PolkaWorld Ceases Operations After Funding Rejection in Polkadot Community

PolkaWorld Ceases Operations After Funding Rejection in Polkadot Community

The Polkadot community's PolkaWorld has recently announced the suspension of its operations following the rejection of its funding proposal from Polkadot's treasury. This decision comes with several concerns and claims regarding the management of the project's treasury under Polkadot's new open governance platform, OpenGov.

In a post shared on PolkaWorld's official communication channel, the organization expressed its worries about the impact of treasury management under OpenGov on long-standing contributors to the Polkadot ecosystem. According to PolkaWorld, numerous organizations are facing rejection from the treasury, leading them to exit the Polkadot ecosystem.

One of the key points raised by PolkaWorld is the difference in governance between the previous system and OpenGov. In the past, Polkadot had a council elected by DOT token holders, consisting of experts in various domains who evaluated proposals. PolkaWorld suggests that incorporating this expertise into the current OpenGov system, where governance decisions are made directly by tokenholders, would be beneficial.

In a related development, Markian Ivanichok, the founder of Brushfam, a platform that facilitates the onboarding of businesses to Polkadot, announced in a public thread that his project is leaving the Polkadot ecosystem. Ivanichok expressed frustration with Polkadot's governance system, noting that obtaining financing had become increasingly challenging. He further mentioned that the ecosystem seemed indifferent to users, business practices, and product marketing.

Polkadot introduced its OpenGov system earlier in the year, aiming to give every DOT token holder a voice in shaping the platform's future. Under this system, governance decisions are made through direct participation and voting by DOT token holders on proposed changes within the ecosystem.

The situation highlights the challenges and complexities associated with open governance systems in blockchain networks, as they seek to balance decentralization, community input, and effective decision-making. The Polkadot community will likely continue to evolve its governance mechanisms to address the concerns raised by projects like PolkaWorld and Brushfam, as they strive to strike the right balance between decentralization and effective project funding and management.

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