Unexpected changes in the tokenomics of the DED memecoin airdrop on the Polkadot network have sparked sharp criticism within the community, as the initially announced 100% emission was reduced to 5%.
During a conference on X Spaces, developers explained that the decision to retain tokens was made to support the project’s further development. Initial support for the project came from the Polkadot treasury.
“Once you distribute 100%, you run out of ammunition. […] Because they voted for not willing to continue funding the project then it makes more sense to distribute less, and then the rest of the tokens can be used later to finance the project,” explained one of the initiators of DED, Jotto De Filippi.
AAG #116 Spotlight:
What did @giottodf say the day before DED v3? pic.twitter.com/2UdpyAhGNi
— The Kusamarian (@TheKusamarian) March 23, 2024
The token airdrop started on March 23rd, with users receiving 36 DED for each DOT coin they held at the time of the snapshot on March 18, 2024. However, questions arose in the community immediately: why not the originally proposed 1000 DED per DOT?
An investor using the pseudonym Orlando admitted that emotions on social media regarding the airdrop “went through the roof.”
Polkadot ⭕️
I wasn't going to comment on this because emotions are running high on social platforms, but I want to share my thoughts.
Like everyone else, I'm disappointed with how the DED situation unfolded. The treasury spent money, and many people recently bought and held… pic.twitter.com/vWaQMyYu04
— Orlando (@OrlandoG85) March 23, 2024
Orlando urged not to accuse the project authors, led by De Filippi, of scamming. In his opinion, the team sincerely tried to use the meme token hype to promote the Polkadot ecosystem.
This view was not shared by a user named BlockPalid. He noted that DED developers not only unexpectedly changed the tokenomics but also misled the community by claiming the existence of initial investors in the asset. In reality, the funding came from the treasury.
Yes, sure… sure…
Getting funded by treasury to create a meme coin, where? In polkadot.
Changing tokenomics, last minute, where? Polkadot.
Saying that there’s pre investors, when in reality the pre investors is the treasury itself (everyone)
Corruption on the highest level.— BlockPalid (@BlockPalid) March 23, 2024
According to Dune, 99.9972% of the airdrop has been distributed at the time of writing. Owners of 1.305 million accounts have claimed their coins—1.383 million addresses were eligible for this right based on the snapshot.
DED tokens will remain frozen until they are listed on exchanges to avoid pressure from sellers.
According to CoinGecko, the market capitalization of the meme coin segment has exceeded $59 billion. Over the last 24 hours, the figure has increased by 6.4%, while the total crypto market volume has grown by 2.4%.
Recall that in 2024, Polkadot attracted only 1.1% of global investor interest in blockchain ecosystems. Solana, the leading platform, accounted for over 49%, according to CoinGecko research.
