Lunar

Polkadot

Million

The controversy stems from a June 28th treasury report which showed Polkadot spent $87 million in the first half of 2024, with over 40% – or $36.7 million – allocated to “outreach” activities. 
This category reportedly includes influencer payments, sponsorships, conferences, and digital advertising. The report also details a decline in treasury revenue, dropping from 414,291 DOT to 171,696 DOT between the second half of 2023 and the first half of 2024. 
Community members have expressed concerns about the sustainability of this spending, particularly in light of the reported $245 million remaining in the treasury. 
Head ambassador Tommi Enenkel, the report’s author, acknowledges this, stating, “At the current rate of spending, the Treasury has about two years of runway left.” However, he adds that the volatile nature of cryptocurrency makes precise predictions difficult. 
Further criticism centers on the specific breakdown of outreach spending. Social media user comments highlight a $53,000 invoice for a dynamic logo on <a href="https://x.com/edison0xyz?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1808033352680890722%7Ctwgr%5E0ab58d7dd01efce6e0a6032f63bdba7d717d3eb1%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fprotos.com%2Fpolkadot-accused-of-lighting-money-on-fire-spent-50k-on-coingecko-logo%2F" rel="nofollow" target="_blank">CoinGecko</a>, while others discuss rumors of influencer payments reaching $300,000 per month. 
Venture capitalist Adam Cochran <a href="https://x.com/adamscochran/status/1807813912970059932" rel="nofollow" target="_blank">summarized</a> the sentiment, calling the outreach spending “lighting money on fire” and noting a lack of visibility for Polkadot’s marketing efforts. 
Polkadot maintains that the influencer budget is distributed among multiple agencies, with $2.2 million, $1.3 million, and $490,000 allocated to EVOX, Lunar Strategy, and Chainwire respectively. 
With the community divided, it remains to be seen whether Polkadot will adjust its spending strategy or if its current approach will yield the desired results. 
The token has not dumped, as someone might think. In fact, the token is up 2% in the past 24 hours. 
<img loading="lazy" decoding="async" class="size-full wp-image-45905 alignnone" src="https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap.webp" alt="DOT 1D graph coinmarketcap" width="1200" height="800" title="Polkadot Spends $87 Million in First Half of 2024, Raising Concerns About Runway 27" srcset="https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap.webp 1200w, https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap-300x200.webp 300w, https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap-1024x683.webp 1024w, https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap-768x512.png 768w, https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap-750x500.png 750w, https://crypto.ro/en/wp-content/uploads/2024/07/DOT_1D_graph_coinmarketcap-1140x760.png 1140w" sizes="(max-width: 1200px) 100vw, 1200px">

Polkadot Spends $87 Million in First Half of 2024, Raising Concerns About Runway

crypto.ro global

Otros artículos publicados el 2 jul 2024

How To Earn Passive Income With Moonbag Referral Programme: Unleash The Power Of Moonbag Stacking...

VanEck’s Matthew Sigel Confirms Solana ETF A Bet On Trump Winning The Election

Iris Energy Raises $413 Million To Fund Expansion

US Marshals Service Partners with Coinbase for Digital Asset Management

German Government Sells Another $17M In Bitcoin

Crypto News Today: Crypto Hold Breath Ahead of Powell Speech

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!