Polkadot 批准公投 1139：但这对 DOT 意味着什么？

Polkadot 计划降低其 DOT 排放量。上周，社区投票决定在未来几周内将 DOT 通胀率从 10% 降低至 8%

Polkadot (DOT) price has been trending lower in 2023, despite the network’s native token rallying over 200% from lows last year.

尽管 Polkadot (DOT) 网络的原生代币较去年的低点上涨了 200% 以上，但 Polkadot (DOT) 的价格在 2023 年一直呈下降趋势。

However, DOT price is now up over 70% year-to-date, outperforming Bitcoin and Ethereum. But could recent Polkadot DAO decisions impact DOT price?

然而，DOT 价格今年迄今已上涨 70% 以上，表现优于比特币和以太坊。但最近 Polkadot DAO 的决定会影响 DOT 价格吗？

Polkadot DAO has voted to reduce the network’s inflation rate from the current 10% to 8%, with plans to gradually lower it over time. But will this support DOT price or will bears remain in control?

Polkadot DAO 已投票决定将网络的通货膨胀率从目前的 10% 降低至 8%，并计划随着时间的推移逐步降低。但这会支撑 DOT 价格还是空头会继续控制局面？

Polkadot DAO Approves Referendum 1139

Polkadot DAO 批准公投 1139

Polkadot (DOT) price will become scarcer over time as the network plans to reduce its inflation rate. Last week, Polkadot community members voted in favor of reducing the DOT inflation rate from 10% to 8% over the coming weeks.

Polkadot DAO 批准公投 1139 随着网络计划降低通货膨胀率，Polkadot (DOT) 的价格将随着时间的推移变得更加稀缺。上周，Polkadot 社区成员投票赞成在未来几周内将 DOT 通胀率从 10% 降低至 8%。

This decision was made after Polkadot DAO approved Referendum 1139. Of the total vote, over 77% of voters, representing over 63 million DOT, were in favor of this proposal.

这一决定是在 Polkadot DAO 批准公投 1139 后做出的。在总投票中，超过 77% 的选民（代表超过 6300 万 DOT）支持这一提案。

The proposal aimed to reduce the platform’s treasury emissions, which are currently fully inflationary. But this will be achieved by reducing the new issuance of DOT.

该提案旨在减少该平台的国库排放，目前这些排放已经完全通胀。但这将通过减少DOT的新发行量来实现。

The objective was to align the platform’s inflation mechanism with its current operational dynamics, which keeps in mind the network’s original inflation mechanism.

目标是使平台的通胀机制与其当前的运营动态保持一致，同时牢记网络原始的通胀机制。

Initially, the plan was to tie inflation with the staking rate. However, considering the recent sequence of events, especially around network usage, the current inflation rate is no longer optimal.

最初，该计划是将通货膨胀与质押率联系起来。然而，考虑到最近发生的一系列事件，特别是围绕网络使用情况，当前的通货膨胀率不再是最佳的。

Specifically, the introduction of Agile Coretime, which makes the crowdloan model redundant, is pushing inflation higher and to excessive levels.

具体来说，Agile Coretime 的引入使得众贷模式变得多余，正在推高通胀并达到过高水平。

Agile Coretime Pushes Polkadot Inflation

敏捷 Coretime 推动 Polkadot 通胀

Agile Coretime, which came into force in Q3 2024, introduces a spot market for core time. Here, users can buy the network’s core time or processing power in real time, leading to more flexibility.

Agile Coretime 推动 Polkadot 通胀Agile Coretime 于 2024 年第三季度生效，引入了核心时间现货市场。在这里，用户可以实时购买网络的核心时间或处理能力，从而带来更大的灵活性。

Unlike the crowd loan model, core time is agile, meaning it is more market-driven and efficient.

与众贷模式不同的是，核心时间是敏捷的，这意味着它更加市场驱动和高效。

However, this also means that network users can now fully utilize the network’s processing power without having to participate in crowdloans. As a result, staking participation and the amount of DOT being bonded will decrease.

然而，这也意味着网络用户现在可以充分利用网络的处理能力，而无需参与众贷。因此，质押参与度和绑定的 DOT 数量将会减少。

This, in turn, will lead to a lower average staking rate and higher inflation. To counter this, the proposal suggests reducing the inflation rate from 10% to 8%.

反过来，这将导致平均质押率降低和通胀上升。为了解决这个问题，该提案建议将通货膨胀率从 10% 降低至 8%。

Will DOT Price Rise as Inflation Drops?

随着通胀下降，DOT 价格会上涨吗？

With less inflation, new issuance of DOT will become scarcer over time, potentially supporting prices. Eventually, Polkadot plans to reduce inflation to around 120 million per year through inflation and by coretime burns.

随着通货膨胀的下降，DOT 的价格会上涨吗？随着通货膨胀的减少，随着时间的推移，新发行的 DOT 将变得越来越稀缺，这可能会支撑价格。最终，Polkadot 计划通过通胀和核心时间销毁将通胀率降低至每年 1.2 亿左右。

Even so, whether this will support DOT prices remains to be seen. The coin has been trending lower, as the daily chart below shows. DOT is down nearly 70% from March highs.

即便如此，这是否会支撑 DOT 价格仍有待观察。正如下面的日线图所示，代币一直在走低。 DOT 较 3 月份高点下跌近 70%。

(DOTUSDT) price on Binance日からチャート. 出典: TradingView

Binance 图表上的 (DOTUSDT) 价格来源：TradingView。

Moreover, while Polkadot plans to shave inflation, adoption levels remain lower than the set inflation rate. At the same time, with fewer DOT available, it means only a few will trickle into the Polkadot Treasury.

此外，虽然 Polkadot 计划削减通货膨胀，但采用水平仍然低于设定的通货膨胀率。与此同时，由于可用的 DOT 较少，这意味着只有少数会流入 Polkadot 金库。

Whether this will significantly impact how the platform (Foundation) funds new projects and boost ecosystem developments remains to be seen.

这是否会显着影响平台（基金会）资助新项目和促进生态系统发展的方式还有待观察。