Polkadot (DOT)
Summary
Polkadot is a Layer 0 blockchain interoperability protocol founded by Gavin Wood (co-founder of Ethereum) and backed by the Web3 Foundation. It introduced a multi-chain architecture connecting independent blockchains via a central Relay Chain and launched its native token DOT in 2017. As of mid-2026, the project is classified as a digital commodity by U.S. regulators, has launched a spot ETF, and is executing a major technical upgrade (JAM), but faces credible concerns around treasury management, an ecosystem exodus of flagship parachains, a bridge exploit, and persistent adoption challenges relative to competitors.
Connected Entities
1 entities- + 3 more
Timeline(13 events)
2016-01-01
Gavin Wood founds Parity Technologies and begins work on the Polkadot concept following his departure from Ethereum.
DailyCoin - History of Polkadot2017-07-01
First Parity wallet hack results in approximately $30 million in ETH stolen from multiple wallets.
Yahoo Finance - Victims of $30M Parity Wallet Hack2017-10-15
Polkadot ICO opens; Web3 Foundation raises approximately $140 million by selling 50% of the initial 10 million DOT token supply.
CryptoPotato - The Story Of Polkadot Starts With The 2017 ICO2017-11-09
A user accidentally triggers a bug in Parity's multi-signature wallet library, freezing 513,774 ETH across 587 wallets. Approximately $98 million of Polkadot's ICO funds are among the frozen assets. Funds remain frozen as of 2026.
CoinDesk - ICO Funds Among Millions Frozen In Parity Wallets2024-06-28
Polkadot releases H1 2024 treasury report showing $87 million in spending for the first half of the year, including $37 million on marketing and events. Community backlash intensifies over burn rate.
BlockBeats - Polkadot spent $87 million in half a year2025-09-14
Polkadot community passes 'Wish for Change' governance proposal establishing a hard supply cap of 2.1 billion DOT.
The Block - Polkadot to tighten tokenomics by capping DOT supply at 2.1 billion2026-03-06
21Shares launches the first U.S. spot Polkadot ETF (TDOT) on Nasdaq, seeded with approximately $11 million.
Nasdaq Press Release - 21Shares Launches Polkadot ETF TDOT2026-03-17
SEC and CFTC issue joint interpretive guidance classifying Polkadot's DOT as a digital commodity, alongside 15 other major crypto assets.
CoinPedia - SEC CFTC Crypto Commodity List 20262026-04-13
Attacker exploits Hyperbridge's Ethereum gateway contract, minting approximately 1 billion fraudulent DOT tokens on Ethereum and extracting approximately $237,000–$250,000 in actual value. Native DOT and Polkadot chain are unaffected. Hyperbridge is paused.
CoinDesk - Attacker mints $1 billion Polkadot tokens on Ethereum2026-05-01
Polkassembly, the primary governance UI for Polkadot and Kusama, shuts down after over five years of operations. Co-founder cites unpaid treasury obligations and ecosystem leadership failures.
Polkassembly website2026-07-31
Moonbeam completes migration of GLMR token from Polkadot to Coinbase's Base Layer 2, departing the Polkadot ecosystem after being a flagship parachain.
The Defiant - Moonbeam to Fully Migrate GLMR From Polkadot to Base2026-08-07
Grayscale Investments withdraws its planned Polkadot, Cardano, and Hedera spot ETF filings from the SEC, with no specific reason given.
Crypto Briefing - Grayscale abandons planned Polkadot, Hedera and Cardano ETF launchesDecision Log
- #1publish⛓ pending8/20/2026, 5:21:01 PMhash: 4WFhceFXHbFw1U3DvmhPYuNttHHsaQ2zKV3V4yqA1vRm
19 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/20/2026, 5:20:51 PM
last updated: 8/20/2026, 8:08:34 PM
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