Weekly News from Polkadot & Kusama #105

1. Turing Network has won the 113th parachain auction on Kusama

Turing Network has won the 113th parachain auction on Kusama by self-funding the slot, using 100 KSM worth $2 400. Turing Network was previously the winner of auctions #30 and #69.

Turing Network, an OAK canary network, addresses blockchain transaction complexities by introducing an event-driven model on Substrate. The platform enables cross-chain automation for parachains and promotes XCM, a programmable money form, revolutionizing global economies. Turing Network empowers entrepreneurs with secure, cost-effective DeFi and payment automation, allowing sophisticated asset creation, trading, and utilization such as interest reinvestment in DeFi, automating smart contracts triggered by specific events for continuous, error-free compounding etc.

2. Web3 Foundation unveils Decentralized Futures funding program for Polkadot’s growth

Web3 Foundation has introduced “Decentralized Futures,” a groundbreaking funding initiative designed to propel innovation within the Polkadot ecosystem.

With a substantial allocation of $20M USD and 5M DOT, this program seeks to nurture and sustain projects shaping Polkadot’s future. Whether you’re a for-profit venture or non-profit organization, Decentralized Futures offers grants, investments, and service agreements tailored to your needs.

Key dates:

• November 2023: Applications Process and Review Period Begins
• December 2023: Decision Period Starts
• June 2024: Application Process Closes
• July 2024: Review Process Closes

Apply now, share your ideas on the Polkadot Forum, and be a catalyst for decentralized advancements. Learn more and apply at http://futures.web3.foundation.

3. Agrotoken cultivates the future: plans to build Polkadot parachain for global agricultural tokenization

Agrotoken is pioneering the intersection of agriculture and blockchain, unveiling plans to establish a Polkadot parachain. As the first global infrastructure for tokenizing agricultural commodities like soybeans and corn, Agrotoken facilitates seamless trading, saving, investing, and transacting for farmers and businesses.

Stablecoins, collateralized by actual grains, offer diverse use cases, from Agrotoken-backed Visa cards to hedging against hyperinflation. Teaming up with Visa, Agrotoken ensures efficient, secure transactions with full transparency from farm to token on the Polkadot ecosystem, aiming to revolutionize agribusiness by prioritizing transparency and equity in the digital era.

4. Polkadot conviction locks update — no change for now!

In a recent announcement, it’s confirmed that conviction locks will not increase after the upcoming runtime upgrade, contrary to prior communication.

Voting locks will persist as multiples of 7 days until further notice. Stay informed with the latest updates by following Polkadot on X.

5. Techtics Engineering joins peaqosystem to revolutionize Web3 hardware landscape

Techtics Engineering, a specialized hardware manufacturer, has entered the peaqosystem to amplify decentralized physical infrastructure networks (DePINs).

This collaboration addresses the expertise gap faced by DePIN builders, offering tailored hardware solutions, reducing costs, and enhancing scalability. With a focus on custom hardware development, Techtics ensures that DePINs receive devices fine-tuned to their unique needs, optimizing efficiency and reducing unnecessary expenses.

“While having stellar Web3 skills, DePIN teams often lack hardware experience, which results in unnecessary expenses and sub-optimal decisions. We’ll help the DePINs building on peaq to get leaner and meaner with their hardware, picking the right tools for any job and optimizing everything, from device specifics to its manufacturing, to work like a Swiss watch.“ stated Jim van der Heiden, CTO of Techtics Engineering.

Peaq is an L1 blockchain designed to power real-world applications, offering a versatile platform for building dApps across various sectors such as mobility, connectivity, and energy.

6. Litentry and DWF Labs collaborate to revolutionize Web3 identity management

Litentry, a Web3 identity solutions provider, has forged a strategic partnership with DWF Labs, a leader in digital asset market-making and Web3 investments. Together, they aim to redefine decentralized identity management, empowering users to aggregate and control their data.

Litentry’s recently launched IdentityHub garnered substantial early user adoption, aligning with DWF Labs’ mission to support innovative companies bridging decentralized identities and the physical/digital world. This collaboration aims to enhance security, privacy, and user-centricity in the Web3 era.

7. Phala Network unveils InDEX: a paradigm shift in cross-chain trading

Phala Network introduces InDEX, a groundbreaking innovation driven by Phat Contract, aimed at transforming cross-chain trading, fortifying MEV protection, and prioritizing user privacy.

InDEX, Phala’s latest advancement, utilizes intent-centric infrastructure to optimize cross-chain trading experiences and ensure MEV protection, seamlessly translating users’ trading desires into reality with the power of AI. This visionary approach addresses challenges like solver scarcity and limited multi-chain options, providing a multi-chain intent-based trading platform that empowers solvers and delivers a trustless intent execution for a superior user experience.

8. Explore new features on Bifrost for vDOT holders

Discover new possibilities on Bifrost as vDOT holders can now autonomously explore real-time use cases of their LST, including earning opportunities, swapping platforms, governance participation, and loan offerings.

Empower your vDOT holdings with enhanced insights. Explore the diverse scenarios at https://bifrost.app/vstaking/vDOT?tab=scenarios.

9. Polkadex and Enflux boost liquidity on Orderbook with strategic partnership

Polkadex collaborates with Enflux to enhance liquidity on Polkadex Orderbook. Enflux’s transparent non-custodial, cross-exchange liquidity solutions, now live on iBTC/USDT, bring efficiency to trading.

This partnership aims to improve user experience, providing tight spreads and robust markets, and aligns with Polkadex’s commitment to a decentralized and transparent future.

• Enhance Polkadot’s governance process by delegating your DOT or KSM to POLKADOTTERS, dedicated community supporters within the Polkadot ecosystem, enabling seamless participation in on-chain governance through Nova wallet or Polkadot Delegation Dashboard
• Support Polkadotters Shrimp and Polkadotters Octopus on Polkadot and be a part of a more secure Web3 future