- The DAO voted to cap the offer of parts.
- DOT is down 93% compared to its top of all time.
- Polkadot has underperform competitors like Ethereum.
The community behind Polkadot, the blockchain of $ 6.3 billion founded by Gavin Wood, has just moved to cap the total amount of tokens that the network will never be released.
Sunday, Polkadot Dao, the community managing the network, executed a proposal to limit the total offer of the cryptocurrency to 2.1 billion.
The measure was adopted with an approval of 81% among the participants in the vote.
Polkadot’s supply of coins is currently 1.5 billion points.
The movement narrows the mechanism which issued 120 million new points tokens each year and code the rarity in the supply of blockchain.
Rarity is a favored story among crypto traders and is one of the forces attributed to Bitcoin by his supporters. The argument is that tokens with high inflation dilute the value of investor assets.
Other block chains like BNB and Shiba Inu regularly burn their own tokens to reduce the total supply and make the tokens more precious. The burns permanently withdraw the tokens from the supply.
Sharting of points
Monday, DOT exchanged $ 4.19, a drop of 6% in the last 24 hours.
But, this is step with the broader slowdown in the market on Monday while Bitcoin is down 1%, while Ethereum and XRP have both lost more than 3%.
However, Dot bled 93% on its summit of $ 4.46 reached in November 2021.
Meanwhile, the great cryptocurrencies, such as Bitcoin and Ethereum, recently established new price records.
The collapse of the dowry token is only part of the problems of the blockchain in difficulty.
Replacing Polkadot
Presented as a competitor Ethereum and designed by Gavin Wood, co-creator of the very praised rival, Polkadot subperformed.
Ethereum is the largest DEFI blockchain with more than $ 132 billion in investor funds on several protocols.
Meanwhile, Polkadot and its parachains, subsidiary blockchains that execute the same code as Polkadot, represents only $ 423 million in investor funds.
Last summer, Wood unveiled a plan to reorganize the blockchain with stablecoin and a reduction in project security expenditure.
Osato Avan-Nomayo is our DEFI correspondent based in Nigeria. It covers Defi and Tech. Do you have a tip? Please contact him at Osato@dlnews.com.
