PolkaWorld Halts Operations Amidst Governance Concerns

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Key Takeaways

  • As per PolkaWorld, many organizations are being rejected by the treasury and are leaving the ecosystem.
  • The organization expressed concerns about the treasury management within OpenGov, 

In an unfortunate turn of events, PolkaWorld, a prominent community within the Polkadot ecosystem, has announced the cessation of its operations. This decision follows the rejection of the community’s funding proposal by Polkadot’s treasury. The move has ignited discussions surrounding the governance system in the rapidly evolving blockchain network.

PolkaWorld has been a longstanding contributor to the Polkadot ecosystem, but it raised concerns over the management of the project’s treasury, particularly under the newly implemented open governance platform known as OpenGov. The organization argued that this new system was adversely impacting contributors with a long-term perspective.

One of PolkaWorld’s main contentions was that the treasury’s rejection of various organizations was causing them to exit the Polkadot ecosystem. They highlighted a significant departure from the previous governance model, where a council elected by Polkadot DOT holders meticulously evaluated proposals. According to PolkaWorld, this approach was more effective and should be integrated into the current OpenGov framework.

Under the previous governance structure, the council members were experts in various domains, ensuring a thorough and knowledgeable evaluation of proposals. PolkaWorld contends that this expertise should be incorporated into the decision-making process, which is currently governed directly by tokenholders.

https://x.com/0xMarkian/status/1702384661605867759?s=20

Markian Ivanichok, the founder of Brushfam, a platform dedicated to onboarding businesses onto the Polkadot network, echoed PolkaWorld’s concerns. In a social media thread, Ivanichok revealed that Brushfam was also parting ways with Polkadot, citing frustrations with the governance system.

Ivanichok lamented that securing financing had become increasingly challenging, and the ecosystem seemed to disregard users, sound business practices, and effective product marketing.

https://x.com/PolkadotInsider/status/1693316468077904371?s=20

Polkadot introduced the OpenGov system earlier in the year with the aim of giving every tokenholder a voice in the platform’s development. This means that DOT token holders directly manage governance decisions through a voting process, ostensibly making the network more decentralized and inclusive.

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Saniya Raahath
Saniya Raahath

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