PolkaWorld Suspends Operations as Founder Criticizes Polkadot Governance Change

A botched funding proposal leads to a pause in one of Polkadot’s prominent communities.

In a surprising turn of events, PolkaWorld, a flourishing Chinese community within the Polkadot network boasting over 50,000 members, has temporarily suspended its operations due to a rejected funding proposal. This setback comes as the community grapples with the implications of Polkadot’s new open governance structure, “OpenGov,” introduced in June.

The funding proposal, submitted by PolkaWorld last month, aimed to secure 16,842 DOT tokens (equivalent to nearly $70,000 at the time) to cover the community’s operational and maintenance costs for the final quarter of 2023. These expenses included further initiatives to promote the Polkadot ecosystem in Asia. Unfortunately, the proposal faced a substantial setback, with an overwhelming 93.3% of the votes cast in opposition, leading to the suspension of PolkaWorld’s activities, as announced on the community’s official Twitter account.

In response to this development, PolkaWorld’s members have raised concerns about the consequences of the OpenGov model on long-term contributors. They pointed out that “This is the first time we’ve had to pause in the four years and three months since we started in 2019,” and attributed the disruption to changes that occurred following Polkadot’s initiation of OpenGov.

The OpenGov model represents a significant shift in Polkadot’s governance approach, granting every token holder a direct vote in decision-making processes. While this approach aims to ensure inclusivity and democratize the governance structure, it has faced criticism for its impact on experienced contributors. OpenGov replaced a previous council system of experts who provided valuable insights in evaluating, approving, or rejecting proposals.

Despite the challenges they face, PolkaWorld took an optimistic stance on Twitter regarding the new governance framework. However, they emphasized the importance of an informed community, stating that “decentralization only works for the informed.” In light of their experience, they encouraged the project to consider reinstating, at least partially, its previous council system.

This development highlights the ongoing evolution of governance structures in the crypto space and the need for careful consideration of their impact on community participation and long-standing contributors. PolkaWorld’s situation serves as a case study of the complexities and challenges that can arise when implementing significant changes in decentralized networks.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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