Introduction

Welcome to another edition of Polkadot Referendum Roundup.

In the latest Referendum Roundup, hot topics include an upcoming runtime upgrade that will significantly extend conviction voting lock periods. This change caught our eye, as it will impact token locking strategies for OpenGov participation. It is very important to at least be aware of this change, as it will impact every Polkadot OpenGov voter.

Besides that, we’ve caught a thread about Gavin Wood, which provides insight into factors influencing whale votes. Plus, an innovative Polkadot Sanctuary project in Indonesia highlighted in our AAG Spotlight.

Onwards.

Treasury Update

• The current treasury balance of 44.31M DOT represents a decrease of approximately 1.60% from last week's balance of 45.03M DOT.

Executed proposals

Medium Spender

• Referenda #216: Milestone 3 Proposal: Polkadot x EasyA Hackathons at Harvard and in London (#60DaysOfPolkadot) | 54.75K DOT | Confirming 13hrs 4mins ago.

• Referenda #219: BlockchainBrad Educational & Journalist Content - 6 Months funding | 14,165 DOT | Executed 9hrs 44mins ago.

• Referenda #215: Smoldot development financing Q4/2023 | 18.98K DOT | Executed 1d 17hrs ago.

• Referenda #209: [Retroactive Funding] Dotinsights - A Research Hub & Data Platform for Polkadot & Kusama Ecosystem | 42,650 DOT | Executed 2d 20hrs ago.

• Referenda #207: Go-Substrate-Rpc-Client - Retroactive Maintenance Grant (Sept 2021 to Dec 2023) | 24,474 DOT | Executed 1d 22hrs ago.

Big Spender

• Referenda #201: KAGOME – the C++ implementation of Polkadot Host milestone 2 | 168.43K DOT | Executed 1 day 18 hours ago.

Rejected Proposals

•  Referenda #188: ELLIPAL Self-custody Cold Wallet 1 Proposal: DOT/KSM Tokens, Staking,ASTR & GLMR Parachains&Tokens,DOT/KSM/ ASTR/GLMR Swap,WalletConnect v2,Polkadot Wallet Integration | 33,943 DOT | Rejected.

Current Proposals

Medium Spender Queue

• Referenda #251: TuPrimerBitcoin: Creation of quality content for Spanish-speaking Polkadot ecosystem | 17,765 DOT | Deciding 18hrs 44mins ago.

• Referenda #250: Bounty Proposal: Business Prospects for Polkadot in Brazil | Approve Bounty | Deciding 21hrs 15mins ago.

• Referenda #248: substrate-etl Retroactive funding: Q3+Q4 2022-Q1+Q2 2023 | 99,025 DOT | Deciding 2d 11hrs ago.

• Referenda #247: PR, Content marketing, Social amplifications proposal | 21,400 DOT | Deciding 6hrs 59mins ago.

• Referenda #245: Milestone 4: Polkadot Hackathon Global Series 2023 APAC Edition | 10.89K DOT | Deciding 4d ago.

• Referenda #242: Retroactive & Ongoing Funding Rationale: Republik Rupiah - Turning Indonesia into the Polkadot Island's With Education and Community | 16,182 DOT | Deciding 5d ago.

• Referenda #237: Retroactive Funding - Polkasafe Revised Proposal | 33.12K DOT | Deciding 8d ago.

• Referenda #228: Non-custodial DOT payments integration for major eCommerce platforms | 59.75K DOT | Deciding 12d ago.

• Referenda #224: Proposal: Funding for the Brazilian Portuguese Language Content Producers Group | 17,000 DOT | Deciding 13d ago.

• Referenda #223: Polkadot Pulse 1.0 & Polkadot Networking Night @ IBW, ETHIndia Week | 24,701 DOT | Deciding 13d ago.

• Referenda #213: KryptosChain Media (The Next Level!) - 6 Months of funding | 22,687 DOT | Deciding 2d ago.

• Referenda #255: Altcoin Daily - High impact Polkadot media promotion | 21.22K DOT | Preparing 1h 25mins ago.

Big Spender Queue

• Referenda #238: IBC x Largest Polkadot Developer Outreach Proposal | 82.14K DOT | Deciding 4 days ago.

• Referenda #236: Events Bounty V2 Curator Candidacy | proposeCurator | Deciding 5 days ago.

• Referenda #234: Polkadot @CoindeskConsensus 2023, April 26-28, 2023 in Austin, Texas | 137.77K DOT | Deciding 8 days ago.

• Referenda #229: [VOTE NAY - RESUBMISSION IN PROCESS] Activation and retention of developers in Turkey and India for the Polkadot Ecosystem | 138.71K DOT | Deciding 11 days ago.

• Referenda #205: Treasury Proposal: Parachain Loan Financing (PLF) Kapex Parachain | 592.57K DOT | Deciding 23 days ago.

• Referenda #235: Invalid: Events Bounty V2 Curator Candidacy | 1M DOT | Preparing. (will time out)

AAG Spotlight

• IMPORTANT: Polkadot is set to undergo a runtime upgrade that will significantly extend the lock-up periods for conviction voting. This change corrects an initial misconfiguration, aligning lock-up durations with their intended lengths. For instance, a 4x conviction level, which currently locks tokens for 56 days, will see an increase to 224 days. At a 6x conviction level, the lock-up period will jump from 224 to a substantial 896 days.
  
  This is a crucial update for all Polkadot OpenGov participants. The changes are not retroactive, so participants have an opportunity to adjust their conviction levels before the upgrade is implemented. It's essential for all involved to review their current conviction settings and make any necessary adjustments to avoid unexpectedly prolonged lock-up periods. This update emphasizes the need for staying informed and proactive in the evolving Polkadot ecosystem. For more details and community reactions: Extended Lock Periods for DOT Votes

• The recent proposal featured on The Kusamarian shines a spotlight on the innovative and impactful efforts of Six (Polkadot Head Ambassador) and Gabo (Polkadot Ambassador) in the Asia-Pacific (APAC) region. The focal point of their efforts is the "Polkadot Sanctuary" in Denpasar, Bali, Indonesia – the first dedicated physical space for the Polkadot ecosystem.

Governance in Action

• Polkadot community member Leemo highlights that an upcoming runtime upgrade will increase conviction voting lock periods by 4x. For example, a 5x conviction vote will require a 448 day lock instead of the current 112 days. Leemo advises voters to lower conviction levels on any active referenda ending after the upgrade to avoid unintended extended lock periods.

• Gavin in action: A recent analysis by @TheDolpha on X reviewed Gavin Wood's voting history in Polkadot OpenGov referenda and found that he has voted selectively on major proposals, playing a decisive role in some outcomes. Wood tended to vote more liberally on smaller funding requests but scrutinized larger asks more closely, being particularly concerned about accountability.
  
  His voting aligned with an overall philosophy that the treasury should be spent judiciously rather than viewed as a venture capital fund. The analysis provides insight into how a key stakeholder approaches governance participation. See the full thread for details.

Closing Thoughts

The extended lock period for conviction voting is likely to impact strategy, requiring more long-term conviction or lower multipliers to avoid unanticipated lock-ups. This is a good reminder to stay nimble as parameters evolve.

As proposal volume increases, we may see enhanced selectivity in approvals and formalized frameworks introduced for content creation funding requests. The community aligning around standards will be key.

For creators, considering how to demonstrate clear value is prudent. Engaging token holders directly to align on expectations, as we saw this past week, is a constructive step.

Thanks for joining us on this journey as we grow into an ever more decentralized, fair and inclusive network. The Polkadot experiment advances one step at a time. Onward and upward!

Would you like to go deeper into Polkadot beyond just OpenGov? Check out We3kly Web3 R3cap to stay up to date on all things Polkadot.