Polkadot’s asset, DOT, could easily fall into the “securities” category. It was used to raise funding for the development of the Polkadot ecosystem many years ago. However, the Web3 Foundation argues that is all in the past. Thanks to the ongoing evolution of the Polkadot ecosystem, its native token now has real utility. In addition, it is part of a broader decentralized ecosystem, resulting in DOT being more akin to “software”.

A lot has changed for Polkadot since the fundraising days. It is now a vibrant network for decentralization and Web3 development. Moreover, the DOT token plays a crucial role in the ecosystem. It is no longer an asset issued to raise funds but ensures the growth and maintenance of the parachain ecosystem, network governance, and staking. Those who hold DOT have the final say in the Polkadot protocol.