Write about the DOT Polkadot project.
I took a look and it seems like it's just a mess of defenses right now.
1. Polkadot is a cross-chain interoperability project, and according to the project's vision, there are many chains plugged into Polkadot that can interact cross-chain. The idea is beautiful, but the reality is terrible.
2. After the Polkadot slot auction, Polkadot has not increased in value; it's only seen significant drops or slight declines, never really increasing. The hype was too big.
3. Polkadot was once a top ten market cap project, but currently, the dozens of chains on Polkadot are ghost chains, with hardly anyone interacting on them.
4. It's been criticized for taking too big of steps and getting stuck; right from the start, it wanted other chains to be built on its foundation. Looking back, most of the impressive public chains were built independently.
5. I noticed the price seems to have broken down; unless the ecosystem produces some projects, it feels basically doomed.
6. It seems it can also be used for cross-chain, but I feel like I haven't really used Polkadot for cross-chain; either you use an exchange, or you use debridge. Does anyone really use this thing?
Looking at a big pile of trapped positions waiting for VC institutions to pump it, it feels like there's basically no hope, and DOT doesn't have any ETF application information.
Welcome to discuss.
