Polkadot Governance News #15 FEB24: Polkadotters took part in Decentralized Voices program
Welcome to Polkadot Governance News #15 FEB24. Let's start with an amazing announcement. Recently, Polkadotters were announced as a part of Web3 Foundation Team’s Decentralized Voices Program, marking a significant milestone in our journey to contribute harder to the Polkadot OpenGov. We are in very good company in the program, other participants are ChaosDAO, Saxemberg, Jimmi Tudeski, Kukabi, William and Polkaworld.
Since the summer of 2020, we’ve been actively engaged in Polkadot, with a clear mission: to elevate Polkadot governance and support a vibrant ecosystem driven by community initiatives. Our commitment involves closely monitoring OpenGov proposals, participating in the Polkadot Forum, analyzing discussions, and actively contributing to the dialogue, all while keeping our readers informed.
Let's get back to our Governance News. By fostering collaboration with Polkadot experts in the community spotlight, we’re confident that we can bring additional value to the Polkadot OpenGov, which will pave the way for a more equitable and prosperous future for all stakeholders involved.
Content:
1. Referenda Digest
1. Polkadot Referenda 514: Conor Daly — 2024 Indianapolis 500 Sponsorship
- Secure funding of 290k DOT, ~$2.1M for Conor Daly sponsorship to race in 3 professional series, including Indianapolis 500, NASCAR Truck Series, and Nitro Rallycross
- Promotes Polkadot through major racing events, enhancing brand visibility
- This will result in increased brand exposure and community engagement
- Requested amount: 290 000 DOT
Polkadotters opinion: AYE. This proposal presents a unique opportunity to elevate Polkadot’s visibility on a global stage through high-profile racing events. With Conor Daly, the exposure generated during races like the iconic Indianapolis 500 can significantly broaden awareness of the Polkadot ecosystem, particularly in regions like North America where its presence may be underrepresented. We are not saying, that we need to fund all of these kind of requests. While 290k DOT is a huge amount, but we still think it's worthy and this kind of attention will introduce Polkadot to a wider audience.
2. Polkadot Referenda 502: Futarchy, a New Signal Generating Tech for Polkadot Governance
- This proposal aims to address the problem that Polkadot’s governance lacks participation and data-driven decision-making
- The proposed solution is to integrate combinatorial prediction markets into Polkadot’s governance to make it more participatory and data-driven
- Requested amounts: 93,962 DOT
Polkadotters opinion: AYE. This proposal signifies progress for Polkadot’s governance via Zeitgeist’s futarchy model, despite implementation challenges. It presents an opportunity for improved decision-making and sets a precedent for decentralized governance. Let’s pioneer new governance models as Polkadot has done before!
3. Kusama Referenda 343: Set BEEFY genesis (thus starting BEEFY consensus on Kusama)
- This sets BEEFY genesis to the next block after it executes, thus enabling BEEFY consensus on Kusama
- This proposal is important for the successful implementation of the Kusama<>Ethereum Snowfork bridge
Polkadotters opinion: AYE. The successful application of BEEFY consensus on Kusama, and its future deployment on Polkadot, represents a significant step forward for interoperability in the ecosystem. This proposal is crucial for the seamless operation of the Kusama<>Ethereum Snowfork bridge, highlighting Polkadot’s commitment to advancing cross-chain connectivity. We've been waiting for it for quite some time and now it's happening!
PS. This referendum has been already approved and executed.
4. Fellowship Collectives referenda 74: Burn revenue from coretime sales
- Polkadot Fellowship Referendum 74 executed by Technical Fellowship
- Initiates coretime sales with burning mechanism, adding deflationary pressure to DOT
- Future changes to revenue destination subject to OpenGov referendum, per token holders’ discretion
Polkadotters opinion: AYE. Coretime burn introduces a deflationary mechanism, reducing the overall supply of DOT tokens over time, potentially increasing their value. The other idea was to add the revenue to the treasury, but those DOT tokens will be then spent as treasury rewards and sold by the teams, so it could lead to additional selling pressure of DOT.
PS. The Polkadot Fellowship Referendum 74 has passed and has been already executed by the Technical Fellowship.
2. Community Spotlight
In the community spotlight, we focus on important members of the OpenGov community commenting on actual or recent referenda.
In this edition, we asked Filippo Franchini, technical educator at Web3 Foundation, for his views on ref. 514, Conor Daly — 2024 Indianapolis 500 Sponsorship.
Referenda 514 summary: By approving this referenda, Conor Daly will get approved sponsorship to race in 3 professional series, including Indianapolis 500, NASCAR Truck Series, and Nitro Rallycross for 290k DOT, ~$2.1M.
Filippo Franchini: Big YES! I fully endorse this referendum. While the price tag may seem high, the potential impact is significant. Conor Daly boasts a substantial following on Twitter and regularly engages with his audience through daily posts and videos, making him a genuine and relatable figure. The partnership offers immense exposure, particularly through televised racing events, and the timing aligns perfectly with the current bullish market sentiment. With Daly’s active presence on social media and the potential for extensive press coverage, I’m genuinely excited about the opportunities this sponsorship presents.
3. Polkadot Forum View
1. dAppForge: AI-powered plugin for Polkadot developers that reduces development time
dAppForge is an AI plugin aiming to streamline development for Polkadot’s ecosystem. Focused on substrate and ink!, it promises faster dApp, appchain, and parachain creation, reducing entry barriers for new developers.
With advanced error handling and code auto-completion, it seeks to outshine existing tools like ink! Analyzer and Subtrate plug-in. The roadmap includes VS code integration and future expansions to support solidity developers.
2. UX Proposal: Consensus-Based Address Formats
The UX Proposal by Joe Petrowski suggests standardizing address formats across Polkadot parachains for user clarity, requiring chains and UIs to adapt.
The goal is to make addresses uniform across the network, enhancing user experience and reducing confusion. While it requires adjustments, it aims to simplify interactions within the ecosystem without migrating state data.
4. Final Word, Meme Time
Few
- 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
