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DOT Vision - Post JAM
Hi all,
I would like to start a discussion regarding what is the vision for DOT after the supposed relay chain -> JAM ugrade.
It is imperative to align on the vision and utility of DOT token after the JAM upgrade.
Currently DOT utility is:
- Relay chain security - Validator / Nominators staking.
- Execution fees.
- Payment of core time in parachain model.
- Polkadot network governance power.
- Economic utility (Defi, Payments, etc).
It is imperative that main stakeholders of the polkadot network / JAM (parity, W3F, JAM Implementers DAO) clarify what is the vision for DOT after the upgrade.
We need more utility for DOT and not less so my expectation is that after the upgrade the DOT utility is the following:
- JAM Chain security - Validator / Nominators staking.
- DA storage payments. (Pay in DOT for service data storage).
- GAS payments. (Even if possible to use other coins always convert to DOT).
- Payment of core time in parachain model.
- Polkadot network governance power.
- Economic utility (Defi, Payments, etc).
I understand that it might be tempting to create a new JAM token for the following:
- JAM Chain security - Validator / Nominators staking.
- DA storage payments.
- GAS payments.
However if this is the case basically the DOT token will only be used in the "legacy" parachain model. Even if not considered legacy, this will be the market perception.
My previous statements are about the polkadot network. Anyone will be able to create a JAM chain using any token in the same way anyone can create a substrate chain with any token.
Looking forward to hear your ideas and get clarity on this.
Comments (1)
Good to have a fresh new discussion on this, as the older ones are either too old, or were left in the dark.
I do believe that keeping things around DOT is better, specially when we're looking for more use cases for it. I hope once its time to vote, the community will vote right! If everything is related to DOT, it becomes stronger in the long run.
@mr_willmedina I know this will need to be voted at the right time but it would be important to get a few comments about this to clarify the future. Specially when we are talking about introducing a hard cap. A clear statement of intent to have DOT token used on JAM security together with hard cap would supercharge DOT value.