Polimec, a decentralized and community-driven funding protocol designed to transform how Web3 projects raise capital and issue tokens, has officially launched on Polkadot. Polimec offers a transparent, regulatory-compliant environment that connects investors and startups on a global scale. Community-Driven Web3 Fundraising According to a statement shared with CryptoPotato, Polimec represents a significant advancement in Web3...Read More
For the first time in history, a cryptocurrency firm has used blockchain technology to select an athlete for a brand ambassador sponsorship deal. According to a press release sent to CryptoPotato, the Polkadot community just passed a vote to sponsor IndyCar racing star Conor Daly as Polkadot brand ambassador for the upcoming Indianapolis 500, an...Read More
Polkadot appears to be bustling with activity, which is evident from the record-breaking number of active addresses on the blockchain and other metrics that depicted a bullish case. According to the latest stats by ‘Parity Data,’ Polkadot accumulated over 605,200 active addresses. Nearly half of them, around 248,000 out of 605,000, are associated with Moonbeam,...Read More
Investment products in digital assets witnessed a significant weekly outflow of $942 million, breaking the continuous seven-week streak of inflows reaching $12.3 billion. According to the CoinShares, this shift can be attributed to investor hesitation. Hesitant Investors Cause US ETF Inflows Dip The latest edition of Digital Asset Fund Flows Weekly Report revealed that the...Read More
Investments in digital asset products clocked in a massive surge in weekly inflows, reaching a total of $2.9 billion. According to the latest data compiled by CoinShares, the inflows surpassed the previous week’s record of $2.7 billion, propelling year-to-date investments to $13.2 billion, significantly exceeding the total inflows for the entire year of 2021, which...Read More
Circle, a stablecoin issuer, has introduced the USDC stablecoin into the Polkadot ecosystem of parachains. This move signifies a significant extension of the accessibility of this dollar-backed stablecoin across different blockchain networks. As detailed on Circle’s official website, developers and users can now readily access Polkadot USDC. That means the stablecoin can be seamlessly transmitted...Read More
Electric Capital’s mid-year crypto industry developer report revealed that there are 21,300 monthly active open-source developers as of June 1, 2023. However, that figure has decreased by 22% year-on-year since June 2022. Those that left the space recently were newcomers who had worked in crypto for less than a year, it noted. Furthermore, they were...Read More
Polkadot announced that Deloitte Switzerland is integrating the former’s parachain KILT blockchain technology for issuing reusable digital credentials to support KYC and KYB processes. With this move, Deloitte has become the latest major enterprise partner to come to the Polkadot ecosystem. The digital credentials in question will have extensive use cases such as regulatory compliance...Read More
Sony Network Communications (a tech provider under the umbrella of the Sony Group) partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program. Users willing to join can apply until March 6, 2023. Focusing on NFTs and DAOs According to a document seen by CryptoPotato, the program will run from...Read More
Shared liquidity protocol dPRIME Asset Modules Finance (DAM Finance) has launched its mainnet, enabling users to “teleport” their liquidity across several blockchain networks. According to a press release, the decentralized, multichain liquidity infrastructure layer is currently live on Ethereum and Moonbeam. DAM Finance Unveils Multichain Liquidity Layer DAM’s global shared infrastructure offering would allow users...Read More
Japan’s largest conglomerate – Toyota Motor Corporation – will sponsor the world’s first global Web3 hackathon. Polkadot’s leading parachain, Astar Network, has been roped in to make Web3 use cases for Toyota’s employees. According to the official press release shared with CryptoPotato, the car giant is looking to embrace the Web3 space in a bid...Read More
Back in 2017, the SEC released Report 21A, better known as the DAO Report. In it, the agency laid out the reasons why the tokens of most DAOs, Polkadot included, should be considered securities. The paper, however, stated that there were steps development teams could take in order to make their projects not function as...Read More
The crypto industry appears to be slowly recovering from the catastrophic collapse of the FTX crypto exchange, marking one of the worst years in the sector’s history. However, several blockchain networks are making strides in the terms of development activity. According to the latest data from the crypto-analytic firm Santiment, Polkadot (DOT) and Kusama (KSM)...Read More
Astar Network – a smart contract innovation hub that connects the Polkadot ecosystem to all Layer 1 blockchains – launched its Cross-Virtual Machine (XVM) on the public testnet Shibuya. It enables projects building on Astar to interact with other smart contract ecosystems, including the WebAssembly (WASM) and Ethereum Virtual Machine (EVM). Enter the XVM According...Read More
Gavin Wood – creator of Polkadot and co-founder of Ethereum – has exited his leadership position from the network’s major infrastructure provider, Parity Technologies. However, he will still remain closely involved with the company. Though he will no longer be CEO, Wood will remain Parity’s majority shareholder, and will transition into a new role as...Read More
Latest data also suggest that nearly 14,930 developer contributions were recorded on Polkadot’s GitHub for August, establishing a new monthly ATH by a wide margin. Polkadot surpassed the margin yet again but for the first time in September, concluding the month with 15,433 contributions, the highest recorded on any network, including Ethereum. New Records For...Read More
Tether, the operator of the third-largest cryptocurrency with a market cap of almost $70 billion, announced the USDT launch on Polkadot. Thus, the stablecoin is now available on roughly a dozen blockchain networks. The announcement from the company described Polkadot as a “full-stack Web 3 ecosystem built for the multi-chain future.” Adding that it has...Read More
Acala – one of the first Polkadot parachains – recently rolled out a yield-bearing liquidity pool for aUSD and a form of wrapped bitcoin, which contained a bug that was soon exploited by the hackers resulting in 1.2 billion aUSD being minted without collateral. This week, the protocol launched a report detailing the exploit along...Read More
Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The exploit allowed the hacker to mint more than 1.2 billion aUSD, the project’s stablecoin. Shortly after the hack, the Acala team updated users on Twitter, noting that the exploit originated from a “misconfiguration of the iBTC/aUSD...Read More
Polkadot’s innovation hub Astar Network has partnered with DeFi network Acala to boost decentralized finance (DeFi) by unlocking new opportunities and rewards for developers in the Polkadot ecosystem. The two entities have joined forces to launch a new DeFi program dubbed “Astar x Acala DeFi Rising.” The DeFi Rising Program According to a press release...Read More
Blockchain company Alchemy and innovation hub Astar Network will collaboratively power developer tooling on Polkadot. As such, the two entities have partnered to accelerate web3 development on Polkadot. As per the press release shared with CryptoPotato, the move essentially aims to simplify the process for developers to create decentralized applications on Polkadot’s leading parachain –...Read More
Blockchain analytics platform Messari has published a detailed report on Polkadot’s performance in Q2, 2022, analyzing different aspects of the protocol, including market valuation, network usage, developer activity, parachains, and ecosystem challenges. Polkadot’s Valuation Dropped 66% in Q2 The paper, dubbed the “State of Polkadot,” revealed that the blockchain project’s native crypto asset shredded about...Read More
Revolut, a global financial app, has joined a growing list of companies advancing cryptocurrency education through the “Learn and Earn” initiative. The concept rewards users with crypto for learning about essential topics in the blockchain industry. Revolut Partners Polkadot to Launch “Learn and Earn” In a press release shared with CryptoPotato, Revolut, valued at $33...Read More
Parity Technologies – the engineering firm behind the initial implementation of Polkadot – has rounded out its leadership team with the addition of three new hires. These include Eran Barak as COO, Fahmi Syed as CFO, and Peter Ruchatz as CMO. As Chief Operating Officer, Eran Barak will be responsible for overseeing people and operations,...Read More
Polkadot creator Gavin Wood unveiled the next generation of governance for the DOT ecosystem – Gov2. Only after the v2 is tested on Kusama, a proposal will be made for the Polkadot network to vote on. New Polkadot Governance v2 According to the press release shared with CryptoPotato, the new governance system does not intend...Read More
Since the 21st of November 2021, the team at Polkadot has conducted regular DOT-based auctions for one of the coveted slots in their parachain network. There are plans for 100 parachain slots, give or take. Auctions for the first 41 have already been planned, with one happening roughly every ten days. The 16th auction started...Read More
KILT announces the launch of web3name, an application for creating a custom name to represent users’ digital identity. The new approach would increase the transparency of users’ identities without sacrificing the privacy involved with personal data. KILT, a blockchain identity protocol based on the Polkadot network, issues a new form of digital credentials, Web3name(w3n), for...Read More
Tether Operations Limited, the operator of Tether.io, has announced the launch of USDT on Polkadot’s canary network – Kusama. The company said the move will enable developers to compose trustless applications across chains, communities, and networks. Tether on Kusama According to the press release shared with CryptoPotato, USDT will be deemed with the asset ID...Read More
Acala, the Ethereum-compatible DeFi protocol has announced teaming up with Anchor to boost the decentralized stablecoin space of Terra and Polkadot ecosystems. Following Wormhole integration plans, the two parties are all set to bring increased liquidity and yield opportunities for aUSD and UST by serving as gateways into the decentralized finance ecosystems of Polkadot and...Read More
PayMaya – one of the leading digital financial services platforms in the Philippines – rolled out a cryptocurrency feature on its app, allowing customers to deal with bitcoin and altcoins. The initiative aims to educate locals about the merits of the asset class and grant them access to it. PayMaya Enters the World of Crypto...Read More
