SnowBridge, a trustless cross-chain bridge designed to link Polkadot with Ethereum, is seeking approximately $6 million in DOT tokens funding from the Polkadot community.
The firm’s proposal stated that the funds are intended to ensure Snowbridge’s long-term success, align the team’s incentives with the Polkadot community, and provide financial guarantees for the bridge’s users.
Treasury proposal
According to the proposal, SnowBridge is seeking 999,568 DOT, equivalent to $5,797,500. The fund includes an immediate payment of 191,379 DOT (approximately $1.2m) and a two-year vesting of 323,275 DOT (nearly $1.9 million).
Additionally, 161,637 DOT ($937,500) will be paid out over three months. The remaining 53,879 DOT ($312,500) will be disbursed monthly from September 2024 to February 2025.
SnowBridge stated that the funding aims to enhance user insurance and maintain the bridge for future growth and adoption. It added:
“This…
