Polkadot Releases Q3 Treasury Report: $153M In Reserves and $27M Spent
In Brief
Polkadot community released its latest Treasury report for Q3 revealing the deployment of its Treasury funds.
Community of the multi-chain network Polkadot (DOT) released its latest Treasury report for Q3.
According to the report, the Polkadot Treasury holds a balance of $153 million or 33.3 million DOT, with $109 million or 23.7 million DOT available for spending. Additionally, $6.6 million of the reserves are held in stablecoins, while 6 million DOT, approximately $28 million, is allocated for automated stablecoin acquisition.
In terms of expenditure, the Treasury spent $27.3 million or 5.1 million DOT in Q3 2024—half of what was spent in Q2, with expenditures dropping from $58 million to $27 million and a reduction in DOT-based spending from 8 million DOT to 5.2 million DOT. Among these, outreach spending saw the most notable decrease, dropping from $27 million to $9.9 million. Development costs remained relatively stable, increasing slightly from $10 million to $11.9 million, while operational costs held steady at around $1.4 million. Talent and education spending saw an increase from $2.3 million to $3.8 million, while research spending dropped to its lowest level this year, from $1.5 million to just $310,000. Noteworthy, there were no approved proposals for economic stimulus during this quarter.
Moreover, $34 million or 7.4 million DOT is now allocated to several of Polkadot’s executive bodies for strategic initiatives in areas such as marketing, decentralized finance (DeFi) tooling, gaming, and business development.
In terms of market operations, Polkadot has allocated $10 million or 2.2 million DOT of its assets as liquidity across four different DeFi blockchains as part of its market operations. The Polkadot DAO has adjusted its approach in response to prior high spending levels by reducing expenditures. An expected reduction in inflation could further stabilize the Treasury’s income.
Polkadot Treasury: Managing Over $150M Across Seven Blockchains
It is a multi-asset and multi-chain solution that manages over $150 million across seven different blockchains. Polkadot‘s governance structure is expanding, as evidenced by the increasing number of executive bodies receiving funding from the Treasury. Additionally, capital deployment is ongoing across four different decentralized finance (DeFi) blockchains within the Polkadot ecosystem.
Notably, the Treasury has also performed its first active asset swap, exchanging 1 million DOT for an equivalent amount of MYTH tokens, as part of the ongoing integration of the Mythical gaming chain into the Polkadot network.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
