Uniswap

Polkadot

Read

<div class="cryptonews"> 
 <p class="is-style-lead">PolkaWorld has announced its decision to cease operations after Polkadot’s treasury rejected its funding proposal.&nbsp;</p> 
 <p>PolkaWorld, a community in the Polkadot eco<a rel="dofollow" title="system" href="https://thebittimes.com/tag/system.html">system</a>, raised concerns over treasury management under Polkadot’s new open <a rel="dofollow" title="governance" href="https://thebittimes.com/tag/governance.html">governance</a> platform, OpenGov, claiming that it negatively affects long-term eco<a rel="dofollow" title="system" href="https://thebittimes.com/tag/system.html">system</a> contributors.</p> 
 <p>PolkaWorld cited numerous instances where the treasury denied organizations and subsequently left the Polkadot ecosystem. The previous governance system — where a council elected by Polkadot DOT holders evaluated proposals — was more effective and should be incorporated into the current OpenGov model, it argued.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr"> It's super sad to say that PolkaWorld's proposal was rejected, and we've been halted <a rel="dofollow" title="operations" href="https://thebittimes.com/tag/operations.html">operations</a> for half a month now. This is the first time we've had to pause in the four years and three months since we started in 2019. All of these changes happened after @Polkadot initiated… https://t.co/KxqhCRKTXC</p>— PolkaWorld (@polkaworld_org) September 15, 2023
   </blockquote> 
  </div>
 </figure> 
 <p>PolkaWorld emphasized that the former council members were experts in specific areas and had the necessary knowledge to assess proposals effectively. In contrast, the OpenGov system allows all DOT token-holders to participate directly in governance, which may not yield the best decisions due to a lack of specialized knowledge.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Everlodge presale drawing Uniswap and Polkadot supporters 
 </div> 
 <h2 class="wp-block-heading" id="polkadot-aims-for-decentralized-decision-making">Polkadot aims for decentralized decision-making</h2> 
 <p>Meanwhile, Brushfam, a platform facilitating businesses’ transition to Polkadot, announced its departure from the ecosystem. Founder Markian Ivanichok expressed frustration at the difficulty securing financing and claimed their efforts were unappreciated in an ecosystem that “doesn’t care about users, business practices, and marketing its product.”</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">24\ Sadly enough that is rather unproductive or impossible in the ecosystem that doesn’t care about users, about business practices and about marketing its product.</p>— Markian Ivanichok (@0xMarkian) September 14, 2023
   </blockquote> 
  </div>
 </figure> 
 <p>Polkadot’s OpenGov <a rel="dofollow" title="system" href="https://thebittimes.com/tag/system.html">system</a> was launched earlier this year to democratize decision-making by granting every token holder a voice in shaping the platform. DOT token holders can participate in a voting process on proposals aimed at modifying the eco<a rel="dofollow" title="system" href="https://thebittimes.com/tag/system.html">system</a>.</p> 
 <p>The recent developments have sparked debate within the Polkadot community, with some questioning the effectiveness of the OpenGov <a rel="dofollow" title="system" href="https://thebittimes.com/tag/system.html">system</a>. As the situation unfolds, it will be interesting to see how Polkadot responds to these criticisms and whether it will change its <a rel="dofollow" title="governance" href="https://thebittimes.com/tag/governance.html">governance</a> model to retain and attract contributors.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> USDC to launch on Base, Polkadot and four more platforms 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/polkaworld-ceases-operations-criticizes-polkadot-s-opengov-governance-system-tbt62982.html">https://thebittimes.com/polkaworld-ceases-operations-criticizes-polkadot-s-opengov-governance-system-tbt62982.html</a></p>

PolkaWorld ceases operations, criticizes Polkadot’s OpenGov governance system

Table of Contents

TheBitTimes

Other articles published on Sep 16, 2023

Roku Stock Forecast: Can CHoCH Lead To (NASDAQ: ROKU) Downfall?

Factors Smashing the Country and its Economic Consequences

Atari Founder Cited, Play-to-Earn Games Stuffing Hate for Crypto

German Finance Leaders Launch Fully-Insured Crypto Staking

Mark Cuban loses $870K in MetaMask-related crypto scam

Altcoin Market could see a 30% DROP! Top 5 Altcoins for Potential Gains

Join our free newsletter for daily crypto updates!