Poka Eco Week Watch: Poka is about to take off, but suddenly encountered the general environment becomes cold, where to follow?

Poca is on the verge of an ecological explosion, but it’s not performing well, why?

Poka Eco Week Watch: Poka is about to take off, but suddenly encountered the general environment becomes cold, where to follow?

Poca Week Watch is a compendium of what happened in the last week for the entire Poca ecosystem, as well as sharing some of our observations of these events in the vernacular. This article is intended to provide information and opinions, and does not endorse any projects. Any projects mentioned will not be recommended for investment, but only for information purposes.


Observations and Opinions

A. Boca ushered in the occasion of ecological explosion, but underperformed, why?

This week’s performance of Boka can be described as a series of twists and turns.

Firstly, the much-awaited Kusama slot auction finally came to the doorstep. On the code level, Poca released v0.9.1 and successfully deployed the parallel chain, auction and crowd lending features in the Kusama network after code audit. The first parallel chain Shell has been deployed on the permanent test network Westend, and the next step will be for Shell to become Statemint, the first parallel chain and a parallel chain for the public good as a universal asset chain. After Statemint, the auction details will be disclosed and the formal auction process will be held.

There is not much time left for project parties and participants who are ready to participate in the Kusama slot auction! We at Boca Ecology Research Institute also wrote two weeks ago in the article “Boca Ecology One Week Observation 丨Why institutions are bullish on Boca; parallel chain function has been connected to Kusama, only the east wind is missing”.

We have already called for everyone to get ready. This week, many well-known polka ecological projects such as Acala’s Karura and Bifrost have also disclosed their slot auction rules, so those who want to get low price chips for polka ecology should not be lazy at this time.

Secondly, the second phase of Web3 Startup Camp was also successfully held this week, where Dr. Gavin Wood shared the latest progress of Boca and Kusama. And in a few days, on the 19th and 20th, we will have the biggest event of the year, the online Polkadot Decoded community conference. At that time, Dr. Gavin Wood will also announce the time of Kusama parallel chain auction, so don’t miss it, there will be a way to attend at the end of the article.

With so much good news, Polkadot was supposed to have a stronger performance, but it seems that the big drop in Bitcoin brought down Polkadot. Many people are saying that Elon Musk is the one who is playing tricks to make Bitcoin crash. But let’s not forget that cryptocurrencies are now no longer that small circle of circles that captivate themselves, but a circle of alternative assets with a lot of traditional capital and companies moving in. Polka is part of the cryptocurrency pool, and the cryptocurrency pool is also influenced by a larger circle, the economic environment.

The broader economic environment is what we should be most concerned about as the biggest uncertainty factor affecting the cryptocurrency space.

So what is going on?

Second, the general environment is cold, where will the boca go from here?

The U.S. recently disclosed new economic data, April non-farm data and CPI are very less than expected, inflation is serious, additional money was issued but the epidemic is still affecting, and the real economy is still not recovered. So, there is an expectation of interest rate hike in the US.

At the same time, cryptocurrencies are extremely hot, Coinbase rushed to the first place in the download list, and the soaring dogs a while ago triggered the zoo effect and chaos, while the regulation has not yet kept up, and many hot money flows into the cryptocurrency field, which is going to affect the recovery of the real economy.

Therefore, we can see that recently the United States is accelerating the regulatory research on cryptocurrencies, and the next step may be to regulate and collect taxes. Because the development of the digital world led by blockchain is irreversible, blocking is not as good as sparing, but it has early dividends that can attract hot money, then we can only introduce policies to incentivize hot money to go to the real on the one hand, and on the other hand, impose a high asset profit tax on cryptocurrencies, and then use the tax money for the real.

So, we will face the impact on cryptocurrencies from the expected interest rate hike, regulation and tax collection. The dividends from the polka ecology as the slots go live and the ecology starts to develop officially will also be hedged against. At that time, the biggest question will be how to select the best projects among them.

Here is the introduction of last week’s Polka Eco news, please enjoy.

Official News

Parity has added crowdfunding and auction features to Kusama and Westend networks

The GitHub page shows that Parity has added crowdsourced lending and auctions to the Kusama and Westend networks. In previous news, Gavin Wood, the founder of Polka, has officially deployed the parallel chain module to Westend and Kusama Runtimes, which means Parity has added the parallel chain functionality to the Kusama network, and the next Kusama upgrade will support parallel chains. This is the first step of Kusama parallel chain online, next will be governance voting and other deployment of whiteboard chain, public interest parallel chain, etc., and then will start to support the parallel chain registration of project parties, that is, to start the parallel chain slot auction

[Gavin Wood: Kusama’s first parallel chain Shell will be online in the next week or so]

Gavin Wood, Founder of Boca and Chairman of Web3 Foundation, said at the opening ceremony of Web3.0 Bootcamp Phase II that we have conducted auction testing at Rococo over the past few weeks and also went live with a test parallel chain on Rococo. The number of validators has increased to 900, reaching the level of Kusama, which has also boosted our confidence, and we believe that namely it will be ready to go live officially soon. He also revealed that the first parallel chain on Kusama will be named Shell. “I plan that in the next week or so, after the verifiers finish updating, we will give the verifiers ample time to advance to version 0.9, do the runtime environment upgrade, do the final checks, and go live with the first parallel chain on Kusama, and this first parallel chain will be named It will be called ‘Shell’.”

[PolkaFirst.com Kusama has officially launched the parallel chain auction function]

On May 14th, according to the official news, Kusama, a parallel chain auction function has been officially launched. As previously reported, Poca Test Network Kusama Parallel Chain announced that it has passed v0.9.1 upgrade, this time upgrading the code related to parallel chain, auction and crowdfunding.

[Poca Founder: Parallel Chain has been deployed to Westend Perma test network].

Gavin Wood tweeted: Parallel Chain has been deployed to Westend Perma test network, followed by Canary Network, Kusama and Polkadot in that order.

[Web 3.0 Bootcamp Phase II opens with all 12 incoming teams debuting!

At 14:00 on May 14, 2021, the opening ceremony of Web 3.0 Bootcamp II was held in Shanghai Hongkou Financial Technology Building, with Gavin Wood, founder of Polkadot and chairman of Web3 Foundation, Du Yu, head of Wanxiang Blockchain Lab, Jia Yaoqi, head of Parity Asia, Hao Yukun, senior director of Wanxiang Blockchain, and 12 team leaders attending the opening ceremony. Dr. Gavin Wood also shared the latest developments of Poka and the process of Kusama parallel chain launch.

[Polka Weekly: Gavin Wood will announce the parallel chain auction time at Polkadot Decode]

PolkaWorld, the Polka China community, has officially released the latest edition of Polka Weekly Report. The specific important contents include: 1. Polkadot released v0.9.1 version and successfully deployed parallel chain, auction and crowd lending features after code audit in Kusama network. Regarding the exact timing of the auction announcement, Gavin replied in the Riot group that it will be announced at the Polkadot Decode Conference. 2. Polka’s 23rd referendum (to add a new identity registrant) has now failed with 93.55% of the votes in favor. Due to the low turnout, it must be approved by about 98% of the population to pass. 3. After discussions with the community, Klever decided to add an additional browser signer to their wallet proposal. 4. The Kusama network launched Referendum 108, where a proposal was made to set up a rescuer for lost accounts on Polkadot, but no details have been added on Polkassembly. 5. Cumulus has released a branch of polkadot v0.9.1! This one uses the Polkadot version of the branch and some of the branches fixed in Substrate. Also Rococo-v1 will probably be deprecated. 6. Rococo currently has no ongoing auctions, but parallel chains can still be added or removed manually. 7. Polkadot Decoded will be held next week on the 19th and 20th.

[PolkaWorld released the second issue of Kusama Treasury Report: 66 bills were supported by treasury funds]

On May 10th, PolkaWorld, the Polka China community, officially released the second issue of the Kusama Treasury Report. According to the report: 1. Kusama treasury currently has a total of 91 bill applications, and 66 bills have been passed so far! A total of 67,934 KSM have been spent. based on the current value of KSM, it is worth about $30 million, with an average of 1,029 KSM per bill. 2. Kusama Council also rewarded 217 tips, spending a total of 4,586 KSM. based on the current KSM value, it is worth about $2.1 million, and each tip gets about 21 KSM rewarded on average. 3. Both Kusama and Polkadot treasury are designed with a destruction mechanism, and Kusama currently destroys 0.2% of KSMs every cycle. 24,916 KSMs have been destroyed as of this posting, and based on the current value of KSMs, approximately $10 million worth of KSMs have been destroyed. 4. Kusama treasury has an available balance of 337,350 KSMs. Based on the current value of KSM, approximately $150 million worth of KSM was destroyed. Currently the treasury has used 16% of its funds. 5. From the 66 funded bills, the following categories are most likely to receive funding from the treasury: basic tools; infrastructure development and maintenance; wallets; integration; and marketing activities. 6. In addition to motions, Kusama Council also rewarded 217 tips, roughly including the following categories: Content category: output Kusama-related articles Education category: produce Kusama-related science videos Design category: produce Kusama-related emojis, motion pictures, desktop, wallpapers, etc. Documentary category: produce Kusama-related interviews and Documentary

[PolkaWorld released the second phase of Polka Treasury Report: 1,308,900 DOTs were destroyed 9.2% of DOTs were used to fund the Treasury spending bill]

On May 11, PolkaWorld, the Chinese community of Polka, officially released the second phase of the DOT treasury report. According to the report: 1. 14.386 million DOTs are currently in the Polka treasury as of today. 2. 15.84 million DOTs are in the Polka treasury, 96.53% of which are from DOT inflation and 3.3% from Slash. 1.45 million DOTs are spent in the Polka treasury, which is only 9% of the total treasury revenue. 3.1.389 million DOT were destroyed, accounting for 90.12% of total treasury spending, 9.2% of DOT were actually used to fund treasury spending bills, and 0.28% were used for bounties (Tips). 4. There are three types of expenditures for the Boca treasury (except destruction), Expenditure Proposal, Tip/Bounty, and Bounty. 5. Regarding the status of funding requests, there are 51 applications for Expenditure Proposal, 40 of which have been released, and 2 approved2 but not yet released; 173 applications for Tip, 16 of which are in progress; and two reward assignments, of which one is in progress.

Eco Big News

[Patract Open Platform, an open Polka Wasm contract technology consortium, is officially launched on its official website].

According to the official introduction, the official website of Patract Open Platform (POP for short) was officially launched on May 11, which is an open Polka Wasm contract technology alliance initiated by Patract Labs and jointly established by dozens of Polka ecological projects. The founding members are: Patract Labs, Acala, Apron, Coinversation, Manta, Litentry, OpenSquare, Plasm, Bifrost, SubDAO, Standard, Zenlink, Clover, Mathchain, Phala. Phala. media are: PolkaWorld, PolkaProject, Babbitt, Oneblock+.

Patract will provide a series of free open-source tool-based products and some closed-source service-based products, prioritizing network interfacing with platform members and supporting secondary and upper-level development. open Platfrom will explore three directions: contract model, contract standard (similar to ERC20 business standard), and Runtime interface customization.

[Karura, the first network of Acala, announced the rules of slot bidding]

Karura, the forerunner network of the polka project Acala, which also serves as the DeFi hub of the Kusama network, recently announced the Kusama slot bidding program, where all each KSM locked in the crowdfunding module will be rewarded with a minimum of 12 KARs (for one year), all KARs will be minted at the time of release, with a fixed total supply of 100 million, and a community-first Karura bids on Kusama parallel chain slots for a 48-week lease period. When those 48 weeks are up, the KSMs backed by users will be automatically released for return. In order to give the community first access to Karura’s range of DeFi products, the Acala team will offer a generous KAR reward to attract users who support Karura’s bidding.

[Bifrost announces Kusama slot bidding rules, has opened reservation at 19:00 on May 14]

Bifrost has officially announced the Kusama slot auction program. The auction will be conducted in the form of vsKSM Mint Drop (Mint Drop) and will be divided into two phases: the reservation phase is by invitation and will be opened on May 14, 2021 at 19:00 (BST).

vsKSM is a derivative of the Bifrost SALP protocol for Kusama parallel chain slot bidding, allowing users to gain the ability to hedge their risk when participating in Kusama slot bidding.

[Polkatrain V2.0 has been officially launched on May 10].

According to the official news, Polkatrain V2.0 was officially launched at 14:00 on May 10th. The security code upgrade, PC side 2.0 update, UI interface optimization, and pledge mining function are online.

[Convergence Finance, the off-chain asset trading platform, will integrate Moonbeam

According to the official news, Convergence Finance, the off-chain asset trading platform, will integrate Moonbeam, an ethereum-compatible smart contract platform on Polka, and seamlessly deploy the protocol to Web3 and Polkadot Substrate environments. Currently, Convergence has launched AMM ConvX on the beta network and opened a vulnerability bounty program. Convergence Finance is a decentralized fungible asset protocol designed to bring real-world assets into the decentralized world by establishing unforeseen liquidity through automated market maker AMM.

[Polkamarkets, a Polka eco-project, integrates with Moonbeam to accelerate migration to Polkadot]

On May 12, it was official that Polkamarkets, a Polka Eco DeFi and prediction marketplace, integrated Moonbeam Network, a smart contract platform, to accelerate the migration of Polkamarkets’ prediction market technology to Polkadot.

[Convergence Finance to Integrate Moonbeam

Officially, Convergence Finance, an off-chain asset trading platform, will integrate with Moonbeam, an ethereum-compatible smart contract platform on Polkadot, to seamlessly deploy the protocol into Web3 and Polkadot Substrate environments. Currently, Convergence has launched AMM ConvX on its test network and opened a vulnerability bounty program.

Polka Cross-Chain Prophecy Machine Paralink will be IDO on Polkastarter on May 24

Official news, Polka Crosschain Prophet Paralink announced that it will conduct IDO in Polkastarter on May 24. 1 billion PARA tokens will be issued, 6,666,666 PARA tokens will be sold through IDO, the token price is $0.045 per unit, participants must hold at least 250 POLS on ERC-20 or BEP-20 at least 7 days before the IDO date. -The whitelist application is currently open and will close at 10:00 PM (UTC) on May 18.

[Zeitgeist, a prediction marketplace based on polka ecology, is officially online on the test network]

On May 14, Zeitgeist, a prediction marketplace based on the PoC eco-system, officially launched its beta network and will launch the official prediction marketplace “The Kusama Derby”, where users can predict who will win the Kusama parallel chain auction.

Zenlink launches ZenlinkDAO’s bootstrap governance for the Polka Ecosystem cross-chain DEX protocol].

The ZenlinkDAO Governance Committee, which will initially be composed of Zenlink Foundation members, key community members committed to building Zenlink, strategic partners, investors, and others, will determine the future of ZenlinkDAO governance members will receive benefits such as a limited edition of ZenlinkNFT, access to ZenlinkDAO’s initial pool of funds, participation in decisions on Zenlink’s future direction and plans, and ZLK token rewards. The benefits include a limited edition of ZenlinkNFT, the right to control the initial pool of ZenlinkDAO funds, the right to participate in decisions on the future direction and plans of Zenlink, and the right to receive ZLK tokens. According to the official introduction, related projects, crypto communities, KOLs, media, and institutions can also nominate themselves to join ZenlinkDAO as initial governance members.

SubGift Announces Application for TrustBase Grant to Start Polka Ecological Layout

SubGift, the NFT integrated service platform for polka, announced that it has started to apply for TrustBase Grant, after passing the Grant, SubGift will receive financial, technical and ecological support from TrustBase, and layout the polka ecology through Subscript language to provide richer application scenarios for users. SubGift supports crypto artist applications, NFT casting, buying and selling, airdrops, auctions, mining, lending and social services, and is committed to providing NFT infrastructure adapted to the Web 3.0 network and enhancing value with the real world. TrustBase Grant is initiated by Subscript technical community, supported by HECO ecological strategic cooperation, TrustBase Foundation provides millions of funding support, each project that passes the Grant will receive up to $30,000 in funding support, while initially TrustBase will establish Pool in HECO, specifically for projects that pass the TrustBase will establish a pool in HECO to provide asset application scenarios for Grant projects.

The main network of cross-chain asset protocol DNFT Protocol is expected to go live in three months]

DNFT Protocol is a new generation of cross-chain NFT protocol based on Polka, which is dedicated to realizing data assets across platforms and is expected to develop into a cross-chain infrastructure in the NFT field in the future. DNFT protocol is the official sponsor of the 9th batch of Web3.0 Foundation and also received official sponsorship from BSC, and won awards in several hackathon competitions. The project team is composed of senior Australians, and has received investments totaling $2 million from several internationally renowned institutions.

Ecological Investment and Financing

Covalent, a blockchain data provider, closed $10 million in funding on CoinList].

On May 10, blockchain data provider Covalent (CQT) closed $10 million in funding through a token public sale on CoinList. covalent said it added more than 14,000 token holders and sold 3.5% of its CQT supply for the CoinList public sale.

[Decentralized Exchange DTrade Closes $6.4 Million Seed Round Led by DeFiance and Others]

According to Cointelegraph, decentralized exchange DTrade announced the closing of a $6.4 million seed round led by Three Arrows Capital and DeFiance, with Polychain Capital, ParaFi Capital, Mechanical Capital Polychain Capital, ParaFi Capital, Mechanical Capital, Bixin Ventures, IOSG Ventures, Hypersphere Ventures, and Fenbushi Capital participated. After completing the financing, DTrade plans to build the first derivatives exchange on Polkadot.

[NFT P2P Auction Platform Polkally Closes $700,000 Financing]

According to CryptoNews, NFT P2P auction platform Polkally closed $700,000 in funding led by ExNetwork Capital, Titans Ventures, Bigcoin Capital and Blocksync Ventures.



[Phala Network, the ecological privacy infrastructure of Polkally, announced a strategic partnership with MathChain]

According to official news, on May 10, Phala Network, the Polka eco-privacy infrastructure, announced a strategic partnership with MathChain, which will enable the DeFi and NFT cross-chain privacy protection transactions and data services of the MathChain eco-system with the technical support of Phala Network. The partnership is expected to solve the dilemma faced by DeFi applications: DeFi users will be able to take advantage of MathChain’s interoperability with Polka’s multiple chains, while Phala Network will provide an effective solution to enable privacy-protected transactions in a scalable, permissionless Polka ecosystem, without fear of data privacy leaks, etc. The Phala Network provides an effective solution to protect the privacy of transactions in a scalable, permissionless boca ecosystem without worrying about data privacy leaks.

NFTMart and Patract enter into a strategic partnership, NFTMart will join Patract Open Platform

The NFTMart public chain is built on the Substrate Runtime layer and will be integrated with the Wasm contract functionality in conjunction with the Patract Labs tool suite. Considering the great potential of NFT market in the future, NFTMart plans to open the contract layer to build a rich NFT application ecology, support a large number of NFT applications for fast access and ensure the stability and reliability of the network. Currently, NFTMart plans to gradually integrate Wasm contract functionality after the main chain goes live, and deploy Wasm contracts by using the Redspot contract development scaffolding tool developed by Patract Labs and the Europa contract simulation sandbox to quickly realize one-stop development, testing, debugging and deployment.

[KIRA Network and Polka Eco Smart Contract Platform Clover Finance Reach Cooperation]

According to official news, cross-chain project KIRA Network announced a strategic partnership with Clover Finance, a polka eco-smart contract platform, aiming to enable liquid, non-custodial crypto asset pledging. By creating a cross-chain asset bridge between KIRA and Clover, any digital assets issued on and accessible through the Clover platform will be able to gain revenue by being pledged on KIRA.

Event Preview

[Polka Community Conference “Polkadot Decoded” will start soon!

Polkadot Decoded is an online polka community conference, arguably the biggest polka event of the year, taking place on May 19 and May 20, with 3 sessions in addition to the main conference. There will be 40 speakers from all over the world with a variety of backgrounds, from official boca to numerous community projects, giving great talks and workshops. we recommend that everyone who cares about boca and boca ecology should come to this event. At that time, Dr. Gavin Wood will also announce the time of Kusama Parallel Chain Auction. Register on the conference website and watch the live stream on May 19 and May 20 in time: https://decoded.polkadot.network/

[Polkadot & Friends, the official Polka party

Polkadot & Friends, the official Polka party, will be coming to Xi’an on May 22nd in the afternoon. Come and talk with Parity, Web3 Foundation, PolkaWorld, Patract, Plasm, Bifrost, Crust, and Darwin team up close and personal to learn about Polka Parallel Chain and its ecological construction! Registration details: http://hdxu.cn/BHqT

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/poka-eco-week-watch-poka-is-about-to-take-off-but-suddenly-encountered-the-general-environment-becomes-cold-where-to-follow/
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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