Hi all, I generally post my thoughts on X but I figured the forum is a better platform for this topic.
In light of the recent governance drama I went contemplated about the possible reasons behind the conflict of opinions and interests between the whales and small bag holders. So why many in the community disagree with treasury spending? Why many push for the token burn. So I I’ll play the devil’s advocate here as I could not find an answer for this.
Forget about the hardcore community. What is the actual use case of $Dot token for the user? Why out of many web3 projects, would a random user want to buy $Dot and stake it for the sake of network security? Is there anything other than expectation of profit from staking rewards and token value appreciation?
Yes the soon to be obsolete model actually had a usecase (crowdloans) which is already almost out of use and fell out of favour, due to the poor performance of the parachains and delays in their onboarding and rewards distribution.
Well in the coretime model, the only user based utility of the token will transform into a parachain based utility. It’s all good but here is my question. Does it not create a divide between the community and the devs?
In coretime sales, the teams benefit more from a stable or depreciating $Dot value, where the community with no real usecase of $Dot will benefit from token value appreciation.
I’m not criticising the new model but if that’s the path Polkadot is taking, then why are the users who’s only input and interest is for the $dot token to appreciate in value are given a say in treasury spending, where in fact it should be the coretime customers? Again I’m only pointing out the contradiction here.
So what’s the point of Polkadot marketing focusing on promoting $Dot to users, where in fact they should be promoting $Dot to a different audience which are Devs and enterprises?
I think the treasury spending for marketing initiatives that target users should shift to promote parachains where user onboarding happen and we are currently not doing that well in that department. Otherwise it’s just a waste of money with onboarding users who have no other use for $Dot other than hodling it and would understandably prioritise their bags over the long term goal of the ecosystem which will also reflect in their voting behaviour.
A random user needs an incentive to buy and use dot other than expectation of profit and atm that incentive is nonexistent. So either a usecase for the community should be established or the users should be herded towards the the parachains and apchains where they see some benefits and in turn the parachains will be busier will pay more frequently for coretime.