Hello everyone,
We recently allowed one of our Polkadot core slots to expire without renewal to observe market demand under natural conditions. Almost immediately, the core was acquired for approximately 922 DOT, showing that our thesis that cores are a valuable resource that was undervalued was correct. This is a reminder that those in the ecosystem who previously convinced DOT holders that cores were valueless were wrong.
As of today, we hold 73 out of 94 Kusama cores and 9 out of 22 Polkadot cores.
Based on on-chain data, we assess that the buyer was Parity Technologies. We would like to remind Parity Technologies that our inbox is always open if they would like to purchase additional cores from us, which will be ultimately cheaper in the long run. We are surprised that Parity has not suggested the use of an escrow account or similar in their negotiations.
To Parity or any other parties, always feel free to email us here regarding the purchase of Polkadot or Kusama cores: coretimenegotiation@proton.me
This shows that Parity’s initial offer of 200 DOT was, as we stated, a low-ball offer, which then resulted in our high-ball offer. The core, which was purchased recently, has a renewal price of ~922 DOT, which is far greater than our cores that renew at ~9 DOT. In fact, in just 4 months, it would have been better to purchase one or more of our 9 DOT cores, without trying to negotiate the initial purchase price lower.
Analysis of the relevant blocks indicates that the purchasing account submitted multiple tip transactions—totaling roughly 386 DOT—suggesting limited familiarity with the coretime mechanism. This activity highlights persistent flaws in the system’s design and the need for continued refinement.
https: //coretime- polkadot .subscan.io/extrinsic/1941750-2 - 47 DOT tip
https: //coretime- polkadot. Subscan. io/extrinsic/1941750-3 - 47 DOT tip
https ://coretime- polkadot. subscan. io/extrinsic/1941750-4 - 47 DOT tip
https: //coretime- polkadot. subscan. io/extrinsic/1941750-5 - 47 DOT tip
https:/ /coretime- polkadot. subscan. io/extrinsic/1941750-6 - 47 DOT tip
https:/ /coretime- polkadot. subscan. io/extrinsic/1941750-7 - 47 DOT tip
https:/ /coretime- polkadot. subscan. io/extrinsic/1941750-8 - 47 DOT tip
https:/ /coretime- polkadot. subscan. io/extrinsic/1941750-9 - 47 DOT tip
https:/ /coretime- polkadot. subscan. io/extrinsic/1941750-10 - 10 DOT tip
This account was heavily funded to attempt to obfuscate the amount of DOT that would be tipped. Unfortunately, the owner of these accounts wasted ~386 DOT in tips, which to remind everyone is more than the amount of DOT they offered for our core originally for Mythos, which we hope goes to show the extent of Parity, Web3 Foundation and the Polkadot Technical Fellowship’s mental gymnastics and dishonesty into the actual value of cores.
We would like to thank those from the community who reached out to us via email to express their gratitude for the actions we have undertaken, which seems to have spurred on a renewed vigor in the Polkadot Technical Fellowship, which the token holders pay, to fix fundamental issues with the coretime system. Token holders should always scrutinize the Polkadot Technical Fellowship, and the Polkadot Technical Fellowship should work for the benefit of token holders and ecosystem teams; otherwise, we would suggest that token holders vote NAY on any future salary payment referendums to that collective. We would also suggest that the community of DOT token holders actively review the salary claims from members of the Polkadot Technical Fellowship to ensure that fellows are not double or triple claiming for the same work they carry out under their work at Parity Technologies, Web3 Foundation, and treasury grants.
We still have people emailing us who wish to purchase cores; however, we do not believe these people understand how coretime works, and it is difficult to demonstrate the options these potential clients have, which we believe reinforces our original statement about the lack of documentation and complexity of the coretime mechanism. We remain open for offers and negotiation for our owned cores.