Total amount: 254,064 DOT and 4,062,500 USDC (~5M USD, based on the current Coingecko price of 4.10, with a 10% buffer for slippage), broken down into:
Beneficiary Address: 129Uxho5oKBz6js8dwjoQLzLjYsEs4ZLBtS7KRotQbunVNfP
For further details on the payment and incentive structure, see the Payout Section below.
Snowbridge (https://app.snowbridge.network/) has now been live for almost a year, running successfully with no on chain issues and zero on chain downtime. It’s the longest running and most complex public goods project in the Polkadot ecosystem outside of Parity itself and since launch has become critical to the Polkadot ecosystem.
Snowbridge is the only fully trustless bridge in the ecosystem - meaning it is both fully governed by Polkadot itself and fully owned by the Polkadot Treasury as a system that can facilitate further growth and value flow into the treasury.
(For a deeper dive into Snowbridge’s purpose and value to the Polkadot ecosystem, see the “Purpose” section in our original funding proposal)
Since our launch, the bridge has grown to over $63M TVL and we’re expecting a burst of additional TVL soon as new assets soon launch. Snowbridge is also now integrated with ~24 parachains, wallets, apps, and other services across the Polkadot ecosystem. Our team has continued to ship tons of features and improvements for Snowbridge over the last year including significant cost and performance improvements, developer tooling for integrations and a major re-architecture into Snowbridge V2 for much improved arbitrary messaging support.
Our original proposal was in 2022, where our team and the Polkadot community agreed upon an expected milestone payment plan and incentives for the long-term project. This led to the successful development and launch of Snowbridge, and our follow up proposal last year kicked off those milestone completion payments which have been unlocking monthly over the last year.
This proposal covers the next year of spends for the final 12 milestone payments and team incentives from June 2025 to June 2026. It also renews the insurance and bug bounty programmes that we put in place last year for further incentive alignment.
Our team has continued to deliver improvements over and above those in our milestones and we’ve become involved in a myriad of efforts that have brought significant value to the wider Polkadot ecosystem beyond just for Snowbridge. This proposal reviews our past year and suggests a continued roadmap with growth plan efforts for the coming year.