Polkadot’s 16th Parachain Slot Secured in Crowdloan Round
10 Mai 2022 - 7:19PM
NEWSBTC
On the 6th of May, Polkadot’s most recent auction round came to an
end, generating over $13.8 million and bringing a new platform to
the system. The winner of this auction, Polkadex, put up 973,324
DOTs across over 6000 community member donations, demonstrating the
incredible community push that was behind this win. Polkadot is an
interoperable blockchain ecosystem that offers high levels of
security, user-driven governance, high energy efficiency, and is
readily built for rapid scalability. Part of this scalability comes
through its interoperable parachains, with many different
blockchain systems linking into the central chain. By winning the
most recent parachain slot auction, Polkadex has become the 16th
chain to become embedded into Polkadot. Polkadex is built on
substrate, providing a user-friendly decentralized order-book
exchange where users can participate in high-frequency trading and
other DeFi functions. The COO of Polkadex, Deepansh Singh, comments
on their parachain win, suggesting that “Thanks to the Polkadex
parachain, we will be able to bridge assets with the Dotsama
ecosystem and now users will be able to trade Polkadot ecosystem
tokens from across the whole spectrum of parachians,” signaling the
core interoperability that Polkadot offers. Equally, he continued
by marking this as a monumental event for the ecosystem itself,
“This is a first for Polkadot and a first for DeFi as a whole,”
seeing the potential for the expansion of both Polkadot and
Polkadex with their parachain win. As Polkadex can now interact
with all of the other blockchain assets within this ecosystem, the
versatility of application of their platform has been radically
increased. Campaign Strategy This round of crowdloan saw Polkadex
become the very first parachain auction to surpass it’s 90% target
cap of $1 million USD, making this the largest in Batch 3. Part of
what made this campaign so effective was Polkadex’s rallying within
their own community, providing many benefits to users that decided
to get involved with the funding opportunity. Polkadex created an
auction cap of 1 million DOT tokens, but offered 2 million PDEX
tokens (which is 10% of the total supply). Due to the ratio they
created, there was a 2:1 opportunity, with users being able to get
at least 2 PDEX tokens for every single DOT token that they added
to the campaign effort. Considering the vast utility of PDEX,
allowing users to get discounts on any Polkadex transitions made,
lowering trading fees, providing governance voting, and even
offering staking opportunities, it’s no wonder that the community
flocked to this fantastic crowdloan structure. Alongside token
allocation, Polkadex offered the top 1,000 crowdloan participants
the opportunity to get a utility-based NFT, which provides even
further discounted fees on all of their Polkadex orderbook
transactions once it has launched. These rewards were also
distributed through several DeFi platforms that Polkadex partnered
with during the event. Large-scale exchanges like Kraken and KuCoin
were all involved, being equally balanced by decentralized
platforms like Equilibrium and Parallel Finance, allowing the
community to get involved through whichever financial system they
prefer. Commenting on the fantastic community effort, the head of
marketing at Polkadex, Dagmara Handzlik, stated that they are
“extremely proud of the way the Polkadex community led the charge
during the crowdloan campaign.” Following this, she stated that,
“Polkadex is proof of how important a strong community is to the
overall success of a project, and we could not be more excited to
deliver the products we have been building with the eager support
of Polkadexers.” By winning this campaign and obtaining a parachain
slot, Polkadex is one step closer to becoming the central trading
engine for Web3 and DeFi as a whole, with the Polkadot ecosystem
now set to benefit from this comprehensive, cutting-edge crypto
trading solution.
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