Polkadot Summit 24' - Governance

Hi all, please see below a write up from one of the Polkadot Summit sessions that was held in Bangkok in 2024.
You can use the polkadot-summit tag to see all the other posts, and navigate to the summary post for a recap of the event.

Session - Governance

Host: Tommi (Alice & Bob)
Twitter: https://twitter.com/alice_und_bob

Short summary of session:

Tommi shared an analysis of Polkadot Opengov and ran a workshop on ways the group could improve governance across three areas, interestingly all three teams brought up better identity solutions as positive changes that could be made to the system.

OpenGov is being used for many different things, including:

  • Forkless upgrates & system config
  • Open HRMP channels, transfer paraleases
  • Unbrick chains, recover DOT from exploits
  • Root track activism
  • Error! Please vote Nay
  • Cancelling and killing referenda
  • Acquire USDT & USDC from HydraDX

Main discussion points:

Currently (at the time of the talk) there have been 539 Open Gov proposals, averaging 2 proposals raised every day, apart from in November where we had a spike of up to 3.3 proposals per day.

300 proposals have been successful, 200 have failed.

28M votes cast on average

^ Treasury balance over time

This quarter will mark the biggest quarter of spending in the history of OpenGov. In the last three months, we will have spent the whole total of last years spend.

The new SPEND() extrinsic brings an exciting change to Polkadot Open Gov for funding long term projects

  • 24d wait to get funds
  • Treasury can spend in any asset from a multi-location
  • Instead of 24d payout cycles payments can be received after a specific block number
  • Claimable for 30d only

Afterwards there was a small workshop where the group split into three teams to brainstorm different ideas about how governance and the system could be improved. As mentioned in the top of the post, each team discussed identity and different ways it could be incorporated into governance.

Some out of the box ideas for improving Polkadot’s Open Gov raised by Tommi

  • On-chain signalling
  • On-chain metadata
    • Reviews
    • Proofs
  • Continuous spending, brought up in the three different ideas:
    • Shawns reoccurring spending
    • Talisman incentive pools
    • Giottos parachain staking