A Better Treasury System

[rich]

This has been mentioned a few times by folks in Parity and as part of @joepetrowski’s Common Good Parachains roadmap:

It has been a long-standing idea within the Polkadot network for the on-chain Treasury to hold many assets, in addition to its native token. One, users making Treasury proposals may want to request funding in other assets besides DOT. In addition, the Polkadot stakeholder community as a whole may want Polkadot to acquire stakes in other assets. By providing the multi-asset support that Statemint specializes in, it can allow more options for Treasury use and management.

And then indirectly in relation to @xlc’s comments on XCM3:

@xiaojie_PolkaWorld

Bryan: XCM v3 adds support for Weight V2, making the execution of XCM messages more secure. In addition, V3 also adds many new features, such as XCM message routing, remote asset locking, remote governance, etc.

If a multi-asset treasury is a way off - for the reasons you mention, then we can still experiment with governance ‘hacks’ of the system, with asset locks on parachains representing designated funds?

@rich

Kusama referendum: 1000 KSM for funding research and development of a new NFT based treasury pallet for Kabocha.

Kabocha referendum: 1000 KAB spend to be approved via simplemajority and sent to statemine account where KSM holders govern its future use.

KAB will later be listed on the Statemine DEX offering a path for KSM holders to recoup its funding - or hold as part of an emerging treasury diversification strategy, which could see further spending in this model.

On-chain structure?

The aim would be to make this a unified multi chain governance process, executed across two democracies - that could develop its own UI/UX for teams to fund their new substrate chain without needing external capital.

How might this work technically is the open question?

What do you think?