CandleFocus

Polkadot’s Prudent Financial Management Highlighted in Latest Treasury Report

Author: Content Editor
Polkadot has released its Q3 2024 treasury report, which shows a significant decrease in quarterly spending. The report reveals that Polkadot spent $27 million (5.1 million DOT) in Q3, with a remaining balance of $150 million (33 million DOT). The treasury holds $109 million in cash and cash equivalents, with $78 million readily available. The expenses cover development, outreach, talent and education, operations, research, and other initiatives. Bounties are playing a crucial role in the network's development, with $6 million spent in Q3 and $18 million earmarked for future bounties. Despite the reduction, current spending levels are still relatively high. Polkadot's quarterly spending is roughly half of Ethereum's during the same period, highlighting its commitment to financial efficiency. The head ambassador stresses the importance of long-term sustainability, which could positively impact the market price of DOT. Polkadot is currently trading at $4.47 per coin.

Related News