Cryptoid
Newbie
- Apr 3, 2022
- 20
- 12
What about Polkadot ? Its essentially going to be a blockchain of blockchains and I have a lot of faith in it especially given that Gavin Wood the co founder of Ethereum is the creator.
In the short term the parachain auctions are essentially offering a risk free investment as any DOT you put towards an auction will be given back to you in full when the leasing period for the parachain is over. In exchange you get an amount of tokens native to the project you contributed to in proportion to the amount of DOT you pledged which can used straight away in accordance to the vesting schedule and when the leasing period is over you get ALL your DOT back . The only loss would be if the price of DOT went down between when you pledged to the auction and when the leasing period is over but we are all in luck there becuase DOT is at its lowest price right now since around September 2021 and has plenty of room to go up in value.
DOT is in its very early stages and hass not really found its utility yet in the crypto world, once it does the price will invariably go up.
In the short term the parachain auctions are essentially offering a risk free investment as any DOT you put towards an auction will be given back to you in full when the leasing period for the parachain is over. In exchange you get an amount of tokens native to the project you contributed to in proportion to the amount of DOT you pledged which can used straight away in accordance to the vesting schedule and when the leasing period is over you get ALL your DOT back . The only loss would be if the price of DOT went down between when you pledged to the auction and when the leasing period is over but we are all in luck there becuase DOT is at its lowest price right now since around September 2021 and has plenty of room to go up in value.
DOT is in its very early stages and hass not really found its utility yet in the crypto world, once it does the price will invariably go up.