PolkaWorld Halts Operations

PolkaWorld, a prominent participant in the Polkadot ecosystem, has temporarily suspended its operations following the rejection of its proposal. This marks a significant interruption for the platform, which had been operating continuously for over four years since its inception in 2019.

Polkadot’s OpenGov

The setback comes in the wake of Polkadot’s introduction of the #OpenGov initiative, an ambitious effort aimed at decentralizing and democratizing the governance of the Polkadot network. Spearheaded by Polkadot’s founder, Gavin Wood, OpenGov was envisioned to enhance transparency and efficiency in the network’s Treasury operations. However, it appears that the most contentious issue arising from OpenGov is its impact on treasury management. Many long-standing contributors and organizations within the Polkadot ecosystem are facing rejection of their proposals, which has prompted some to exit the ecosystem altogether.

One of the key criticisms centers around the elimination of the “professional” council from the original governance system. Under this system, DOT holders elected experts with specific domain knowledge to evaluate proposals. Some argue that this approach should have been retained or integrated into the OpenGov framework, as decentralization may not be suitable for all contributors.


Treasury Dilemma

PolkaWorld also conducted interviews with DOT holders who expressed concerns about proposals that involve converting treasury funds into cash. Such proposals have faced resistance from those who view them as detrimental. There have been suggestions that the treasury explore alternative forms of funding, such as stablecoins like #USDT or other tokens. It’s essential for all DOT holders to recognize that the treasury’s primary purpose is to empower and enrich the Polkadot ecosystem. If the implementation of OpenGov leads to the departure of talented teams and contributors, it could be counterproductive.

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Despite the challenges, there is a call for optimism and adaptability within the Polkadot community. OpenGov, while not without flaws, is seen as an upgrade and optimization for the network. It is suggested that the community collectively guides the system in the right direction instead of abandoning it. PolkaWorld, for its part, has committed to updating its proposal based on community input, urging voters to cast their ballots based on genuine assessment rather than following the crowd.