Weekly news from Kusama & Polkadot #4
Weekly summary from 4th–10th October 2021
1. Heiko Finance won the parachain slot in auction # 10
The 11th parachain slot in Kusama goes to Heiko Finance after winning auction #10. You might get confused, why not 10th slot in 10th auction, but for those who follow us closely know, that the first parachain was Satemine — a common good parachain who received the first slot without any auction. Statemine allows token minting both fungible and non-fungible (NFT).
What is Heiko Finance? A canary network of Parallel Finance, which is a further decentralized money market protocol for Polkadot. Heiko will enable lending&borrowing, staking and as well liquid staking in the Kusama ecosystem.
Parallel Finance and its canary Heiko Finance are amazing projects with a superb list of investors that include companies such as Pantera Capital or Alameda Research. We are really looking forward to the first lending protocol on Kusama!
2. $731M KSM has been locked in Kusama
$731M KSM (22% of total supply) has been raised of locked funds on Kusama during parachain auctions.
A model from Messari expects, that similar numbers in the incoming Polkadot auction can lead into $7.9 billion USD in DOT, that could be locked in the first 10 auctions. This amount can lead Polkadot into the #5 rank according to TVL (total value locked).
3. Crust Mainnet reaching over 7,000 nodes
Crust Network Mainnet continues to expand its storage capacity, reaching over 7,000 nodes. The staking rate is around 15% and the total Storage capacity of Crust Network is at 2047 PB.
4. Ocean Protocol goes multichain
Ocean Protocol Team smart contracts and Ocean Market announced their cooperation with the leading EVM Kusama Parachain Moonriver. This collaboration will unlock the Web3 Data Economy for the Kusama ecosystem.
Besides that, Ocean Protocol is now also deployed on the Energy Web Chain, which means users can now publish, swap, stake, and consume data assets in the Energy Web ecosystem.
Data marketplace builders and other dApp developers can now use Ocean libraries (ocean.js, http://ocean.py) and frontend components (market) with Moonriver and Energy Web Chain. This is another step for Ocean to reach the multichain structure that will open more opportunities for its users. Holders of OCEAN tokens can now bridge them between Ethereum mainnet, Energy Web Chain and some others like Polygon, Binance Chain and Kusama (Moonriver).
5. Astar is testing dApp staking on testnet
Astar launched testing of their amazing improvement called dApp staking. At first, you can try it on the test net called Shibuya, which is Shiden’s parachain testnet with EVM functionalities.
Simply put, dApp staking enables developers to participate in the staking rewards of the parachain, which can bring them some kind of a basic income by getting 40% of the block rewards, that they can use for the growth of their dApp.
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