To simplify, the illustrations in this tutorial are based on the local development network. Most of the key factors have been adjusted to align with the documentation objective. This tutorial can also be applied to the production network.
The Treasury serves as a pool of funds accumulated from various sources such as block production rewards, transaction fees, slashing, and staking inefficiencies. These funds are securely held in a system account that can only be accessed by the internal logic of the system. To utilize the Treasury funds, a spending public referenda must be initiated, which, if approved, will enter a waiting period before the funds are distributed.
This guide offers step-by-step instructions on submitting a treasury proposal and applying a treasury tip.
The important parameters to be aware of when voting using the Treasury module are as follows:
ApproveOrigin- Origin from which approvals must come.
SpendPeriod- period between successive spends.
TipCountdown- The period for which a tip remains open after is has achieved threshold tippers.
Parameters In The Networks
Submit A Treasury Proposal
- Submit A Treasury Proposal
Go to Polkadot apps dashboard and navigate to the
Governance > Treasurytab. Click the button on the right that says
To submit your treasury proposal, you will be required to provide a small bond of tokens. Specify the beneficiary and value of the proposal, and then click on the
After making the transaction, you will see that your proposal is displayed under the "proposals" row. Make sure to remember the proposal index, as it will be used later to initialize a democracy proposal.
- Submit A Democracy Proposal
Due to the
ApproveOriginsetting, the treasury proposal requires a public referenda instead of a council vote, as seen in Polkadot. Let's create a preimage for the democracy public referenda.
Treasury > ApproveProposalaction and enter the treasury proposal index that was previously saved. Finally, click the
The subsequent steps, such as submitting a public proposal, endorsing a public proposal, and voting on a public referendum, are covered in the Proposal Execution section. We won't illustrate them again here.