Dear Proposer,

Thank you for your proposal. Our first vote on this proposal is AYE.

The Medium Spender track requires 50% quorum and simple majority of all voters according to our voting policy. This proposal has received seven aye and zero nay votes from ten members, with two members abstaining. Below is a summary of our members' comments:

In the referendum, several voters expressed varied opinions, with some abstaining due to uncertainty regarding the return on investment for events before the product's readiness. However, many supported the initiative, highlighting the potential benefits of a recent Billfold integration and the importance of gathering data to address existing challenges. They emphasized optimism around a growing user base and the project's ability to enhance Polkadot's adoption on a larger scale, reinforcing the value of initiatives that demonstrate technology's practical applications and meet key performance indicators.

The full discussion can be found in our internal voting.

Kind regards,
Permanence DAO

The ambition to onboard millions through event-driven wallet distribution is exciting but requires a clearer strategy to succeed. This statement is key: 'Once a venue has Billfold, every attendee for every future event will get a Polkadot wallet and be able (and encouraged) to transact on the network.'

At $452K USDC for the first tranche, with no estimates for future funding, the proposal lacks essential details about how wallets will actually be used. Without meaningful incentives to transact on Polkadot during the events, attendees may have little reason to engage with the wallets at all—leaving them unused both during and after the concerts.

To justify this funding, the proposal must answer:

• What drives wallet usage? What specific features or benefits will encourage attendees to use $DOT at the events? Without a strong, tangible reason to transact, distributing wallets risks being a token gesture with no real impact.
• How are events optimized for Polkadot? Beyond simply handing out wallets, how will the event experience integrate Polkadot into ticketing, merchandise, or other activities to create value for attendees?
• What ensures lasting engagement? How will wallets remain relevant to users after the events conclude?

While the vision is bold, the lack of clear strategies for wallet engagement weakens its viability. With greater focus on creating genuine use cases and value for attendees, this proposal could better serve Polkadot's long-term ecosystem goals. Until then, it risks missing its transformative potential imho.