Blockchain platform Polkadot has announced the launch of its own “Treasury” – a fund dedicated to funding new projects proposed by the community.
Any DOT holder can propose a project for funding. If the proposed developments help the development of Polkadot, then the project will receive funds. Developers can propose a variety of infrastructure projects, solutions to improve network and ecosystem security, new platform-based applications, and even marketing activities.
Already, Treasury is considering several proposals from Redspot, Centrifuge, Polkasan and Encointer. In addition to development projects, the foundation will fund other community activities such as translating documentation into new languages or creating content related to Polkadot.
The proposals themselves need to be made out in the Polkadot network, however, in order not to increase the requirements for the occupied space, any project documents must be stored off-chain. In addition, to publish the proposal, you must donate 100 DOTs to the fund, which will be returned if approved or will be burned.
Recall that at the end of July, the Polkadot developers announced the complete decentralization of the network and the removal of administrative powers from the non-profit organization Web3 Foundation. Thus, the platform began to be solely driven by the community.