The public blockchain Polkadot recently announced its semi-annual financial report for the first half of 2024. Despite the official claim that the treasury’s reserves are sufficient to support two years, the substantial expenditure of $87 million has raised community criticism. The modular blockchain Manta Network, which has shifted from Polkadot to Ethereum L2, also accused the project of discriminating against Asians.
**Table of Contents**
– Polkadot’s promotional expenses amount to $37 million
– Community questions: Lavish marketing with no visible results
– Manta Network: Polkadot discriminates against Asians
Polkadot recently released the 2024 semi-annual Treasury financial report. Although the official statement claims that the treasury’s funds are sufficient to support two years, the substantial expenditure of $87 million still raises community questions.
**Polkadot’s Promotional Expenses Amount to $37 Million**
According to the balance sheet, the Polkadot Treasury manages assets totaling $245 million, including:
– $188 million (29 million DOT) in liquid assets, including $8 million in stablecoins USDT and USDC, mainly distributed on Relaychain, AssetHub, and Hydration;
– $47 million (730,000 DOT) allocated by the Treasury for specific purposes;
– $6.4 million (1 million DOT) dedicated to Omnipool;
– $3.7 million (580,000 DOT) in receivables for providing one-year loans to DeFi ecosystem projects.
With the current asset situation, there is still sufficient funding. However, Polkadot’s expenditure in the first half of the year (totaling $87 million, far exceeding the combined expenditure of $46 million for 2022 and 2023) has sparked significant controversy, specifically including:
– Promotional expenses accounted for $37 million, mainly for advertising and media, online and offline community building activities, and large conferences.
– Development expenses of $23 million;
– Economic expenses of $15 million;
– Talent and education expenses of $5.5 million;
– Operational expenses of $3.8 million;
– Research funds of $2.1 million.
**Community Questions: Lavish Marketing with No Visible Results**
Faced with Polkadot’s expenditure report, many community members complained that the official spending a huge amount of money on marketing has not yielded any noticeable results, which can be described as “spending a lot, business zero progress.” At the same time, according to the current rate of spending, Polkadot may go bankrupt in less than two years:
**Manta Network: Polkadot Discriminates Against Asians**
In addition to allocating a large amount of funds to marketing plans with unimpressive results, Victorji.eth, the founder of the modular blockchain Manta Network, also criticized on social platform X yesterday (2nd) that Polkadot is highly toxic, has no value for Web3, and even discriminates against Asians:
**Extended Reading:**
– Dialogue with Manta Network founder: Why did we leave Polkadot and OP Stack?
– Extended Reading: Spending like a bull market, business zero progress, Polkadot initiates the largest wave of layoffs in history
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