Anyone can create a proposal and request Treasury funds for initiatives that benefit the network, from software or infrastructure development, to outreach and hackathons, or educational content such as videos, blogs and translations.
The Treasury started with around 500,000 KILT in November 2020 when KILT launched as a decentralized network. Around two million newly-minted KILT Coins are added per year for the first five years, as outlined in the KILT Coin Metrics document.
Additionally, half of the KILT transaction fees go to the Treasury. This provides enough funding for the chain to be self-sustainable in the long term, with enough to self-fund its parachain slot on Polkadot.
See current proposals and join the discussions on Polkassembly.