Referendum #1542 (https://polkadot.subsquare.io/referenda/1542) on Polkadot "Polkadot GIGAHydration Campaign" is due to confirm in ~5 days, and in order to ensure its successful approval, we've made the following adjustment to the proposal:
After considering feedback from multiple parties and the upcoming launch of Polkadot Hub, we've agreed on the need for a more hollistic approach to liquidity incentivization with a broader view of how these incentives are deployed across different protocols.
We will shortly launch a referendum on Hydration committing to returning 3M of the 5M DOT if this proposal is successfully passed with significant support. The remaining 2M DOT will be distributed over a period of 6 months on Hydration, during which time we will work with Velocity Labs, Parity & Web3 Foundation on a wider and coordinated ecosystem incentivization campaign
This will help the ecosystem have better longer-term sustainability of incentives through the Polkadot Treasury - ensuring maximum support for the launch of Polkadot hub while creating synergies with existing DeFi products like Hydration
In order to ratify this as Hydration DAO, it's important that we send a signal that we will conform to this once the proposal passes and the DOT are under DAO control - this proposal, if approved, will create the following on-chain remark:
Commit to returning 3,000,000 DOT to the Polkadot Treasury upon successful execution of referendum #1542 Polkadot GIGAHydration Campaign
Well done for different reasons.
First, for creating a proposal that sparked conversations, but most importantly, for demonstrating that the hydration community can be trusted.
You've shown that we are open to dialogue and committed to making things better for the entire ecosystem.
Thank you for not working in silos, but instead for seeing and addressing the bigger picture.