This is a referendum whose proposer address (0x60eb9fb16c23ff5ab390b29cf797946213f5badb) is shown in on-chain info below. Only this user can edit this description and the title. If you own this account, login and tell us more about your proposal.

Make some on-chain remark.

# <weight>
- `O(1)`
# </weight>

Problem Statement:
- The Polkadot runtime and Statemint runtime need to be upgraded to address various issues and improve functionality.

Significance:
- The Polkadot upgrade (v9170) resolves block time degradation issues and introduces optimized weights and the ability to have an unlimited number of nominators.
- The Statemint upgrade (v700) includes improvements for UI developers, enables bidirectional HRMP channels with parachains, and addresses issues found by auditors.

Proposed Solution:
- Upgrade the Polkadot runtime to v9170 and the Statemint runtime to v700.

Expected Outcomes:
- Improved block time degradation, optimized weights, and unlimited nominators in Polkadot.
- Enhanced functionality for UI developers, bidirectional HRMP channels with parachains, and resolution of issues in Statemint.

Referendum #53