PolkaWorld has announced its decision to cease operations after Polkadot’s treasury rejected its funding proposal.
PolkaWorld, a community in the Polkadot ecosystem, raised concerns over treasury management under Polkadot’s new open governance platform, OpenGov, claiming that it negatively affects long-term ecosystem contributors.
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.
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.
Polkadot aims for decentralized decision-making
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.”
Polkadot’s OpenGov system 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 ecosystem.
The recent developments have sparked debate within the Polkadot community, with some questioning the effectiveness of the OpenGov system. As the situation unfolds, it will be interesting to see how Polkadot responds to these criticisms and whether it will change its governance model to retain and attract contributors.