News
Polkadot’s Bifrost Protocol Launches Groundbreaking Scholarship Program
- Bifrost launches grant program for targeted protocol development.
- The program uses on-chain voting and off-chain discussions for transparent decision-making within the Bifrost community.
Bifrost, an innovative protocol on the Polkadot network, has announced the launch of its new scholarship program. This self-governing body aims to promote long-term development and growth through the collaborative efforts of experts and developers. The program’s structure and goals highlight a commitment to advancing the Bifrost Protocol through both on-chain and off-chain activities.
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On Polkadot, L1 chains can have their own communities, rules, economies, governance, treasuries, and relationships with external networks.
🌈 In this way, @Bifrost has launched its new Fellowship Program: an autonomous body of experts and developers focused on growing Bifrost… Italian: https://t.co/CGb8Gg5eTU
— Polkadot (@Polkadot) July 3, 2024
The Bifrost Fellowship Program is a self-governing entity that operates through on-chain referendums and off-chain community discussions. This hybrid approach ensures that decision-making is transparent and inclusive, involving a wide range of stakeholders within the Bifrost community.
The Fellowship is organized into five sub-fellowships, each focused on a specific area critical to the success of the protocol. Members with relevant expertise and experience compose these sub-fellowships, allowing them to specialize in managing various aspects of the protocol’s development.
Specialized areas of interest for protocol advancement
The Treasury Fellowship is responsible for the management of treasury proposals and strategically allocate funds. This sub-scholarship includes members of the Bifrost Foundation, ensuring that financial decisions are aligned with the long-term goals of the protocol. By overseeing treasury activities, this group plays a critical role in supporting and improving the financial health of Bifrost.
This sub-scholarship focuses on the technical development and innovation of the Bifrost protocol. Members are tasked with maintaining the integrity and security of the protocol and exploring new technical advances that can improve its functionality. Their efforts ensure that Bifrost remains at the forefront of technological advancement within the blockchain ecosystem.
The Governance Fellowship manages the creation and management of governance proposals. This sub-fellowship aims to establish a strong framework for decision-making within the Bifrost community. By facilitating discussions and organizing voting, it helps ensure that governance processes are democratic and inclusive, reflecting the diverse perspectives of all community members.
The Community Fellowship fosters a strong and engaged community around the Bifrost Protocol. This sub-fellowship runs outreach initiatives, organizes events, and facilitates communication between community members. Building an active and supportive community helps drive Bifrost adoption and growth.
The Research Fellowship focuses on advancing the Bifrost protocol through ongoing research and development. Fellows explore new technologies and methodologies that they can integrate into the protocol to ensure it remains innovative and competitive.
Polkadot: Financial End or Survival? Analysts Assess
AS reported In Crypto News Flash, Polkadot’s recent treasury report for the first half of 2024 has raised concerns about funding issues. Crypto analyst Zia ul Haque predicts a potential collapse of Polkadot within two years. With liquid assets of around $200 million and an annual spending rate of $108 million, Polkadot’s financial reserves could be depleted by 2026. Haque points out that without addressing its inflation issues and revising its financial strategy, Polkadot risks a complete financial collapse.
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In 2 years Polkadot will die.
The reason is their financial strategy. By investing millions in advertising, they get 0 results.
How is this possible? Let me show you 🧵👇 photo.twitter.com/zWAYzjLL6R
— Zia ul Haque (@ImZiaulHaque) July 2, 2024
At the time of writing, Polkadot is trading at $5.84, down 5% in 24 hours. Dot has a market cap of $8.4 billion. Also, on the weekly chart, DOT price is still down 2%.
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