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Polkadot Community Halts Operations After Failed Funding Proposal and Criticism of Open Governance Structure

PolkaWorld, a Chinese community with over 50,000 members on the Polkadot network, has suspended operations after its funding proposal was overwhelmingly rejected. The proposal requested 16,842 DOT tokens to cover operational and maintenance costs for the last quarter of 2023, but received 93.3% of votes as "nay". Members of the community have criticized the new open governance structure, OpenGov, implemented on Polkadot in June, which grants every token holder a vote. Some have called for the reinstatement of the previous council system of experts to evaluate proposals.

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