Weekly News from Kusama & Polkadot #66
1. Mangata X has won the 68th parachain auction on Kusama
Mangata X secured another parachain slot on Kusama by winning an auction, with the help of the crowdloan. Mangata X raised in the crowdloan ~6 000 KSM worth ~$200k. Mangata X already secured its second parachain auction slot, after winning auction no. 26 during last year.
Mangata X is a next-generation decentralized exchange that allows traders to access a wide range of experimental tokens. Unlike traditional exchanges, it is community-owned, which means that its users have a say in its decision-making processes.
Mangata X is designed for experienced traders, offering advanced trading features and a user-friendly interface. With its low fixed fees and the absence of additional network fees, it provides a cost-effective solution for trading a variety of tokens. Additionally, Mangata X is resistant to front-running and MEV, ensuring that trades are executed fairly and transparently.
2. Acala launches EVM+ on mainnet, offers full EVM+ Substrate compatibility for DeFi dApp development
The Acala team has recently launched the Acala EVM+ on mainnet, which provides DApp developers a chance to launch Ethereum-compatible DApps on the DeFi appchain and liquidity hub of Polkadot. The EVM+ offers a development environment similar to Ethereum and includes familiar tools like MetaMask, Truffle, and Waffle.
The team custom-built the EVM+ to take advantage of the full potential of Substrate and Polkadot, combining the best of both worlds between the EVM and Substrate.
By deploying on Acala EVM+, DeFi teams can access billions in liquidity from native collaterals of Polkadot, as well as from Ethereum, Solana, Polygon, Avalanche, and other top ecosystems through Wormhole. This enables EVM-compatible DApp platforms to broaden their offerings and attract new Polkadot-native users while existing Ethereum users can access new assets and markets within the same interface.
Acala blockchain is regularly audited by top firms like SR Labs, and the Acala EVM+ has undergone several audits since its launch on the experimental network Karura in June 2022. With the recent launch of Wormhole on Acala, any developer using the Acala EVM+ can now integrate with wormhole assets.
Subsquid, one of the pioneers in launching the Acala EVM+, offers Acala ecosystem developers efficient and high-performance indexing for Acala DApps through Squids.
3. HydraDX Omnipool launches hydrated chart
The Omnipool trade page now features a hydrated chart, providing a visual representation of the liquidity and price movements of assets. This allows traders to have a better understanding of market trends and make informed trading decisions.
Omnipool combines the liquidity of multiple pools into one big pool to provide better liquidity and minimize slippage. HydraDX implements a one-sided liquidity solution, where liquidity providers only need to add assets to one side of the pool, reducing the risk of impermanent loss. This innovative approach sets HydraDX apart from other DEXes and makes it a true game-changer in the decentralized trading space.
4. Kintsugi launched the testnet trading competition with over $6,000 in prizes
Kintsugi, a Bitcoin DeFi hub, is hosting a trading competition from February 8th to 21st, with over $6,000 in prizes up for grabs. This is a §antastic opportunity for anyone interested in DeFi to try out the Kintsugi Testnet and experience lending, borrowing, and swapping BTC.
To participate in the competition, simply sign up at https://competition.interlay.io and make at least one trade. The competition includes a Trade Arena, where participants can showcase their DeFi skills and compete to win the top prize of $2,000, with the second-place winner receiving $1,000 and the third-place winner receiving $500. All prizes will be paid out in kBTC.
In addition to the Trade Arena, there are also challenges and a raffle to participate in. The three users who give the best feedback will receive a bonus prize of $500 each. Winners will be chosen based on risk-adjusted returns, making it a fair and exciting competition for all participants.
The Kintsugi Testnet is a great platform to try out DeFi, and the trading competition is the perfect opportunity to showcase your skills and win some kBTC. Sign up now at https://kintnet.interlay.io and start trading.
5. DAM Finance launches decentralized multi-chain liquidity infrastructure on Moonbeam
DAM Finance, a decentralized global shared liquidity layer has recently announced the launch of its multi-chain infrastructure on Ethereum and Moonbeam, a Polkadot parachain. This marks a key milestone in the company’s roadmap and is the first in a series of multi-network decentralized applications aimed at improving value mobility across the digital assets space.
The mainnet launch allows users to instantly access stablecoin liquidity on Polkadot by minting the platform’s d2o stablecoin on Ethereum and teleporting it to the Moonbeam network through the decentralized dReservoir protocol.
The dReservoir protocol is designed based on the experience of DAM’s contributors in building enterprise blockchain applications for financial institutions, including central bank digital currencies, trade finance, and capital markets. With the infrastructure live on both Ethereum and Moonbeam, it will allow for seamless teleportation of Ethereum’s liquidity to the Polkadot network and other parachains. d2o is initially backed by USDC and serves as a reliable mechanism for networks and projects to access stablecoin liquidity through DAM.
DAM Finance is a shared liquidity infrastructure aimed at enabling the scalable movement of value between sovereign networks. Its first decentralized application, d2o, is an omnichain stablecoin that helps sovereign blockchains scale native liquidity.
6. Polkassembly integrates with Subsocial
Polkassembly, the leading governance platform for the Polkadot ecosystem, is partnering with Subsocial. This integration will bring discussions on Polkassembly to Subsocial, making them permanent and impervious to censorship. According to Jas from the Polkassembly team, there is no logic in having a centralized system for decentralized governance.
To improve the user experience, Polkassembly will utilize Subsocial’s Energy feature, allowing users to engage in discussions without the need for SUB tokens. The Polkassembly team will acquire SUB tokens, burn them, and distribute the resulting Energy to Polkassembly users, giving them the ability to post, comment, and react.
Additionally, work is being done to eliminate transaction confirmation pop-ups, leading to a more streamlined experience that feels like a regular Web2 platform. This integration will also bring the concept of on-chain governance-based reputation into social profiles. It will be possible to see an individual’s full voting history and metrics about the issues they vote on when viewing their Sub.ID page. Projects could even filter accounts based on their reputation for involvement in governance over specific issues.
This integration will shift the on-chain governance system to a more comprehensive political system while maintaining its censorship resistance, immutability, and openness to all. The community will be able to continue building governance tools on top of Polkadot’s social graph, leveraging historical governance participation and on-chain data.
7. Milestone reached with launch of Awesome Ajuna Avatars (AAA)
The Awesome Ajuna Avatars (AAA) have made their debut, marking a new chapter in the convergence of traditional gaming and web3 technology. The AAA launch offers players the chance to immerse themselves in the Ajuna and Polkadot ecosystems and connect with a community passionate about the future of gaming.
Each season of AAA games and products will provide exclusive access to quests, digital assets, and games. Season 1 is inspired by the Mogwai characters from Battle Mogs, and players can mint their own avatars, upgrade them, and reach legendary status.
Projects launching a season of AAA can define the functionality and utility of the avatars to fit their community’s needs. These can range from perks in the game to active roles in the community. Access to Season 1 is through a web browser, with support for Chrome, Opera, Firefox, and Brave.
Start playing by signing up on https://aaa.ajuna.io, connecting your wallet, and minting and forging your AAA. The forging process requires sacrificing other AAAs, so strategy is key. Join the active community on Discord to collect daily BAJU rewards, free mints, and participate in challenges, quests, and giveaways.
8. Phala Builders Program offers up to $50,000 in funding for decentralized cloud computing solutions
Phala Network recently introduced its Builders Program to support innovative projects that want to develop decentralized, trustless cloud computing solutions using Phat Contract. This program offers funding, technical assistance, and marketing support to developers building on Phala’s platform.
Phat Contract is a Rust-based SDK that enables efficient off-chain computation while maintaining trustlessness, decentralization, and security. Developers from different ecosystems, including Ethereum, Polkadot, BSC, and more, can take advantage of Phat Contract and start building today.
The program offers grants of up to $50,000, developer support from Phala’s team, and promotional opportunities in collaboration with Phala’s marketing team.
Applications are now open. An informational session and AMA on the Builders program will be held on February 15th.
Consider supporting us by nominating your tokens to the Kusama or Polkadot validator by the POLKADOTTERS name.
