DOT
What is DOT?
DOT is the native token of the Polkadot network in a similar way that BTC is the native token of Bitcoin or Ether is the native token of the Ethereum blockchain.
The Planck Unit
The smallest unit for the account balance on Substrate based blockchains (Polkadot, Kusama, etc.) is Planck (a reference to Planck Length, the smallest possible distance in the physical Universe). You can compare DOT's Planck to BTC's Satoshi or ETH's Wei. Polkadot's native token DOT equals to 1010 Planck and Kusama's native token KSM equals to 1012 Planck.
Polkadot
| Unit | Decimal Places | Conversion to Planck | Conversion to DOT |
|---|---|---|---|
| Planck | 0 | 1 Planck | 0.0000000001 DOT |
| Microdot (uDOT) | 4 | 104 Planck | 0.0000010000 DOT |
| Millidot (mDOT) | 7 | 107 Planck | 0.0010000000 DOT |
| Dot (DOT) | 10 | 1010 Planck | 1.0000000000 DOT |
| Million (MDOT) | 16 | 1016 Planck | 1,000,000.00 DOT |
DOT was originally equal to 1012 Planck just like Kusama (which is referred to as "DOT (old)"), but went through a process of redenomination which increased DOT's supply by 100x. As a consequence, 1 DOT now equals to 1010 Planck.
Kusama
| Unit | Decimal Places | Conversion to Planck | Conversion to KSM |
|---|---|---|---|
| Planck | 0 | 1 Planck | 0.000000000001 KSM |
| Point | 3 | 103 Planck | 0.000000001000 KSM |
| MicroKSM (uKSM) | 6 | 106 Planck | 0.000001000000 KSM |
| MilliKSM (mKSM) | 9 | 109 Planck | 0.001000000000 KSM |
| KSM | 12 | 1012 Planck | 1.000000000000 KSM |
What are the uses of DOT?
DOT serves three key functions in Polkadot:
- to be used for governance of the network,
- to be staked for the operation of the network,
- to be bonded to connect a chain to Polkadot as a parachain.
DOT can also serve ancillary functions by being a transferrable token. For example, DOT stored in the Treasury can be sent to teams working on relevant projects for the Polkadot network.
These concepts have been further explained in the video Usage of DOT and KSM on Polkadot and Kusama.
DOT for Governance
The first function of DOT is to entitle holders to control the governance of the platform. Some functions that are included under the governance mechanism include determining the fees of the network, the addition or removal of parachains, and exceptional events such as upgrades and fixes to the Polkadot platform.
Polkadot will enable any holder of DOT to participate in governance. For details on how holders can participate in governance, as well as their rights and responsibilities, see the governance page.
DOT for Consensus
DOT will be used to facilitate the consensus mechanism that underpins Polkadot. For the platform to function and allow for valid transactions to be carried out across parachains, Polkadot will rely on holders of DOT to play active roles. Participants will put their DOT at risk (via staking) to perform these functions. The staking of DOT acts as a disincentive for malicious participants who will be punished by the network by getting their DOT slashed. The DOT required to participate in the network will vary depending on the activity that is being performed, the duration the DOT will be staked for, and the total number of DOT staked. For more information about staking on Polkadot visit the dedicated staking page.
DOT to Access Cores on the Relay Chain
DOT can be used to purchase coretime in-bulk or on-demand and access the relay chain to benefit from Polkadot's security and interoperability.
Token Issuance
Total Issuance
The total issuance is the total number of token units in existence on the network.
Inactive Issuance
The inactive issuance is the total units of outstanding deactivated balance on the network that cannot be used for participation in governance. This comprises tokens locked away in crowdloans and nomination pools.
Active Issuance
Active issuance = Total issuance - Inactive issuance
All the tokens under active issuance are can be used to participate in the governance on-chain.
Obtaining Testnet Tokens
DOT are required to make transactions on the Polkadot network. Tokens on Polkadot's Testnets do not have any value besides allowing you to experiment with the features on the network.
Tokens for each testnet described below can be obtained here.
Getting Tokens on the Paseo Testnet
The Paseo testnet mirrors the Polkadot runtime and it is maintained by the community. The PAS tokens can be obtained here and have the same Planck conversion as Polkadot's native token DOT.
| Unit | Decimal Places | Conversion to Planck | Conversion to PAS |
|---|---|---|---|
| Planck | 0 | 1 Planck | 0.0000000001 PAS |
| Microdot (uPAS) | 4 | 104 Planck | 0.0000010000 PAS |
| Millidot (mPAS) | 7 | 107 Planck | 0.0010000000 PAS |
| Dot (PAS) | 10 | 1010 Planck | 1.0000000000 PAS |
| Million (MPAS) | 16 | 1016 Planck | 1,000,000.00 PAS |
Users can also obtain PAS by posting !drip <PASEO_ADDRESS> in the Matrix chatroom
#paseo_faucet:matrix.org.
Getting Tokens on the Westend Testnet
Polkadot's testnet is called Westend.
Besides the official faucet, you can obtain its native WND
tokens by posting !drip <WESTEND_ADDRESS> in the Matrix chatroom
#westend_faucet:matrix.org. Your account will be
credited with 1 WND by default. You can also specify to get more tokens by
!drip <WESTEND_ADDRESS> X, where X is the number of tokens.
On the Westend network, you can also earn WNDs as rewards by becoming a validator. Watch the video below on how to get started on Westend.
| Unit | Decimal Places | Conversion to Planck | Conversion to WND |
|---|---|---|---|
| Planck | 0 | 1 Planck | 0.000000000001 WND |
| Point | 3 | 103 Planck | 0.000000001000 WND |
| MicroWND (uWND) | 6 | 106 Planck | 0.000001000000 WND |
| MilliWND (mWND) | 9 | 109 Planck | 0.001000000000 WND |
| WND | 12 | 1012 Planck | 1.000000000000 WND |
Faucets support
If you require help with using faucets, or wish to report an issue, there is a support chat #faucets-support:matrix.org, or you can create an issue directly in the faucets repo
Kusama Tokens
Unlike testnet DOT, Kusama tokens are not freely given away. Kusama tokens are available via the claims process (if you had DOT at the time of Kusama genesis) or through the Treasury. Alternatively, they can be obtained on the open market.
Polkadot Mainnet DOT
Polkadot Mainnet DOT are not freely given away. If you purchased DOT in the original 2017 offering, you may claim them via the Polkadot claims process. Alternatively, they are available on the open market.