Polkadot (DOT)

If you invested $10,000 in $DOT 5 years ago at peak, today it would be worth just $136.

What happened here ? https://t.co/REuqjrxbt0

Gavin's follow-up on JAMKB answers many of the questions raised after his first post.

My takeaway:

JAMKB is not intended to compete with DOT.

DOT remains the governance token. DOT holders collectively control DOT DAO, and if Polkadot upgrades to JAM, DOT DAO initially owns all JAMKB.

The goal Gavin describes is to make Polkadot economically sustainable.

Today, validator incentives are funded largely through inflation because coretime revenue isn't enough.

Under JAM, DOT DAO would own two scarce resources:
• Coretime (compute)
• JAMKB (state/footprint)

If developers build valuable applications on JAM, DOT DAO can monetize both. The proceeds could then be used however DOT holders decide: reduce inflation, buy back DOT, burn DOT, fund builders, grow the treasury, or other ecosystem initiatives.

The technical argument for JAMKB hasn't changed.

The economic argument is much clearer now: make Polkadot's infrastructure valuable enough that it eventually pays for itself.

There are still important governance questions around distribution, pricing, and whether JAMKB should be sold for DOT, dotUSD, or something else, but I think this follow-up provides much-needed context to the original proposal.

Worth the read.

https://t.co/B9uSUvChSX

👀