Dear Polkadot community members:
As we begin our second tenure in the DV program as part of Cohort III, the Lucky Friday team would like to unequivocally state the following voting principles in a public manner so that all current and future referenda proposers are aware of our stance on these matters ahead of time.
Much like we provided our parameters for supporting top up proposals due to a decline in DOT price roughly 5 months ago, we would like to address a few key areas so that all OpenGov participants understand our rationale for why we may vote NAY despite the proposal possibly being noteworthy on its own merits.
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While it has been the subject of internal debate, we have decided to yield to the broad social consensus among ecosystem participants to pay for things with stable coins rather than DOT. To that end, we believe it is best to ask for USDT or USDC (preferably whichever has a greater amount in the treasury at the time of submission) for proposals that are valued at $750K or less. These amounts are easy to absorb (broadly speaking), but we also realize that there may be exceptions to this rule such as when Centrifuge asked for a larger amount to deploy in tokenized US treasuries. Amounts that are beneath this threshold of $750K will be automatically rejected by our team if seeking DOT.
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The only exception to the above rule, however, will be for the establishment or maintenance of bounties, which we understand cannot handle stable coins at this point in time.
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Any proposal that is expressly for marketing, events, or meetups must go directly to those curators for consideration. If it is submitted to OpenGov before any of those respective bounties, they will be summarily rejected by our team.
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In the event that marketing, events, or meetup requests are not funded by the curators of those respective bounties, our team will also reject them should they come to OpenGov. We believe these curator teams have been chosen due to their social reputation and activism for the ecosystem, and we do not believe it is right to subvert the judgment of them or the will of the community that empowered them in this capacity.
Beyond the above statements, Lucky Friday will continue to operate under the publicly declared voting philosophy that we posted back in May of this year. If you are a new participant in OpenGov, you may read those 5 principles HERE.
We are excited to serve the community again in this capacity, and we welcome any and all delegations you would like to make to our Lucky Friday Governance address; should you want to delegate to us, you may do so here: 12pXignPnq8sZvPtEsC3RdhDLAscqzFQz97pX2tpiNp3xLqo
On behalf of the entire Lucky Friday team, I would like to extend an open invitation to any OpenGov participants to our OpenGov Public Forum on Telegram and also remind everyone to please keep all conversation about ongoing discussions or referenda in this group chat for the sake of transparency and to prevent individual DMs being sent to our team members.
Thank you in advance and see you in the arena!
Ryan / Phunky 