The Polkadot (DOT) ecosystem is billed to see a number of additional functionalities through targeted protocol upgrades that are set to go live in the near term. According to a new Twitter thread by Bill Laboon, a Kusama Council Member, at least two key proposals to boost network functionality have attained over 95% approval by voters.
The first proposal, dubbed Referendum 101, approving a Wasm Smart Contracts Bounty has received 99% yes from voters despite having about 14 more days remaining for voting. The Wasm Smart Contracts Bounty will help make Polkadot parachains generally safer.
Referendum 101, approving a Wasm Smart Contracts Bounty (Bounty #19), is currently passing with 99% in favor and 14 days left to vote. https://t.co/LWxWwQraPJ
— Bill Laboon | W3F (@BillLaboon) February 13, 2023
Besides this, referenda 103 and 104, which seek to unbrick the Zeitgeist parachain, are currently passing, with 98% in favor and 19 days left to vote. These new upgrades will help to democratize governance for substrate blockchains on the Polkadot network.
In all, there is also a proposal to increase the minimum number of active validators on the Polakdot network to 500. This will further enhance the timing for transaction validation while also fast-tracking events that can help Polkadot remain highly responsive and functional as a blockchain network.
Polkadot price outlook
Polkadot is experiencing a more bearish price action at the time of writing. The coin is changing hands at $6.06, down 4.17% over the past 24 hours and by 8.29% in the trailing seven-day period.
The governance voting on Polkadot is expected to stir a more positive price action overall on the price action of DOT. While this is not the case at the moment, Polkadot has recorded a number of thrilling milestones thus far this year, showcasing how close the price may be to a breakout in the near term.
With active accounts up 64% as of the fourth quarter of last year and the likelihood of the bullish new referenda passing, Polkadot is looking greener than it currently presents itself to be at this time.
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