Polkadot Treasury spending surges over 60% in 2023 compared to last year.
$21 million (3.9 million DOT) spent in various categories in 2023, up from $13 million (1.7 million DOT) in 2022.
Spending was categorized into Development (50%), Outreach (38%), Operations (9%), Research (2%), and Other (1%) in 2023.
Blockchain platform Polkadot has just released its latest Treasury Report for the third quarter of 2023. As of October 18, it has been revealed that the Polkadot Treasury’s spending has seen over a 60% surge in 2023 compared to the previous year.
The year, although not yet concluded, has already witnessed a remarkable uptick in spending. A total of $21 million (equivalent to 3.9 million DOT) has been spent in various categories, compared to $13 million (1.7 million DOT) in 2022.
The report categorizes spending into four main areas: Development, Operations, Outreach, and Research, with some additional costs classified as “Other.” It covers all expenditures within the Polkadot ecosystem until October 18, 2023.
Polkadot Treasury Total Spend in 2023 by Category (Source: Polkadot)
As illustrated in the chart, Development takes up a significant portion, amounting to 50% of the total expenses. Outreach constitutes 38%, and Operations accounts for 9%. Research took 2%, and other miscellaneous costs make up the remaining of the expenditure.
Compared to 2022, both the Development and Operations categories have experienced a doubling in expenditure. Outreach spending has seen nearly a 10% increase, while Research has witnessed a remarkable 65% rise.
The Polkadot Treasury report further indicates that the relative distribution of spending across these categories remains relatively stable compared to the previous year.
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