[Replacement for Referenda #1 and #3] Treasury Proposal: Snowbridge Funding Proposal

As we navigate OpenGov, we re finding new things again, a second time: referendum #1 would not have enacted succesfully, because the call we used (treasury.ApproveProposal) would have only be enacted successfully with root origin. Additionally, we have now discovered that referendum #3 will also not be enacted successfully due to a polkadot-js UI issue whereby it used the expected enactment block as the enactment duration rather than particular given time, so the proposal would take many years to enact.

This has since been fixed in the polkadot-js UI.

This is the (hopefully final) resubmission of the proposal:

• on Treasurer track (same one)
• with the call treasury.Spend (including the amount in KSM for the allocation)

Original replaced treasury submission: HERE
Second replaced treasury referenda: HERE

This proposal is now up for vote! aiming to cover the development of Snowbridge by the Snowfork team: a fully trustless, permissionless and general purpose bridge between Kusama/Polkadot and Ethereum. The bridge will launch on the Bridge Hub, a common-good parachain that is being developed by Parity for Kusama and Polkadot. This proposal is a funding request for 28 months worth of long term runway for all operations for the Snowbridge team (16 months retroactive, 12 months in future), with the goal to launch as a common-good bridge on the Bridge hub on both Polkadot and Kusama.

The full proposal can be reviewed on the post and includes extensive additional details related to further motivation for supporting and promoting Snowbridge, a long term roadmap, governance and economic plans as well as long term economic incentives for successful execution, launch and running of the project. Please note that both networks are voting on the project: the Polkadot proposal (up for vote by the council as external motion and later by the community if approved) can be found here.