How far are we from the outbreak of Polkadot’s ecological application and how should we break the situation?

About a week ago, Kusama’s 15th Parachain Slot Auction ended, which means that Kusama’s third batch of Slots’ 4 auctions have all ended, and the fourth batch of Slots has also been opened. It’s been up to 5 months. After the auction, Kusama has entered a relatively stable auction rhythm, and projects connected to the relay chain have also been running steadily. It can be said that the auction and access in the past few months have verified the effectiveness of the parachain.

Therefore, when we look back at the current auction rhythm of Polkadot Slot, we will find that it is almost the same as Kusama a few months ago. At the same time, the third auction in the first round of the Polkadot Slot is also progressing smoothly. The third Polkadot Parachain Titans is about to be born. Of course, this round of competition is also slightly anxious, showing that the market enthusiasm is still worthy of attention. .

According to the established plan, the five parachains in the first round will be connected to the relay chain around December 18th, and blocks will be produced in the form of parachains. It can be said that the historical significance of this moment is no less than that of the Polkadot mainnet last year. Go online, even in the development of Polkadot enough to leave a strong and colorful stroke.

In addition, we have also seen the vitality of many public chains in Dapp, especially DeFi, NFT and recent hot chain games, which have brought new momentum to different ecosystems. Along this line of thinking, we can’t help thinking, parallel After the chain starts running, when will the Polkadot ecology usher in an application explosion, and in what way will it show unique innovations at the application level, from this we have launched the narrative of this article.

How does a public chain rapidly erupt into ecology?

In 2012, when the public chain collectively broke out, it seemed that a “hundred flowers blooming” situation was about to usher in. We can look back on the public chain wave we have experienced this year.

At the beginning of 2021, as the Crypto market picks up, ETH ‘s DeFi ecosystem has once again exerted its strength. However, due to Ethereum’s own flaws, the development of DeFi has been restricted, and other public chains have ushered in opportunities for the development of the ecosystem. In the first quarter of this year, as a decentralized public chain just launched in September last year, a series of high-quality projects broke out on BSC, and its transaction volume has surpassed that of Ethereum.

In addition, there is also the eye-catching Polygon. By opening a joint liquidity incentive plan with Aave, Polygon has obtained a large amount of TVL in a short period of time, and attracted many mature projects to deploy on it. start up.

In August of this year, the Avalanche Foundation announced that it would launch the $180 million liquidity mining reward program Avalanche Rush, and cooperate with well-known high-quality DeFi applications to encourage more applications and assets to join the booming Avalanche DeFi ecosystem. This action This has led to Avalanche’s lock-up volume steadily increasing.

Subsequently, Fantom also started its own public chain incentive plan. With the crazy call of Andre Cronje, the founder of Yearn Finance and the technical consultant of Fantom, Fantom has received huge attention and support. Almost at the same time, another public chain, Celo, also repeated the same tricks . Throughout August, a new wave of public chain development represented by Avalanche, Fantom, and Celo was set off.

But on the other hand, the strong rise of chain games in recent months has also forced us to pay more attention to the impact of chain games on the public chain ecology.

According to the latest data last week, the total revenue of the blockchain game project Axie Infinity in the past 30 days reached 190 million US dollars, and the total market value of P2E (Play-to-Earn) games like Axie has already Set a record high, breaking through 30 billion U.S. dollars. Chain games have become a development trend that cannot be ignored.

But despite this, we still have to look at chain games dialectically. Although Axie Infinity is now a separate ethereum side chain Ronin, and its TVL has already reached 1.4 billion US dollars, its early development is still in ethereum, but we found that Axie Infinity did not drive the development of ethereum’s own ecology. Instead, it verified the logic of chain games and inspired the development of games on many other public chains, such as Wax.

How far are we from the outbreak of Polkadot's ecological application and how should we break the situation?

Some of the characteristics of the chain game itself are different from DeFi, we need to disassemble it to see more clearly.

First of all, chain games do not provide developers with convenient tools like the Substrate framework. High-quality games require a lot of time to design. Second, unlike traditional games, the game journey can be started after downloading the App or the client and completing the registration. The chain game mechanism has to raise the threshold for players to use. Traditional players must at least learn to use digital asset tools to be able to gradually convert For chain game players.

More importantly, the game’s mechanics are often more complex, involving many designs that are specifically designed for gameplay, as well as some time-consuming and labor-intensive settings such as character training, customs clearance, etc. These factors will cause chain games to be costly. More time, and will limit the fund capacity of the account.

Therefore, the chain tour cannot be settled by big players or giant whales like DeFi, and then the project can develop rapidly. Therefore, although the current market shows that the development of chain games has broad prospects, chain games are not suitable as a common cold start method for public chains.

To sum up, looking at the entire Crypto industry, “Combination of public chain incentives and DeFi” has gradually become the most feasible way to rapidly erupt ecologically, and this method has also been verified. The ecological scale of the new public chain continues to expand. Although we cannot say that there is only one effective path for ecological explosion, there is a high-quality project in a model room that has been proved by practice. It can only be said that “chain incentive + DeFi” is currently feasible. The highest way.

In what form will Polkadot ecological applications explode?

Based on public chain incentives

Given that there is no technical threshold in the public chain incentives mentioned before, and the feasibility has been verified many times, we have every reason to believe that EVM-compatible parachains can also recreate a public chain incentive based on the above logic. If you can find a well-known DeFi project (AMM or loan) to jointly launch incentives (refer to Polygon and Aave), or support some good DeFi projects (AMM or loan) in your own ecology.

At present, Moonriver, the pioneer network on Kusama, has many projects deployed on it, and it has passed the cold start phase smoothly, and it has formed a small ecology. And now Moonriver’s TVL has fallen from 400 million US dollars to more than 300 million, but it has surpassed many previous husband chains.

How far are we from the outbreak of Polkadot's ecological application and how should we break the situation?

It is worth noting that Moonrvier is indeed practicing the public chain incentive plan. On November 5th, Sushi and Moonbeam created a cross-chain integration and joint liquidity mining plan for Sushi on Moonriver. The effect was immediate. TVL began to rise on the same day. Sushi on Moonriver quickly received a TVL of 80 million U.S. dollars, and helped Moonriver’s TVL to break through from 270 million U.S. dollars to 400 million U.S. dollars.

How far are we from the outbreak of Polkadot's ecological application and how should we break the situation?

Currently, only Sushi has received incentives from the Moonbeam Foundation’s Liquidity Acceleration Program. A total of 25,000 MOVRs are allocated to mining revenue. However, in the Liquidity Acceleration Program, there are still about 975,000 MOVRs that will be allocated to other projects in the future.

Moonbeam also obtained Polkadot’s second parachain slot, and Moonbeam is likely to be linked to the Polkadot relay chain in December, and Moonrvier will usher in Chainlink and Moonriver to launch “ERC20 type” KSM, Deployment of well-known projects such as dTrade and Lido.

Moonbeam/Moonriver will be a good example to show us how the public chain incentive plan will help a certain parachain to achieve an ecological outbreak.

At that time, other Polkadot parachains can also learn from the same method, and quickly ignite all other parachains, ushering in a big outbreak of Polkadot ecology. Of course, the premise here is that these parachains are mature enough in development to be able to carry the ecology. The smooth operation of the project.

How far are we from the outbreak of Polkadot's ecological application and how should we break the situation?

Poka’s unique path of outbreak

In addition to the above logic, there are some scenarios unique to Polkadot that will also bring the possibility of ecological applications to explode. We mainly focus on capital expansion and the connection of cross-chain scenarios. The two may become Polkadot’s unique ecological development. path.

Capital expansion

Polkadot has increased the amount of funds incurred by adding mature public chains, such as Bitcoin, ETH, Filecoin, etc., into its own ecology. Some mature asset projects with huge capital can be deployed to Polkadot, and USDT/ USDC has already expressed the need to connect to Polkadot.

In addition, through some cross-chain applications such as Anyswap, some assets on other chains will be crossed to the Polkadot ecology. Anyswap has already implemented the cross-over of USDC to Moonriver. Therefore, when the market expands, the ecology of the projects that can best catch these expansion funds will have the possibility of exploding.

Open up cross-chain scenarios

At present, due to frequent updates of the XCM version, the progress of multiple parachains in version confirmation and XCM docking and debugging is relatively slow. This is why there are multiple parachains on Kusama but still only Karura and Bifrost are the only ones that can interact with each other. The reason for the operation.

Therefore, when XCM is mature enough, we will see that more parachains can interoperate. The liquidity of this part of interoperability can empower both Polkadot and applications that can capture the value of cross-chain scenarios. .

Zenlink is one of them. Zenlink is a distributed blockchain network application unique to the Polkadot ecology. By providing a common DEX module, all parachains can quickly deploy DEX, and these different parachains can be quickly deployed. The DEX on the Internet is opened, so that their liquidity can be inter-chained.

Therefore, when the cross-chain scenario is opened up, cross-chain applications will be like fish in the water and vigorously develop the ecology. And so on, RMRK is doing application expansion in the direction of NFT. In the future, there will be more distributed blockchain network applications of this type in the Polkadot ecology. It will also better capture cross-chain traffic and usher in these The explosion of ecological applications has horizontally empowered Polkadot’s various parallel chains.

Of course, our description here is based on the analysis of Polkadot’s current situation. Perhaps there will be unexpected situations in ecological development, and this is also the charm of ecological development.

How far are we from the outbreak of Polkadot's ecological application and how should we break the situation?


When we look back at the Polkadot Parachain, we need to understand it simply from the architectural point of view, because of its structural consistency, which means that if a parachain succeeds in starting the ecology due to a certain operation method, and inspires its ecological application vigorously Development, then, this situation is likely to be reproduced on other parallel chains of Polkadot.

This is just like the public chain wave, because a certain project ignited the spark (here mainly refers to the public chain TVL incentives this summer), and the following public chains learned to reproduce, and thus there was a “new public chain boom”. For the same reason, The same story is likely to happen in Polkadot.

In about half a month, Polkadot’s first batch of parachains will collectively appear on the relay chain. At that time, who can run an example first will quickly ignite the entire wave like a spark. Card ecology.

Although some people criticize Polkadot for its slow foundation, we need to understand that once the foundation is laid, the speed of ecological development will increase exponentially. This is the case for Ethereum, and Polkadot will do the same. Perhaps in the next half month, Polkadot Card ecology is about to set sail.

Posted by:CoinYuppie,Reprinted with attribution to:
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