The Polkadot Community Examines a Research Study on Token Morphism
Currently, the Polkadot community is looking at the feasibility of doing a study on “token morphism.” This phrase describes the procedure that turned the native dot token for the protocol from a security into software. After three years of conversations with the U.S. Securities and Exchange Commission, Polkadot successfully accomplished token morphism in November 2022.
A Polkadot Funding Study will provide recommendations for token morphism.
The initiative is currently thinking about providing financing for a research project that will explore the specifics of how it achieved this change. Guidelines on token morphism will be provided through the planned research paper, sometimes known as a “purple paper,” for Polkadot and the larger crypto community. The study’s financing will support the efforts of the project team and other subject matter experts, including some of the people who took part in Polkadot’s conversations with the SEC.
Web3 Foundation Is Silent Regarding the Funding Request
When The Block contacted the Web3 Foundation, which is in charge of supporting the growth of the Polkadot ecosystem, they declined to comment on the suggested funding for the study.