Encointer seeks for financing of its planned activities for the remaining time of its current common-good parachain lease, split into two proposals. The current proposal shall cover the funding until the end of September 2022. 

The amount of the proposed treasury spend is **CHF 340’000 = USD 350'892 = KSM 6271.63**.
*using [EMA50](https://kusama.subscan.io/tools/charts?type=price) and today's bid price for CHF*

Encointer has onboarded as a common good parachain on Kusama on Jan 9th 2022. In May 2022, a first real community in Zurich was launched and has steadily grown to 130 users within 40 days doing almost 800 transactions in community currency. More communities are in preparation currently

The main focus of Encointer is currently:

* to grow its Zurich community in order to prove the viability of its protocol and implementation as well as its economics with a pioneer community.
* to onboard new communities around the world, especially in less developed regions in order to follow its vision.
* to integrate with other parachains in the DotSama ecosystem for sybil-defense and one-person-one-vote democracy.

So far, Encointer was able to finance its past activities mostly thanks to the appreciation of the DOT and KSM tokens it received as web3 or DOT/KSM treasury grants. The association was also able to collect private donations and significant amounts of work were provided pro bono. Encointer’s financial strategy has been to keep around 70% of its capital in DOT and KSM which proved to be a good strategy so far, as our detailed numbers will show below. Due to recent market corrections, however, the runway of Encointer has dramatically decreased and Encointer can currently only maintain its current activity (development, operation, marketing, community building) for ~2 more months.  As a common-good, Encointer has no way to promise any return on investment, so the project relies on grants and donations.

See our [Proposal with full details](https://docs.google.com/document/d/1eTyZGCTCzo7ZGonVtAmJmc5QYYI0qYHab6z8w56B_F0/edit?usp=sharing)



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>

 Points about Encointer Request for PolkaAssembly Treasury Funding 

1. Amount of funding requested: CHF 340’000 = USD 350'892 = KSM 6271.63
2. Encointer onboarded as a common good parachain on Kusama on Jan 9th 2022 and has a Zurich community with 130 users and counting
3. Funding will be used to grow the Zurich community, onboard new communities, and integrate with other parachains in the DotSama ecosystem
4. So far, Encointer has financed its past activities with web3/treasury grants, private donations, and a lot of pro bono work 
5. Due to recent market corrections, Encointer can only run its current activity for ~2 more months
6. Encointer's financial strategy has been to keep around 70% of its capital in DOT/KSM tokens which has proven to be successful so far

#510 Encointer Growth Treasury Proposal