Polkadot Holders Get Ready For The DED Airdrop!

Memecoins Coming To Polkadot

There has been a fair amount of buzz surrounding the Polkadot ecosystem recently. Two new memecoins are about to be airdropped to DOT holders. Well, only one is to be airdropped to DOT holders. The other, PINK, will be airdropped to players of PINK, a Candy Crush-type game. Players play to earn points to qualify for the airdrop. To my knowledge, the qualifying period has just ended though… but don’t quote me on that.

As I mentioned in a recent article, the pre-halving crash is in effect and is likely to produce some juicy discounts. Not a bad idea to grab some cheap DOT for the DED airdrop. It seems that most wallets will be supporting the airdrop. I know that Nova will be supporting DED. DOT holders can also stake their DOT directly from within the Nova suite. I have been extremely bullish regarding DOT and the current bull market.

Not only DOT but more specifically, its ecosystem. There are so many projects I am bullish on, and so, I welcome a market correction. It gives me the opportunity of hopefully gaining some cheaper exposure to projects I was unable to get my hands on over the past few months. If only capital were limitless. However, we all have our limitations and have to work as well as we can within these restrictions.

Trading a set allocation of one’s assets, to increase holdings is one way I use to “stretch” my capital. It works well. However, a sudden burst to the upside can leave you behind if you are not careful, and so strategic planning is imperative when practicing this idea. Getting back to the DED airdrop, the snapshot date is soon to be announced. I am looking to perhaps swap a few more assets into DOT before the snapshot.

Raising The Bar

Unlike most memecoins, DED is designed to introduce more people to the world of Polkadot, as well as offer utility. In my opinion, Polkadot is perhaps one of the most misunderstood projects in the space. Most people have very little understanding of the Polkadot ecosystem and its Parachain network. Polkadot is a layer 0, enabling it to become a dominating force in the Crypto realm.

However, the masses first need to understand Polkadot, before they can appreciate and embrace its contribution and enhancement of the public blockchain space. This I believe will only now begin to unfold. Hopefully, DED will aid in this “awakening”. Many Polkadot-based projects are going to offer special perks to DED holders, and so acquiring DOT will expand beyond speculation and memecoin gambling.

This could perhaps mark the beginning of a new chapter in the memecoin space. BOZO is another memecoin currently offering a fair amount of utility and perks, at least when compared to the average memecoin out there. I have been actively trading memecoins over the past few months and can attest to how much junk exists within this space. Even though memecoins are not to be considered financial assets or investment vehicles, there is a level of excellence that I tend to look out for.

Firstly, no website, X account, or other community-based activity is an immediate red flag. I don’t even consider a “project” that doesn’t tick these boxes. One thing I am interested to see is DED’s price action within the first few weeks. I am hoping that it can break away from the traditional “memecoin dynamic”. I guess time will tell. However, for now, DED believers wait in anticipation.

Final Thoughts

The fact that you can receive DED without actually making a purchase, as such, makes it a rather attractive opportunity, in my opinion. Furthermore, because there will also be additional utility, is yet another reason to perhaps take this memecoin a bit more seriously than your average run-of-the-mill speculative gamble. From what I have seen, there are a lot of newcomers to the Polkadot ecosystem lining up for this airdrop, so perhaps, the marketing angle is working. We wait and see!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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