2021 Polkadot Ecological Development Annual Summary: Pengfei Wanli

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The time has come to the beginning of the new year again, and the past 2021 has left a deep impression on us. The new crown epidemic is still spreading around the world, and even the number of people who spread it has not decreased but has become more and more serious because of the arrival of winter.
Therefore, 2021 is still a difficult year for any industry. We had hoped that 2020 would be better in 2020, but obviously we underestimated the ability of the virus and had to continue to face this disaster.

For Polkadot, it seems that the past 2021 has also been affected by the epidemic. Some global activities have been significantly reduced. Even we can only share the joy of ecological development online through the screen, but it seems that we have become accustomed to this, but these None of them could hinder Polkadot’s stride forward, at least we have seen more dawn…

Whether it’s Kusama’s slot auction or the launch of the Polkadot parallel chain, everything seems to be moving from the bottom up with the fluctuations of the epidemic. Of course, we have also witnessed the development of other public chains in the blockchain ecosystem. Whether it’s Solana, which has been working hard in summer, or Terra, which has been soaring recently, it seems that other ecology has shown good vitality, but Polkadot ecology seems to have just hit the road, from “crossing the river blindly” to Qingqing grassland.

Therefore, when we summarize the development of Polkadot in the past year, there will always be many feelings. After all, from the popular ecology at the beginning of the year to the end of the year, it seems to be less interesting, and there is even a feeling of opening high and walking low. But some data are in turn “rejecting” the label, perhaps here is the meaning of the year-end review: to review and summarize the development of the past year from a more comprehensive perspective, and to make an outlook for the future.

So, let’s start with a timeline to review Polkadot’s annual big events in 2021, step up and take a look at the highlights of the past year.

Timeline reviewing Polkadot annual events

the first season

On January 7th, the top brand design company Koto will reshape the brand image of Polkadot, and Polkadot will undergo a major transformation through “on-chain” governance.

On January 14, the Polkadot (China) Ambassador Program 2021 recruitment was launched. In 2021, the ambassador program in China will be upgraded across the board. Based on the recruitment of junior ambassadors, it will be more internationalized; at the same time, a growth mechanism and incentives will be set up, and a broader international exchange will be established.

On January 15th, the Web3 Foundation participated in a workshop on real-world decentralized cryptography. The workshop will discuss topics such as distributed key generation, threshold cryptography, and multiparty computation, and will discuss the setup, robustness, and reproducibility of cryptographic schemes when deployed in decentralized real-world conditions in a concluding panel. structural plans.

On February 22, the Substrate Builder Program opened the certification system.

On February 23, Polkadot released the online process of parachains. Current Stage: Testnet First Show; Second Stage: Kusama First Show and Slot Auction; Third Stage: Polkadot First Show and Slot Auction.

On February 26, The Graph integrated indexing and querying into Polkadot. The Graph embarks on an official integration program with Polkadot to expand the decentralized data network into Polkadot’s thriving parachain infrastructure. This move will support developers using The Graph to build robust applications on Polkadot and enable all developers participating in the ecosystem to query Subgraph.

On March 9, Ledger Live has supported Polkadot. Users now have the option to manage their own accounts and interact with the network, including staking DOTs and signing transactions using their Leger hardware devices in the Ledger Live app.

From March 20th to 21st, the first Polkadot Hackathon was held in Shanghai. Polkadot Hackathon is the developer hackathon entrepreneurial competition of the Polkadot ecosystem, co-hosted by Parity and the OneBlock+ community.

Q2

On April 7th, the Polkadot India Hackathon, co-hosted by Switzerland’s Web3 Foundation and Lumos Labs, was held from March 30th to May 30th, aiming to enable programmers and entrepreneurs to create the next phase of the Internet Required skills, and the prize pool is $14,000.

On April 7, Tether (USDT) will be released on Kusama, followed by Polkadot, which will be the first stablecoin to be released on Polkadot.

On April 8, the auction details of the Polkadot network Kusama Canary Network slot were released.

On April 13, Berkeley Blockchain Xcelerator announced a list of co-startups for 2021. Over 200 projects have already applied to participate, and several of the 21 selected teams are related to the Polkadot and Substrate ecosystems. The 21 projects selected cover a diverse range of applications, from infrastructure to DeFi to sustainable practices.

On April 15th, the ninth batch of 48 Grant projects of the Web3 Foundation was announced.

On April 20th, Gavin posted on Github the three phases of launching the Kusama parachain function and a list of things to do.

On May 19th, Polkadot’s annual community conference, Polkadot Decode, was held as scheduled. This was Polkadot’s first Decoded event, which was planned with the help of the community. After a public voting phase, the final project has been selected, which includes 40 talks and workshops on Polkadot.

On May 13, Polkadot’s Kusama parachain has been upgraded through v0.9.1, and the parachain online referendum has been launched. The voting will end at 6:00 on May 15, Beijing time. This time, the parachain, auction and crowdfunding have been upgraded. related code.

On May 14th, Gavin Wood delivered a speech at the opening ceremony of the Web 3.0 training camp and mentioned the latest developments in Polkadot and parachains. He said that the most outstanding progress is undoubtedly the parachain system. Through this system, teams will be able to run their own parachains. At the same time, great progress has also been made in the aspect of switching bridges and frames. Also, both XCMP and XCM have made significant progress and have overdone a lot.

On May 18th, Gavin launched a motion to allocate a free slot for Shell on the Kusama network. The council has passed the motion, and parity has started the technical committee to speed up voting. Next, the Kusama council will continue to vote on the parachain consensus. Once stabilized, upgrade the shell to the Statemint asset chain!

On May 18, Kusama’s road to launch has begun and is expected to be completed in three steps in the coming days. First, the Shell parachain will be deployed on Kusama, which has just been approved by governance. The second step is to perform an upgrade. In this case, governance will vote to upgrade the Shell parachain to the Statemine parachain. The third step is to start the auction. Once the parachain with transactions and consensus is running well under the Kusama network’s 900 validators, the auction will begin!

On May 19th, Polkadot’s annual community conference, Polkadot Decode, was held as scheduled. This was Polkadot’s first Decoded event, which was planned with the help of the community. After a public voting phase, the final project has been selected, which includes 40 talks and workshops on Polkadot.

On June 3, the Polkadot Kusama Council has voted on the motion to upgrade the shell to statemine and announced that referendum 114 has passed, setting the shell storage to the genesis of Statemine and including the calls required to update the UMP queue configuration. Next, the shell will be upgraded to Statemine.

On June 8, the Canary Network Card Slot Auction Rules were officially released.

On June 15, Polkadot officially launched Coinbase Pro. Starting June 14, transfer DOTs to Coinbase Pro accounts prior to trading. With the exception of Singapore, Coinbase-supported jurisdictions typically offer support for DOTs. Trading will begin on or after 9AM Pacific Time (PT) on Wednesday, June 16, if liquidity conditions are met.

On June 23, the first parachain successfully connected to the Kusama Canary Network. The highest bidder in the first auction was Karura, the DeFi hub of the Kusama and Acala sister networks, which automatically joined the first parachain slot and successfully started producing blocks in just three hours after the auction ended. Acala is the cross-chain decentralized finance DeFi hub of the Polkadot ecosystem, and Karura will serve the Kusama community.

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the third quater

On July 6th, the third Kusama parachain slot auction has ended. Astar’s (original Plasm network) pioneer network, Shiden, successfully won Kusama’s parachain with 138,457 KSM locked. The parachain has been successfully connected to the Kusama relay chain, providing Polkadot The last core feature outlined in the white paper: purpose-built, interoperable parachains.

On July 8, the Web3 Foundation announced the cancellation of the $100,000 Grant cap through Twitter. “Based on our commitment to promote the Web3 ecosystem, we launched a strong Grants program to fund development and research on Polkadot, kusama, and Substrate. Now we have lifted the maximum funding limit for general grants.”

On July 14th, the fourth Kusama parachain slot auction has ended. Khala Network, the leading network of the Polkadot privacy computing project Phala, successfully won the Kusama parachain with 132,280 KSM locked.

On July 20, the fifth Kusama parachain slot auction has ended. Bifrost Network, the pioneer network of the Polkadot Staking liquidity cross-chain network project Bifrost, successfully won the Kusama parachain with 142,431 KSM locked.

On July 22, the latest version of the 2021 Web3 Foundation Grant Program was released.

On July 28, the Kusama community voted to upgrade the runtime of the Statemine parachain. Statemine is Kusama’s first featured parachain. Just like the launch of Kusama and Polkadot, the launch of a parachain is a complex process.

On August 13, in the process of finding a management and support team to build the decentralized web, the Web3 Foundation reached another important milestone – a total of 300 projects have passed the grant program.

On August 19th, the first batch of 5 parachain slot auctions on Kusama have been successfully concluded during June and July, and the second round of Kusama parachain slot auction 9.1 has started.

On September 7th, Gavin Wood published an article on XCM (Cross-Consensus Message Format).

On September 8th, the candle period for Kusama’s sixth auction ends! KILT managed to win Kusama’s sixth slot with 219,999.9 KSM locked! It will be connected to the Kusama relay chain at 18:27, and blocks will be produced in the form of a parachain!

On September 10th, following the 2020 summit, the Web3 Foundation was once again confirmed to be the platinum sponsor of the 7th Blockchain Global Summit. Polkadot, a project funded by the Web3 Foundation and supported by Parity technology, will be exhibited during the summit to exchange the latest progress and achievements with the participants.

On September 13, Sub0 Online returns from October 13-14. Gavin Wood, founder of Polkadot, delivered a keynote speech, leading everyone to understand the development journey of Substrate and look forward to the future of Polkadot and Kusama’s blockchain framework. Sub0 Online brings together experienced and high-level Substrate developers and learners for two days of in-depth talks on the blockchain framework aimed at building custom Polkadot-compatible blockchains.

On September 15, Manta Network’s first network, Calamari Network, won the Kusama 7th parachain slot auction with 218,247 KSM lock-up votes, and will soon be connected to the Kusama network to become a parachain block. Calamari Crowdlending Contributors reached 16,005.

On September 16, Gavin Wood released the second part of XCM: Version Control and Compatibility.

On September 22, the Web3 Foundation has added kUSD as a payment method for its grant program (Grant). kUSD is the first decentralized stablecoin in the Polkadot ecosystem, which is generated by multi-asset mortgages.

On September 29th, the candle period for Kusama’s 9th auction ends! Altair managed to win Kusama’s 9th slot with 112k KSM locked! Connect to the Kusama relay chain and generate blocks in the form of a parachain!

On September 30, Gavin Wood released XCM Part 3: Execution and Error Management.

fourth quarter

On October 6th, the candle period for Kusama’s 10th auction ends! Parallel-Heiko managed to win Kusama’s 10th slot with 202,793 KSM locked! Connect to the Kusama relay chain and generate blocks in the form of a parachain!

On October 12, the Web3 Foundation has selected the 11th batch of projects to pass its funding program.

On October 22, Polkadot launched a global developer event. The event is a partnership with AngelHack, an eight-week hackathon that is an opportunity to build a blockchain or put ideas into code.

On October 13, Gavin tweeted that when other chains take months or even years to complete the deployment and upgrade of new network functions, Polkadot and Kusama only took 8 hours to deploy new logic to the chain, And it’s a secure, decentralized process that is jointly managed by the stakeholders.

On October 14th, nearly five years after the Polkadot white paper first outlined the vision for a heterogeneous multi-chain framework, parachains are now officially ready for launch on Polkadot. Polkadot founders Gavin Wood and Robert Habermeier announced that Polkadot is now technically able to support its first parachain, followed by the Polkadot Council’s proposal to start the network’s first parachain slot auction on November 11 .

On October 22, Rococo will become a decentralized community parachain testing platform

On November 1st, the Polkadot Council passed Motion122, which aims to open the registration and Crowdloan of parachains on the Polkadot network. The parachain team will start the registration of parachains and start the Crowdloan activity at about 02:15 am on November 5, 2021, China time.

On November 2, the 13th Kusama Auction is now open, in line with the content of the previous Motion 384 arrangement!The auction will continue next week and end on November 8, 2021.

At 1:51 a.m. on November 12th, the referendum on the 39th to start the parachain slot Auction on the Polkadot network was officially completed, which means that the Polkadot parachain slot Auction was officially launched.

On November 12th, the Polkadot Asia Pacific Hackathon Technical Seminar was held at 21:00 (Beijing time) on November 12th.

On November 16th, Unique Network pioneer Quartz won the 14th parachain auction, and Quartz is now the 15th parachain of the Kusama network. Over 8800 users have staked KSM for Quartz.

On November 16th, Polkadot’s first auction has entered its final candle period (starting on Saturday, November 13th).

On November 18th, the candle period of Polkadot’s 11th auction ends! Acala successfully won the first slot of Polkadot with 32.5 million DOT locked! Access the Polkadot relay chain and generate blocks in the form of parallel chains.

On November 23rd, Kusama’s 15th parachain slot Auction ended. DeFi lending protocol Equilibrium pioneer network Genshiro won Kusama’s 15th parachain slot with 47,425 KSM locked.

On November 25th, the second parachain slot Auction on the Polkadot network ended. Moonbeam won Polkadot’s second parachain slot auction with 35,759,900 DOT locked and successfully connected to the Polkadot network.

On November 28th, the 4 winners of Kusama’s third batch of slots: Picasso, Bit.Country Pioneer, Quartz, Genshiro will all be at the start of Lease 17, which is on November 28th at 3:50AM domestic time, district When the block height is #10,281,600, it is connected to the Kusama relay chain, and blocks are generated in the form of a parallel chain.

On November 28th, Kusama Network opened the 16th slot Auction, and the fourth batch of slots will have 5 Auctions.

On December 1, Gavin said in an exclusive interview: Web3 decentralized technology is the only hope to maintain freedom and democracy.

On December 2, Astar won Polkadot’s third parachain slot auction with 10,333,500 DOT locked.

On December 3, Edward Snowden and Polkadot founder Gavin Wood will have a historic discussion on Web 3.0

On December 9, Parallel won Polkadot’s fourth parachain slot auction with 10,751,500 DOT locked, and successfully connected to the Polkadot network.

On December 12, Kusama’s 17th auction ended! Zeitgeist wins Kusama’s 17th slot with 77,028 KSM locked! Connect to the Kusama relay chain and generate blocks in the form of a parachain!

On December 14th, Gavin Wood was elected as one of the most influential people in the crypto space in 2021.

On December 15th, Motion 131 passed the Council, was fast-tracked by the Technical Committee, voted on referendum 46, and Shell was upgraded to the #Statemint parachain on December 17th, allowing anyone to create assets and mint NFTs on Polkadot.

On December 16, Clover Finance won Polkadot’s 5th parachain slot auction with 9,752,400 DOT locked.

On December 18th, the first batch of 5 parachains of Polkadot started slot leasing on December 18th. Now all 5 parachains have successfully integrated into Polkadot. The first batch of parachains that won the auction on Polkadot were Acala, Moonbeam, Astar, Parallel Finance and Clover.

On December 20, the Polkadot community has approved the upgrade of Shell’s parachain to Statemint, Polkadot’s dedicated parachain for asset functions. Shell parachains contain almost no logic, other than an XCM interface to get messages from the relay chain to ensure Polkadot’s finality guarantees work properly before adding any parachains with more advanced functionality. After the community unanimously passed referendum 46, Polkadot sent two messages to its shell and instructed it to perform an upgrade to Statemint.

On December 22, Kusama’s 18th auction has ended! Sakura Finance successfully won Kusama’s 20th slot with 17,416 KSM locked! Connect to the Kusama relay chain and generate blocks in the form of a parachain! (Added Statemine and Encoiner after slot 17)

On December 23, Deutsche Telekom adopted the Polkadot network and plans to build applications using Substrate.

On December 24th, according to the arrangement of referendum 39, the second batch of parachain auctions was held as scheduled! Auctions 6-11 will take place over the next 12 weeks, with new auctions starting every two weeks. So far, 12 parachains have participated!

On December 28th, Crust Network successfully won Kusama’s 21st slot with 30,026 KSM locked! Connect to the Kusama relay chain and generate blocks in the form of a parachain!

On December 30, Efinity won Polkadot’s 6th Parachain Slot Auction with 7,695,300 DOT locked.

Polkadot ecological development

Polkadot Ecological Watch

Developer situation

2021 will be a year in which many public chains will flourish. Ethereum is no longer the only one, and the hot topics are not limited to DeFi. Therefore, from the perspective of developers in the entire blockchain industry, this year is also quite rewarding. A prosperous year.
According to Electric Capital data, in the past year, the number of monthly active developers in the Web3 field has increased significantly in 2021, from an average of about 11,000 in 2020 to 18,416, an increase of more than 60%.

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 Data source: Electric Capital Developer Report (2021)

Of course, this has the most direct relationship with emerging public chains such as BSC, Solana, Polygon, Terra, Avalanche, Fantom and other emerging public chains in 2021. We can see this from the price trends of these public chains. Do repeat.

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Data source: Electric Capital Developer Report (2021)

Judging from the current number of full-time average monthly developers of various public chain projects, Polkadot has increased from 840 in 2020 to 1,400, making it the second largest public chain ecosystem after Ethereum, and more than the third-placed Cosmos nearly 400 people. The top five ecological projects are: Ethereum, Polkadot, Cosmos, Solana and Bitcoin.

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 Data source: Electric Capital Developer Report (2021)

However, the development time of each public chain is different. If we compare the growth of developers from the first submission of the project, we can see that Polkadot is the second largest ecosystem. From the perspective of the vertical axis, in the same In the development time, Polkadot has the most developer support, which is a little higher than Ethereum; from the perspective of the horizontal axis, the time required for Polkadot to obtain the same number of developer support is the shortest among all public chains. . Therefore, Polkadot is well-deserved as one of the leading projects in the Web3 ecosystem.

However, the above two data need to be further explained, because many friends feel that since there are so many developers of Polkadot, why do they feel that Polkadot is still in the early stage and the ecology has not developed yet?

This is because Polkadot is a Layer 0 meta-protocol, and its development path is different from that of the general Layer 1 public chain.
In general, most of the developers in the Layer1 public chain are application developers who build applications such as DApps or DeFi on their public chains, and applications are the carriers that can most directly activate the ecosystem and can quickly attract users and funds into the ecosystem, so Layer1 The launch of the public chain will be much faster than Polkadot.

Most of the developers in the Polkadot ecosystem are building Layer 1 parachains, and there are far fewer developers building applications. Therefore, even though there are so many developers in the Polkadot ecosystem, Polkadot is still in the early stage of ecological development because they are polishing Layer 1.
However, with the official access to Polkadot of the first 5 parachain projects that have won Polkadot slots in December 2021, Polkadot’s many Layer 1 parachains are ready to go, making final preparations, and will soon begin to develop the ecosystem.

Of course, you don’t have to worry too much about these Layer 1 parachain ecosystems, because these parachains are basically compatible with EVM, and you can quickly access some mature applications in the EVM ecosystem. Developers familiar with Solidity on Ethereum can also The seam transitions into the Polkadot ecology.
Moonbeam’s first network on Kusama, Moonriver, can develop a good ecosystem a few months after the mainnet is launched. Problems with parachain startup.

In addition, in the Substrate and Parachain technology channels of the official Element (chat platform), there were only 2,600 people 12 months ago, and now there are nearly 10,000 people, and the expansion has more than tripled, and this data is also more active than the statistics of Electric Capital just now. The number of developers is much larger, which may mean that there are more potential developers who are still learning, and the Polkadot ecological development is full of stamina.

Community situation

Community is one of the important indicators to directly reflect the influence of the project. In the past year, the number of Polkadot’s official Twitter followers has increased from less than 100,000 at the end of 2020 to more than 1 million now, a substantial increase of more than tenfold, and Kusama’s Twitter followers have also grown from about 30,000 to more than 200,000. , an increase of more than 6 times.
The total number of other media channels is also growing, with Polkadot now having more than 70,000 followers on Reddit and 20,000 on Discord, and the YouTube channel now has more than 40,000 subscribers. (These data visually break the rumor that “Polkadot is only Chinese participating”.)

There are many reasons for this to affect growth. The biggest reason is the expansion of the industry pool on the macro level. Overseas attention and acceptance of the Crypto field have grown so much in 2021 that users and funds in the entire Crypto field have grown rapidly.
One of the representative events is that Coinbase officially became the first Crypto exchange to list U.S. stocks in April. In addition, the United States continues to open the gates to fight the epidemic and maintain the economy, so that the funds entering the Crypto field are far more than in previous years. Coinbase’s downloads have also topped the Apple App Store for some time.

Then there is the influence in the industry. 2021 is a year when various public chains explode, and it also attracts many developers to continuously try new public chains, attracting users’ attention and participation in the Polkadot ecosystem, and attracting capital to deploy in advance Polkadot Ecology.

Finally, 2021 is also the year that Polkadot’s important functions will be launched. The parachain slot auction, which has been waiting for many years, is finally launched. The active crowd-lending activities of various parachain projects have also brought a large number of fans to Polkadot.

So far, from the current situation of Polkadot, the number of developers and the number of users have grown considerably. From this order of magnitude, the human base required for the ecological explosion is already very complete. The ecological development of the card is only a matter of time.

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Treasury Governance

The treasury is an important source of funds and an organization for the development of the Polkadot ecosystem. The operating mechanism of the treasury is to raise DOT/KSM funds through a part of inflation, a part of transaction fees, and Slash, and then through expenditure proposals, tips and bounty tasks. Way to spend funds and burn a certain percentage (Polkadot is now 1%, Kusama is 0.2%) at the end of each spending cycle (24 days for Polkadot and 6 days for Kusama). (So, don’t say that Polkadot has no destruction mechanism)

In 2021, Polkadot’s treasury will receive a total of about 15.17 million DOTs, equivalent to $390 million, spend 74,424 DOTs, equivalent to about $1.92 million, and destroy 2.47 million DOTs, equivalent to $63.72 million. Among them, 50 proposals have been issued or approved, 177 tips have been issued, and 0 bounty tasks have been issued.

Kusama’s treasury received a total of 290,000 KSM, equivalent to about $60.46 million, and spent 13,716 KSM, equivalent to about $2.86 million. Among them, 58 proposals have been issued or approved, 301 tips have been issued, and 3 bounty tasks have been issued.

Regardless of the total amount spent or the number of various types of spending, the Kusama treasury is slightly more active than the Polkadot treasury. This once again shows that Kusama and Polkadot are not only different in some parameters, but also in terms of governance, and their ecological development will be different from Polkadot in many ways.
At present, the ecological project connected to Kusama has many differences from the ecological project connected to Polkadot, and the transfer bridge from Kusama to Polkadot is also being developed by Parity, and Kusama is stepping out of its own world.

In addition, whether it is Polkadot or Kusama’s treasury, the capital utilization rate is not high, not more than 20%. At present, the official is also considering a number of improvement plans to increase the capital utilization rate of the Polkadot treasury. The development of Polkadot ecology will be Get more support in 2022.

Ecological project situation

With the Kusama parachain slot and the Polkadot parachain slot auction held as scheduled, the Polkadot ecological project is more prosperous and stable. Let us review the support and ecological situation of the official Grant in 2021, so as to have a basic understanding of the Polkadot ecological project.

Official Grant support for ecology

In 2021, 124 projects built by 114 teams received funding from the Web3 Foundation. Compared with 142 projects last year, the number has dropped.
But from the 114 teams supported by Grant, we can clearly find that Grant’s support for ecological projects is more targeted, mainly focusing on popular tracks and infrastructure tools such as NFT and DeFi.

By the end of 2021, a total of 300 project teams in more than 50 countries and regions have received Grant support. The decrease in the number of projects supported by Grant does not represent a decrease in official Grant support.
The construction of the Polkadot ecosystem today is like a skyscraper with cement poured into rebar, and only high-quality projects can stand out from the waves.

At the same time, the official updated the Grant plan in August 2021, merging the original General Grants and Open Grants into a new plan of three levels, and no longer setting a funding cap, good projects can get higher funding support, Of course, the requirements for the project will also be higher.
In addition, while the main content of the official Grant’s funding program is funding and feedback on delivered milestones, if the project encounters any specific problems during development, the official will do its best to provide the correct available resources. The official Grant’s support for ecological projects is more focused and open, and the support is stronger.

ecological situation

Up to now, according to incomplete statistics, a total of 523 teams, projects or applications have joined the Polkadot ecosystem, including some NFTs, chain games, DeFi, communities and many other applications. Compared with last year, it has increased by 62%. It can be said to be the year of the outbreak of ecological projects.

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Comparing the data of two years, we can see that SubstrateBased, infrastructure projects and ecological projects of the DApp track have increased significantly, while the proportion of infrastructure projects and DApps in all ecological projects has increased.

Track distribution of Polkadot ecological projects in 2020 and 2021

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At the same time, with the official opening of the Kusama and Polkadot parachain slot auctions, the Polkadot ecosystem has officially entered the stage of ecological development.

Project financing

From an investment perspective, our ecosystem also continues to grow rapidly, with an estimated 350 teams (250 more than last year’s estimate) gaining traction with institutional, community and individual investors. And 50 of these teams, applications, and projects have collectively raised more than $670 million in early-stage funding (seed and Series A).

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According to incomplete statistics, in 2021, there will be 72 global financings of great significance to the prosperity of the Polkadot ecosystem, of which 48 financings with disclosed amounts raised a total of about $360 million. And most of these financings occurred intensively in the second half of the year, and many high-quality projects received multiple rounds of financing.

We made a simple analysis and comparison of last year’s data with this year’s data. It is not difficult to find that the overall investment and financing amount in 2021 will show a monthly upward trend. And in May, September, December ushered in three small peaks. We dismantled the investment and financing events of the month.

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It is not difficult to find that there were 16 financings in May, more than one-fifth of the total financing in the year, mainly composed of important tracks such as NFT, DeFi, DAO and the recently popular Metaverse. In May, as the initial stage of the NFT outbreak, the sensitivity of the Polkadot ecosystem to the direction of Web 3.0 is evident.

In September, although there were only 6 rounds of financing, whether it was Acala, the world’s first decentralized open financial alliance of $61 million, or a perpetual options trading platform designed to build a Polkadot ecosystem of $22.8 million In dTrade, investors and financing parties focus on DeFi without exception.
This just shows that the economic system of the Polkadot ecosystem is gradually improving and becoming prosperous. It is no longer a barren undeveloped land, but an oasis full of spring.

Then in December, 2021, the first year of the Metaverse, came to an end. Polkadot drew a more successful one-year investment and financing event with the investment and financing events of the three popular tracks of Metaverse, Infrastructure, and DeFi. period.
And we see more and more power from the community in investment and financing events.
The $36 million financing event from users in the Bit.Country&Metaverse.Network community made us more deeply understand that the infinite charm of Polkadot comes from a high degree of decentralization and community support.

This year’s project financing of Polkadot Ecology has not only directly increased the number of projects that have received financing by about 250%, but also raised more and more funds for these projects. More and more scenes, such a thriving scene, are mainly for several reasons:

1. Expansion of the macro market

As we mentioned before, the expansion of the macro market provides sufficient funds for the entire Crypto ecosystem, and the popularity of various DeFi, NFT and other applications in Crypto, as well as the outbreak of the public chain ecology, also encourage capital parties to invest more funds To the Crypto field in advance layout.

In 2021, many capitals have raised a new round of funds to invest in the Crypto field. The amount of financing has been directly increased tenfold compared with the level of 10 million US dollars in previous years, calculated in units of 100 million. Some well-known traditional capitals represented by a16z and Sequoia Capital will also show their strengths in 2021.

2. More and more capital is paying attention to Web3

Under the prospect of rapid development of the industry, more emerging concepts are recognized by the public, and Web3 is the most suitable direction for the current trend of decentralization. Even at a Crypto hearing held in the U.S. House of Representatives in December last year, Republican Congressman Patrick McHenry once asked “How do we ensure that the Web3 revolution happens in America”.
As an important infrastructure for the development of Web3, the development of the Polkadot ecosystem has undoubtedly attracted the attention of many capitals.

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3. Polkadot ecological projects gradually mature

The Polkadot ecosystem in 2020 is still in its infancy, but it has attracted many developers to develop silently. In 2021, these research and development projects will gradually mature after the precipitation of time.
This has also attracted the investment and layout of many capital parties, and the vigorous development of other public chain ecosystems has also provided a reference for capital parties. Those directions that have been verified in other public chain ecosystems are still in the early stage of development in the potential Polkadot ecosystem, and there are enough expectations.

4. Polkadot Auction

It is also one of the important reasons why Kusama and Polkadot’s parachain slot auctions are going well in 2021.
Especially after a preview on Kusama, on the one hand, many ecological projects are encouraged to be more active and fully prepared for Polkadot’s slot auction in advance. On the other hand, after running the first network on Kusama, it also allows The team of the ecological project realizes that more funds may be needed to develop the mainnet on Polkadot.
Therefore, this also more or less inspired the project party to raise funds more actively in the second half of the year.

5. Polkadot ecological unique project

Although the phenomenon of homogeneity of public chains and blockchain applications is serious, some projects in the Polkadot ecosystem have expanded into new directions thanks to Polkadot’s existing architecture and development potential. For example, Zenlink and RMRK, which have opened up a unique track for distributed blockchain network applications, and Gear Technologies, the Wasm smart contract platform, etc. And these projects have also received a lot of attention.

In general, 2021 will be a meaningful year for both Polkadot and the entire Crypto industry. Unlike last year’s boom in DeFi and NFT, 2021 will be a year of true blooming flowers. , both the application and the public chain have blossomed, the application has expanded in more directions and composability, the public chain has also stepped out of some dedicated chain logic, and other elements such as multi-chain ecology, Layer 2, Metaverse, and chain games. Join the Crypto world.
2021 is really a wonderful year, and in 2022, despite the expectation that the global currency will tighten due to the increase in US interest rates, we believe that the growth and changes of Crypto itself, and the dividends brought by it will definitely offset this negative impact. 2022 Years will continue to write this wonderful picture.

Our own summary

In the past year, our Polkadot Ecological Research Institute has also achieved good development. We will publish a total of 100 original articles in 2021, including 34 in-depth articles with more than 5,000 words. We are the team that outputs the most original content of Polkadot in the industry, and the entire network has received more than 50 million views.

In 2021, we have received financial support from the Polkadot treasury three times, established Twitter and Telegram groups, and our English article “One Article to Understand The Past, Present, and Future of Web 3.0” has also been officially reprinted and forwarded. Article details:
https://medium.com/polkadot-network/one-article-to-understand-the-past-present-and-future-of-web-3-0-5433962b7c3e

021

The new year is the time when the Polkadot ecosystem has accumulated a lot. Our Polkadot Ecological Research Institute will continue to provide you with high-quality content and more observations to discover the value of Polkadot and its ecology. I hope you will continue to pay attention to us.

Summarize the past and look to the future

Polkadot year-end data summary

In last year’s year-end summary, our foothold data was only the data after the mainnet was launched, but this year, with the development of Polkadot, we have more available data to share with you, which also reflects from the side In view of the growth of Polkadot and its ecology, the following are the year-end data that we have listed (as of UTC+8 2022.1.6).

Validators: 297 (up 8.79% year-on-year)

Candidate validators: 718 (up 125% year-on-year)

Mortgage rate: 63.8% (down 14.13% year-on-year)

Number of addresses held: 850,627 (an increase of 1239% year-on-year)

Inflation rate: 7.84% (down 21.6% year-on-year)

The number of official Grant projects currently awarded: 329 (an increase of 61.27% year-on-year)

Number of Kusama parachains: 16

Kusama Parachain Lockup: 3,038,800 KSM

Number of Polkadot parachains: 6

Polkadot Parachain Locked Amount: 116,135,400 DOTs

New Year’s Outlook

With the official launch of the Polkadot parachain at the end of last year, the second round of slot auctions is in full swing. It seems that Polkadot is moving towards what it expected many years ago, but I have to say that we have waited too long for this stage. Even now, it is still full of unknowns, but when we review the various data of Polkadot this year, as we have shown in the report, everything seems to be doing well, and this is also our expectation for 2022. Reasons to have more expectations.

Of course, in a sense, the market performance of Polkadot in 2021 may not be within the expectations of the public, but in terms of ecological development, when everything is still in preparation, how can it show real value? And the failure to present the value will not be reflected in the price, which is the fundamental aspect that is inseparable from any field.

As Polkadot founder Dr. Gavin stated in Polkadot’s year-end review, “2022 is the beginning of the next chapter of Polkadot’s story, unlike any previous year”, we have reason to believe that with the smooth progress of Polkadot Auction With the advancement and the gradual improvement of the Polkadot ecosystem, we will see more interesting stories happening in the new year, and this is exactly what we hope.

2022 has kicked off, and the new chapter of Polkadot has also opened. What we have to do is to wait for the arrival of the Web3.0 era, and then look at the new power that Polkadot and its ecology have brought us!

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/2021-polkadot-ecological-development-annual-summary-pengfei-wanli/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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