marketing deliverables in the partnership agreement.

**Top up request**

-   Original requested amount: 199,260 DOT at 6.987 USD — 1,392,259 USD at the time, anything above 1,337,000 USD would be repaid
-   Received amount: 1,231,427 USD at 6.18 USD per DOT
-   Top up request: 105,573 USDT

[https://polkadot.polkassembly.io/referenda/762](762)

HEROIC esports requested a top-up of 105,573 USDT to cover the difference caused by the price drop of DOT. The original requested amount was 199,260 DOT at 6.987 USD, and they received 1,231,427 USD at 6.18 USD per DOT.

Top up | HEROIC x Polkadot sponsorship due to DOT price drop

Snowbridge, a trustless bridge between Polkadot and Ethereum, has successfully launched and is growing in usage. It is a significant innovation for interoperability in the Polkadot ecosystem. The project has completed 3-4 integrations and plans to increase integrations across all parachains in the coming months. A treasury proposal has been submitted to finalize payments for completed engineering milestones, operating costs, and team incentives. The proposal includes additional controls for team incentives and medium-term insurance guarantees for bridge users. The total amount requested is 505157 DOT and 2812500 USDC, covering audit and operational costs, milestone completion bonuses, post-launch bonuses, and successful operation incentives. The beneficiary address is provided for the payments.

**Launch**

Snowbridge is live! We've been up for ~ 2 weeks, running smoothly since launch, with no issues and usage is starting to grow.

If you're not familiar with it, it's a bridge between Polkadot and Ethereum that is designed and implemented to be fully trustless, with no multi-sig or third party involved. It’s a major innovation for interoperability in the Polkadot ecosystem.

Snowbridge is one of the longest running and most complex public goods project in the Polkadot ecosystem outside of Parity itself, and many teams have eagerly awaited the launch.

We've also already finished off 3 - 4 integrations with other teams, and are expecting to ramp up integrations across all parachains over the next month before a wider growth and adoption program.

If you missed the launch, see more details in our blog announcement [here](https://snowfork.substack.com/p/snowbridge-is-live) and try it out yourself using the app [here.](https://app.snowbridge.network/)

**Treasury Proposal**

With the launch done, we’ve completed all our milestones from our [original proposal in 2022](../referendum/88) and are set up for the long term success of the bridge. In that proposal, our team and the Polkadot community agreed upon our expected milestone payments and incentives which totalled to ~$10 mil worth of DOT.

This proposal finalizes the payments for our 2024 completed engineering milestones, operating costs and team incentives. It also adds additional controls on those team incentives to ensure strong alignment between the team and the Polkadot community, and gives medium-term insurance guarantees to bridge users.

The proposal is long as it documents a lot of the work we've been doing over the last 2 years as well as future plans, but we're looking for any early support, feedback and discussion here before going live with the proposal.

The executive summary of the propsal is copied below, and the full proposal is here:

[https://spinamp.mypinata.cloud/ipfs/QmRSkK7YVbnTDYCsgWhyfvDydtbSi1uyWDbRDrxPvnPzmi](https://spinamp.mypinata.cloud/ipfs/QmRSkK7YVbnTDYCsgWhyfvDydtbSi1uyWDbRDrxPvnPzmi)

(Note: exact numbers will be updated based on the Subscan EMA7 rate on the day of submission)

**Executive summary**

Total amount: 505157 DOT and 2812500 USDC (~5,797,500 USD, based on the current Subscan EMA7 rate of 6.22, with a 5% buffer for slippage)

This is broken down into:

-   Audit & Operational costs: Single payout of 187849 DOT (based on $1,110,000). Paid on execution of proposal
-   Milestone completion bonus: First 12 out of 24 months vesting payouts, covering the period from July 2024 to July 2025. 13221 DOT per month, totalling 158652 DOT. Scheduled for monthly claim, starting immediately. (based on $937,500)
-   3-months post launch bonus: Single payout of 158656 DOT (based on $937,500). Scheduled for claim 3 months after launch.
-   Successful operation incentives: First 9 out of 21 months payouts, covering the period from July 2024 to July 2025. 312500 USDC per month totalling 2812500 USDC.

Beneficiary Address: 129Uxho5oKBz6js8dwjoQLzLjYsEs4ZLBtS7KRotQbunVNfP

This payment covers:

-   Auditing costs (both retroactive and future 2024 costs)
-   Sponsorship for light client relayer costs for 2024 (both retroactive and future costs through July 2025)
-   Already completed engineering and launch milestones
-   The first 6 out of 21 months of successful operation incentive payments, based on the schedule agreed upon in our original proposal, for longer term success in maintenance and development work on the bridge.
-   Medium-term Insurance for users of the bridge and the wider Polkadot community.

Snowbridge, the first fully trustless Polkadot <> Ethereum bridge is live. We’ve completed all our milestones from our original proposal last year and are set up for the long term success of the bridge.

Demo (on Polkadot): [https://app.snowbridge.network/](https://app.snowbridge.network/)

See the Completed Work and Future sections in the full document for a summary of our completed milestones, last year of work and future plans.

Our last successful proposal was in 2022, where our team and the Polkadot community agreed upon our expected milestone payments and incentives. The agreed total milestone payments and incentives totalled ~$10mil worth of DOT.

This proposal finalizes the payments for our 2024 completed engineering milestones, operating costs and team incentives. It also adds additional incentive alignment controls and medium-term insurance guarantees for the bridge. Further details on the payment and incentive structure, see the full document.

A summary diagram of payment flows:

![](https://i.ibb.co/z5KG6Gt/sankeymatic-20240703-184218-1800x1200.png)

The execution is a batch transaction, with spends that are delayed over the next year to cover all 4 payment buckets mentioned. There is a table that specifies the amount, validFrom and days delayed of each spend in a much simpler, easier to read form at the end section of the full proposal, linked above.

Snowbridge, a trustless bridge between Polkadot and Ethereum, has launched and completed its milestones. They propose a payment of 505157 DOT and 2812500 USDC (~5,797,500 USD) for audit and operational costs, milestone completion bonuses, and successful operation incentives. The proposal adds additional controls on team incentives and medium-term insurance guarantees for bridge users. The proposal details can be found at https://spinamp.mypinata.cloud/ipfs/QmRSkK7YVbnTDYCsgWhyfvDydtbSi1uyWDbRDrxPvnPzmi.

Treasury Spends