@polkaworld 

“The Treasury is once again acting like an investor, but without receiving any return. The team clearly stated in the proposal that they won’t issue a token, nor did they mention any potential future business model.”

Let me take a step back and explain what truly matters for any chain, also Polkadot.

Active wallets and on-chain transactions are key indicators of a healthy blockchain ecosystem and that’s exactly what WAGOI is designed to deliver. (This is the same reason the ecosystem collectively backed an initiative like Mythical Games -  to bring real users into the Polkadot ecosystem.)

Further more, VCs and institutional partners track DAUs/MAUs .  Chains with flat wallet growth often struggle to attract new builders and capital. ( For example Ethereum and Solana’s explosive rise was driven by user activity -  not just developer tooling)

Treasury models (like Polkadot’s) are fueled by on-chain activity fees, inflation, and slashing. This means simply more transactions = more fees = more sustainable long-term funding without continuous inflation.

Oh - and let’s not forget the network effects. More active wallets → more developers → more apps → more users → more investors → positive feedback loop. I think that without this loop, the chain risks becoming tech-rich but user-poor.

As for the business model: It’s clearly outlined in our proposal.
We aim for 50,000 unique connected wallets by Q2 2026. For context: As of Q4 2024, the entire Polkadot ecosystem sees just 11,500 daily active wallets. Source: Messari

But we’re not only increasing on-chain activity -  we’re also creating visibility and sparking high-level conversations with institutions and regulators across Europe. And we’re doing that without asking for a marketing budget.

Now, we fully understand and respect your caution. But if Treasury funds are only used for internal infrastructure and tooling, when will Polkadot ever truly reach end users?

We’re not asking for a leap of faith. We’re delivering a real, legally grounded, on-chain use case, built by ecosystem veterans, aligned with one of the most impactful pieces of EU legislation in years.

If anything is unclear or can be improved, we’re always open to feedback.