Polkadot Unveils Its Q3 Treasury Overview: $153 Million Held in Reserves with $27 Million Utilized
In Brief
The Polkadot community has shared its latest Treasury overview for the third quarter, detailing how its funds are being utilized.
The community surrounding this multi-chain network Polkadot (DOT) has recently presented its financial report for Q3.
The findings indicate that Polkadot's Treasury boasts a total of $153 million, or the equivalent of 33.3 million DOT, with $109 million, which is about 23.7 million DOT, set aside for expenditures. Additionally, $6.6 million of these reserves are kept in stablecoins, while a portion of 6 million DOT, roughly valued at $28 million, is earmarked for automated stablecoin purchases.
When it comes to spending, the Treasury disbursed around $27.3 million, translating to about 5.1 million DOT in the third quarter of 2024—this marks a significant drop to half of what was allocated in the second quarter, with total expenses halving from $58 million to $27 million, while DOT-based expenses decreased from 8 million DOT to 5.2 million DOT. Notably, spending on outreach initiatives saw the steepest decline, falling from $27 million to $9.9 million. Conversely, developmental expenditures remained rather consistent, with a slight rise from $10 million to $11.9 million, while operational costs stabilized at about $1.4 million. There was an increase in spending on talent and education, which rose from $2.3 million to $3.8 million, whereas research funding dipped to its lowest point this year, decreasing from $1.5 million to just $310,000. Importantly, no economic stimulus proposals were approved in this quarter.
Additionally, $34 million, or 7.4 million DOT, has been allocated to various executive bodies within Polkadot for strategic initiatives targeting marketing, decentralized finance (DeFi) tools, gaming, and business growth.
In the realm of market operations, Polkadot designated $10 million, or 2.2 million DOT, of its assets as liquidity across four distinct DeFi blockchains, which is part of its market strategy. The Polkadot DAO adjusted its spending patterns following periods of elevated expenditures, aiming for a more prudent approach. Furthermore, a decrease in inflation is anticipated, which could provide more stability to the Treasury's revenue.
Polkadot Treasury: Overseeing More than $150 Million Across Seven Distinct Blockchains
This multi-asset and multi-chain solution effectively handles upwards of $150 million across a variety of seven blockchains. Polkadot The governance architecture of Polkadot is progressively broadening, reflected in the growing number of executive entities receiving resources from the Treasury. Ongoing capital deployment is taking place across four separate DeFi blockchains within the Polkadot ecosystem.
Remarkably, the Treasury has executed its inaugural active asset swap, converting 1 million DOT into an equivalent amount of MYTH tokens , part of the continuous integration of the Mythical gaming chain within the Polkadot network.
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