The Web3 Foundation is now implementing a strategy of selective voting on proposals related to the Treasury.
Given the growth in the number of proposals and the funds involved, the goal is to enhance careful review and
accountability. The Foundation will share its perspectives on proposed projects and the reasoning behind its voting
choices, encouraging better-informed decision-making across the community.
Reasons for W3F Involvement
Polkadot has evolved into a self-sustaining ecosystem, where numerous independent contributors are working together for
the betterment of the network. The Web3 Foundation is part of this larger collaborative effort. As the treasury size
and proposal frequency have increased, so has the scope of individual proposals.
The OpenGov system gives the community increased power but brings challenges as well. In its voting process, the
Foundation will apply the principles it uses for grant allocation, which include defined criteria and rationales made
available to the public.
Specifically, the Foundation intends for this process to:
Safeguard the treasury. The Foundation will vote against proposals lacking clear
benefits to Polkadot, those with poorly defined objectives, wasteful spending, or those that duplicate existing
initiatives.
Bolster community trust. Consistent and transparent voting criteria will foster
greater confidence in treasury decisions. By openly sharing the reasoning behind each vote, the Foundation aims to
demonstrate that decisions are made impartially and in line with the long-term interests of Polkadot.
Operational Guidelines
The Web3 Foundation’s Funding Committee will adhere to established criteria when determining how to vote on treasury
proposals:
Prioritize Strategic Funding. The Committee will concentrate on strategically significant
projects that have a substantial influence on the ecosystem. Although they will focus on larger proposals, they may
vote on smaller ones (approximately under $10,000) when there is clear relevance or precedent. This focused approach
optimizes the committee’s time and avoids excessive involvement in smaller-scale community spending.
Avoid Conflicts of Interest. The Foundation will not vote on proposals that directly
benefit the Foundation, related entities, or where a conflict of interest exists. This aligns with protocols used in
other programs. For example, Decentralized Voices delegates are required to abstain under such circumstances. The
Foundation’s voting decisions will be solely in the best interest of the network.
Discourage Short-Term Focus and Promote Fiscal Responsibility. Taking a broad, long-term view,
the Foundation will serve as a counterbalance against proposals driven by short-term or speculative gains. Support
will be given to initiatives that offer lasting value and show financial discipline. Conversely, the Foundation will
oppose proposals that seem to misuse treasury funds or lack adequate justification.
Unwavering Transparency. Each vote will be accompanied by a rationale and a clear
description of the criteria used, ensuring it is transparent and open for public review. This approach will enable
the community to understand the basis for each decision and provide input, which the Foundation will use to improve
its processes over time.
Voting Approach
The Web3 Foundation will vote as one participant among many, guided by clear, published criteria and transparent
reasoning, in line with its mission to support and expand the Polkadot ecosystem. Specifically, this means:
Treasury Protection: The Foundation will only support proposals that provide clear and
unambiguous benefits to the Polkadot ecosystem. Ideal proposals will include clawback mechanisms or milestones based
on demonstrable usage, as well as on-chain safeguards should milestones not be met. The Foundation intends to be
highly selective regarding projects with minimal direct impact on Polkadot usage, with respect to utilizing DOT from
the Treasury.
Transparent Referenda: Treasury proposals need to be clear concerning milestones, timelines,
and budget. These should clearly explain the benefits to Polkadot and its ecosystem participants. Furthermore, they
should include remedies or contingency plans to deal with missed deadlines or milestones. Examples might include using
third-party escrow services or a multisig arrangement with external curators, with fund release contingent on
deliverables.
Limited Acceptance of Unproven Teams: Given the high level of trust placed in recipients of
Treasury funds, proposals from anonymous, pseudonymous, or inexperienced teams will likely require strict safeguards.
Thoughtful Voting: Usually, the Funding Committee will wait for initial community reaction
before casting their vote. The Foundation does not intend to vote at the very beginning of a voting period unless the
proposal has extreme urgency. The goal is to allow for a natural community consensus to develop, and to make sure
the Foundation’s vote is informed by community input, and not a preemptive influence.
Exceptions for Urgent Matters. In situations with critical timing needs, such as
security-sensitive spending, the Foundation may vote earlier, providing a clear explanation.
Transparency and Ongoing Steps
This initiative places significant importance on accountability. As mentioned, a public statement will accompany each
vote, detailing the considered criteria such as impact, feasibility, budget reasonableness, and alignment with
Polkadot’s objectives. The rationale behind supporting, rejecting, or abstaining from a proposal will also be
provided. The community is encouraged to assess these rationales and provide feedback to help the Foundation refine
its criteria.
The Decentralized Voices (DV) initiative, where the Foundation delegates its voting power to community members, will
continue alongside these efforts. DV has proven successful in increasing community involvement, providing stricter
oversight of treasury spending, and engaging a broader range of voices in governance.
The Foundation is currently reviewing the DV program to optimize its effectiveness based on community input. W3F is
dedicated to exploring methods to bring more voters into the ecosystem through delegation programs, community outreach,
education, and improved governance tools. The overarching aim is to strengthen Polkadot’s decentralized
decision-making processes and promote a robust, active base of DOT holders.
All DOT/KSM holders are urged to vote or delegate their tokens. Begin with the
OpenGov overview, then follow this
step-by-step guide
to participate through Polkassembly/Subsquare. Live referenda can be explored on
Polkassembly/Subsquare, where votes can be cast or delegation can be managed.
In Conclusion
The Web3 Foundation moves forward with this initiative with a sense of responsibility and respect. They view themselves
as one of many parties with an interest in the Polkadot ecosystem. By following these guidelines, the Foundation
hopes to lead by example, illustrating how to participate constructively and transparently for the common good.
Thank you for your support, and see you on-chain!