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21
Preserving the Polkadot Treasury
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Kusama is our canary net where we can watch and learn about how participants (code testing occurs on test nets like Rococo) behave when financial incentives are involved. We must learn from Kusama's mistakes or be doomed to repeat them on Polkadot.

What was learned from watching OpenGov roll out on Kusama was that voter apathy led to low turn-out allowing several projects to be funded only because token holders were just not paying enough attention (or weren't street smart enough) to say no. This led to the projects that got funded producing treasury dependence instead of value for the community. Some tiny fraction of a percent of eligible tokens expressing their view must not be sufficient to get six figure pay-outs up-front.

The Polkadot referenda queue is currently very bloated with too many requests to be properly reviewed by any single person. The treasury is a honey-pot that attracts grifters that are just sliding in under the radar.

To combat this situation, inspired by the good work of HACN, a small blanket nay vote has been placed on all referenda. I encourage others to also blanket nay and put the onus on those requesting funding to convince the community instead of sneaking from the cookie jar while no-one is looking.

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Lucky Duck

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1 year ago