Why Polkadot is the Future of DeFi
In the last year, decentralized finance (DeFi) has gone from being a relatively unexplored crypto niche to a bustling industry filled with a diverse array of protocols and tools that offer new services and opportunities to users. As it stands, the vast majority of DeFi applications are built on the Ethereum blockchain, due to its popularity among decentralized application (dApp) developers and significant pre-existing user-base. However, this sudden growth of DeFi on Ethereum has pushed […]
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The upcoming Polkadot DeFi hub raised nearly $1.3 billion from approximately 25,000 contributors in its token ICO. On Thursday morning, Acala, a decentralized finance (DeFi) protocol operating on the Polkadot (DOT) network, announced it had won the first-ever Polkadot parachain auction. Acala raised a total of 32.5 million DOT, worth roughly $1.28 billion, from 24,934 contributors via an initial coin offering (ICO) structured as a crowdloan. As the proceeds are classified as 'crypto debt,' Acala would eventually need to pay back the DOT it had solicited from investors. Users' DOT are....
Decentralized finance isn’t exclusive to one platform or network, and the Polkadot-based MANTRA DAO intends to unite the disparate world of DeFi under one decentralized autonomous roof. Polkadot’s entry into the top ten cryptocurrencies by market cap signified the rise of one of the most serious competitors to Ethereum to date. With that emergence comes […]
DeFi on Ethereum is costly and congested. Can other base layers step up? Polkadot's Reef Finance has raised $3.9 million to try.
As the launch date for parachains nears, a new initiative is constructing a decentralized finance (defi) index token that tracks Polkadot projects aimed at helping investors diversify their holdings through a single instrument. Six Projects Provide Soft Commitments to Join Polkadot Index Network Token The growing interest in Polkadot and its novel parachains has seen the blockchain’s native token become the source of frenzied speculation over the last few months, joining the list of the top ten cryptocurrencies by market capitalization. Now, with approaching parachain launches for....
Polkadot’s DeFi ecosystem is expanding, but will its interoperability prove to be the Ethereum-killer? The Polkadot blockchain platform only launched its mainnet in May, but it is already pushing to become a major competitive force in the sector. In late August, following a DOT token redenomination, Polkadot smashed into the top 10 cryptocurrencies, overtaking established altcoins such as EOS, Litecoin (LTC) and others. Kelvin Koh from Asian crypto fund Spartan Black previously said that Polkadot could rank in the top three blockchains. Elsewhere, Dan Morehead from Pantera Capital....