In the Gavin Wood interview: Is Polkadot’s OpenGov Democratic？
He was talking about the Polkadot treasury holding other assets (Crypto, or even other commodities).
Treasury Investing and participating in parachain tokens
That suggestion made me think. What if the Treasury can hold one of its parachains tokens.
And a step further. Actually participate and further decentralizing Polkadot and that ecosystem with the tokens by running a node on that parachain. The node itself generates an income. It does have its costs (VPS and a small team for maintenance). I checked my thoughts with the node community and they did have a positive stance towards the potential proposal.
So a Treasury proposal would be (example)
- 10000 DOT for purchasing the parachain tokens which will Remain the property of the Treasury
- 1000 DOT for VPS
- 1000 DOT for Maintenance (non profit)
12000 DOT in Total
Question before Treasury Proposal
Purchasing and setting up a node as a person or small team is quite easy. However with the Treasury involved it becomes a bit more challenging. Some questions would arise before making any kind of proposal
- Can the Treasury hold a different token on its balance. If so How much would be allocated for investment in different assets (in total and specific).
- Can the purchasing and holding of the other token be 100% delegated to the Proposer(s)
(proposal for x amount of DOT, DOT being sold on exchange.Buy other Token Transfer to Wallet and setup Node)
- If there was any sort of delegation would there be specific requirements (multisig wallet. With an independent treasurer or 3rd party involved?)
- Would it be needed to make a financial report every quarter for the treasury (status of the investment)
- Who decides if the ecosystem token needed to be sold. After all it is an investment.
Thank you if somebody knows some answers or can provide some guidance, before we would submit a proposal.