This proposal aims upgrade Polkadot to [v9340](https://github.com/paritytech/polkadot/releases/tag/v0.9.34): the specific details on this upgrade please check the release notes. 

- This is a runtime-only release. 
- No node client is released, also this Polkadot runtime replaces runtime v9320 and v9330.

Proposal hash: `0xace5dccb8eecfab754154a27c370a513d79d4fcda40f5837be1c0f129cdf4726`

Please note this proposal is submitted as an external motion: meaning if/after the Polkadot Council approves, the proposal will be up for vote by the community in democracy module. 

Make sure to vote at your convenience!

### IMPORTANT NOTE ON THIS UPGRADE:

Assuming Referendum 96 passes, Polkadot will upgrade to runtime v9340 on Saturday 14 Jan. This will have several effects: **please read below!**

First, any outstanding multisig calls (ones where one signatory has signed, but not the threshold) will not be able to execute. Please either finish your multisig calls before this upgrade, or wait until after it is completed. [https://github.com/paritytech/substrate/pull/12072](https://github.com/paritytech/substrate/pull/12072).

All preimages and the dispatch queue will be cleared. Any Referenda already passed but not enacted will thus not execute. If the Referendum is ongoing, the preimage can be re-uploaded after the upgrade. [https://github.com/paritytech/substrate/pull/11649](https://github.com/paritytech/substrate/pull/11649).

Set the new runtime code.

# <weight>
- `O(C + S)` where `C` length of `code` and `S` complexity of `can_set_code`
- 1 call to `can_set_code`: `O(S)` (calls `sp_io::misc::runtime_version` which is
  expensive).
- 1 storage write (codec `O(C)`).
- 1 digest item.
- 1 event.
The weight of this function is dependent on the runtime, but generally this is very
expensive. We will treat this as a full block.
# </weight>

- Polkadot is going to upgrade to version v9340.
- This upgrade is only for the runtime, not the node client.
- The upgrade will replace versions v9320 and v9330.
- There is a proposal for this upgrade that needs to be approved by the Polkadot Council and then voted on by the community.
- There are some important things to know about this upgrade, like finishing any multisig calls before the upgrade and clearing preimages and the dispatch queue.

#96 Runtime Release v9340 for Polkadot