{"id":201808,"date":"2021-10-19T02:00:05","date_gmt":"2021-10-19T01:00:05","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=201808"},"modified":"2021-11-03T00:55:18","modified_gmt":"2021-11-03T00:55:18","slug":"polkadot-dot-founder-announces-774-million-development-fund-for-defi","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/polkadot-dot-founder-announces-774-million-development-fund-for-defi\/","title":{"rendered":"Polkadot (DOT) founder announces $774 million development fund for DeFi"},"content":{"rendered":"

Following <\/span>DOT<\/span><\/a>\u2019s rally last week, driven by the <\/span>announcement<\/span><\/a> of Polkadot\u2019s highly-anticipated parachain auctions, <\/span>Gavin Wood<\/span><\/a> teased $774 million ready to be spent on innovative ideas.<\/span><\/p>\n

Polkadot, created by Wood, currently has 18,936,300 DOT in its treasury, which can, according to the founder, instead of being slowly burned by the protocol, fund anything that the network\u2019s governance believes valuable.<\/span><\/p>\n

Building, improving, educating, and beyond<\/strong><\/h2>\n

\u201cThe Polkadot treasury currently has 18,936,300 DOT (DOT, not USD – do the math) in it ready to spend on *your* ideas for building, improving, educating and indeed, anything else that the Polkadot governance believes valuable,\u201d Wood wrote on Twitter, inviting DOT holders to put forward their suggestions for furthering the network\u2019s growth.<\/span><\/p>\n

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The @Polkadot<\/a> treasury currently has 18,936,300 DOT (DOT, not USD – do the math) in it ready to spend on *your* ideas for building, improving, educating and indeed, anything else that the Polkadot governance believes valuable.<\/p>\n

— Gavin Wood (@gavofyork) October 17, 2021<\/a><\/p><\/blockquote>\n