Community Trust ScoreVerified
The minimum requirement in deposit has disappointed several users.
Polkadot: “Be mindful of DOT account minimum requirement (Existential Deposit)
On Polkadot, if your contribution leaves less than 1 DOT in your account, then the remainder will be wiped. Either contribute everything or leave more than 1 DOT.”
Community response: In other words, DOT will round your account down to 0 if you fall below 0 DOT. Your account will still be active and you will still receive your rewards and be able to get your DOT back in 2 years. This also happens to KSM wallets but the threshold is a lot lower.
For clarity, KSM is the network’s governance token, allowing users to vote on new protocols and the future of the technology.
Just stick 6.1 DOT in at the least. It’s not rocket science. But the price in 2 years when you get them back plus the rewards will be astronomical. Take my Dots.
In 2 years, will be in bear market with DOT around 20$. Unless parity is 1 Dot/300 glimer this is not worth it, just my opinion.
I get that remaining amount will be wiped if its less than 1 DOT. But the wallet stays, right? We will not lose access to wallet in the process, correct? No it won’t be “gone”. It will just not be active, know your stuff.
Exactly. They made it seem as though everything gets deleted included the already contributed dot. And then people are freaking out. Bad communication on their end.
Can I say why the remaining DOT under 1 gets wiped out? This is bad I guess. If I make a car and tell you just hold the door so it will not fall off the rim! Not trying to make fun, but this is bad for Polkadot. Don’t get me wrong I like DOT but, this is scary what else should I worry.
Either don’t allow me to keep less than DOT or fix this. This is my money you are talking about.
I couldn’t contribute everything, because of Gas fees. So I left 0.6 dots on my account that is why it is Zero.
What will happen when DOT price is 100$ or 200$? This is OK if DOT is worth a few cents, but it will feel like an expensive tax for a lot of users specifically from less wealthy countries. I don´t think this is a good system.
This is crap tell that to my 2 kids that they don’t have their DOT I gave them. Worse scam than ETH gas fees.
I found this out the hard way contributing to one of the crowd loans. The ‘max’ option didn’t include the transaction fees. I didn’t think about it and lost .95 DOT. This is a terrible UX and really ought to be addressed. At least give people 24 hours to top their balance before reaping.
I know the potential I see DOT not less than 250$ I am leaving all To the moon
What is the premise behind this design? It is to prevent the blockchain from getting too “bloated” with a lot of accounts with ‘dust’ in them. Learning from mistakes made when Bitcoin and Ethereum were designed.
My 0.9 DOT got reaped Smiling face with tear. This should have been thoroughly explained/cautioned before the auction. Not after the fact. Disappointed.
Same here. Lost almost 1 entire DOT for crowd loaning 5 DOT + transaction fees to refill. I regret already having crowd loaned any dot. Biggest disappointment in crypto. Looks like Polkadot doesn’t care about smaller investors of their community.
Epic design fail. It’s not a design flaw. Just because someone proclaims it to not be a design flaw, doesn’t mean that’s true. As a DOT user I consider this to be a major shortcoming as I’m sure many others feel so.
Oh! I really thank you for letting us know after so many burned DOTs because you don’t mind your users, you don’t mind our money we lost. Now, no one will give me my money back. This is really taking away people from DOT.
