MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

Polkadot’s Parachain Auctions Filling up With Astar Network Winning Third Slot

December 3, 2021
in Blockchain
Reading Time: 2 mins read
A A
Polkadot’s Parachain Auctions Filling up With Astar Network Winning Third Slot
ShareShareShareShareShare

In what is best described as a precedented move, the Astar Network has won the third parachain auction slot on the Polkadot Network.

With the total number of positions filling up so fast, the capabilities of the Polkadot blockchain are now being stretched, just as it is designed to operate.

Riding on the prior successes of Acala and the Moonbeam networks, Astar Network raised a total of 10,333,552 DOT coins worth approximately $372.9 million to secure the third slot from more than 27,000 contributions. Astar Network will now be joining the limited number of protocols that would be launching with the parachain network later this December. 

Astar Network is formerly known as Plasm Network, and it represents a unique technological offshoot built on the Polkadot network. It is essentially a Substrate Runtime Module Library that allows developers to add Plasma functions to their Substrate chain. By adding an Astar (previously Plasm) Substrate Runtime Module Library, developers can get scalable blockchains within a few minutes. The tailored capabilities of these blockchains now reside with the respective developers to fathom.

Astar Network saw a massive backing in its bid toward the Polkadot auction. While the protocol and the work it is fronting is being acknowledged by Venture Capital firms and angel investors like Binance Labs, PAKA Ventures, and OKEx amongst others, Digital Finance Group allocated 300,000 DOT tokens worth approximately $12.8 million tokens to support the auction bid of the Astar Network back in November. 

Just like other previous winners, Astar Network will be rewarding its backers with its native tokens as the participant’s DOT tokens get locked for the duration in which the auction slot will be opened. There are bound to be two more contenders to make up the predefined 5 slots for the parachains. While the competitions continue to hit up, Clover Finance and Parallel Finance are still amongst the favorites to win the next slots, if the tides do not change in the coming days.

Image source: Shuttstock

Credit: Source link

ShareSendTweetPinShare
Previous Post

Indian Government Affirms to Regulate Digital Currencies instead of Banning

Next Post

Defiance ETFs’ NFT-Linked ETF Soon to Launch in the U.S.

Next Post
Defiance ETFs’ NFT-Linked ETF Soon to Launch in the U.S.

Defiance ETFs' NFT-Linked ETF Soon to Launch in the U.S.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

Tech Support Scams Find New Victims In Federal Workers

Tech Support Scams Find New Victims In Federal Workers

January 26, 2023
US Government Seizes Nearly $700,000,000 Worth of Sam Bankman-Fried’s Assets As Fraud Investigation Intensifies

US Government Seizes Nearly $700,000,000 Worth of Sam Bankman-Fried’s Assets As Fraud Investigation Intensifies

January 22, 2023
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

Stablecoins and CBDCs might play’ meaningful part’ in payments — Visa CEO

January 25, 2023
Is Cryptocurrency Safe? Risks and Safeguards to Consider in 2023

Is Cryptocurrency Safe? Risks and Safeguards to Consider in 2023

January 26, 2023
Crypto Will ‘Play a Major Role’ in UAE Trade Going Forward, Minister Says – Regulation Bitcoin News

Crypto Will ‘Play a Major Role’ in UAE Trade Going Forward, Minister Says – Regulation Bitcoin News

January 24, 2023
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • U.S. President Joe Biden’s administration released a statement on Jan 27
  • Will Jim Cramer’s Bitcoin Price Prediction Be Wrong Again?
  • Enjin Coin (ENJ) And Huobi Token (HT) Holders Begin Migration To Orbeon Protocol (ORBN)

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 23,444.00 1.96%
  • ethereumEthereum (ETH) $ 1,610.88 1.49%
  • tetherTether (USDT) $ 1.00 0.02%
  • usd-coinUSD Coin (USDC) $ 1.00 0.09%
  • bnbBNB (BNB) $ 315.75 2.71%
  • xrpXRP (XRP) $ 0.413630 0.24%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • cardanoCardano (ADA) $ 0.390740 0.86%
  • dogecoinDogecoin (DOGE) $ 0.089994 0.31%
  • matic-networkPolygon (MATIC) $ 1.18 4.92%
  • okbOKB (OKB) $ 39.53 2.47%
  • solanaSolana (SOL) $ 24.34 0.15%
  • staked-etherLido Staked Ether (STETH) $ 1,608.00 1.4%
  • polkadotPolkadot (DOT) $ 6.60 1.39%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 0.76%
  • litecoinLitecoin (LTC) $ 95.40 7.75%
  • avalanche-2Avalanche (AVAX) $ 20.67 1%
  • tronTRON (TRX) $ 0.063661 1.19%
  • uniswapUniswap (UNI) $ 6.91 2.02%
  • daiDai (DAI) $ 0.999826 0.01%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,353.00 1.69%
  • cosmosCosmos Hub (ATOM) $ 13.54 1.19%
  • the-open-networkToncoin (TON) $ 2.48 2.53%
  • chainlinkChainlink (LINK) $ 7.39 1.21%
  • leo-tokenLEO Token (LEO) $ 3.66 1.76%
  • moneroMonero (XMR) $ 183.84 1.5%
  • ethereum-classicEthereum Classic (ETC) $ 22.35 2.03%
  • aptosAptos (APT) $ 18.20 3.69%
  • bitcoin-cashBitcoin Cash (BCH) $ 136.22 1.91%
  • stellarStellar (XLM) $ 0.093850 0.86%
  • apecoinApeCoin (APE) $ 6.14 2.22%
  • quant-networkQuant (QNT) $ 150.82 0.2%
  • nearNEAR Protocol (NEAR) $ 2.54 0.28%
  • crypto-com-chainCronos (CRO) $ 0.082089 0.72%
  • filecoinFilecoin (FIL) $ 5.38 0.47%
  • lido-daoLido DAO (LDO) $ 2.28 0.63%
  • algorandAlgorand (ALGO) $ 0.261869 2.23%
  • vechainVeChain (VET) $ 0.024732 1.72%
  • internet-computerInternet Computer (ICP) $ 6.14 3.87%
  • hedera-hashgraphHedera (HBAR) $ 0.068841 1.04%
  • axie-infinityAxie Infinity (AXS) $ 11.69 0.14%
  • decentralandDecentraland (MANA) $ 0.739392 5.38%
  • aaveAave (AAVE) $ 87.52 0.86%
  • fantomFantom (FTM) $ 0.479631 3.17%
  • eosEOS (EOS) $ 1.10 0.61%
  • the-sandboxThe Sandbox (SAND) $ 0.755888 1.47%
  • flowFlow (FLOW) $ 1.09 0.11%
  • elrond-erd-2MultiversX (EGLD) $ 45.06 1.15%
  • theta-tokenTheta Network (THETA) $ 1.11 1.7%
  • tezosTezos (XTZ) $ 1.17 5.27%