CoinDesk Suspends DESK Reward Token Program

• Support for DESK Token Temporarily Suspended
• The Purpose and Use of DESK
• Challenges with DESK

Support for DESK Token Temporarily Suspended

Support for a rewards token known as DESK, initially introduced at the digital Consensus 2021 and later re-introduced on the Polygon$0.967 -3.65% blockchain in 2022, has been temporarily put on hold. DESK was initially created as a trial to explore innovative methods to engage a media and event organization's audience. It was not designed to possess any monetary value and was never officially sold.

The Purpose and Use of DESK

DESK was primarily gained by Consensus participants and readers through engagement with related content, and was redeemable for rewards such as Non-Fungible Tokens (NFTs) and merchandise. The terms of service strictly prohibited the trading of this token.

A significant part of the user base interacted with DESK in the manner it was intended - as a community engagement tool - and derived tangible benefits, particularly at Consensus events. However, as some users began to exploit the system in ways that did not align with the token's aims, measures to prevent such misuse were somewhat limited.

Challenges with DESK

Users began transferring large amounts of DESK to collector wallets on the blockchain. Despite the explicit prohibition of DESK trading in the terms of service, a secondary market emerged where the token was traded, assigning it an unintended value. Consequently, DESK evolved into a tool beyond full control - a potential risk with blockchain and decentralization.

After careful consideration, it was determined that the token, in its current form, was not effectively serving the intended purposes and community. Plans to reintroduce DESK, or a similar concept, in the future have not been ruled out.

DESK holders are appreciated for their participation in this innovative journey. For any inquiries, please reach out to [email protected].

Edited by Jonathan Stoker