Polkadot Community Backs $DED Meme Coin With Unique Approach

With a price increase of over 10,000% in little over a year, Bonk (BONK), a meme coin built on the Solana (SOL) blockchain, has perhaps been the most successful so far. There have been a number of other meme coins that have also done quite well.

The Polkadot community has taken the plunge by launching $DED, a meme coin, implementing a unique strategy that distinguishes it from other cryptocurrency projects.

There is no pre-sale or team allocation for the debut of $DED, making it transparent and decentralized in contrast to other meme coins. Rather, it uses free airdrops as part of a fair token distribution scheme, particularly for Polkadot’s native token DOT holders.

The developers of DED have pledged to airdrop free DED tokens to all DOT holders, which is largely attributed to its attention-grabbing plan.

All eligible holders of DOT tokens have a set percentage allocation as it has opted for a linear distribution methodology. This way, DED may reach a much larger audience without dealing with conventional venture capitalists and investors.

Giotto De Filippi, a supporter of $DED meme coin and a DOT activist, has lauded the new meme coin for its open and decentralized development process, saying that it exemplifies the power and dedication of the Polkadot community.

Giotto De Filippi, DOT Activist and $DED coin enthusiast stated:

“The $DED coin is really a testament to the strength of the Polkadot community. The dedicated Polkadot community have built this from the ground up in a completely permissionless, decentralized, and transparent way while bringing back the fun and whimsy that made many meme coins successful in their own right.”

There was a dramatic increase in involvement within just few days of launch implementing this novel approach, thanks to the enthusiastic backing of the Polkadot community. A committed team is working on DED, and many Twitter polls show that the project has a lot of support from the community.