Web3 Foundation CEO: The foundation has more than 5 years of operating capital, and there will be continuous inflows of funds into the Polkadot blockchain vault
2024-07-03 09:24:25
On July 3rd, in response to "Polkadot's first half financial report", Fabian Gompf, CEO of Web3 Foundation, a development agency of Polkadot, said on social media that this is not Web3 Foundation spending, but on-chain vault spending, which is voted on by the community. The foundation has more than 5 years of operating funds even if it does not sell any DOT. The whole concept of'vault operating funds' is misleading. The vault has a constant inflow of funds that never runs out of funds. I believe that the vault should use its funds for more forward-looking initiatives not covered by the foundation. Even part of the unspent on-chain vault funds are automatically destroyed. In the past few months, the on-chain vault has spent too much money on activities that may have lower returns. Polkadot community, if you want change, now is the time to vote.