Is @Polkadot coming back? One of the biggest players in the market 5 years ago, but now its TVL is only around $100M. $DOT has spent years fixing its supply problem Since March, @Polkadot has cut annual $DOT issuance by around 54%, from roughly 120M to ~55M tokens per year Supply is now capped at 2.1B $DOT, issuance will keep stepping down every 2 years, and around 51% of supply is currently staked But the challenge for them is giving people a reason to actually need the token, and lower inflation doesn’t guarantee demand. This is why JAM showed up Polkadot is moving away from being mainly a parachain network toward a more general compute layer where different services can buy network resources through Coretime And the important part for holders: JAM won’t have a separate token $DOT stays the native asset and is still used for network resources, staking and governance JAM is also moving beyond the whitepaper stage now, with production preparation and parachain finality being migrated toward JAM services So the $DOT thesis is starting to look different Less issuance helps the supply side JAM could help the demand side if developers actually start paying for compute and Coretime That “if” is still doing a lot of work though Polkadot has had plenty of capacity before without enough demand to monetize it So I wouldn’t buy $DOT just because inflation got cut I’d watch whether JAM can finally turn Polkadot’s infrastructure into something people are willing to pay for