Web3 Foundation CEO responds to Polkadot treasury spending controversy: Treasury funds are sufficient, calls on the community to vote on future spending directions

BlockBeats news, on July 3, in response to the controversial "Polkadot Treasury spent 87 million US dollars in half a year", Web3 Foundation CEO Fabian Gompf said on the social platform, "This is not the expenditure of the Web3 Foundation, but the on-chain treasury expenditure determined by the community vote. The foundation has more than 5 years of funds in reserve without selling any DOT.

For the on-chain treasury, the so-called "fund reserve" concept is misleading. The treasury has a continuous inflow of funds and will never run out of funds.

I think the treasury should use the funds for more "avant-garde" projects that are not covered by the foundation. Some unused on-chain treasury funds will even be automatically destroyed.

I personally agree with the overall point of view here. In the past few months, the on-chain treasury has spent too much on activities that may have lower returns. If the community wants to change, now is the time to vote. "