The reason is their financial strategy. Investing millions in ads, they get 0 results.
How's it possible? Let me show you 🧵👇
1/ Polkadot has $245M, $188M on tokens.
During the first half of 2024, the team spent $87M
That's 2.4x more than during the second half of 2023.
2/ But on what did they spend $87M?
• $37M - Outreach
• $23M - Dev
• $15M - Economy
• $6M - Talent and education
• $4M - Operations
• $2M - Research
Now we'll focus on outreach
3/ The team used $37M to attract new users.
• Sponsorships: $10M
• Events: $7.9M
• Influencers: $5M
• Ads $4M
• Business Development: $3.9M
• Media: $3.2M
• Other: $3M
Spoiler: the number of active accounts only declined
4/ Sponsorships: $10M
◾ $6.8M on soccer club, high chances that's the collab with Lionel Messi and Inter Miami CF
◾ $1.9M on racing, Conor Daly
◾ $1.3M on E-sport tournament, HEROIC is the organizer
5/• Events: $7.9M
◾ $2.9M on Polkadot Decoded and Sub0
◾ $560K on Polkadot Decoded China
◾ $540K on 3 {bash} parties
◾ $420K on Token2049 side event
6/• Influencers: $5M
◾ $2.2M on EVOX
◾ $1.3M on Lunar Strategy
◾ $490K on Chainwire
◾ $460K on Unchained
7/ • Ads $4M
◾ $1M for CoinMarketCap(yes, that ads no one pays attention to)
◾ $900K for EVOX
◾ Another sum is unknown
8/ • Business Development: $3.9M
◾ $1M for partnership with The Tie
◾ $550K for integration of insurance provider Avata
◾ $540K for recruiting future partners in the Decentralized Futures program through Missing Link
◾ Another sum is unrevealed
9/ • Media: $3.2M
There's only the info about Kusamarian($530K) and Behind the Code docuseries($350K)
Plus, Polkadot hired a few other influencers
10/ Polkadot still has $200M in liquid assets. With $108M spent each year, they still have 2 years.
Nothing will change if they don't want to change their strategy.
As well as reduce their inflation
and the most important part is, polkadot onchain users are where..? no activity like sol, base, eth and arb chains.
That's it for today... what you folks think about it..? let me know in the comment section.