Polkadot unveils $770M development fund ahead of parachain auctions
Polkadot’s Gavin Wood has announced a more than $770 million development fund just weeks before the network’s parachain auctions are set to go live. Polkadot (DOT) founder Gavin Wood has unveiled a $777 million development fund ahead of the network’s parachain lease auctions. Wood tweeted on Oct. 17 that Polkadot’s treasury has allocated more than 18.9 million DOT (worth roughly $777 million at the time of writing) to a development fund that will be disbursed through community governance. Wood gave broad suggestions as to how the funds might be spent, stating the capital will be mobilized....
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DOT price targets new highs and investors expect the ongoing Polkadot parachain auctions to send the price on a trajectory that mirrors Kusama’s 2020 breakout. This week, a number of contenders are set to participate in Polkadot's first parachain auctions and this process tends to place buy pressure on DOT, while also giving aspiring blockchain projects a chance to show why they offer the most competitive solutions to the different demands that exist in the crypto sector.The ongoing Polkadot parachain auctions follow the success of similar auctions on its sister network Kusama, where....
The parachain slot auctions are the next big milestone due on the Polkadot roadmap. So, what can we expect? Polkadot’s parachain auctions will mark the most significant milestone on its roadmap since the mainnet launch in 2020. Currently in the testnet on the Rococo network, the next stage of the launch will involve the rollout of parachains on Polkadot’s crazy cousin, the “canary network” Kusama. The rollout of Polkadot parachains on the main network will follow. What does this mean? The Polkadot mainnet has officially been in live operation for nearly a year now. However, only the....
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....
The first Kusama parachain auction could happen by mid-June if the council votes in favor of a recently released tentative schedule. Polkadot and Kusama creator Gavin Wood has published a tentative schedule for the much-anticipated Kusama parachain slot auctions. According to a blog post posted on Tuesday, the first parachain auction slot will open on June 15 at 12:00 pm Central European Summer Time.The tentative schedule, subject to the approval of the Kusama Council and other KSM stakeholders, will see the maiden parachain auction concluded by June 17, with the bidding period continuing....
Kusama and Polkadot are jointly two of the most successful Blockchain partnerships, judging by the effort both teams have put to drive a massive adoption for the Blockchain. Following the success of the first Parachain auction, Polkadot will commence the next phase of the Parachain auction on Kusama. The auction, which is open to all […]