PolkaWorld Has Halted Operations After It Failed Funding Bid


PolkaWorld, the community of Polkadot, recently announced that it had halted its operations after the proposal from the community to get funding from the treasury was rejected. The organization had raised quite a few concerns about the treasury management of the project and had also made quite a few claims in a recent announcement.

In a post that was published on the official X account of the company, the organization claimed that the treasury management under the new open governance platform, OpenGov, was affecting the long-term contributors to the ecosystem of Polkadot. According to PolkaWorld, quite a few organizations were being rejected by the treasury and were also leaving the ecosystem of Polkadot. 

PolkaWorld Vows To Leave Polkadot After Concerns Raised

The organization went on to point out that in the previous governance system, there was a council that was elected by Polkadot holders. The council members were also experts in quite a few areas, and were also knowledgeable in the evaluation of proposals, according to PolkaWorld.

The organization believed that this should have been integrated into the current system of OpenGov, where the governance was decided by the tokenholders directly. At the same time, Markian Ivanichok, the founder of Brushfam, which onboarded most of the business to Polkadot, also announced that the project was leaving Polkadot in a thread made on X. 

In the thread, Ivanichok and other PolkaWorld members claimed that it was quite impossible to get the work appreciated- specifically in an ecosystem that really didn’t care about its users, business practices- and also about marketing its product in the first place. The OpenGov system of Polkadot had been launched in the early part of the year and was said to grant every tokenholder a voice in shaping the platform to what it was currently. Within this, the governance of the network was also carried out directly by the DOT token.