DOT’s OpenGov? (July 14th to July 20th)

Jul 23, 2024

While the future governing body of the land of the free is potentially on course to embrace Web3, Polkadot, the largest DAO in Web3, celebrates the milestone of reaching its 1000th OpenGov referendum.

To celebrate this momentous occasion, we will take inspiration from The Kusamarian and present a double feature about governance for this week’s top story. Our aim is to provide an insightful overview of OpenGov, as well as developments in governance adoption across Polkadot parachains.

Similarly to the power of decentralized governance, the power of memes can have a profound impact on communities. WagMedia’s 31st bounty from the Bounty Hub, to be posted in the meme channel, focuses on producing a creative logline relating to Polkadot, chickens, and OriginTrail.

It’s certainly a quick way of getting involved in WagMedia and potentially opens up your mind to content creation, so keep your eyes peeled for the next one by following us on our socials.

As mentioned last week we are currently welcoming feedback as we begin to prepare for funding via OpenGov to continue the WagMedia mission.

The full newsletter can be enjoyed via this link.

Dodow, Chief Editor

Top Story of the Week Part 1 - Wag is OpenGov

Written by yay.oi

This week we’re celebrating a landmark achievement of 1000 referenda on Polkadot OpenGov. To commemorate the event, Distractive have proposed Wish for Change Referendum #1000, honoring the continued endurance of Polkadot’s core strengths: true decentralization, a pioneering spirit of continuous innovation, and a thriving community of developers, projects, and users, embodied in an on-chain remark, “Polkadot 4lyfe”.

True decentralization is reliant on effective governance, which ensures that the power to effect change in the ecosystem is granted to the stakeholders rather than any central authority. This approach fosters transparency and trust within the community and can ensure that a protocol can adapt and evolve according to both the needs of its users and the evolving technological landscape.

Protocols such as Bitcoin and Ethereum conduct their governance off-chain, meaning that critical decisions are made through informal means such as online forums and developer meetings. This approach can lead to struggles in adaptability, with resistance coming from various factions in the community, and also lacks mechanisms for enforcement.

Polkadot, however, avoids these issues by conducting governance on-chain, meaning that decisions are effected directly and immutably upon approval. That said, governance in the Polkadot ecosystem has not been a smooth ride by any means, but the mechanisms are in place to allow it to adapt and evolve over time.........….

Check out our full newsletter for the full story

Top Story of the Week Part 2 - Gov DOT Parachains

Written by Sanchez

Polkadot is renowned for having the most sophisticated governance in Web3, a view supported by many industry experts. The Polkadot OpenGov system, just over a year old, recently surpassed one thousand submitted proposals. Although imperfect, ecosystem participants continually strive to enhance and refine the governance process.

Polkadot's parachains inherit the governance capability given the modularity of the Substrate Framework (aka the Polkadot SDK). As recently reported by the Kusmarian, rollups, otherwise known as parachains, have been pushing governance to varying degrees.

Hydration has had the most referenda activity, with 167 referenda since the launch of their governance. Bifrost closely follows with 145, with Interlay coming third with 115. While these are low compared to the figures on Polkadot, there is significant room for improvement in governance on the parachains.

Some parachains still hold Sudo keys and have not yet fully decentralized their networks to empower their communities. Astar Network retains its Sudo keys butappears poised to implement Gov1 for its governance.........….

Check out our full newsletter for the full story

News from the Finders Program Part 1

Written by Sanchez

Kaiser Network joins the Peaq ecosystem, aiming to help AI projects access GPUs by enabling anyone to lend their idle GPUs to these projects.
Moonbeam partners with Picnic, a non-custodial DeFi application, to streamline the crypto onboarding process for Brazilians to Polkadot. Picnic enables access from 7 different chains to Polkadot. It will ease the integration of the BRLA stablecoin, which is pegged to the Brazillian Real.
Robonomics has won parachain slot auction 75 through a self-funded bid. With plans to keep the Robonomics Kusama parachain running, Robonomics intends to launch its commercial Roboservice, which will be used in Cyprus and connect with more Polkadot parachains before the end of the year.
The MVP for the Age of Chronos game has been released. With over 350 unique minters, interested players can still mint the NFTs for free and jump into the game.
Gavun Wud has partnered with the Kusamarian to release the Flappy Wud 1.1 NFT edition. The conditions for the NFT drop, limited to one per player, include a user's WUD balance and a cumulative score of 3000.
Bifrost has introduced a revenue-sharing mechanism to share protocol revenue with token holders. This is one of the changes in their new tokenomics, BNC 2.0.
Zenlink has launched Eden, a yield marketplace on the Moonbeam Network. Eden, a Pendle fork, will allow users to tokenize their yield-bearing assets into standardized yield tokens (SY), principal tokens (PT), and yield tokens (YT), enabling users to earn fixed yield, increase their exposure more yield or earn yield from LPs.

More here

News from the Finders Program Part 2