DFG piles $12.6M into Astar Network’s Polkadot parachain bid

DFG piles $12.6M into Astar Network’s Polkadot parachain bid

Astar Network currently ranks third place in Polkadot’s first parachain auction behind Acala and Moonbeam. The first-ever parachain auction on Polkadot is heating up, with leading projects from the Polkadot ecosystem competing for the coveted first slot.On Nov. 15, DFG Group — a global blockchain investment firm controlling $1 billion in assets under management — announced it had pledged 300,000 DOT tokens (worth $12.65 million) in support of Astar Network’s parachain bid.Polkadot will use parachain auctions to realize its sharded proof-of-stake ecosystem. In order to secure a parachain or....


Related News

Multichain DApp protocol Astar raises $22M in latest round led by Polychain

Funds will be used for hiring industry-leading engineers to implement both EVM and WASM and to invest and nurture Astar native ecosystem projects. Astar, a multichain DApp protocol, formerly known as Plasm, has raised $22 million in its latest strategic fundraise.The funding round was led by Polychain and saw participation from the likes of Alameda Research, Crypto.com Capital, Digital Finance Group and a few other angel investors. Astar rose to popularity after gaining the Polkadot parachain slot last December and the protocol was officially launched on Jan. 17th.Astar is currently....

DIA is the First Oracle to Integrate with Astar Network

DIA is the first oracle provider to integrate its oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. The oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data. The open-source data provider DIA announced today the integration of its decentralized oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. This oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data via DIA’s trusted oracles. Astar Network, previously known as Plasm, is a....

Finance Redefined: Acala wins Polkadot parachain, and Iota set to launch Shim...

Acala was victorious in Polkadot’s first parachain auction, Iota announced its staking network, and Uniswap liquidity providers lose money — all coming to you in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.Read on to discover why almost half of the liquidity providers on Uniswap v3 are losing capital due to impermanent loss.What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week, subscribe below.Acala wins Polkadot’s debut parachain....

Shiden secures third parachain slot on Kusama

The canary project of Polkadot-based multi-chain DApp hub Astar Network has won Kusama’s third parachain auction. Shiden, the sister-project of leading Polkadot-native layer-two decentralized app hub, Astar Network (formerly Plasm Network), has won the third parachain auction for Polkadot’s experimental sister-network, Kusama.Shiden secured the slot with a total of 137,020 KSM tokens bonded — worth nearly $29 million at current prices.Shiden is a smart contract platform for Kusama-based DApps, offering multi-chain support for Ethereum Virtual Machine and WebAssembly-based contracts. The....

Altcoin Roundup: Interoperability push puts attention back on Polkadot

ASTR, ACA and SAITO went on a month-long rally shortly after the Polkadot ecosystem intensified its move toward DeFi and EVM compatibility. The Polkadot ecosystem sorely underperformed compared to other layer-1 networks in 2021, while the slow roll-out of parachain auctions and mainnet launches left the network playing catch-up in 2021.It appears that this trend came to an end in mid-March when numerous projects in the Polkadot ecosystem saw their prices climb higher after users began to engage with networks that expanded their offerings and made a push toward Ethereum Virtual Machine....