Polkadot's 1st slot machine auction has ended. What plays the role of the 5 parachaines?

the story

When we return to the Polkadot Parachain, it is the end of the first Parachain race. this. I've been waiting for this for too long, and Polkadot is still waiting for it.

So far, it's Acala, Moonbeam, Astar, Parallel, and Clover who have formed the first Parachain group to stand on the stage in history. The next retailer broke the TVL surge market, and Polkadot's injustice is a disgrace.

But now we finally see the result of more gaming. Finally, the core features like Smart Compact, Dapp app, and DeFi are starting to install quickly. As long as the parachain works well, Polkadot is no exception. . "Empty Chain" is the real "Cross-Chain Hub", this situation seems to be the case now.

Now, we can finally consider the impact of Parachain on the online marketplace from a divine perspective, and how 5 Parachain's work will strengthen the Polkadot ecosystem. This may be what we are thinking or evaluating now.

Back to the first Polkadot tournament

Think about the audience

Compared with the participation in the Kusama tournament, the number of participants in the Polkadot game is much higher. The first four projects have also been completed in the competition for parachain slots in Kusama, compared to the two projects, it is clear that the number of participants in the parachain Polkadot slot auction has doubled. the data can also support our conclusions.

One of the reasons why people often regard the Kusama ecological project as an experiment and ignore it or ignore its value.

The second is that the Parachain projects with secure locations in Kusama have already been launched one after the other, open to change and still open for business, and the project party brought many benefits to the participants with Crowdloan. Ahead of the beneficial results of the Kusama Green Project, the Polkadot Parachain Slots Auction will attract more participants.

Third, the chip split between Polkadot and Kusama is different, with Kusama mostly airdrops from early investors, while Polkadot has seen public expansion and Polkadot himself has more approval than Pioneer's Kusama. several broken crack.

look at the number of matches

A total of 99,113,200 DOT participated in the competition in the top 5 places, or 8.6% of the total of 1.146 billion. Currently, Polkadot Staking's share is 63.8%, so the DOT share rate is 27.6%.

However, Polkadot is now slightly different from Kusama and cannot be considered an earlier concept "Circulation: Slot Locking: Staking Locking = 17: 33: 50". Since Kusama's highest staking rate is 50%, Polkadot has yet to launch Parachain, so currently the highest staking rate is set at 75%.

End results and outlook vary

The result is a preview of Kusama's offering with the Polkadot Eco-Friendly Slots Auction. There are a lot of similarities, but also some peculiarities.

The similarity is that it was predicted in advance that the competition for slots at the start would be very strong, and that there would be situations where the first and last open would take place. The difference is that some parts of the project still clearly know this and avoid the advantage and choose to participate directly in the 6th Parachain slots competition or hold the top 5 places without participating in the first draft in the Kusama project. So there are a lot of differences between what goes into the race and Kusama's first 5 holes.

The same participants continue to refine their ideas, as Moonbeam succeeds Kusama's Moonriver, many participants join Moonbeam, making the Moonbeam project the top 5 of the DOT and especially of its supporters. It is well ahead of other activities. This once again highlights the advantages of the Xianxian route from Kusama.

However, according to current data, some people believe that the percentage of the first 5 openings of Polkadot is less than 9%, and the amount of DOT assistance coming from the next job is still very small, so more than 5 or more than 1 million, then Polkadot of 33% of the previous set up a closed volume. difficult to reach.

So how should we look at this situation?

First, although Kusama has started to normalize auctions, a total of 48 locations will be auctioned over a one-year cycle, but Polkadot has yet to announce its intention to normalize auctions. As a result, Polkadot's current slot count is still low, and its insufficiency has led to pressure on operations to get slots as early as possible, increasing the demand for DOT.

Second, in the case of Kusama, much of the work in the second group was more sustained than in the first, and most jobs were not affected when the niches of the first group were opened up to competition. Most of these companies have not yet participated in the Polkadot Parachain Slots Auction.

Finally, we know once again that Polkadot is still in its infancy. Although Polkadot has supported hundreds of development teams, whether through funding or funding, this is a huge project that can connect and connect to a larger network. . No more peas. Looking back, if Polkadot really opened 48 parachain slots like Kusama and held auctions every two years, there would be a real opportunity as the Polkadot ecosystem is not yet complete and the number of slots is still there. Tonnes and tonnes. , hence the rarity of the ridge.

However, the logic of multi-cycle ecosystems has been slowly evaluated, and for the management of DeFi, the percentage of Ethereum's DeFi volume has dropped from over 90% in the past to 65% today, and with Challenge. , NFT and DAO., String sets and many other contract application knowledge, so that the history of many chains will be analyzed in more detail in the market, and Polkadot will release the channel soon, connect this channel to Polkadot and enjoy everything. With the many advantages of Polkadot's ecological cross-chain and scalability, we believe that rearing many parachaines will not be far from us.

How will this affect Polkadot after Parachain goes live?

I have already mentioned that Polkadot ecology is divided into industrial ecology and industrial ecology. The economics of the Polkadot ecosystem is collectively referred to as industry in ecology, and the industry is connected to the ecology of Polkadot by a bridge through the collective industry referred to as ecology. The launch of Parachain means that Polkadot can, at the very least, start a business in its ecology.

The first multi-deployment of the Polkadot ecological project to secure Parachain slots will be a platform that supports smart contracts and can host multiple DeFi and DApps. Concretely, many of these projects have already received slots in Kusama, are connected to the Kusama relay chain, and were launched before green construction. This configuration took several months on the project side to access niches, relay chains and the submission of applications.

Fortunately, every professional network in Kusama is not much different from the main network in Polkadot. Experience, this time you will get used to it and it will be faster.

For the Parachain experience everywhere in Kusama, this means that once connected to Polkadot, ecological development can begin quickly, which is an important point from Polkadot to Kusama.

However, the current Polkadot is not yet complete. First, the Polkadot chain link has yet to be released and the Polkadot isomorphic cross chain is still the final link, second, the XCM version is frequently changed and has not yet completed the plan chain link parachain. The bridge is not yet known and the non-ecological activities of Polkadot are not yet considered. There are also many other important features like the above parachain, and features like SPREE and BEEFY are still in the works.

Thus, Polkadot is more difficult than other public channels, than to compare Polkadot to channels more familiar with existing channels, consider that Polkadot is an early project. more appropriate.

Show 5 ways to get Polkadot Slots

Akala

As a one-stop-shop Polkadot DeFi hub, Acala provides a set of out-of-the-box DeFi core modules that allow developers to build terminal processes around a decentralized core budget. AUSD, DEX, and staking derivatives in chain. by the user.

Acala is committed to developing and implementing truly profitable financial applications, providing low financial security and capabilities for the new global Web3 industry to create an open and forward-looking environment.

As the DeFi hub of the Polkadot ecosystem, Acala allows users to access a wide range of services including contracts, exchanges, loans and deposits. Acala's pioneer network, Karura, is also the first project to acquire the lending rights for Kusama Parachain slots.

After winning the platform chain's slots auction, Acala officially joined the relay chain on December 18. At the same time, Acala attended the first Polkadot Global Conference and participated in the Berkeley Blockchain Xcelerator 2021 Demo Day, Alumni Showcase & Career Fair to discuss the development of DeFi and DAO.

In addition, he collaborated on several similar projects such as OriginTrail, a global provider, and SubQuery, data aggregation, and developed NFT in collaboration with cryptographic algorithm artist Reva. Then, Acala will gradually complete the industrial development phase in four phases: crowd construction and block construction, POA administration, governing body and national administration.

Acala's successful partnership provides Polkadot with significant support. As the Ethereum-enabled project focuses on running DeFi, Acala will allow anyone to pre-enjoy Web3.0 DeFi pay-per-view with rich commercial products. Acala is like a water pump, making the assets of the Polkadot ecosystem fluid and active.

Moon Beam

Moonbeam is Polkadot's Ethereum advertised smart contract platform whose vision is to integrate multiple channels. Moonbeam works as a smart contract for the Polkadot ecosystem by providing the front-end with Solidity smart contracts and DApps.

By providing Polkadot developers with simple and easy-to-use designs, they can sell Ethereum application ecology to Polkadot ecology and enjoy a secure, collaborative and collaborative environment.

Moonbeam's Xianxing Network acquired the lease of the second Parachain company from Kusama and quickly developed into an Ethereum-based integrated smart contract platform based on the Substrate framework.

Moonbeam follows the initialization of the Moonriver process and reduces the existing 5 steps to 3 steps and adds new features to ensure network security. The full upgrade plan will be completed in January 2022, pre-GLMR functionality will be operational after the shutdown.

At the same time, Moonbeam has cooperated with many good companies such as SushiSwap, Zenlink, Chainlink, dTrade, Lido, etc. to ensure that Moonbeam has its place in expanding its business.

For Polkadot, Moonbeam integrates many well-known Ethereum protocols by leveraging the unique capabilities of the Polkadot ecosystem and delivering environmentally friendly applications.

Moonbeam organically integrates Ethereum Ecosystem Capital Shanghai and Polkadot, laying the foundation for interconnection repeatedly, allowing the Ethereum app to easily reshape the Polkadot ecosystem and provide key processes for the development of the Polkadot ecosystem.

lining

Astar Network is one of the early advocates of Polkadot ecology technology, called Plasm Network, and aims to become Polkadot's multi-channel DApp site. It supports EVM, WebAssembly and Layer2 solutions and provides the necessary smart contracts. Characteristics of the Polkadot ecosystem.

Astar Network has received over 5 grants from the Web3 Foundation and has completed the deployment of Layer 2 and Ethereum virtual machines. At the same time, Astar Network's pioneer, Shiden, won the third Parachain lease right at the Kusama rally, providing Kusama with several decentralized application chains.

Astar will support talented and versatile manufacturers after securing the right to rent Polkadot Parachain slots. At the same time, the Astar ecosystem has grown rapidly and developed industrial applications including synthetic materials, more stable DEX chain, games and the NFT industry.

As a Polkadot ecosystem based on an enhanced performance smart parachain, Astar supports multiple ecosystems such as Ethereum, BSC and Avalanche. By integrating Moonbeam into Ethereum's ground applications in the Polkadot ecosystem, Astar has developed multiple chains and multiple virtual machine DApp sites to complement intelligent contract communications.

Astar Network's Wasm support, Layer 2 integration, and DApps integration into the industry model are all ongoing and cannot be ignored in the Polkadot ecosystem.

parallel

Parallel Finance is a commercial enterprise that provides lending, wagering and lending products to the Polkadot ecosystem and has greater potential for the Polkadot ecosystem. Depositors can borrow money and enter into contracts at the same time to get double the interest rate, and mortgages can lend the money.

Once Parallel receives the card slot, our focus will be on Parallel Mainnet release and product development. On December 10, we announced the announcement of Auction Loans, the first DOT-licensed free equity loan product, providing consumers with the best products and gifts for their fundraising.

Mortgages are just the first step in the Parallel DeFi Parachain mission. Parallel Finance is committed to transforming Polkadot's DeFi ecosystem and garnering broad community support. A new monetary environment that Parallel has already completed allows us to complete our game and team expansion, complete our mainnet launch, and launch our products in a few months.

Parallel will be used to expand its team twice over the next 6-12 months, perform security audits, and establish Parallel Financ as a high-end DeFi parachain on the Polkadot network and multi-chain ecosystem.

Parallel's ultimate vision is to create the most secure, easy-to-use platform for anyone with access to financial services. New business products such as competitive market, loans and AMM can bring unprecedented business opportunities and investment capital to the ecosystems of Polkadot and Kusama.

Clover

Clover Financial is a smart contract-based substrate that leverages EVM-based consolidation and is committed to providing an easy-to-use blockchain infrastructure to reduce developer hassle and costs. Make DeFi easier for users to use. Clover Finance supports both EVM and Wasm to provide a secure and fast platform.

Now, Clover has advertised itself through wallet and browser, and has taken the first step in the Clover Ecosystem Recovery Plan, which aims to promote adoption of multiple wallets by working with multiple dApps through multiple channels. The campaign covers NFT and other disciplines in DeFi, GameFi, Web3.

Clover is committed to being the biggest link in the Polkadot ecosystem, and hopes to connect with the DeFi field and the Polkadot ecosystem and establish greater connectivity in the future with all stakeholders that can be measured with developers and planners. .

P.s.

Most of the ideas are still under consideration while Dr. Gavin wrote about the Parachain Architecture of Polkadot 4 years ago, but a few years ago we saw the success of the Substrate framework and the publication of the Polkadot main network. Now Parachain is just getting started. Not all of the steps are easy and there are a lot of issues, but there is now less than 24 hours until Parachain opens (think early in the morning of the 18th).

Then we'll see Parachain start his second run, and upcoming tournaments like Kusama will gradually normalize as well. Then comes the richness of the Polkadot Parachain ecosystem and the beginnings of several ecological groups. Although not much time this year and next year. will be more It will be a happy year and I am still looking forward to it.

In the past, people lost interest in chain interconnection, but the advancement of the use of technology will not be limited by market thinking, we also look forward to the integration of chains and the new development that Web3.0 will bring. 5 Enter the link chain where the link chain begins to ring!