Polkadot unveils $770M development fund ahead of parachain auctions

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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