Blockchain
Polkadex Joins Second Round of Parachain Auctions with Community Crowdloan
Tortola, British Virgin Islands–(Newsfile Corp. – January 21, 2022) – Polkadex Inc., the DeFi order-book exchange built on Substrate, has announced its parachain bid, aiming to join the second round of parachains set for launch in March.
To win a slot in the auctions, Polkadex has launched its own Crowdloan: allowing users to borrow DOT from the community to bid in the automated parachain auctions. To reward contributions, Polkadex is distributing 10% of the total PDEX supply, equal to 2 million tokens.
25% of the PDEX obtained in the Crowdloan is already following the unlocking of the post-parachain launch, while the rest will be distributed in a 96 week (about 22 months) linear vesting schedule. The PDEX token holds a number of utility functions in the Polkadex network, and is primarily used as the network fee token for the exchange. Additionally, PDEX holders will have governance control over the parachain and exclusive access to Polkadex IDOs, fee-less Polkapool swaps, and other initiatives. PDEX mainnet and the token is already live and tradable, which is an added benefit over many other parachains who will first need to go through a token launch phase. PDEX Crowdloan participants will thus be able to put their PDEX rewards to use as soon as they get their hands on them.
Polkadex Crowdloan
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To participate in the Crowdloan, contributors have a number of options. The primary way is to use the Polkadot.js wallet to make an on-chain contribution through the Polkadot.js interface which offers an easy-to-use dashboard for placing funds in the Crowdloan in a completely decentralized way. Alternatively, Polkadex has partnered with Parallel Finance, Bifrost and Equilibrium to offer liquid Crowdloans. With this method, users can maintain access to their locked DOTs through a staking derivative, while earning additional rewards paid out in the respective platforms’ tokens. Additional information is available on the Polkadex blog.
Polkadex is a peer-to-peer and order-book based exchange for DeFi built on Substrate that aims to combine the safe and non-custodial format typical of DEXs, with the accessible and user-friendly structure proper of CEXs.
In order to accomplish this objective, Polkadex combines AMM pools with order-books, governed by on-chain bots that work to avoid price slippage issues. Moreover, to create a performant and slim exchange, only the functions that require verification are built on-chain on Polkadex, while features like market data aggregation and storage happen off-chain.
“After building on Substrate for over a year, we’re in a prime position to join the Polkadot ecosystem directly as a parachain, so we’re really excited to begin our Crowdloan,” said Vivek Prasannan, Executive Director and co-founder at Polkadex. “We aim to become the largest order book exchange for Polkadot, supporting cross-chain liquidity from other parachain projects and beyond”.
To find out more about PolkadexCrowdloan rules and terms, please visit the official PolkadexCrowdloan website.
About Polkadex
Polkadex is a non-custodial, peer-to-peer trading platform that combines the benefits of CEXs and DEXs into one. Built on Substrate, Polkadex’s range of fully decentralized tools provides the liquidity of order books with the convenience and security of a decentralized exchange.
Contact:
Dagmara
Head of Marketing
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111101
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
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Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
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This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
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Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
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Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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