Hi everyone,
Recently I read an article from this forum that inspire me to talk about my perspective on Polkadot platform.
First of all, I’m still beliving that Polkadot has one of the best infra tech’s in crypto pairs and can be protagonist in industry. But projects quitting, low usability by people, problems within protocols, and an apparently inefficient management, lead to a low services supply to society and a low price in the token dot.
Promisses as blockspaces, competing with aws host internet services, vodafone building in the platform, and a higher protocol performance (I don’t know if these thing came up here or were rumors) made me keep the hope in the platform. But when you don’t see these things came up from the papper, you start to desbelive in all things.
One thing that bother me was the all marketing made by Polkadot. Inter Miami, Race and fight sports, do these sponsorships make any sense? when you don’t have too much services to give and delivery to society? Marketing without value is just a show. The rise can happen, but suddenly it can fall, and the fall is even bigger in this case.
Why not use these money getting more people to work in the protocol instead of marketing? What is the return of this marketing? Goods and bads?
An other problem that I see is the inflacionary rate of the protocol. The money printer put more tokens constantly. Thus, when DOT can reach it’s ATH again? There is no discussions about some ultra sound money, like Ethereum? ETH has 120 millions tokens in circulation and sometimes it’s deflactionary. DOT has 1,5 billion tokens, more than 10 times higher and still printing. Ok, price and tokens are not the problem, but as Investor I have to take care of my money as well as others investors. A freezed price move away new investors. Printing to pay sporsonships without logical sense it’s burned money. When you have not so much things to delivery, why you are making people know about you? ‘Fake it until you make it’? We can’t be superficials and live in the imaginationary world of Narnia. Our efforts has to be in develop a efficients protocols and deliver useful services to society and maybe marketing we can let it to another time, a time when we can show people the Polkadot and subsidiaries useful.
One thing lead to another: You supply a lot of good services to society, people start to use it and price, capitalization goes up. What we can’t do is print tokens and get the liquidity avaliable to use it in questionables destinies via marketing. Use this money to hire more people maybe is a lot more effective in the protocol construction. With more services delivered, more people are using the protocol. With more people using it, the price goes up. Everybody’s happy.
What makes me invest in Polkadot was the good tech protocol and mainly descentralization. But maybe we have to start think the protocol as a company, updating how decisions can be made for a better and faster growth. One day is a year in crypto. The descentralization require more time to make a decision and the industry have no mercy to late deliveries. I read about some problems with Parity decision makers. We need stronger leaders in this industry. We have one of the most brilliant minds of our generation, Gavin Wood, providing vision to the protocol. But he doesn’t work alone, he need competent pairs on his side, mainly excellent managers and again, we need start to think Polkadot as a company (a descentralized one, with their own particularities, ok) to perform better along competitors.
Maybe we have to focus one thing per time, I used to hear that Polkadot is the ocean along the islands, linking every another blockchain. I don’t know if this narrative is still correct, but nowdays it’s looks like we are going to be more like Ethereum protocol instead. Be the ocean maybe was our niche, replacing inneficient bridges, why not continue on this? We cannot be our own island, that is our differencial to competitors? we have to have a differential in this industry (and any other). Do the same than others are already doing for a long time will lead us to nowhere unless we are efficient. We have to get our own niche and supply a diferent service to the crypto community to stay in the game.
So, the polkadot community has to ask themselves (in my opinion). Why people prefer anothers protocols instead Polkadot? Where Polkadot are going to invest their money? Which pros and cons of every way? Which way the protocol is going to take? How Polkadot can be the protagonist in the industry? How we are doing things different? Which things that no protocol are doing? and the main question: What are the Polkadot purpose? Let’s get it!
I still belive that Polkadot has one of the best base protocol along the others. As investor, I’m going to take a step back. As a Polkadot enthusiast I will continue express what I think to promote discussion about the best protocol performance. Wrong or right, here I wanted to leave my review and I hope bests for Polkadot protocol.
Thank you!