TL;DR

The payout for [<u>Ref 703</u>](https://polkadot.polkassembly.io/referenda/703) expired before we could claim. This ref intends to rectify the payout that was originally approved under Ref. 703.

The preimage was pulled as an additional measure to prove that the payout was not disbursed.

**Q: Why was the payout not claimed?**

A: Due to an oversight on our part, we failed to track the timeline properly and missed the deadline to claim the payout.

**Q: What is the purpose of this proposal?**

A: Since the claim on our previously approved proposal has expired, we are currently unable to claim the originally approved funds. We are submitting this proposal to rectify this so that we may continue to deliver on the original proposal.

**Q: Are you still planning to fulfill the proposal?**

A: Absolutely, we executed in any case, and the Scalability Hackathon has been a big success.

**Q: Can you verify the payment address?**

A: Yes, the payment address is an Encode-controlled address, identical to the one used in the original proposal.

Your vote will accelerate the rectification of this payout previously approved. Thank you for the support! 🙏❤️

Full proposal here: [https://docs.google.com/document/d/1P-LiroEAL1Sdqum-vsHug1ab2lPFjETWOAoh6fNkLxg/edit?usp=sharing](https://docs.google.com/document/d/1P-LiroEAL1Sdqum-vsHug1ab2lPFjETWOAoh6fNkLxg/edit?usp=sharing)

Propose and approve a spend of treasury funds.

## Dispatch Origin

Must be [`Config::SpendOrigin`] with the `Success` value being at least
`amount` of `asset_kind` in the native asset. The amount of `asset_kind` is converted
for assertion using the [`Config::BalanceConverter`].

## Details

Create an approved spend for transferring a specific `amount` of `asset_kind` to a
designated beneficiary. The spend must be claimed using the `payout` dispatchable within
the [`Config::PayoutPeriod`].

### Parameters
- `asset_kind`: An indicator of the specific asset class to be spent.
- `amount`: The amount to be transferred from the treasury to the `beneficiary`.
- `beneficiary`: The beneficiary of the spend.
- `valid_from`: The block number from which the spend can be claimed. It can refer to
  the past if the resulting spend has not yet expired according to the
  [`Config::PayoutPeriod`]. If `None`, the spend can be claimed immediately after
  approval.

## Events

Emits [`Event::AssetSpendApproved`] if successful.

#1579 Summary of Previous Successes and Request for Third Tranche of Funding

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