Recently, the Polkadot testnet Rococo V1 has started to access the parachain testnet, which means that the highly anticipated parachain slot auction is getting closer and closer.
Polkadot is currently unable to run applications, precisely because the parachain function has not yet been launched. Therefore, the parachain slot auction is very important to the Polkadot ecology, and only when the parachain goes online can Polkadot be called a fully functional blockchain.
The Polkadot parachain launch is divided into 6 steps, as follows:
Launch Rococo v1 and wait for its stable operation;
Open the auction on Kusama;
Open the auction on Kusama;
Launch the successful parachain on Kusama;
(After the audit is completed) launch Polkadot's public interest parachain;
Open the auction on Polkadot; launch the parachain that successfully bid on Polkadot.
At present, the Rococo V1 test network has been launched, and the test network has been connected to the protocol one after another. When the functions are complete, it will be first deployed on Kusama and then launched on Polkadot. Kusama is Polkadot's leading network and an independent blockchain with real value. New functions and features that appear on the Polkadot network will be launched on Kusama first, and the same is true for slot auctions.
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Acala
Acala is a comprehensive agreement platform, and its business scope covers stable currency issuance (cross-chain multi-asset mortgage), decentralized exchange, DOT/KSM liquidity release, oracle machine and other businesses.
At present, Acala has been connected to the Rococo V1 test network and is one of the first projects to be connected.
Acala has launched the fifth testnet Mandal TC5 and held the fifth round of testnet incentive activities. This version of the test network implements most of the functions of the Acala network and is compatible with Ethereum. Many Ethereum DAPPs that have not been improved can already be run on the Acala network.
In terms of ecological construction, Ren and AMPL, two well-known projects in the Ethereum ecosystem, have announced their launch on Acala and entered the Polkadot ecosystem through Acala.
According to official information, Acala has completed two rounds of audits. The audit agencies are SR Labs and Slow Mist respectively, and the third round of audits will be officially started by Trail of Bits in January this year.
From the perspective of progress, the development of Acala has been basically completed, and two rounds of audit work have been completed.It can be said that the preparations for the launch of Acala have been quite sufficient.
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Bifrost
Bifrost is a cross-chain network designed to release liquidity for Staking assets, allowing users to obtain good liquidity while obtaining Staking benefits.
Bifrost is the fourth batch of protocols to access the Rococo V1 test network, and it is now ready for access.
Bifrost stated in its year-end announcement released in January that more than 80% of the basic function development of the Bifrost network has been completed.Bifrost completed the testing of the Asgard CC3 testnet in October, realizing the cross-chain exchange function of vEOS, vDOT and vKSM,The Asgard CC4 testnet will launch in late February.
With the launch of ETH 2.0 Staking, Bifrost also launched the ETH 2.0 Staking liquidity solution at the end of November, allowing users to obtain liquidity while obtaining ETH Staking benefits.At the beginning of the launch of the ETH Staking liquidity release business, Bifrost carried out minting incentives, and official information shows that the second round of minting airdrops is about to take place.
Bifrost and Loopring cooperate to carry out Layer2-based liquidity incentives to provide better liquidity for ETH's popular release tokens,first level title
Bandot
Bandot is a cross-chain liquidity aggregation platform that wants to provide convenience to users in liquidity mining, unsecured lending, and stablecoin exchange.
Bandot has launched the Ethereum cross-chain gateway Guru, and Bandot also recently completed a one-month HBTC lockup airdrop.
Currently BandotAlready launched the testnetfirst level title
Chainx
ChainX is a cross-chain network. The main network was launched in May 2019. Currently, ChainX has successfully updated the main network to Substrate 2.0. The main product of ChainX is to provide X-BTC, a cross-chain BTC. Currently, X-BTC has been integrated by Acala.
ChainX is the fifth batch of protocols to access the Rococo V1 test network and is currently waiting for access
The current focus of ChainX is to upgrade its cross-chain solution. The previous cross-chain solution of ChainX was realized through the side chain relay and validator mechanism, and the validator realized the custody of BTC native assets.
The ChainX 2.0 scheme adds a custodian mechanism. The custodian is assumed by the user/node who mortgaged the assets to realize the decentralized storage of assets. The essence is to introduce a secured third party to keep the assets.
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Darwinia
Darwinia is a cross-chain network. It launched the mainnet launch process in September. Similar to Polkadot, it is launched in stages. At present, it has realized the "Ethereum-Darwin" one-way cross-chain bridge, which is the launch of its mainnet. second stage. In the next stage, the "Ethereum-Darwin" two-way cross-chain bridge will be launched.
Darwinia is the third batch of protocols to access the Rococo V1 test network and is currently waiting for access.
Darwinia recently released the Darwin smart contract solutionfirst level title
Equilibrium
Equilibrium is a money market protocol that covers stablecoin issuance and lending. Equilibrium was originally based on EOS, and the product line continues to operate. In September this year, it announced that it had become a partner with Polkadot. Equilibrium has received funding from the Web3 Foundation.
According to official information on October 30, Equilibrium is cooperating with Quantstamp to audit its core components.
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Interlay
The main product of Interlay is PolkaBTC, the anchor currency of Bitcoin without trust.The test network has been launched.
Interlay is the second batch of protocols to access the Rococo V1 testnet.
The main model of Interlay is similar to the Chainx 2.0 model introduced above. The custodian provides pledged assets to obtain the qualification to keep the original BTC. This is a relatively decentralized custody model, which can better solve the custody problem of BTC in the cross-chain .
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Moonbeam Network
Moonbeam Network, an Ethereum-compatible smart contract platform, launched its testnet earlier this year and received funding from the Web3 Foundation in August.
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PolkaSwap
PolkaSwap is a cross-chain transaction protocol based on the SORA network, and SORA will become a parallel chain of Polkadot.According to the latest news, SORA has been accepted into the Rococo V1 test network.
At present, PolkaSwap has launched the test network,first level title
Polkastarter
Polkastarter is a token distribution platform specially built for cross-chain token pools and auctions, allowing decentralized projects to raise and trade funds in a low-cost and fast manner, and provides cross-chain, priced block transactions and dynamic price auctions wait.
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Reef Finance
Reef Finance is a cross-chain DeFi operating system built on Polkadot. It aims to provide users with an intelligent liquidity aggregator and income aggregator through a seamless user interface, so that traders can obtain liquidity from CEX and DEX for trading.
The characteristic of Reef is that it has reached cooperation with many agreements. Currentlyfirst level title
Stafi
Stafi is a decentralized protocol dedicated to solving the liquidity of mortgage assets. The goal is to allow users to enjoy the benefits brought by Staking and obtain the liquidity of mortgage assets.
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Zenlink
Zenlink is a Polkadot-based cross-chain DEX protocol that allows users to securely exchange any asset between different parallel chains.
Zenlink is the fourth batch of protocols to access the Rococo V1 test network and is currently waiting for access.
Zenlink DEX version 0.1 completed internal testing in early November, and open-sourced the DEX smart contract in mid-December.The open source of smart contracts is also the second Grant delivery of the Web3 Foundation completed.
The above is the current progress of the main projects of the Polkadot DeFi ecosystem. I hope this article can give readers an overall understanding of the progress of the Polkadot DeFi ecosystem.
It should be reminded that some of the above-mentioned projects have established cooperative relations with many projects. Although the products are in the early stage and the above introduction is quite simple, many projects have shown considerable potential and deserve continuous attention.
You can also read:
1. "How to quickly understand the fiery Polkadot?" This Getting Started Guide is Worth Bookmarking »
2. "Overview of Polkadot's 9 Popular DeFi, Who Has More Potential?" Who could be the pit? "
Disclaimer: This article is the author's independent opinion, does not represent the position of the Blockchain Institute, and does not constitute any investment opinion or suggestion.
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