Polkadot has taken a decisive step by introducing a supply cap for its native token, DOT. For years, the network operated with no maximum limit, releasing roughly 120 million new tokens annually. That has now changed.
Through Referendum 1710, passed with 81% approval, Polkadot’s governance community has agreed to cap supply at 2.1 billion.
This marks a turning point in how DOT’s monetary policy is shaped and signals a shift towards scarcity, predictability, and long-term sustainability. This article explores the details of the cap and how community governance brought it to life.
The New Capped Supply
Until this decision, DOT had no maximum supply. The network created about 120 million new tokens each year, a system that allowed continuous inflation without an endpoint.
At the time of the vote, roughly 1.6 billion DOT were in circulation. If the old rules had remained, projections showed that supply could have reached around 3.4 billion by 2040.
The new model halts this path of unlimited expansion. With the hard limit set at 2.1 billion, token issuance will now slow down significantly. Polkadot has introduced a schedule where issuance steps down every two years, notably on 14 March, aligning with what the community calls Pi Day.
Based on current calculations, the total supply by 2040 is expected to be about 1.91 billion. This figure is far below what would have been minted under the old framework, meaning fewer tokens will enter the market in the decades ahead.
Supporters highlight that this shift gives DOT a clearer long-term position. Investors now have more certainty about supply, a factor often compared to capped assets such as Bitcoin.
Scarcity plays a major role in how assets are valued, and with this change, DOT now joins the group of cryptocurrencies that place limits on issuance to preserve value. The emphasis is on predictability and stability, two qualities that can strengthen trust within the ecosystem.
For Polkadot, this is not only a matter of numbers but also of positioning. With a capped supply, the network shows it is ready to prioritise sustainability and controlled growth over endless expansion.
It signals a readiness to adapt and align with the demands of both the community and the wider crypto environment.
Governance Behind the Decision
The introduction of a supply cap was not dictated by a central authority. Instead, it was achieved through Polkadot’s decentralised governance system, OpenGov, which launched in 2023. OpenGov allows every DOT holder to participate directly.
They can propose changes, cast votes, or delegate their voting power to others. This framework ensures that decisions reflect the voice of the broader community rather than a limited group.
Referendum 1710 was put forward under the “Wish for Change” track, which is designed to capture significant updates to the network.
When the vote concluded, 81% of participants supported the measure. Such a strong majority indicates widespread agreement among holders that the previous inflationary model no longer served the best interests of the ecosystem.
The governance process has two major implications. First, it shows that the community is not only active but capable of shaping fundamental aspects of Polkadot’s economic design.
A supply cap alters the very foundation of how DOT functions as an asset. That such a step was initiated and endorsed through collective decision-making highlights the strength of OpenGov as a tool for community-led policy.
Second, the outcome reflects a shift in values. By endorsing scarcity over perpetual issuance, the community has signalled a preference for long-term value preservation.
It represents a maturing approach, where holders balance growth with sustainability and place greater importance on predictability. The governance behind this decision also sends a wider message.
In a time when many projects face questions over transparency and centralisation, Polkadot has demonstrated that its model allows real change through open participation. The capped supply stands as a direct result of decentralised governance at work.
Conclusion
The decision to cap DOT’s supply at 2.1 billion marks a historic moment for Polkadot. It shifts the network away from unlimited expansion to a model built on scarcity and predictability.
With issuance slowing every two years, projections now point to a far lower supply by 2040 than under the old model.
Beyond the numbers, this outcome highlights the power of Polkadot’s governance system, where the community drove a fundamental change in tokenomics. By choosing to limit supply, holders have shown a readiness to prioritise sustainability and value preservation.