UPDATE: Gavin Wood has declared he personally does not intend to launch a new JAM token, nor does he recommend this path for Parity or W3F, who ultimately make their own decisions. Thank you for the clarification. Therefore this post is largely invalidated, except for that faction who were/are pushing for a new token.

https://forum.polkadot.network/t/introducing-a-new-jam-token/13029/43

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Dear JAM Implementors,

A few days ago, Polkadot founder Gavin Wood publicly stated he's "considering" launching JAM as a new token, though he's apparently undecided.

Surprising indeed, particularly for investors who've placed substantial sums into Polkadot based on explicit, repeated assurances that JAM would strictly be a technical upgrade—with no new token issuance.

Let’s put this bluntly: this casual statement significantly altered market behavior. As someone deeply embedded in the market daily, I can assure you, Gavin’s casual remark ranks among the most irresponsibly stupid moves in crypto history.

It’s morally akin to a husband casually announcing at the family dinner table his plans to breed with the neighbor’s wife to "improve the family’s genetics," funding this experiment by liquidating family assets. Technically sound genetics perhaps, but a gross betrayal and act of hostility against the family who trusted and invested in him.

Perhaps Gavin’s grown used to unchecked privilege, losing touch with reality and ethical norms. But make no mistake: in the real world, issuing JAM as a new token constitutes a direct act of war against every DOT investor since JAM's initial announcement.

We're talking billions of dollars in capital from institutions and individual investors, deployed specifically because of public assurances made by Gavin, Parity, and the Web3 Foundation (W3F).

Let’s recall clearly:

• JAM only exists because of DOT. The Web3 Foundation, initially allocated 300MM DOT tokens (now significantly more due to staking), funded the entire JAM initiative.
• JAM implementors explicitly accepted DOT remuneration with a clear social agreement: JAM would be an upgrade, not a competing token. These statements are publicly documented—any attempt at deletion now is futile; records are already archived.

Launching JAM as a new token thus unequivocally implies:

• A blatant breach of the social agreement and fiduciary duties by JAM implementors, who took remuneration under explicit assurances of "no new token."
• A legally actionable violation, opening doors for broad civil litigation seeking substantial damages under theories of breach of contract, fiduciary violation, and multi-jurisdictional fraud.
• Triggering a catastrophic "death spiral" for DOT as investors, stakers, and bonders flee, devastating the token’s price and security.
• Exposing W3F as potentially fraudulent from inception, used effectively as a front to fund and launch DOT’s direct competitor. This is textbook financial fraud territory, and every actor involved would face extensive, ruinous litigation.
• Public statements by Gavin and representatives from Parity and W3F explicitly promising no new tokens now constitute fraud. Legal defense claiming DOT isn’t a financial instrument might fool online communities but won't stand scrutiny in court.
• Evidence strongly suggests deliberate DOT dumping anticipating a JAM launch, explaining DOT’s suppressed market performance—this compounds the severity of the fraud already outlined.

Even if legal cases ultimately fail, as my barrister family member informs me--the legal process is about financial attrition not justice—it's about ruining your opponents financially before the verdict. Most cases end not in court verdicts, but in forced financial concessions through bankruptcy-inducing litigation costs. Ask yourself: will ethically dubious figures like Gavin or W3F back you when things inevitably turn ugly?

Consider Elon Musk, still battling court cases over a handful of tweets and DOGE coin losses that pale compared to the billions at stake here. You think your situation will fare better?

Litigation grants vast subpoena powers, enabling deep exploration of your personal and financial affairs. If unrelated criminal activities surface during discovery, attorneys are legally compelled to report to authorities. You better pray you're spotless and have infinite resources—or prepare for bankruptcy, prison, or both.

Think very, very carefully about your next move -- issuing new tokens can be very detrimental to your health, wealth and happiness.