Kusama Treasury Report 1
Since Kusama network launched, it has initiated 56 Treasury Proposals in total, and 34 of them have been approved so far. The total expenditure of the Kusama Treasury is 45915.97 KSM, which is equivalent to $2,158,000 at the current KSM price.
As a member of runners up, PolkaWorld sorts out all Kusama’s Treasury proposals, ranging from website development and operation, documentary/video production, marketing plans to wallets, exchanges, NFT galleries, and even to help users recover the loss of a misoperation. It can be seen that Kusama network is very dynamic. Welcome, all fun and interesting ideas to implement on kusama Network!
The Kusama treasury is a pot of funds collected through transaction fees, slashing, staking inefficiencies, etc. The funds held in the treasury can be spent by making a spending proposal that, if approved by the Council, will get the distribution KSM.
The role of the treasury is to provide financial support for projects that promote the development of the Kusama network, thereby promoting the prosperity of the Kusama ecosystem. Any KSM holder can submit a Treasury Proposal to apply for KSM in the Treasury. But you must reserve a deposit totaling 5% of the proposed spend or 3.3 KSM. This deposit will be slashed if the proposal is rejected, and returned if the proposal was accepted.
So what proposals have been approved by the council？How do they support the development of Kusama Network? You can check all the passed proposals here：https://shimo.im/sheets/wVx6dKukqpYzpkGW/wo3fE/ 。
How to apply for Kusama Treasury?
- Put forward your detailed proposal on the https://kusama.polkassembly.io/
- Send the link to the above post on the Kusama Direction channel (https://riot.w3f.tech/#/room/#kusama:matrix.parity.io) for discussion and get the feedback from council.
- After obtaining the feedback of Councilors, you can summit the on-chain proposal at https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fkusama-rpc.polkadot.io#/treasury, and reserve a deposit of KSM
- Waiting for the council to turn to a motion.
Kusama Treasury vs Polkadot Treasury
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