Hi ThomasR,
Is there a breakdown of the treasure spending of the last years. Like which percentage is used for what?
You should read this
So after reading and most important LEARNING what’s going on with the Treasury, there is one fundamental issue:
A- We reward the whole requested amount in a single tx !!!
This should definitely STOP now.
1/ If people are known and have already proved themselves they can deliver milestones, then i’m good.
2/ If they are new/unknown from anyone, then this should not happen.
Let’s say some say:
I want to do this for 10k KSM, provide this tool with these features, in 6 months.
→ I would recommend to have a review process and deliver KSM only after each milestone is assessed/evaluated.
We have now to many examples of people delivering nothing, or being proved to be unused/useless.
Treasury request should now all include a boolean:
Do i want full payment or progressive payment ?
Full payment should be evaluated veeeeeerrryyyy carefully.
Porgressive payment after each milestone (could be in time -after x weeks-, or in feature -after delivering this or that)
How is it possible to implement such a simple thing ?
B- I think we definitely also need to stop funding content creators for specific language content.
It proved to be completely useless.
Several thousands of KSM for Hindhi content ? For Spanish videos ?
Wagmedia can do the same in a better efficient way, involving the community, and requiring way less KSM than these KSM grifters.
Zeitgesit made a bounty so that they can get subtitles into different languages
Result ?
In 1 week everything was done for 4 videos in at least 6 or 7 languages for a few hundreds dollars.
C- Karura’s 20k KSM for aUSD collateral ?
It was a pure gift, with no ROI. 0 return. It’s like we just gave them 20k KSM for nothing. I hope everyone feels rekt for this move.
Borrowing should be the only accepted request (like Bifrost did) to build liquidity.
My personal conclusion
If we ALL start thinking differently, then we’ll definitely change the wrong path the Treasury spending is going.
We all need to be much more reluctant to spend funds.
1/ Better to spend smaller amounts several times (if someone proves to deliver), than a big one-shot/gift of thousands KSM for someone that proved nothing before.
2/ Stop funding useless translation contents or even educational contents, not Treasury’s goal. It can be done indirectly with team like Wagmedia that proved to be efficient for this specific purpose.
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I completely agree with @ThomasR’s point of view that the delivery of projects within the community should be milestone-based, which ensures that the community can receive high-quality products that match their contributions. At the same time, if there are malicious project teams, the risk borne by the community will be minimized.
In addition, I strongly recommend introducing a bidding mechanism that allows other teams within the community to bid on the products and prices proposed by a project team. When a project team sets a budget for its product, other teams within the community can challenge it in a timely manner, competing with better products or lower prices. A benign competitive environment is conducive to market regulation, which ensures that the community can obtain better products or lower expenditures. This competition is economically beneficial for the community. At the same time, this is also a constraint for the bidding team. If a team has no problem with the product but lost to other teams due to insufficient consideration or greed in pricing, then it will be a loss for them. This approach can encourage more thoughtful and rational pricing decisions.
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This is a very good analysis. Many project parties applied for a large amount of KSM and DOT, but unfortunately they did not make real valuable contributions to Polkadot, such as Acala Network. Support for such projects should be reduced.
I also completely agree with what you said. Malicious project parties should be punished, vote to reject their parachains, and post “malicious project” tags to them. Some projects claim to be Polkadot projects to scam.
Only a few projects(acala network…) will affect the impression of external users on the entire Polkadot.
WagMedia and its affiliates have received $2m across Kusama and Polkadot treasuries.
Please share any useful information you have for WagMedia’s onchain impact?
If we assume that the spending led to the creation of 100 new addresses for writers, and then those writers articles led to 10 new and active addresses each through the articles they wrote, we get 1100 new addresses and a CPA (cost per acquisition of $1818 per user.
The fact is there is no data to support even that basic ROI, so I’m interested to learn how the team assess the effectiveness of the spending to date?
The irony that this organisation are the ones attempting to defend the treasury from grifters is ironic to say the least
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Thx for the addition of these interesting data. 
I won’t give the data i haven’t but i guess, if needed, Wagmedia could definitely provide some data.
It’s from far the most active server for content creators in the ecosytem and used by many parachain teams.
Remember i was just saying that “some” of the Treasury requests can be managed into Wagmedia for cheaper prices.
Hello again everyone,
I’m still keen on this discussion and the idea of changing the spending tracks. However, until I can successfully prepare a runtime upgrade to do so, I’m focusing on a Treasury staking solution - one that won’t require a root track referendum.
If you’d like to be a part of this Treasury staking solutions, fill out this form and schedule a time to meet with me this week.
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I just published a follow-up to this post:
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Is there any proposal for treasury diversification? Given that the ecosystem participants need to use fiat for payment it makes sense to manage the treasury based on the short term and long term funding needs and projections.
Sorry, I didn’t see this until just now.
A recent runtime upgrade established the infrastructure necessary to support multiple assets in the Treasury. I think we’ll be seeing asset diversification in the Treasury somewhat soon!