Weekly news from Kusama&Polkadot #43
1. Kylin Network won the 25th auction on Polkadot
Kylin Network is the winner of the 25th auction on the Polkadot network by earning 150k DOT worth $1M from 1056 contributors. It was quite obvious, that Kylin will win this auction due to the data from parachains.info.
Kylin Network focuses to build a cross-chain platform, which will power the data economy on Polkadot by providing the data infrastructure for the DeFi usage and Web3 usecases. Kylin Network will provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
Kylin Network has a canary network called Pichiu, which is already a winner of the 31st Kusama auction.
2. Subsocial won the 50th auction on Kusama
Subsocial won the 50th auction on the Kusama Network. By self-funding 1001 KSM worth $50k, the price of the slot seems to be one of the lowest ever. It was probably a good strategy to wait for the later auctions rather than compete in the first dozen or later.
Subsocial is an open platform for decentralized social networks and marketplaces with their own monetization. It’s kind of a decentralized Reddit or Medium, where the separate blogs or subreddits run on their own chain.
Subsocial is a set of Substrate pallets with web UI, which allows anyone to build and launch their own censorship-resistant decentralized social network.
3. Mangata X started liquidity bootstrapping of TUR/MGX LP
Mangata X started their liquidity bootstrapping for a new trading pair TUR-MGX. 10m MGX and 1m TUR were contributed from both Mangata X and Turing network. Users started to add liquidity at https://liquidity.mangata.finance. The bootstrapping event ends two days after the start, which happened on the 29th of August. After that, users will be able to swap MGX and TUR tokens in this LP.
Mangata X is the canary network of Mangata, which aims to bring new functionalities to the present DEX space by avoiding front-running, bringing no-gas transactions, and improving the liquidity depth by using the revolutionary Proof of Liquidity consensus mechanism.
4. OAK Network announced a crowdloan with the fiat on-ramp widget by Gem
OAK Network announced their crowdloan for the Polkadot network, which will go live on September 20th, targeting the 28th auction. Contributors will receive up to 1.5% of the OAK tokens from an initial supply of 1 billion at a ratio of up to 100 OAK per 1 DOT contributed.
There is one thing to mention besides the crowdloan start. OAK Network announced a partnership with Gem (by Blockdaemon), which provides developers with a user interface for fiat funding options.
For the crowdloan, OAK Network will use a fiat on-ramp widget by Gem, which enables users to buy and transfer DOT tokens directly on the crowdloan page.
OAK Network is the Web3 hub for DeFi and payment automation. With the new update, it enables connected parachains and dApps auto-compounding actions via XCMP.
5. Crust Network will partner with Integritee
Crust Network announced a partnership with IntegriTEE. Those are both projects utilizing the TEE technology (Trusted Execution Environments).
Crust Network is a decentralized storage protocol based on IPFS. IntegriTEE is the most scalable public blockchain solution for securely processing sensitive business or personal data in the Dotsama ecosystem.
By integrating the decentralized attestation service from IntegriTEE, Crust users could be able to verify IPFS-based decentralized data storage for their applications and seamlessly pull that data from IPFS. Also, both Crust and IntegriTEE will co-serve the Metaverse scenario in the near future with confidential data storage and processing at the same time. This will result in more secure and confidential application data for Web3 games and metaverse projects.
Besides that, Crust Network joined the parachain auction on Polkadot. It can imitate its canary network Crust Shadow, which already won the parachain auction on Kusama earlier this year.
Consider supporting us by the nomination of your tokens to the Kusama or Polkadot validator going by the POLKADOTTERS name.
