Dear Polkadot Community,

Chainalysis has submitted a revised proposal to the Polkadot community. This updated proposal incorporates valuable feedback and is designed to better align with the community's needs and priorities.That includes community feedback, aligned goals, detailed plan and clear phased implementation, training programs to ensure everyone is well-formed in compliance best practices and Chainalysis solutions.

Background:

In March of this year, we presented our initial proposal to the Polkadot community, aimed at accelerating Polkadot’s penetration into the institutional market. This proposal was specifically requested by Georgi Ivanov from Polkadot’s Business Development team, who faced a compliance challenge from a major European financial group. The challenge was to ensure that Polkadot’s protocol met the best practices in compliance, a crucial step for institutional acceptance.

Objectives:

Support Key Goals: Increase market capitalization, capture institutional market share, grow global adoption, and maintain a reputation for compliance.
Enhance Visibility and Risk Management: Use Chainalysis solutions to provide on-chain activity insights and improve risk management.

The total payment for this proposal is 6.5M USDC, divided into three annual payments as follows:

First Payment: Upon proposal completion 2,166,660 USDC.

Second Payment: One year after the first payment, 2,166,670 USDC.

Third Payment: Two years after the first payment, 2,166,670 USDC.

Please see pre-image

For more details, please check out the full proposal here.

Read about our initial proposal here.

Previous discussion of this new proposal here.