Proposal 008 — Onboarding of Polkadot (DOT) to the BLND Basket of Tokens

Proposal 008 — Onboarding of Polkadot (DOT) to the BLND basket of Tokens

This is the eight-proposal submitted to StakerDAO by the Blend Community based on BLND token holders’ feedback. The primary purpose of this proposal is to introduce Polkadot as a diversification tool to help mitigate the risk and volatility of the BLND token.

1. Who is the interested party for this proposal application?

Blend Community Member @El-Pro on behalf of the Blend Community

2. Provide a brief high-level overview of the proposed asset, with a focus on the applying token.

Polkadot is a sharded blockchain, meaning it connects several chains together in a unified network, allowing them to process in parallel and exchange data with strong security guarantees between chains. By parallelizing the workload, Polkadot solves major throughput issues that have thus far hampered decentralized application development. Polkadot’s design offers several distinct advantages over existing and legacy networks, including heterogeneous sharding, scalability, upgradeability, transparent governance, and cross-chain composability. Applications from decentralized finance and energy to Internet of Things (IoT) and gaming will thrive on Polkadot.

3. Provide a brief history of the project.

The development of Polkadot began in 2016. The protocol represents a significant step towards Web3 Foundation founder and President Dr. Gavin Wood’s vision of a decentralized internet, known as Web 3.0. Dr. Wood, a co-founder and former chief technology officer of Ethereum, led the development of Polkadot along with two co-founders and the team at Parity Technologies, led by Dr. Jutta Steiner, CEO.

4. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed asset. If the system is complex, schematic(s) are especially appreciated.

5. Link any available audits of the project. Both procedural and smart contract focused audits.

6. Link to any active communities relating to your project.

Please visit (unfortunately I am only allowed to post 2 links as a user) also,

7. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?

No organization bears responsibility for the collateral and users bear the responsibility of their collateral and use of the protocol

8. Where does exchange for the asset occur?

Listed on Centralized exchanges such as Binance, OKex, Bitfinex, and Kraken


Hi @El-Pro, thank you for the post! We love to see proactive community members and I can appreciate the research you did to create this in a format that we like to see this. I made one slight change to put this under New Ideas as it is not a proposal that has been submitted on-chain.

In response to your post, we definitely want to see Polkadot in the Blend basket. However, several months ago, another community member along with our Operations team proposed that we should wait 5 months before adding a newly launched token to the basket. Here is the post I am referencing. It subsequently became a part of Proposal 003. I definitely want to revisit this soon, ideally in December.

Thank you again for the post!

Hello Christian–can you please explain the lifecycle of a proposal, when it is posted as a New Idea on the StakerDAO forum? Is there a Conception status and/or how do you move “New Ideas” to the next stage?

As an example, perhaps from Forum to Github repository, etc., is there a Proposal template, etc.?

We have the general lifecycle of governance on our website:

However, there is no existing path to move a forum post to a GitHub repo or something similar. As of right now, the Operations Team needs to push proposals forward on-chain, but that is why we are working on a more liquid governance token. This governance token, we hope, will launch around December or January and would have the functionality for any user to create a proposal and for it to gather votes to be submitted for a more general vote. We’ll have more details about this in the October proposal or the November proposal at latest. Overall, we’re early, but we’re dedicated to getting there!