Polkadot Reportedly Lays Off 300 Employees: What’s The Way Forward?
Parity Technologies, the developer of Polkadot, a platform at the forefront of blockchain interoperability, has reportedly laid off more than 300 employees. According to an X post shared by “chainyoda,” a core contributor, on October 12, the number retrenched is more than that of developers working on dapps deployed on the blockchain. Parity Technology Game Plan: To […]
Related News
The price of Polkadot’s native token hit an all-time high (ATH) this week, soaring above $30, as the company laid out the next steps of its plans and the systems to finalize the network launch. Polkadot Roadmap Outlines Layer 0 Deployment Initiatives Polkadot released a roadmap highlighting that it is currently in its Rococo phase, the first of three major phases until the network goes live. Here is a breakdown of the roadmap. Rococo Testnet Rollout Polkadot (DOT) plans to continue with its launch of parachains, also referred to as application-specific data structures. These....
Facebook’s parent company Meta has announced today that the firm is cutting down 11,000 workers, in what could be the biggest layoff in the US this year. Meta Fires 11,000 Employees, Zuckerberg Describes Change As “Most Difficult” In Company History Last week, reports surfaced that the megacompany Meta is planning to sack a large number […]
Polkadot’s native cryptocurrency DOT was among the biggest gainers in the last 24 hours even as other top altcoin projects reported losses. The DOT/USD exchange rate rose about 9 percent, hitting $4.93 as its intraday high during the European trading session Tuesday. The rally emerged out of nowhere, with no concrete fundamentals backing it as […]
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....
Terraform Labs employees have reportedly been prohibited from exiting South Korea as investigations by prosecutors continue. Terraform Labs employees are reportedly unable to leave South Korea due to the country’s prosecutors imposing a departure ban on key developers of the project.On Monday, Korean media outlet JTBC reported that an investigation team from the Seoul Southern District Prosecutor’s Office imposed a travel ban on key team members of Terraform Labs. The ban was put into place to eliminate the possibility of key officials within the company fleeing abroad to avoid further....