Polkadot governance news #10: HydraDX Catalyzing Governance Participation for Swifter Staking Rewards

Welcome to the latest edition of Polkadot Governance News, your trusted source for updates on decentralized decision-making across the Polkadot ecosystem. In this edition, we’re excited to highlight the transformative impact of HydraDX’s governance voting boost mechanism, which is driving a substantial increase in participation and influencing the course of the ecosystem.

HydraDX, a dynamic decentralized exchange on the Polkadot network, has recently introduced staking of the native HDX token, which turned up as an innovative governance voting boost mechanism. This groundbreaking approach has sparked a remarkable surge in voter turnout, breathing new life into the governance process. Before staking was live, voter participation stood at a modest around 1% or even below. However, with the introduction of staking incentives, these figures have surged to an impressive 3.84%, 5.64%, 4.18%, and 4.05%. This is a significant 300–500% boost in voting participation, which underscores the power of aligning incentives with active engagement, resulting in a more vibrant and responsive ecosystem.

Claimable rewards graph of HDX staking

How does it work? HydraDX’s voting boost not only amplifies the weight of each vote but also unlocks staking rewards for participants. By continuously engaging in governance votes, community members not only shape the future of the ecosystem but also enjoy substantial rewards, reinforcing the idea that active participation is not only impactful but also economically rewarding.

Is this a way of increasing community engagement about what’s actually going on with the protocol? It really seems it is!

In our governance news, we focus mostly on spending referenda such as

• Small Spender (up to 10k DOT),
• Medium Spender (up to 100k DOT),
• Big Spender (up to 1M DOT), and
• Treasurer (up to 10M DOT),
• with some exceptions on some interesting referenda or heavily discussed ones.

We focus also on the referenda of Polkadot and Kusama parachains, as they are as important as those on relay chains.

1. Polkadot Referendum 135 for Moderation Team Bounty to provide an incentive to authorized Polkadot Moderators for their round-the-clock contribution and support to the communities, has passed.
2. Polkadot Referendum 134 for Proposal: Building a better understanding of blockchain across mainstream global media has passed.
3. Polkadot Referendum 133 for Election of curation team — bounty 19: Wasm Smart Contracts Bounty has passed. This proposal is to assign a set of Curators for Bounty 19 which consists of six people from different community teams and whose qualifications and Polkadot addresses can be found in the original post for Bounty 19.
4. Polkadot Referendum 132 for Unbrick Nodle has passed. The Nodle Parachain was bricked after its last upgrade failed. This referendum proposed to use of the forceSetCode functionality on Polkadot to ensure the prompt restart of the parachain.
5. Polkadot Referendum 131 for Polkadot @ SXSW 2023, Austin, Texas on March 12th-15th 2023 which increased Polkadot brand visibility and connections to a Web2 audience of startups, enterprises/brands, thought leaders and influencers, media, and consumers, has been rejected.
6. Polkadot Referendum 129 for Encointer Treasury Proposal (budget halving) has been rejected. It aims to fund a secure and decentralized sybil-resilience protocol that enables communities everywhere to generate their own, autonomous local currency, and use it to stimulate the local economy.
7. Polkadot Referendum 128 for Allocate DOT Loan for Use Amongst Cross-Ecosystem DeFi within the Cosmos Ecosystem was rejected.
8. Polkadot Referendum 126 for RadiumBlock: Retroactive funding for High Performance Public Endpoint Service for Polkadot (Q4 2022 and Q1 2023) has been rejected.
9. Polkadot Referendum 125 for Nova Spektr Milestone 3 Proposal: Dynamic Derivations, WalletConnect v2, Proxy accounts, Cross-chain transfers, Fiat values, EVM addresses & more, has passed. The team is focused on enterprise adoption and this proposal will provide a one-stop-shop for stakeholders with advanced needs, enterprises and DAOs, and individual users in the entire ecosystem.
10. Polkadot Referendum 124 for Magnet Proposal: Polkadot’s Smart Contract Docking Station using DOT as Gas Based on the PAYG Model has passed.
11. Polkadot Referendum 122 for Register KSM on Asset Hub has passed. Enacting this proposal will register the asset { parents: 2, interior: GlobalConsensus(Kusama) } on the Polkadot Asset Hub, and KSM will be a sufficient asset with a minimum balance of 0.01 KSM. This registration by governance is part of the initialization of a Polkadot <> Kusama bridge.
12. Polkadot Referendum 121 for Crypto-Friendly Substrate Scaffold Pallets for Every Parachains to realize privacy and scaling functionalities has been rejected.
13. Polkadot Referendum 120 for Multix — Further development and Cypress Dapp testing plugin has passed. Multix is a simple interface to manage complex multisigs, making it easy even on mobile or with the use of pure proxies.
14. Polkadot Referendum 119, funding the development of an open communication layer for Polkadot, has passed.
15. Polkadot Referendum 118, Maintenance for the substrate-api-client Sep-23 to Dec-23, has passed.
16. Polkadot Referendum 117, funding the development of Societal (a potential parachain for building on-chain communities), has been rejected.
17. Polkadot Referendum 116, funding the operation and maintenance of PolkaWorld, has been rejected.
18. Polkadot Referendum 111, proposing a curator for the Polkadot Assurance Legion Bounty, has passed.
19. Polkadot Referendum 109 for Polkasafe — Milestone 2 — Retroactive funding proposal has been rejected.
20. Polkadot Referendum 107 LayerX — rollout parachain as Trustless Bridge between Polkadot and Ethereum has been rejected.
21. Polkadot Referendum 106 for Community-Centric Blockchain Education: Dacade’s Commitment to Polkadot’s Growth via learning through sharing has been rejected.
22. Polkadot Referendum 104 for Polkadot journal: A Marketing Proposal for Polkadot/Kusama has been rejected. It’s seeking to address the lack of premium merchandise options related to blockchain technology and the scarcity of personalized notebooks for storing seed phrases associated with these networks.
23. Polkadot Referendum 103 for Milestone 3: Polkadot Hackathon Global Series 2023 has passed. This request is partly to reimburse operations and service fees for running the APAC hackathon, but mainly to reward the hackathon winners for their hard work and contribution in this edition.
24. Polkadot Referendum 102 for [Retroactive] Polytope Labs: ISMP Research & Development which is designed to improve and secure cross-chain communication and operations, has been rejected.
25. Polkadot Referendum 101 for Milestone 3 Proposal: Polkadot x EasyA Hackathons at Harvard and in London (#60DaysOfPolkadot) has been rejected.
26. Polkadot Referendum 99 for Patron Milestones 2–7 Development for a tool that verifies & builds smart-contracts in one step has been rejected.
27. Polkadot Referendum 97 for YieldBay Phase 2 — Reimbursement proposal that was approved as Motion #355 has passed.
28. Polkadot Referendum 96 for Artificial Intelligence for security monitoring on a network level has been rejected.
29. Kusama Referendum 264, A small tip for the last two years of contribution, has been rejected.
30. Kusama Referendum 262, OpenBrush 8–9, 11 milestone delivery, has been rejected.
31. Kusama Referendum 261 AIWeb3 Chinese Unit proposal II (爱Web3 中文社区提案 II) has been rejected.
32. Kusama Referendum 259 POLKADOT SAFARI ’23 (Request for second allocation of funds) has passed.
33. Acala Referendum 77 Initial Stage of the Euphrates Liquidity Mining Program has passed. The program includes staking ACA tokens, LCDOT and DOT tokens, and participating in liquidity pairs on Acala Swap and other DApps. The first phase of the program is for LCDOT staking via the Euphrates DApp.
34. Bifrost Polkadot Referendum 61 Supporting BNC Listing on HydraDX Omnipool has passed. This proposal resulted into borrowing 700,000 BNC from Bifrost-Kusama Ecosystem Reserved Fund and then transfered to HydraDX via the XCM.
35. HydraDX Referendum 77 Add GLMR to Omnipool has passed. Thanks to the results of this referendum, GLMR is now tradable on the Omnipool.
36. Interlay Referendum 69 vDOT Vaults on Interlay has passed. This proposal registers the vDOT asset from Bifrost and enables it to be used as collateral for Vaults. The thresholds are set to the same as those used for DOT: Secure: 155%, Premium Redeem: 140%, Liquidation: 125%.
37. Litentry Referendum 7 Litentry Token Burn Event #3 has passed. Litentry team burned 377,800 LIT during the third quarter.
38. Moonbeam Referendum 15 to Register Asset xcUSDC has passed.
39. Centrifuge Referendum 41 CP66: Pool onboarding Anemoy Liquid Treasury Fund 1 has passed. Anemoy is a digitally-native asset management platform built to provide both DeFi and more traditional (TradFi) investors access to superior risk-adjusted returns enabled by blockchain technology.

Anemoy Liquid Treasdury Fund 1

1. Polkadot Referendum 161 Apillon Platform Milestone 1 Proposal is currently passing. Apillon is a platform that helps developers create web applications on Polkadot. Apillon aims to simplify Polkadot API access, which will potentially lead to broader developer adoption.
2. Polkadot Referendum 160, AIWeb3 Chinese Unit proposal (爱Web3 中文社区提案) — September, 2023 — March, 2024, is currently passing.
3. Polkadot Referendum 159, Moderation Team Bounty Curator Proposal, is currently failing.
4. Polkadot Referendum 158, PolkaWorld Ops and Maintenance proposal：2023.10–2024.3, is currently passing.
5. Polkadot Referendum 157, Increase DOT media visibility through media buying and airdrop campaign, is currently failing. AIRDROP.COM aims to increase awareness and understanding of Polkadot’s impressive features, including decentralized governance, low transaction fees, scalability, and cross-blockchain interoperability, through a strategic campaign encompassing knowledge quizzes, informative videos, media buying and a DOT airdrop for users.
6. Polkadot Referendum 156, Polkadot System Parachain Collators — Tips — Referenda #151 failed to execute, is currently passing.
7. Polkadot Referendum 155, Polkadot & Teddy DAO: A New Way to Leverage Charitable Giving in Web3, is currently passing.
8. Polkadot Referendum 154, Retroactive and future maintenance/development of Parachains.info, is currently passing.
9. Polkadot Referendum 153, ink! OpenBrush 8–9, 11 milestone delivery, is currently failing.
10. Polkadot Referendum 150, Bounty: The Genesis Incentive Pool, is currently failing.
11. Polkadot Referendum 148, Notifi — Communication & Notification Tooling for Polkadot’s Broader Ecosystem V2 Proposal, is currently passing.
12. Polkadot Referendum 146, KAGOME — the C++ implementation of Polkadot Host milestone 2, is currently failing.
13. Polkadot Referendum 145, Subsquid — Public data indexing Infrastructure for Polkadot and Kusama (Q2 2023), is currently passing.
14. Polkadot Referendum 141, Increasing Hiring Success in Polkadot by Missing Link, is currently failing.
15. Polkadot Referendum 138, OnFinality High Performance Public Infrastructure (Q3 2023), is currently failing.
16. Polkadot Referendum 137, ink!Hub Treasury Proposal, is currently passing.
17. Kusama Referendum 277, XCM API & XCM SDK 5 months of maintenance and server cost coverage proposal, is currently passing.
18. Kusama Referendum 275, [RESUBMISSION OF REF 273] Bridge Hub Collator Compensation for June, July, and August, is currently failing.
19. Kusama Referendum 272, NFT Mint Dapp for Both Asset Hubs Resubmission of Medium Spender #269, is currently failing.
20. Kusama Referendum 270, Polkashots.io Cloud Costs Remainder January-April 2023, is currently failing.
21. Kusama Referendum 269, Open-source Mint Dapp and Hub wallet for Asset hub, is currently failing.
22. Zeitgeist Referendum 42 Accept HRMP open channel request from Moonbeam is currently passing.

1. Polkadot Discussion 1924 Educational content maintenance proposal by Cryptonitas. This proposal by Cervara seeks funding to sustain educational content production from November 2023 to April 2024, aiming to empower the community with valuable knowledge and practical network utilization skills by adjusting video production quantity and budget to current market conditions.
2. Polkadot Discussion 1923 SubQuery <> Nova Wallet Common API: Maintenance Cost For Q1-Q2 2023. This treasury proposal seeks funding to cover the costs of operating the SubQuery Common API, a crucial tool that provides efficient access to pre-indexed blockchain data, fostering collaboration between SubQuery and Nova Wallet, and benefiting the Polkadot ecosystem by facilitating data accessibility and integration for various projects.
3. Polkadot Discussion 1910 NFT XCM. Unique team is working on a solution, where NFT tokens will be able to move between different parts of the network. Unique team is asking for input and participation from other members of the ecosystem, which will form a working group to make decisions together.
4. Polkadot Discussion 1921 Polkadot Blockchain Academy — retroactive funding for wave 3 of the Academy held at UC Berkeley this Summer. The academy was held at UC Berkeley from July 10th to August 10th, 2023. They educated 75 students, with 55 in the developer track and 20 in the founders track. The goal of the academy is to help more people learn about Polkadot and become developers or founders in the ecosystem. They have online content available and are working on creating more.
5. Interlay Discussion 78 Register BNC on Interlay. This proposal aims to enable Interlay to register Bifrost Native Coin (BNC) to increase the tokens available for incentivizing the Interlay lending market.

• Delegate your DOT or KSM to Polkadotters for easy participation in the on-chain governance via Talisman or Nova wallet
• Strengthen Polkadot by nominating your DOT tokens to POLKADOTTERS, community builders for the Polkadot ecosystem
• Support Polkadotters Shrimp and Polkadotters Octopus on Polkadot and be a part of a more secure Web3 future