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.

Snowbridge Launch and Treasury Proposal

**Phink, the Ink! Fuzzer**

- Phink is a free tool that helps make ink! smart contracts safer in the Polkadot ecosystem.
- It uses advanced techniques to find problems in smart contracts, making them more secure.
- Phink checks for specific rules to make sure contracts work correctly and don’t have bugs.
- It is flexible and works well with different versions of ink! smart contracts.
- The tool is easy to use, with a friendly interface that shows how the contract is performing.
- The team, SRLabs, is asking for money to help build Phink and improve smart contract security.
- They want feedback from the Polkadot community to make sure Phink meets everyone's needs.

SRLabs proposes to develop an open-source fuzzing tool, Phink, for ink! smart contracts in the Polkadot ecosystem. The tool aims to enhance security testing, comprehensive invariant testing, broad compatibility, and user-friendliness. SRLabs seeks funding for the development of the tool, including a fuzzing harness, custom instrumentation, user-friendly interface, and documentation. The proposal invites feedback from the Polkadot community.

Phink – ink! fuzzer for security and robustness  

- The writer is requesting compensation for creating a document that proposes a new structure for the Polkadot Ambassador Program.
- The document took around 4 hours to create, and the writer is asking for $50 per hour, totaling $200.
- The writer believes this rate is justified due to their technical experience in the Polkadot space.
- The document aims to show how easy it is to contribute to Polkadot and earn rewards, potentially leading to becoming an ambassador.
- The writer thinks the value generated by the document exceeds $200.
- The decision on whether to approve the compensation is left to DOT holders.
- Evidence of the time spent creating the document can be found in the version history of the HackMD page.

WHO: The author of the TIP proposal. 

WHAT: Requesting compensation for the time spent writing a proposal for a new structure to the Polkadot Ambassador Program. 

PRICE/TIMEFRAME/RESOURCES: $50 per hour for approximately 4 hours of work. The author believes the value generated by the document is more than $200, but leaves it to DOT holders to decide.

[Small Tipper] Referendum #1025 - Creating a new vision for Polkadot Ambassador Program

Polkasafe Summary

- Polkasafe is a tool for managing assets securely on the Polkadot network. 
- It has reached all its project goals over the past 8 months, getting feedback from users.
- The tool is built using strong security features and offers many helpful functions.
- Some completed features include dashboards, accounting software integration, and NFT support.
- Polkasafe plans to keep improving, with open-source technology and ongoing user support.
- Future improvements include faster performance and better user experience.
- Users can visit the app at app.polkasafe.xyz for more information.

Polkasafe completed all milestone tasks to become a complete solution for asset management using multisig on Polkadot networks. They offer a comprehensive set of tools and features for managing assets on the Polkadot network. They completed all milestones and plan to improve the product performance further. The entire tech stack for the product is open source. Read the complete proposal for more details.

Polkasafe - The 360° multisig solution for Polkadot | Last Retroactive Funding Proposal

- A request was made for $165,000 to develop a Coretime Marketplace for Polkadot.
- The team reached their first milestone and is close to finishing the second.
- They launched the parachain on Rococo and will soon support Coretime trading.
- The payment received was less than expected due to a drop in the price of DOT.
- They received $116,446 instead of the full amount.
- They are asking for an extra $48,554 to cover the price difference.

WHO: The proposal was made by the Coretime team.

WHAT: The team is requesting a top-up of $48,554 USDT to cover the price difference for the development of a Coretime Marketplace for Polkadot.

PRICE/TIMEFRAME/RESOURCES: The initial request was for $165,000 at 9.478$ per DOT. The team received $116,446 at 6.69$ per DOT. The top-up request is for $48,554 USDT. No timeframe or additional resources were mentioned.

Top Up | RegionX Coretime Marketplace for Polkadot

StorageHub is a decentralized storage solution developed by Moonsong Labs, funded by the Web3 Foundation. It is designed to work well with Polkadot's features, making it strong, fast, and able to work with other systems. Here are some reasons why StorageHub is important:

1. It works easily with Polkadot without needing complicated setups.
2. It has two types of storage providers, which makes it flexible and keeps data safe.
3. It makes payments easier for users.
4. It helps the Polkadot community grow by providing a platform for new ideas.

The team wants to make sure StorageHub is safe and reliable, so they are asking for money to have it checked by SRLabs, a company that knows a lot about keeping things safe in the world of blockchain.

You can learn more about StorageHub and Moonsong Labs by visiting their websites and reading their proposal. They also want to hear your ideas to make StorageHub even better.

**What is StorageHub?**

As part of the Decentralized Futures program sponsored by the Web3 Foundation, Moonsong Labs has been awarded a grant to develop the open-source codebase for a decentralized storage solution, optimized for larger data sets and file-based storage, that has been affectionately dubbed “StorageHub”. StorageHub is designed to integrate seamlessly with Polkadot’s native functionalities, promoting robustness, scalability, and interoperability.

**Why StorageHub?**

-   **Seamless Integration**: Unlike current solutions that require complex setups or rely on external systems, StorageHub's design aims to offer a fully integrated, native experience within Polkadot.
-   **Dual Provider Model**: Introduces Main and Backup Storage Providers, enhancing flexibility and ensuring data unstoppability without compromising on decentralization.
-   **Simplified Payments**: Through continuous payment streams, StorageHub's design seeks to simplify the user experience, balancing the ease of one-time payments with sustainable, incentive-aligned ongoing contributions.
-   **Community and Ecosystem Growth**: StorageHub's codebase not only aims to serve as a foundational infrastructure for storage, but also seeks to support the growth of the Polkadot ecosystem by hopefully providing a platform for innovative decentralized applications.

**Proposal Overview:**

As engineers, we strongly believe that auditing new code is not only best practice, but that is also in Polkadot’s best interest. Audits were not funded under the Decentralized Futures grant and therefore this proposal specifically seeks funding for the audit of this decentralized storage codebase. This audit, conducted by SRLabs, a leader in blockchain security, is essential to ensure that StorageHub's codebase meets the highest standards of security and reliability. This collaborative effort with SRLabs highlights our commitment to best practices in engineering and our dedication to enhancing Polkadot's infrastructure.

**Engage with Us:**

-   **Read the Full Proposal**: For a detailed understanding of the context of this proposal, the identified problem, and StorageHub's ideas to solve it, read our full draft proposal [here](https://docs.google.com/document/d/1W5mIvENyBeT_ZT5flT15R0UhY5nHyp7wTo-ncL2A-iE/edit?usp=sharing).
-   **Explore More**: For technical details and ongoing updates, check out our GitHub repository [here](https://github.com/Moonsong-Labs/storage-hub) (currently under development).
-   **Learn About Moonsong Labs**: Discover more about our team and our vision on our [website](https://moonsonglabs.com/).
-   **Learn About SRLabs**: Security Research Labs is a cybersecurity consultancy committed to making the world more secure. Discover more about them on their [website](https://www.srlabs.de/).

**We Need Your Feedback:**

How can we improve our proposal? What features do you believe are most critical for StorageHub's codebase? Your input will help us refine our approach to better serve the Polkadot community.

Moonsong Labs received a grant to develop StorageHub, a decentralized storage solution for Polkadot. They are seeking funding for an audit of the codebase by SRLabs to ensure security and reliability. No specific price or timeframe is mentioned.

StorageHub’s Codebase Audit

Referendum 631 top up due to DOT price change

### Summary

- **ink! analyzer** is a tool for analyzing [ink!](https://use.ink) smart contracts, similar to how [rust-analyzer](https://github.com/rust-lang/rust-analyzer) works for Rust.
- It helps developers by providing intelligent editing features and understanding ink! contract rules.
- The tool is available as a [Visual Studio Code extension](https://marketplace.visualstudio.com/items?itemName=ink-analyzer.ink-analyzer) with over 415 unique installs.
- It has a modular architecture that allows it to be used in various IDEs and code editors that support the Language Server Protocol (LSP).
- The current proposal requests $56,750 for adding ink! 4.x to 5.0 migration features and other improvements.
- Previous funding for the project came from Web3 Foundation grants and a retroactive treasury proposal.
- The author, David Semakula, is an experienced software engineer and systems architect with contributions to both rust-analyzer and ink!.

WHO: David Semakula
WHAT: Requests retroactive funding of $56,750 for adding ink! 4.x to 5.0 migration features and other major improvements to ink! analyzer.
TIMEFRAME: Not specified.
RESOURCES: ink! analyzer, modular and reusable libraries and tools for semantic analysis of ink! smart contracts.

ink! Analyzer: Retroactive funding for ink! 4.x to 5.0 migration features, and other major improvements (56,750 USDT)

- The Polkadot Fellowship has a new feature called `spend()`.
- This feature allows different types of payments in cryptocurrencies like DOT and USDT.
- It was added with the Polkadot Runtime 1.1 upgrade.
- The goal is to test the `spend()` feature by sending Alice and Bob 69 USDT, which is a funny number.
- Changes include faster payments and the ability to pay in stable currencies.
- The test showed some instructions were incorrect, which could lead to errors.
- The payment goes to a company account called Polkalytics.
- This proposal is being carefully reviewed to fix any issues before going live.

The proposal aims to raise awareness and test the new `spend()` extrinsic introduced by the Polkadot Fellowship, which supports multi-asset Treasury spends from an XCM multi-location to be paid out at a specific block. The proposal suggests sending 69 USDT to Alice and Bob's Polkalytics account to test the extrinsic. No timeframe or additional resources are mentioned.

Treasury Spends