Editor's Note: This article comes fromBlock beats BlockBeats (ID: BlockBeats), Author: 0x66, reprinted by Odaily with authorization.
Editor's Note: This article comes from
Block beats BlockBeats (ID: BlockBeats)
, Author: 0x66, reprinted by Odaily with authorization.
For star projects like Polkadot, there is no need to worry about having no surplus in winter.
On July 25, Polkadot, a star public chain project, opened a new round of financing on its official website. According to the information provided by participants, the official will open 300,000 DOTs this time, and the unit price for the first 100 hours is set at $125. The price was subsequently adjusted to $150. According to this information, Polkadot plans to raise US$37.5-45 million this time.
As of July 27, Polkadot's official address has raised nearly 3,492 BTC, which is nearly $36 million at today's Bitcoin price. At this rate, financing within the first 100 hours may not be a problem.
Source of screenshot: Okey Cloud Chain
This is actually Polkadot’s third public financing. As early as October 2017, Polkadot sold 5 million DOT tokens at a price of about 1DOT=0.109ETH=35 US dollars through the Dutch auction method; in June 2019, Polkadot officially conducted the second round of financing , sold 500,000 DOTs at a price of around $120, with a post-money valuation of $1.2 billion. If the financing is successfully completed, it means that Polkadot’s total financing will exceed 250 million US dollars.
It is no exaggeration to say that under the leadership of Gavin Wood, who has many auras such as Ethereum, Parity, and Web3, Polkadot, which aims to interconnect all chains, is a star public chain that has attracted much attention since its birth. However, since the beginning of this year, the public chain that has been delayed several times is no longer the best story. Polkadot is about to enter the fifth stage of the mainnet launch. Next, will Polkadot spark a new public chain debate?
We chatted with several investors who participated in Polkadot’s first two financings. What do they think of this project that has been in preparation for three years? Even though many people are discouraged from its third financing, why is Polkadot still considered one of the "most anticipated" projects in the second half of 2020?
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Still the most anticipated public chain in the second half of the year
After three years of preparation, Polkadot is just a step away from the full opening of the mainnet.
On July 21, the referendum on the proposal of "removing the Sudo permission module" initiated by the Polkadot Council was passed, and then the first referendum on the activation of transfers was opened. If the vote is passed two weeks later, Polkadot will soon enter the mainnet line The final stage before: the fifth stage. In fact, from the perspective of progress, this time has been delayed compared with the report released by Hash CIB at the beginning of the year, which is expected to launch a complete main network plan by the end of July.
Polkadot, which has repeatedly bounced tickets, has indeed worn out the patience of many people: Polkadot initially postponed the plan to launch in the third quarter of 2019 to the end of 2019, and then to mid-January 2020 (before the Chinese New Year), Then it was February, March, and then July. Fortunately, as the official transfer is about to start, it means that the opening of the mainnet is very close.
Xu Zhang, an investor who participated in Polkadot’s second round of financing, said that although Polkadot’s price this time is not too high, it is still a wait-and-see approach. Compared with buying, there is no advantage, and it has to be locked for 5 months.”
Data source: btc.com
While the investors we spoke to were less bullish, that doesn't appear to be the case. As of July 27th, Polkadot has completed nearly 36 million US dollars in this public offering, and there is a high probability that the financing will be completed within 100 hours.
According to the statistics of Rhythm BlockBeats, if the participation in the public offering in batches is not considered, the participation of users who invested more than 100 BTC (worth more than 1 million US dollars) accounted for 46%, of which the largest investment amount was nearly 700 BTC, while 34% of users with a participation amount of 9-99 BTC (worth about US$10,000-US$1 million) participated in the investment
Data source: btc.com
In other words, although the outside world has a more wait-and-see attitude towards Polkadot, when it comes to the public offering, many people will still be unwilling to miss it under the influence of FOMO.
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Image credit: PolkaProject
Prosperous Polkadot Ecosystem
According to the statistics of the PolkaProject website, the Polkadot ecosystem has gathered more than a hundred applications/subjects, covering cryptocurrency wallets, verifiers, forums, browsers, and various projects based on Substrate, such as privacy, bridging, DeFi, smart Items such as contracts and data classes. Based on the information provided by several Polkadot ecological observers, we sorted out some leading projects in different sectors.
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Image credit: PolkaProject
Asset cross-chain hub - ChainX
ChainX, launched on May 25, 2019, is Polkadot's first ecological project to launch its mainnet in the world. Because of the limited functions of a single chain, ChainX plays a cross-chain role between different chains. It is also committed to connecting Polkadot, Bitcoin, and the Filecoin community to form a network resonance.
Currently, the ChainX project is working on building the Bitcoin DeFi ecosystem and selecting high-quality assets for cross-chain; at the same time, it is also providing Polkadot with smart contracts and X-BTC, and is also bridging another star project, Filecoin.
Polkadot "testing ground" - Kusama
The Kusama (Canary Network), which was launched in 2019, is positioned as an "early, unaudited, and completely experimental" network, which is equivalent to the testing ground before the Polkadot mainnet goes online. The main body, including the project party, can Build a real network environment based on this network, and migrate it after Polkadot goes online, saving a lot of testing time for building Polkadot ecology.
For example, the "DOT circulation increased to 100 times" proposal that caused heated discussions some time ago was carried out on the Kusama network at the earliest. Although the result was not officially adopted, it did carry out a successful "rehearsal" for the subsequent official opening of the DOT denomination modification proposal ".
In fact, Kusama is not a simple test network. Its tokens have prices. Since network upgrades and changes are determined and executed through on-chain governance, it is now a decentralized network. As of now, Kusama has more than 300 validators and many nominators participating in the entire network operation. According to the plan, even after Polkadot goes online, Kusama will exist in parallel with Polkadot.
Smart Contracts - Edgeware
Edgeware is a smart contract platform and a parachain of Polkadot. It has the scalability and security of Polkadot. It is very friendly to developers. The team distributes 90% of the tokens to the community, and users can discuss on the platform. Initiate proposals, votes, etc.
In the early days, Edgeware pioneered a "Lockdrop" method to complete the cold start. However, due to technical problems, the Edgeware mainnet was postponed twice, and finally went live in February this year. In March of this year, the development team Commonwealth Labs announced that it had received $500,000 in financing from Framework Ventures, a venture capital institution, to continue to advance project and product development.
Cross-chain Finance——Acala Network
Acala Network, a project co-founded by Lamunar, a decentralized open financial protocol company, and PolkaWallet, has received investment from institutions such as Polychain, Hashkey, and KR1, and received funding from the Web3 Foundation in the first quarter of this year. It is committed to building a cross-chain The open financial application system is to be the financial hub of the Polkadot ecosystem.
It is understood that, in addition to the stable currency Honzon protocol and the liquidity Homa protocol, Acala is constantly expanding the upper-layer applications based on this network. Up to now, the Acala test network has been updated and iterated in multiple versions, which can support mobile and PC in different ways. interaction.
Game cross-chain - Darwinia (Darwin)
Darwinia Network (Darwinia Network) is a cross-chain bridging network developed based on Substrate, focusing on building future asset interconnection networks, including non-standard asset auction markets, stable currency cross-chain, asset exchange and other fields. As a game parachain in the Polkadot ecosystem, Darwinia may also become a secondary relay chain after the ecosystem matures.
Through this network, DApp developers can easily carry out cross-chain interaction of game assets and game operations. On July 20 this year, the Darwinia network started cross-chain transfers and completed the first phase of the Genesis cross-chain transfer (Genesis mapping). The cross-chain transfers at this stage will be sent to designated accounts through the Genesis Block after the Darwinia mainnet goes live.
Privacy Computing - Phala Network
Phala Network is a privacy computing parachain on Polkadot, dedicated to providing the entire Polkadot ecosystem with the ability to process confidential and private data. Based on a PoW-like economic incentive model, it releases the privacy computing power of countless CPUs to be used in the Polkadot parallel chain, and then serves other applications such as Defi and data services on Polkadot.
Among them, two products of Phala, pLibra and Web3 Analytics, have been supported by the W3F Foundation. At present, two versions of Phala's test network have been launched, and it is expected to launch the main network at the end of Q3.
Cross-chain mobile wallet - PolkaWallet
As the first officially supported cross-chain mobile wallet in the Polkadot ecosystem, PolkaWallet is positioned to provide users with one-stop cross-chain asset management services. The main functions of this wallet include cross-chain asset management, intuitive data channels, and more convenient Participate in community governance, inter-chain communication and implement more DApps.
Cryptocurrency Wallet - Math Wallet
MathWallet has been actively supporting Polkadot ecological projects, completed the support for Polkadot ecological parachains such as Kusama, ChainX and Plasm, designed and developed the first mobile DOT staking tool, and developed a one-click mapping DOT tool, which has helped many The user completes the collection of the Polkadot mainnet pass.
Currently, MathWallet is developing Polkadot governance voting tools on the mobile side, hoping to use these tools to lower the threshold for Polkadot users to participate in governance, increase participation, and help the Polkadot ecosystem to develop better.
Web3 browser - Subscan
Subscan is a high-precision Web3 browser that aggregates the Substrate ecological network. It can provide a convenient and easy-to-use query experience and convenient tools for the chain developed based on the Substrate framework. Currently, Subscan is working to improve the adaptation efficiency of the new network and enhance the personalized network. adaptability.
Decentralized Finance Protocol - Stafi
Stafi Protocol is a decentralized protocol built with Substrate. It takes the liquidity of Staking assets as the entry point and focuses on solving the value circulation barriers of currently locked assets on the chain.
After receiving funding from the Web3 Foundation at the end of 2019, Stafi has just completed a $600,000 seed round of financing, with investors including Focus Labs, Spark Digital Capital, and BitMax incubator B-Tech. On July 1st, Stafi released the first testnet Seiya.
Providing Liquidity for Staking - Bifrost
Bifrost is a parachain specially designed to provide liquidity for Staking. It uses a bridge to connect to multiple PoS main chains. Cross-chain Stake assets have the advantages of no lock-up, automatic compound interest, and Stake agents. Users will Assets such as EOS, DOT, and KSM are mapped into the Bifrost parachain, and corresponding mapped assets (vEOS, vDOT, vKSM, etc.) can be obtained.
In other words, users only need to hold the mapped assets to obtain the corresponding Stake income according to the holding amount. At the same time, the mapped assets can also be used for trading or exchanged back to DOT. Currently, Bifrost has released the second version of the testnet Bifrost Asgard CC2.
Scalable DApp Platform - Plasm
Plasm Network is a scalable DApp platform based on Substrate. In the future, it can be used as a parachain of Polkadot to interoperate with Ethereum and other independent chains. Through Plasm, developers can build various DApp applications without having to consider the possibility of Scalability issues.
In the first half of this year, Plasm received two grants from the Web3 Foundation, and the mainnet was launched in May.
Incentive Layer Protocol for Decentralized Storage——Crust
Crust (distributed cloud) is an incentive layer protocol for decentralized storage. It can adapt to various storage layer protocols including IPFS and provide support for the application layer. It is the first incentive decentralized cloud in the Polkadot ecosystem. The application-type public chain of services exists.
From a functional and technical point of view, Crust's positioning in the Web3 protocol stack belongs to "Data Distribution Protocols". In March this year, the Crust development test network Rocky was launched. Currently, the team is developing the second phase of the public test network Maxwell, which is expected to be launched by the end of July.
At the same time, a Crust Cloud application is developed in parallel with the testnet. Users can experience file access on the Crust Cloud. It is expected to be launched in early August this year.
Of course, in addition to the above-mentioned projects, including Chainlink, known as the leading oracle machine, projects such as Kilts Protocol and Celer Network have also joined the Polkadot ecosystem.
