While it may seem like the bear market seems to be making a dent in the crypto space, in the case of Polkadot, it is its own people that are causing p
This proposal was rejected by the community, which resulted in PokaWorld halting its operations since the beginning of September. The past two weeks have been the first time in four years that PolkaWorld has had to resort to a halt since its launch in 2019. Blaming the new governance mechanism of Polkadot, OpenGov, the community stated,
"In the original governance system, a"professional" council was elected by DOT holders. This council had expertise in certain areas and would use their knowledge to evaluate proposals. I think this approach shouldn't be scrapped, it should be integrated into the OpenGov system. Personally, we believe decentralization only works for the"informed", it's not for everyone, no offense meant.
PolkaWorld, in a series of tweets on X , called out the Polkadot community for not playing their part properly. The tweet read that the purpose of OpenGov, as per Polkadot founder Gavin Wood, was to make the governance process more decentralized and democratic while also making the Treasury more efficient and transparent. However, as per PolkaWorld, the treasury management at the moment is highly inefficient, affecting long-term contributors and organizations.
Nevertheless, PolkaWorld stated that it would be giving the proposal another shot by updating it and requesting the community to cast their votes genuinely.Given that PolkaWorld has over 50,000 followers and has contributed significantly towards the growth of the network over the past few years, their exit would leave a gaping hole in the community.
Since Polkadot has over 1.13 million users at the moment, PolkaWorld followers amount to more than 4.8% of the entire community. Naturally, the sudden pullback of such a huge figure could have a negative impact on Polkadot price, too.Thus, DOT holders are equally vulnerable to losses as PolkaWorld should they reject the updated proposal again.
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