Hello community,

Thank you for your support and feedback on our original [discussion on the forum ](https://forum.polkadot.network/t/polkadot-purple-paper-token-morphism-guidelines/2023)for conducting legal research around DOT token morphism. 🙏
We are now presenting this proposal after absorbing feedback.

### Context
In earlier phases of Web3 - namely 2017 and 2018 - there was extensive debate about the legal nature of tokens and the process for getting those tokens acknowledged by regulatory bodies such as the SEC. Amidst the frenzy of the latest bull run, those debates have somewhat subsided. In a post-FTX market, with even more scrutinous regulatory eyes fixed upon crypto, those debates and the need for best practices for undergoing regulatory recognition have reemerged as even more critical pieces of knowledge for web3 builders. In this environment, Polkadot’s efforts and ultimate success in the regulatory arena warrant study and dissemination to the wider web3 community. It is in this spirit that we submit our grant request to the treasury

We have already had informal discussions with the individuals most involved in the DOT related regulatory process, who all expressed initial interest in contributing to the initiative. Given this, we feel confident in our ability to fully develop our research themes.

The professionals we spoke with who manifested in general terms willingness to support the initiative are:

[Joshua Ashley Klayman](https://www.linkedin.com/in/joshua-ashley-klayman/)

[Angela Dalton](https://www.linkedin.com/in/angela-dalton/)

[Chrissy Hill](https://www.linkedin.com/in/chrissy-hill-aa76828/)

[Daniel Schoenberger](https://www.linkedin.com/in/daniel-schoenberger-9107836/)

We aim to produce a Research paper regarding the SEC DOT regulatory process, outcomes and recommendations for Dotsama and the wider Web3 ecosystem. [See full proposal here.](https://docs.google.com/document/d/1oIJ22m_Q07lB832x8gIMwHVjzfUEIkgAK_NsqrhsTiI/edit?usp=share_link)

Approve a proposal. At a later time, the proposal will be allocated to the beneficiary
and the original deposit will be returned.

May only be called from `T::ApproveOrigin`.

# <weight>
- Complexity: O(1).
- DbReads: `Proposals`, `Approvals`
- DbWrite: `Approvals`
# </weight>

 Summary of Polkassembly CouncilMotion post:
1. A discussion was started on the forum related to conducting legal research on DOT token morphism.
2. There is an FTX market and more stringent regulatory enforcement present now, making it important to share best practices for gaining regulatory recognition.
3. Polkadot's experience related regulatory success is worthy of study, making this grant request submitted by the treasury appropriate.
4. Officials such as Joshua Ashley Klayman, Angela Dalton, Chrissy Hill, and Daniel Schoenberger were willing to contribute to the initiative. 
5. The initiative aims to produce a research paper outlining the SEC DOT regulatory process, outcomes, and recommendations for Dotsama and web3.

#368 Polkadot Purple Paper / Token Morphism Guidelines