Polkadot’s Bifrost Protocol Launches Game-Changing Fellowship Program

• Bifrost launches Fellowship Program for focused 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 Fellowship Program. This self-governing body aims to foster long-term development and growth through the collaborative efforts of experts and developers. The program’s structure and objectives highlight a commitment to advancing the Bifrost protocol through both on-chain and off-chain activities.

On Polkadot, L1 chains can have their own communities, rules, economies, governance, treasuries, and relationships with external networks.

In this way, @Bifrost launched its new Fellowship Program: a self-governing body of experts and devs focused on the growth of Bifrost… https://t.co/CGb8Gg5eTU

— Polkadot (@Polkadot) July 3, 2024

The Bifrost Fellowship Program is a self-governing entity that operates through on-chain referenda and off-chain community discussions. This hybrid approach ensures that decision-making is transparent and inclusive, engaging a wide range of stakeholders from within the Bifrost community.

The Fellowship is organized into five sub-fellowships, each focusing on a specific area crucial to the protocol’s success. Members with relevant expertise and experience compose these sub-fellowships, enabling them to specialize in managing various aspects of the protocol’s development.

Specialized Focus Areas for Protocol Advancement

• Treasury Fellowship

The Treasury Fellowship is responsible for managing treasury-related proposals and strategically allocating funds. This sub-fellowship includes members from the Bifrost Foundation, ensuring that financial decisions align with the long-term goals of the protocol. By overseeing the treasury’s activities, this group plays a critical role in sustaining and enhancing the financial health of Bifrost.

• Technical Fellowship

This sub-fellowship focuses on the technical development and innovation of the Bifrost protocol. Members are tasked with maintaining the protocol’s integrity and security and exploring new technical advancements that can enhance its functionality. Their efforts ensure that Bifrost remains at the forefront of technological progress within the blockchain ecosystem.

• Governance Fellowship

The Governance Fellowship handles the creation and management of governance proposals. This sub-fellowship aims to establish a robust framework for decision-making within the Bifrost community. By facilitating discussions and organizing votes, it helps ensure that governance processes are democratic and inclusive, reflecting the diverse perspectives of all community members.

• Community Fellowship

The Community Fellowship fosters a strong and engaged community around the Bifrost protocol. This sub-fellowship manages outreach initiatives, organizes events, and facilitates communication among community members. Building a supportive and active community helps drive the adoption and growth of Bifrost.

• Research Fellowship

The Research Fellowship focuses on advancing the Bifrost protocol through continuous research and development. Members of this sub-fellowship explore new technologies and methodologies that they can integrate into the protocol to ensure it remains innovative and competitive.

Polkadot’s Financial Doomsday or Survival? Analysts Weigh In

As reported by Crypto News Flash, Polkadot’s recent treasury report for the first half of 2024 has raised concerns over funding issues. Cryptocurrency analyst Zia ul Haque predicts a potential collapse of Polkadot within two years. With liquid assets of approximately $200 million and an annual spending rate of $108 million, Polkadot’s financial reserves could be depleted by 2026. Haque emphasizes that without addressing its inflation issues and revising its financial strategy, Polkadot risks a complete financial meltdown.

In 2 years Polkadot will die.

The reason is their financial strategy. Investing millions in ads, they get 0 results.

How's it possible? Let me show you pic.twitter.com/zWAYzjLL6R

— Zia ul Haque (@ImZiaulHaque) July 2, 2024

As of this writing, Polkadot is trading at $5.84, registering a 24-hour decline of 5%. Dot has a market cap of $8.4 billion. In addition, on the weekly chart, the DOT price is still 2% down.