Money 2.0 Stuff: Saint Livingston, the 'utility token' martyr

In the midst of broad industry layoffs, a severe market downturn, and a remarkable collapse in funding, one project is bucking the trend.

Polkadot, the highly-anticipated interoperable blockchain project led by Ethereum co-founder Gavin Wood, is seeking to raise up to $60 million from a second token sale at a fully-diluted market value of $1.2 billion, having raised an initial $144 million in October 2017. The DOT token serves three distinct purposes: governance over the network, operation, and bonding.