Wounded Polkadot Ecology still has a fighting chance as regulation hits hard

A 5-minute look at the big events of the week for Poca Ecology.

Source: Polkadot Ecology Institute

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

1Observations and Opinions
A. Heavy domestic regulation to hedge against the good dividends of Poca

We mentioned in last week’s weekly observation: the expected interest rate hike, regulation and tax collection will bring impact on cryptocurrencies, and the dividends brought by Polka Ecology because the slot is online and the ecology starts to develop officially will also be hedged. Although we expected regulation, we just didn’t expect it to be the first domestic move.

First, the Mutual Funds Association and three other departments said that financial payment institutions are not allowed to conduct business related to virtual currencies, and then, the Financial Committee held its 51st meeting to crack down on bitcoin mining and trading practices and resolutely prevent individual risks from being passed on to the social sector. These two pieces of news directly brought about two big drops last week, hedging out the good news from Polkadot Decoded, the biggest conference of the year, which was in line with our judgment.

However, there is no need to worry about the long-term development of cryptocurrencies. The cryptocurrencies will not be wiped out because of a country’s policy, but just bring some adjustments.

What should we see in the future?

Regulation will still have an impact, on the one hand, the introduction of specific domestic regulatory measures (this meeting is to mention a general direction, short of specific measures), on the other hand, there will be corresponding regulation introduced in foreign countries (but foreign countries are much milder mainly in terms of asset transparency, industry supervision and behavior regulation); on the other hand, the expectation of interest rate hike is still the sword of Damocles hanging over the heads of cryptocurrencies. But no matter what, the two big drops this time still eliminated many of the bubbles and risks brought by the last round of cryptocurrency surge, and people will not panic as much as last time when they have expectations later.

But we don’t have to be too discouraged, the country didn’t completely cut this piece to death, after all, Hong Kong did open a mouth that is supporting the license of cryptocurrency exchange and fund, so this time it is suppressing rather than killing. And there are some potentially good possibilities abroad, such as the digital dollar being prepared, and the possibility that the Bitcoin ETF can be launched successfully is greater than in previous years (after all, the cryptocurrency exchange Coinbase has also been listed). Plus, the alpha bonus from the ecological development of Boca itself, so there is no need to be too pessimistic about Boca ecology.

Second, the projects that want to participate in the Kusama slot auction are fist pumping and ready to make a big splash

Last week, several Poca Ecology projects disclosed their bidding strategies to participate in the Kusama slot auction. It is worth noting that the slots on Kusama are only available for a maximum of one year, and for participants in the Kusama Slot Crowd Lending PLO, their locked KSM time will be twice as short as that of Poca (maximum two years), so in terms of capital utilization, participation in the KSM slot auction is still very efficient. If you have a good project, you may want to participate in the auction, so as not to miss the opportunity to get some low-priced chips of quality projects.

Specific participation in the Kusama slot auction what items, we have in another article “about Kusama slot auction you must know 10 things”, a detailed list, you can move to this article to view.

Third, is Boca really a continental play?

Given the poor market last week, many of our friends in the Boca Ecology Institute community began to spread the rumor that Boca is only played by Chinese people and is a mainland standalone coin. Once the domestic policy came out, boca plummeted and couldn’t get up behind it.

In this regard, we said that we do not draw conclusions indiscriminately let’s take the data to speak directly. In a summary article launched by the official Web3 Foundation in January this year, we can see that of all the projects supported by the Web3 Foundation Grant, 18.2% of the teams are in China, 11.6% in the US, 8.8% in Russia, and the rest are in Australia, Japan and Europe. The whole Web3 community is a truly global one.

Wounded Polkadot Ecology still has a fighting chance as regulation hits hard

Moreover, according to the recent 2020 Global Crypto Hedge Fund Report released by PwC and investment firm Elwood Asset Management in collaboration with the Alternative Investment Management Association (AIMA), most of these crypto hedge funds trade BTC at 92%, followed by ETH at 67%, LTC at 34%, LINK at 30%, DOT at 28 percent and AAVE 27 percent; high net worth individuals account for 54 percent of crypto hedge fund investors and family offices account for 30 percent.

These figures show that Boca has a very high level of support abroad, not only in terms of popularity but also in terms of funding. Taking a step back, for the now hot ethereum ecology, these developers who got started through ethereum, they can naturally feel the greatness of ethereum, would they not care about the new blockchain project Poca made by Gavin Wood, the technical god who implemented ethereum in technology?

So, the period belonging to Poca is only slowly starting, and the show is still long, so be patient.

2 official news of Boka
[Kusama has deployed parallel chain Shell].

On May 18, Kusama tweeted early in the morning to announce that it has successfully deployed the parallel chain Shell, and will upgrade the Shell to Statemine by voting 24 hours after deploying the Shell, and then start the parallel chain slot auction.

[Gavin Wood: Kusama parallel chain is expected to go live next Monday

According to official news, on May 20, Gavin Wood, the founder of Polka, said at the Polka Community Conference that Kusama parallel chain is expected to go live next Monday. The team will release version 0.9.2 today or tomorrow to fix some Shell parallel chain bugs, wait for Shell to run stable for 24 hours without problems, then upgrade Shell to Statemine and launch Statemine later in the week. If Statemine runs OK, then we will run 5 auctions on Kusama first. Polkadot will go live when we are sure Kusama can run a few parallel chains consistently.

Polka released the launch schedule of parallel chains and announced three new features such as Parathreads]

According to the official news, the launch of Polka Parallel Chain is expected to happen after two events: firstly, a full external audit should be conducted for all new logic. Second, Kusama’s Canary network should prove that the new logic is viable by executing at least one successful auction involving crowdsourced loans and hosting at least one functional parallel chain. The audit in question has already started and will be completed in three steps in the coming days.

  1. first, the Shell parallel chain will be deployed, which was just approved by a governance vote today. the Shell parallel chain is an “empty” chain – it generates blocks, but has no functionality other than being scalable. It simply listens for messages from the relay chain governance body authorizing upgrades, and when such messages are received, the Shell parallel chain will allow itself to be upgraded to any new logic authorized by the relay chain, identified as 1000 (the first system parallel chain is identified as 0).
  2. Governance will vote to upgrade the Shell parallel chain to a Statemine chain.
  3. The auction will start when it is proven that the parallel chain with transactions and consensus has a highly decentralized 900 validators on the Kusama network. the majority of the KSM pool is currently locked in the Kusama fixed system, and the move requires bringing up a seven-day notice. Therefore the Kusama website will announce the start date of the first auction a week in advance, as well as the expected schedule for future auctions.

The network currently expects to conduct five auctions, one every seven days. Over the next two months, efforts will focus on reliability, refactoring and performance. Currently, transaction volumes are intentionally limited to conservative limits to minimize the potential for any systemic issues due to the current unoptimized implementation. The network now allows only 500 milliseconds compared to executing approximately 2,000 milliseconds of transactions within each block, thereby reducing valid transactions by more than 75%. As the code becomes faster, these limits will be lifted and the volume of transactions will grow toward the theoretical limits.

After this period of instability, Polkadot will introduce three new features: Parathreads (pay-as-you-go parallel chains), Off-chain XCMP (off-chain cross-message passing), and Spree (securely protected runtime execution regions).

[Polkadot version 0.9.2 is officially released, and the official recommendation is for all nodes to upgrade as soon as possible]

Polkadot version 0.9.2 is now officially released. Officials say this version has high upgrade priority and is crucial for parallel chain launch, and suggest nodes to upgrade as soon as possible.

Polka Community Conference “Polkadot Decoded” Held Successfully]

Polkadot Decoded, the online polka community conference, arguably the biggest polka event of the year, was held successfully on May 19 and May 20. Dr. Gavin Wood also shared the specific arrangements for the Kusama parallel chain auction.

[Polkaworld Weekly: Polkadot 0.9.2 has been released Waiting for parallel chain Shell upgrade to Statemine]

According to Polkaworld’s Polkadot Weekly Report, Polkadot 0.9.2 has been released, waiting for the parallel chain Shell to be upgraded to Statemine.

1.Polkadot treasury just destroyed 147,042 DOTs today, there are still 14.61 million DOTs waiting for people to apply.

  1. Shell Parallel Chain is running on Kusama network.
  2. Kusama Referendum No. 108 (force restoration of an account) was not passed.
  3. Encounter is a unique identity system that is applying to become a Kusama public interest chain.
  4. Kusama Council has passed and implemented Motion 295, which removes the slash penalty for 115 authenticators due to CPU spikes that resulted in not allowing imOnline messages to be sent during the 9010 Runtime upgrade.
  5. Kusama directors are voting 297 motion to fund the integration of Kusama into the Klever wallet.
  6. Kusama treasury currently has 345,211 KSM and 690.42 KSM will be destroyed after one day.

3 Ecological Big News
[Fintech Company Current to Integrate Acala, a DeFi Platform Based on Polkadot]

Fintech firm Current said Tuesday it will integrate Acala, a Polkadot-based decentralized finance (DeFi) platform, into its core banking product, according to CoinDesk. This is the first step in rolling out an in-app DeFi tool for Current’s 3 million users, Chief Technology Officer Trevor Marshall said in an interview.

[NFTMart will open IDO and IEO simultaneously on May 24]

NFTMart, the decentralized exchange of the Poca ecosystem, announced that its main chain token NMT will go live on Gate Startup on May 24 at 12:00 Singapore time, and on Bounce’s Certified Sales at 22:00 Singapore time, and on Uniswap at 16:00 Singapore time on May 25. Community users can join the community and participate in the event to get whitelist qualification. The current issue of NMT is based on Ether, with an initial issue of 100 million pieces and a total of 8.65 million pieces in circulation. After the NFTMart mainnet goes online, it will be gradually transferred to the mainnet. NMT, as the main chain token of NFTMart, can be used to pay transaction fees, purchase NFT works, pay transaction taxes, participate in governance voting, NPOS Staking and many other uses.

[Apron Network will focus on participating in the Kusama slot auction

Apron Network said that it will put out 8% of token for slot bidding. In order to provide infrastructure services for boca ecology as early as possible, Apron plans to focus on participating in Kusama slot auction, meanwhile, in order to provide greater incentive for community contributors to support Apron for slot bidding, Apron will adopt single coin model and will use APN for incentive. Apron Network said: “Kusama has a stronger certainty than polkadot, and if Kusama develops well in the future, it can replace polka to a large extent, but of course, Apron is also well prepared for the uncertainty. If there is a big gap between Kusama’s future development and Polkadot’s or if Polkadot’s development is very good, Apron will certainly bid for Polkadot’s slot.

[Polkadot cross-chain DEX protocol Zenlink announced the establishment of ZenlinkDAO]

It’s official, the polka cross-chain DEX protocol Zenlink has announced the formation of ZenlinkDAO. The Zenlink Foundation will serve as the first initial governing member of ZenlinkDAO, and the remaining initial governing members will be made up of key community members, strategic partners, and investors committed to building Zenlink. The committee will guide the evolution of ZenlinkDAO into a fully decentralized organization, Zenlink is a cross-chain DEX protocol based on Polkadot that aims to create a Web 3.0 universal decentralized transaction network.

[NFTMart Helps Public Welfare, Supports Autism Children’s Relief Fund on the Chain

Recently, NFTMart, the NFT trading platform of Boca Ecology, announced that it will provide platform, operation cost and platform subsidy for the Autism Children’s Relief Fund to help the “Starlight Yicai” project works under the fund to be on the chain. Through blockchain technology, autistic artworks will be converted into NFT works, allowing more people around the world to understand autistic art in China and giving equal treatment to autistic art authors. At the same time, through art auction, and royalty donations, the charity is made more sustainable, dynamic, and easy to participate. The Autism Children’s Relief Fund is a special charity fund under the China Social Welfare Foundation. With the public foundation of China Social Welfare Foundation as the platform, it unites the social forces to help children unfortunately suffering from autism and their families, giving relief financially and warm care spiritually, continuously exploring autism treatment methods and means to bring hope to the children’s lives and enable them to live with dignity.

[NFTMart announced a strategic cooperation with A/C STUDIO

NFTMart, Poca’s ecological NFT trading platform, announced a strategic partnership with A/C STUDIO, a professional NFT works agency. The two parties will work together to discover and promote quality artworks on the chain, help outstanding artists understand and use the blockchain, and win the cutting-edge art market. A/C STUDIO is an emerging art curation studio, the studio always pays attention to the art market trends triggered by the advancement of Internet technology, to create the NFT of artists’ works, and help the art market develop a new cutting-edge ecology. The team members have rich experience in the field and are involved in promoting the operation of the art brand JU Office. The projects involve film, music, art and other cultural fields, and have extensive cooperation with domestic and international art institutions, music labels, major international film festivals and international art festivals.

【The “Kan Kan NFT” live program held by Entropy Miao Technology and technically supported by UniArts, a Boca Ecology project, was successfully held】.

The first live program of “Kan Kan NFT”, with the theme of “National Tide Collides with NFT”, was successfully held by Entropy Miao Technology with technical support from UniArts, a Poca ecological NFT project. The program premiered with 50,000+ comments and 400,000+ likes. It is reported that Shanghai Creative Industries Association (hereinafter referred to as “Shanghai Cultural and Creative IP Industry Center”) announced its entry into the NFT field and signed an agreement with UniArts Network ecological partner Entropy Miao Technology to provide the latter with NFT digital asset development and sales services based on its artwork and cultural and creative IP product resources. The agreement will provide the latter with NFT digital asset development and sales services based on its art and creative IP product resources.

Pre-registration for Karura’s crowdfunding campaign on Acala First.com is officially open]

The Karura crowdfunding campaign is just a few days away, and backers will be able to lock in their KSMs to help Karura win the parallel chain auction. Karura is the pioneering network of Acala, a financial center on Kusama, the world’s first decentralized open financial consortium and Polkadot Eco-Financial Center, which aims to unite the Polkadot ecosystem to create an open financial framework to bring financial stability, liquidity and accessibility to global crypto assets.

DeBio Network Announces Migration to Substrate and Access to Octopus Test Network

Recently, DeBio Network (debio.network) announced its migration from ethereum to Substrate, a startup that uses blockchain technology for genetic testing, and whose Degenics app won the Best App in the IPFS category at ETHDenver last February and the UN Sustainable Development Goals Champion. To achieve an optimal user experience, the DeBio team has rebuilt the application chain based on Substrate in the past few months and successfully connected it to the Octopus test network, a multi-chain network of the Near (near.org) ecosystem that provides flexible on-demand lease security, out-of-the-box cross-chain interoperability, and infrastructure for application chains. services.

SubGame passed the second phase of Web3 Foundation Grant milestone technology development

According to the official GitHub information, SubGame has completed the first phase of Web3 Foundation Grant funding and passed the second phase of application review. The Web3 Foundation Grant provides financial, technical and ecological support for SubGame, and it will continue to submit technical updates and expand ecological construction.

SubGame is a parallel chain of game and payment module engines for many developers around the world to participate in the construction of the polka ecology, SubGame is the first polka ecology project in Taiwan and has been supported by the Web3 Foundation Grant. SubGame’s module engine provides the easiest and fastest development environment for poka eco developers. It can greatly increase the development speed and reduce the development cost! The SubGame module engine is released to provide a fast and easy development environment for boca developers.

Plasm released Shiden’s Kusama Auction Strategy

Shiden Network is a multi-chain decentralized application layer on top of Kusama Network, the Kusama relay chain is not designed to support smart contract functionality, but Kusama Network requires a smart contract layer. This is where the Shiden Network comes in, and Shiden has supported Ethernet VMs, WebAssembly and Layer2 solutions from the beginning. The platform supports various applications such as DeFi, NFT, etc. Shiden is a community-driven project, with a total of 65% of the official tokens distributed for community members.

Edgeware to launch Kusama Parallel Chain Hedgeware]

On May 18, Edgeware, a Poca eco-blockchain project, announced that it will launch Kusama Parallel Chain Hedgeware through a crowdfunding and parallel chain auction. Hedgeware complements Edgeware and has the following purposes: it will support the process of experimenting with parallel chain binding, inter-chain messaging, and building multi-chain Polkadot applications; can serve as a canary network for Edgeware runtime upgrades, identifying issues that may not be easily demonstrated in the test network; and serves as a bridge to allow Edgeware to access earlier Polkadot technologies immediately after Kusama goes live. In addition, Edgeware has announced the design of the token economics for the Hedgeware native token, HEDG, of which: 50% is allocated to Edgeware holders with a snapshot date of May 1 at 00:00 UTC; 20% to Kusama crowdfunding loan and parallel chain auction participants; and 10% to incentivize additional participation in the EDG community (allocated in a manner similar to the DOT reserved for KSM); 20% to core developers, including Commonwealth Labs and future developers.

[Centrifuge Protocol to Launch Parallel Chain Altair at Kusama]

Centrifuge, a protocol designed to connect DeFi to the real world, announced that it will launch Altair, a parallel chain powered by AIR tokens, on the Poca First network Kusama, according to official news. 61% of AIR tokens will be allocated to CFG token holders, and at a ratio of 1 AIR:1 CFG, the token circulation will be 425 million at launch.

[Clover Finance, a Poka smart contract platform, will launch Kusama parallel chain Sakura]

According to the official news, Polka smart contract platform Clover Finance (CLV) will launch Sakura, a Kusama parallel chain, which Clover Finance says is a candidate Substrate-based parallel chain built specifically for the cross-chain DeFi ecosystem on Kusama, and will exist as a sister network to Clover Finance’s sister network exists and will eventually become the parallel chain operating system for the storage layer, smart contract layer, DeFi protocol layer and DApp layer built on top of Kusama. the plan after Sakura is for crowdsourced lending, parallel chain auctions, Sakura distribution and SKU unlocking. Upon launch, 28% of SKUs will be unlocked for immediate use of the Sakura platform by crowdfunding participants, and the remaining 72% of supply will be unlocked in a linear 12-month period. Regarding the Sakura token SKU token economic model, 10% will be allocated to the team, 10% to early backers, 12% to the foundation, 35% to eco-incentives and future parallel chains, and 20% to first-year parallel chain community participants.

[Smart contract platform Moonbeam released Kusama parallel chain Moonriver slot bidding strategy

According to the official news, the smart contract platform Moonbeam released the bidding strategy for Moonriver slot of Kusama parallel chain.Moonriver will use crowdfunding to participate in the bidding, and 30% (3,000,000) of the total amount of Moonriver network tokens MOVR will be allocated to the users of the crowdfunding. If the parallel chain is successfully deployed, 30% of the reward will be directly distributed on-chain, and the remaining 70% will be released in 48 weeks.

4 Ecological Investment and Financing
[SubDAO completed a new round of financing with the participation of dozens of investment institutions and individuals such as Ryan, an early member of DCG Group, and Suji, founder of Mask]

According to the official news, SubDAO officially completed a new round of financing, this round of financing by Hypersphere, Huobi Ventures, OKEx Blockdream Ventures, CMS Holdings, Signum Capital, NGC Ventures, SevenX Ventures, Digital Finance Group (DFG), Spark Digital Capital, LD Capital, Digital Renaissance Foundation, Kernel Ventures, Dealean Capital, and Divergence Capital. Dealean Capital, Divergence Ventures, Bixin Ventures, Kenetic Capital, AU21 Capital, Illusionist Group, and dozens of others, as well as members of DCG Group’s early team and former Chief Growth Officer and SubDAO is a Poca DAO infrastructure with a founding team consisting of former Technical Team Leaders from IBM Group and a number of well-known early developers from Poca, with past experience including IBM, Tencent, Alibaba and other Internet companies. Tencent, Alibaba and other Internet companies. In addition, Jack Platts, former Director of External Partnerships at Web3 Foundation and Partner at Hypersphere Ventures, is a strategic contributor to SubDAO. The SubDAO team will actively participate in the parallel chain bidding, and the specific bidding plan will be announced soon.

Bit.Country Raises $4 Million Seed Round

According to PolkaWorld, a Polka China community, Bit.Country has raised a $4 million seed round led by Hypersphere Ventures, a Polka Polkadot ecosystem fund, and Digital Financial Group (DFG), a crypto investment firm.

[Crowdfunding and Governance Aggregator Common Protocol Closes $3.2 Million in Funding]

According to CoinDesk on May 19, Common Protocol, a crowdfunding and governance aggregator incubated by Commonwealth Labs, the development team of Polka EcoProject Edgeware, announced the closing of a $3.2 million round of funding led by Dragonfly Capital and Parafi Capital. Common Protocol will use the funding to expand its staff to accelerate product and protocol development. On the Common Protocol platform, a discussion board will be set up for each project’s community and will support on-chain functional queries, including support for key token holder (giant whale) queries, governance, and crowdfunding campaigns for new tokens and community events. In addition, Common Protocol is building a multi-chain community platform that will integrate projects compatible with EVM, Substrate or Cosmos, including Aave, Opyn, Terra and others.

[Unique Network, the NFT public chain of Polka Eco, closes $4.3M funding round, led by Outlier Ventures]

Unique Network, the next generation NFT chain for the Polkadot and Kusama ecosystems, announced today that it raised $4.3 million in its first round of funding led by Web3 investment pioneer Outlier Ventures, according to official sources. animoca Brands, DFG and other institutions also joined the investors. The investment will enable Unique Network to develop and grow its community, eventually launching Unique parallel chains in Polkadot and Kusama, and spur economic growth by making the base modules open source, including a license-free trading marketplace that allows anyone to create NFTs in them.

5 Event Preview
[Registration Open for the 2nd Summer Polkadot Hackathon

The Polkadot Hackathon is a hackathon for developers in the Polka ecosystem, co-hosted by Parity and the OneBlock+ community. 100+ developers will be recruited to combine their theoretical knowledge of the Substrate-based framework with real-world development on July 17-18 in Hangzhou, China. The winner of the competition will be rewarded with a prize. The winning team will receive a generous prize and technical and resource support, and become a member of the Poca ecosystem in a real sense.

Registration address.

https://shimo.im/forms/gphHCQHpkXYcwKGP/fill (Graphite registration and login required to view details)

[Acala offline party is about to open! Founders gather to get the latest news on Karura bidding]

This Friday, May 28th, Acala will hold an offline meetup in Shanghai to bring you an all-round understanding of Acala and Karura and Karura’s auction details, as well as a demonstration of Acala & Karura’s platform operation process. If you want to learn more about Acala and support Karura to become the first parallel chain project on Kusama, you can join this event!

Topic: Acala & Karura – DeFi Center of Polkadot & Kusama

Event Time: May 28th, 2021, 14:00 – 17:00 pm

Venue: LAUNCH BAY Roadshow Hall, 1st Floor, Building 16, Technology Oasis III, No. 1036 Tianlin Road, Minhang District

Thanks to PolkaWorld and Blockchain Rider, the first community of Polka Chinese, for supporting this article.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/wounded-polkadot-ecology-still-has-a-fighting-chance-as-regulation-hits-hard/
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.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-05-24 23:45
Next 2021-05-25 00:00

Related articles