Golden Finance reported that Gavin Wood, the founder of Polkadot, gave a clear response on the Polkadot forum to the related questions about whether to issue the JAM Token. He made it clear: “Personally, I have no intention of issuing new tokens based on the JAM protocol, and I also believe that it is not a wise move for Parity and the Web3 Foundation to issue such tokens. Of course, the leadership of these organizations has the power to make their own decisions.”
Since its proposal, the JAM protocol has attracted much attention. It is regarded as an important technical direction for the development of the Polkadot ecosystem and is expected to drive further breakthroughs in performance and functionality for Polkadot. On April 18, 2024, at the Dubai Token 2049 event, Gavin Wood officially announced the release of the JAM Grey Book. The JAM protocol will replace the current technical role of the relay chain and facilitate the innovative exploration of Polkadot ecosystem projects with its modular and simplified technical design. It integrates the elements of Polkadot and Ethereum, providing a global singleton permissionless object environment and a secure sideband computing solution, and achieving parallel processing on scalable node networks.
Gavin Wood further elaborated on his views on the relationship between the new project and Polkadot. He mentioned: “I usually oppose those behaviors that cannot bring actual net benefits to Polkadot.” However, I will also continue to explore those ideas that might bring long-term value to Polkadot. In these explorations, sometimes new tokens will be involved. However, it should be made clear that these tokens usually form a symbiotic relationship with DOT. Their existence is to enhance the DOT ecosystem, rather than to replace DOT.
From the perspective of Polkadot’s ecosystem development, DOT, as the core token of the Polkadot ecosystem, plays a crucial role in multiple aspects such as staking, governance, and transaction fee payment. The issuance of any new token may have an impact on the existing ecological balance and affect the status and value of DOT. Gavin Wood’s statement this time undoubtedly gave the market a reassurance, clarifying that the development of the JAM protocol will not come at the expense of DOT. This also reflects his caution and prudence in promoting the development of the Polkadot ecosystem, with a focus on maintaining the stability and sustainability of the ecosystem. Subsequently, whether Parity and the Web3 Foundation will follow Gavin Wood’s viewpoint and abandon the issuance of JAM Tokens, and how the JAM protocol will further empower the development of the Polkadot ecosystem without relying on new tokens, are all worthy of continuous attention from the industry.
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