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Polkadot Under Fire for Heavy Marketing Spend Amid Sustainability Concerns

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Polkadot is facing scrutiny after its treasury report revealed it spent $87 million during the first half of 2024, with $36 million of that going towards marketing and outreach.

At the current spending rate, Polkadot has around $245 million worth of DOT tokens left that could last two years, said head ambassador Tommi Enenke. The treasury will continue to grow as it gets 7% of staking rewards.

DOT has plunged nearly 4% in the last 24 hours to trade at $6.15 as of 07:11 a.m. EST.

Polkadot Under Fire

Over $36 million of the first half’s spending this year was used for activities including advertisements, meetups, events, and conferences. That triggered criticism on X, with X user @DefiIgnas arguing that Polkadot’s heavy marketing spend was futile as it remained “invisible” across social platforms.

X user @seunlanlege said that the treasury was wasting money on “misplaced marketing” instead of investing in development as other blockchains like Optimism and Arbitrum have done.

Manta co-founder Victor Ji echoed this sentiment, and accused Polkadot of discrimination, a toxic environment, and disregard for users.

“We do not want to engage with the Polkadot ecosystem and team at all,” he said. “It is a highly toxic ecosystem that lacks any real value for web3, and it does not focus on users or adoption at all.”

While defending Polkadot, Jeeper, the pseudonymous author of the treasury report, said that the spending was not unusual as all networks have similar expenditures.

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