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Polkadex’s Crowdloan Campaign Raises 973,324 DOTs ($13.8M) to Secure the 16th Polkadot Parachain Slot

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Tortola, British Virgin Islands–(Newsfile Corp. – May 9, 2022) – Polkadex, the revolutionary Substrate-based decentralized order-book exchange, has won the 16th Polkadot parachain slot auction, achieving the milestone on May 6 with 973,324 DOTs ($13.8M worth) from more than 6000 contributors within its community. Polkadex is also the first Parachain auction to cross 90% of its target cap of $1M and the largest Crowdloan in Batch 3.

Polkadex Winning Parachain #16

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Polkadex is a peer-to-peer order-book based exchange for Web3 built on Substrate that aims to combine the safe and non-custodial format typical of DEXs, with the advanced trading features and accessible and user-friendly structure customary of CEXs. Winning the 16th Polkadot parachain slot was an important goal for Polkadex, enabling it to become interoperable with other Polkadot parachain projects all while sharing the security of the Polkadot blockchain.

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By obtaining a parachain slot, Polkadex moves much closer to fulfilling its mission of becoming the trading engine for DeFi and Web3. The Polkadex parachain will enable Polkadex Orderbook and Polkadex’s whole slate of products to support Polkadot-native assets from all other parachains, and give the Polkadot ecosystem access to its first cross-chain, non-custodial order book-based exchange with high-frequency trading.

“Thanks to the Polkadex parachain we will be able to bridge assets with the Dotsama ecosystem and now users will be able to trade Polkadot ecosystem tokens from across the whole spectrum of parachains,” said Polkadex COO Deepansh Singh. “This is a first for Polkadot and a first for DeFi as a whole.”

Polkadex’s crowdloan campaign for the batch 3 of the parachain auctions offered strong incentives for its community members. By establishing an auction cap of 1 million DOT tokens with a rewards pool of 2 million PDEX (10% of the total supply), contributors were guaranteed at least 2 PDEX tokens for each DOT token they contributed to the campaign.

PDEX, Polkadex’s native utility token, provides substantial utility; allowing holders to receive discounts on transaction and trading fees, participate in on-chain governance and take part in PolkaIDO investment rounds. In addition, PDEX holders can stake their tokens to become network validators, helping to secure the Polkadex Network in exchange for rewards. Alternatively, PDEX holders can also nominate validators and collators to earn a share of their rewards. They also have the option to stake PDEX in Thea Protocol and earn additional rewards for enabling deposits and withdrawals on Polkadex Orderbook.

As well as the PDEX incentives, Polkadex will give the top 1,000 Crowdloan contributors an exclusive utility-based NFT that will enable discounted trading fees on the Polkadex Orderbook once it goes live on Polkadex.

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Throughout the Crowdloan campaign, Polkadex partnered with a number of Polkadot DeFi platforms, including Parallel Finance and Equilibrium, and centralized exchanges like KuCoin and Kraken, in order to give its community more opportunities to participate and more rewards for doing so.

“We’re extremely proud of the way the Polkadex community led the charge during the Crowdloan campaign, especially during the week of the auction,” said Dagmara Handzlik, Head of Marketing at Polkadex. “Polkadex is proof of how important a strong community is to the overall success of a project and we could not be more excited to deliver the products we have been building with the eager support of Polkadexers.”

About Polkadex

Polkadex is a fully decentralized, peer-to-peer orderbook-based cryptocurrency exchange for the DeFi ecosystem built on Substrate. The main idea behind Polkadex is to create a platform that combines the benefits of centralized and decentralized exchanges into one cutting-edge solution that caters to all crypto traders.

Contact:
Dagmara
[email protected]
Twitter: @DagaCMO

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123175

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Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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