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Polkadot Treasury allocates $87 million in the first half of the year, currently managing $245 million in assets

Polkadot Treasury allocates $87 million in the first half of the year, currently managing $245 million in assets

Bitget2024/07/01 15:53

Polkadot community members Alice und Bob recently posted the following highlights of the Polkadot Treasury report for the first half of 2024 on the Official Governance Forum:

Treasury allocated $87 million ($11 million) in the first half of 2024, with 13% of spending coming from implementing entities (bounties and collective);
Treasury manages USD 245 million (38 million DOT) in assets, of which USD 188 million (29 million DOT) are liquid assets;
Stablecoins: $8 million of its cash reserves are in stablecoins USDT and USDC, and another 2.5 million DOT ($16 million) are used to buy stablecoins on an ongoing basis;
Designated Assets: $24.5 million (3.8 million DOT) is allocated to several of Polkadot's executing entities (bounties and collective) for strategic programs such as marketing, DeFi tools, gaming, BD, etc., and $6.4 million (1 million DOT) is allocated to gaming pendant airdrops;
Polkadot has provided 1.6 million DOT (~$10 million) of its own assets as liquidity to DeFi markets in the ecosystem;
At the current rate of spending, Treasury has about 2 years of runway left (the volatility of cryptocurrency-denominated treasuries may affect that length of time).

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