Editor's Note: This article comes fromHoneycomb Finance News (ID: fengchao-caijing), Author: JX kin, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Honeycomb Finance News (ID: fengchao-caijing)
Honeycomb Finance News (ID: fengchao-caijing)
, Author: JX kin, reproduced by Odaily with authorization.
On July 24, Polkadot started the third round of public offering with 300,000 DOT. In less than 3 days, the public offering ended, and 3,791 BTC were received in the fundraising address, equivalent to a contract of 40.7 million US dollars.
The opening of the third round of public offering has further increased the exposure of DOT. On July 27, DOT temporarily reported at $164, an increase of 3.4% in the past 7 days. This increase is temporarily unable to match the market leader ETH.
Polkadot, which was born to make up for the lack of performance of Ethereum, has often been compared with Ethereum since its establishment in 2015. On the one hand, it is based on the fact that Gavin Wood, the founder of Polkadot, was a core figure in the construction of Ethereum, and on the other hand, it is also because the project was born only one year later than Ethereum.
Today, Ethereum has entered the 2.0 version stage, firmly occupying a dominant position in the field of DeFi applications; Polkadot, whose technology is complex, is fully preparing for the main network. It is worth noting that its ecological development is not weak.
In August, a dramatic scene may emerge. At that time, Polkadot will complete the on-chain transfer function, and the Ethereum 2.0 version will also make significant progress. So, can the back wave subvert the front wave?
3 days to raise 40 million US dollars
"Follow me, and you will all become millionaires by the end of the year." During the third round of fundraising, overseas netizens on Twitter shouted for Polkadot as well as KOLs in the domestic currency circle.
On July 24th, Beijing time, Polkadot’s official website officially opened the third round of public offering channels, and investors can use Bitcoin to participate in the purchase. This time, the number of DOTs used for public offering is 300,000, and the selling price for the first 100 hours is 125 US dollars, and then the unit price becomes 150 US dollars, while stocks last.
On the afternoon of July 27th, Beijing time, Polkadot completed the third round of public offering. In less than 3 days, the fundraising address received 3791 BTC. According to the current price of BTC at US$10,260, the total amount of funds raised this time is equivalent to approximately US$40.7 million.
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Polkadot’s third round of fundraising has raised $40 million
This is Polkadot's third public fundraising.
After the project was established in 2015, Polkadot made its first public offering to investors in October 2017, and sold 50% of the total circulation of 10 million DOT at a unit price of $35.
The 5 million DOT took 7 days to raise 480,000 ETH for Polkadot, which was equivalent to 144 million US dollars at the time. In the first round of public offering, well-known venture capital institutions such as Pantera Capital and Polychain Capital are listed.
After completing the first round of fundraising, Polkadot officially plans that of the remaining 5 million DOT, 3 million DOT will be allocated to the project foundation Web3, and the foundation can decide to keep or sell it at its own discretion; the other 2 million DOT will be used for the Polkadot mainnet launch previous fundraising.
In January last year, Polkadot launched the second round of public offering. At that time, the Wall Street Journal reported that the project was valued at US$1.2 billion during the second round of fundraising, and it was expected to raise US$60 million. If the total amount of DOT issued is 10 million, the unit price of DOT used for fundraising in the second round is about 120 US dollars, and the number of distribution is 500,000.
The primary market is booming, and the secondary market is not to be outdone. In May last year, four months after Polkadot completed its second round of fundraising in a low-key manner, some exchanges launched DOT trading pairs, and its price once reached $270.
It is worth noting that the Polkadot official has reminded that the DOT on the exchange is not an officially issued DOT currency, and the DOT generated based on the main network of the project is expected to be generated in mid-2020. Therefore, this official reminder "accidentally" revealed the key signal that the Polkadot mainnet will be launched in the middle of the year.
In July this year, as the progress of the Polkadot mainnet became clearer, both Huobi and OKEx launched DOT trading pairs. Binance, another of HBO's top three platforms, attracted DOT holders by supporting mapping on July 24.
The entry of leading platforms more directly reflects the market enthusiasm of Polkadot. 1. The secondary market is in full bloom. Can Polkadot bear the weight of market expectations? The launch of the mainnet and subsequent ecological landing is the ultimate test of the project.
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Two steps away from the full implementation of the main network
Similar to the previously planned time, at the end of May this year, Polkadot began to deploy the main network. According to the official "progress bar", Polkadot's mainnet will go through at least five major stages before it goes live.
On May 26, the Polkadot main network candidate network CC1 was launched, which represented the official generation of the first version of the main network. At this stage, the main network runs with the PoA (Proof-of-Authority) consensus algorithm, and the Web3 Foundation authorizes 6 nodes to run the network through keys and enable more functions.
On June 18, Polkadot announced that the main network officially entered the second phase with the NPoS (Nominated Proof of Stake) consensus algorithm. During this phase, the Web3 Foundation increased the number of network validators, ranging from 20 to 100.
DOT's main network currency is also officially generated in the second phase. Therefore, there are exchanges like Binance that support the mapping of mainnet coins after the second phase.
On July 21, Polkadot’s official Twitter released another message that the first phase of the CC1 candidate mainnet has been upgraded, enabling full governance functions, and the key module used by the Web 3 Foundation has been deleted. This means that Polkadot's node governance rights will be handed over to external stakeholders, no longer needing foundation permission, and becoming more decentralized.
Today, Polkadot, which has gradually realized decentralization, will be the next stage of "allowing balance transfers". This stage is expected to start in mid-August.
After the on-chain transfer is realized, Polkadot will enable the auction function of the governance side chain, and the project as a key link of star cross-chain - the implementation of the cross-chain message passing XCMP (Cross-chain Message Passing) solution.
Once this link is completed, it marks that Polkadot will have a fully functional relay chain - it is like the central control system of the Polkadot network, responsible for maintaining the consensus of each parallel chain, making a decision to confirm the finality of each block and the integrity of the entire large network. governance. Guo Guanghua, the project eco-party and co-founder of ChainX, compared the relay chain to Polkadot's "government hall".
As a much-anticipated star cross-chain project, when Polkadot is building and deploying the main network, the Foundation began to support the ecological party simultaneously. According to the official data, more than 200 applications based on the Polkadot main network have covered multiple functions and sectors such as wallets, smart contract platforms, virtual machines, exchanges, and IoT chains.
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There are currently about 200 applications in the Polkadot ecosystem
Some of these applications are beyond the conceptual stage. It is reported that the data management network "Ocean Protocol", the identity management chain "Speckle OS", the fast payment application "Blink Network", the Internet of Things chain "MXC Protocol" and the DeFi application "Chainlink" have all been running in the Polkadot ecosystem.
These actions, together with the third round of public offering, have driven the market's expectations for Polkadot. According to Feixiaohao, as of 5:00 pm on July 27, DOT was temporarily quoted at US$164, an increase of 3.4% in the past 7 days, which was 30% higher than the third round of public offering price of US$125.
