To define the final denomination of its native DOT (IOU) token, Polkadot initiated a vote on its community two weeks ago. Now the results have come out (head over to https://polkadot.network/the-results-are-in/ to learn more details)!
Among the four options (no change, split of 10X, split of 100X, and split of 1000X), the community vastly favours a New DOT (IOU) denomination which is defined as 10,000,000,000 Planck or, put alternatively, a “stock-split” of the original, old DOT (IOU) by one hundred. Specifically, of the 2.86 million DOT (IOU) that cast a vote, 2.47 million DOT (IOU) (that’s 86%) voted in favour of this split. Only around 120 thousand (that’s 4%) voted to keep the old denomination.
It’s expected that DOT (IOU) transfers will begin at block #1,205,128, on the 18th of August, and that Polkadot’s 'Denomination Day' will be the 21st of August. Specifically, it will be at block #1,248,328.
As DOT (IOU) has been listed on Gate.io, we will follow Polkadot’s decision to support the DOT (IOU) split of 100X.
Trade DOT (IOU) at: https://www.gate.io/trade/DOT_USDT
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July 28, 2020
