Weekly News from Polkadot & Kusama #84
1. OpenGov Goes Live on Polkadot, Empowering the Community’s Voice in the New Era of On-Chain Governance
OpenGov, initially launched on Kusama, the canary network of Polkadot, has now gone live on the main Polkadot network, introducing a new era of open governance and community engagement. The implementation of Polkadot OpenGov marks a significant shift, as community referenda now determine decision-making, treasury allocation, network governance, and issue resolution. This evolved model aims to empower token holders by directly involving them in decision-making processes, with the option to delegate voting power if desired.
The system ensures sanity by implementing support thresholds, placing limitations on critical Origins/tracks, and incorporating mandatory delays at different stages of the decision-making process. However, community efforts are needed to overcome challenges such as low participation, the quality of judgment, time commitments for proposal assessment, complexity, and the potential for centralization. Regular participation will help familiarize participants with the concepts and strengthen the decentralized nature of OpenGov.
The active involvement of all DOT token holders and the newly formed Polkadot Technical Fellowship, comprising over 45 members replacing the Polkadot Council and Technical Committee, is emphasized. This development aligns with Kusama’s increased proposal submissions, indicating a growing community participation trend. As Polkadot continues to prioritize development, recent achievements include advancements in blockchain-based identity solutions and decentralized social networks.
2. Kintsugi has won the 88th parachain auction on Kusama
Kintsugi, a canary network of Interlay, has won the 88th parachain auction on Kusama by self-funding 200 KSM worth ~4,5k USD. Kintsugi is already a winner of auctions #11 and #44.
Kintsugi brings open Bitcoin to Kusama. kBTC, a 1:1 Bitcoin-backed asset on Kusama, kickstarts liquidity for parachains like Karura, Shiden, and Moonriver, with decentralized Vaults ensuring security.
Kintsugi recently brought its own DeFi-Hub, where users can trade kBTC, lend it, or even farm!
3. HydraDX prepares to introduce Dollar Cost Averaging (DCA) feature, offering increased trading control and reduced volatility
HydraDX is introducing a new feature called Dollar Cost Averaging (DCA), allowing users to gradually execute trades on the Omnipool to mitigate price volatility and slippage.
To mark this milestone, the HydraDX Council is launching an exciting DCA contest. Participants have a chance to win double the price of 100k HDX tokens for creating the best DCA meme and also the user manual.
DCA meme contest:
- It should be related to DCA
- It should mention HydraDX
- It should be memingful
contestUser manual contest
- How to DCA into a token, and how to XCM it to its chain
- Tokens (choose one): DOT, ASTR, ZTG, PHA or CFG
Submissions for both meme contests and the user manual are until June 22, post on Twitter and tag @hydra_dx , on Discord #memes / #general for the manual.
DCA is a popular strategy, splitting trades into smaller parts executed regularly. Starting this week, the HydraDX Omnipool will support an intuitive implementation of DCA which allows users to buy any Omnipool asset in intervals of 1h, 2h, 4h, 8h, 12h or 24h.
4. Energy Web partners with Zeeve to enhance energy transition with Web3 infrastructure
Energy Web partners with Zeeve to integrate the Energy Web Chain (EWC) into Zeeve’s Web3 infrastructure. This collaboration enables Energy Web member companies to access a secure and scalable service for running validator nodes on the EWC and Volta testnet. It also brings no-code infrastructure management to the Energy Web Chain.
Zeeve’s infrastructure-as-a-service (IaaS) solution simplifies deployment, offering a managed service or a bring-your-own-cloud option. By eliminating operational complexities, companies can focus on their core business while contributing to the decentralized governance of the Energy Web Chain.
Both Energy Web and Zeeve are members of the Hyperledger Foundation, strengthening their collaboration and fostering innovation in the decentralized technology ecosystem.
5. Astar 2.0: building the unstoppable and scalable network powering a global Web3 vision for all
Astar Network introduces Astar 2.0, a significant milestone in the journey to become the leading smart contract hub on Polkadot, focusing on empowering billions through Web3 technology, decentralized systems, and community empowerment. Let's dive deep into the details.
Astar Link: enabling seamless integration and enhanced user experiences through a hybrid chain that connects fragmented blockchain industry layers.
Tokenomics: redesigning value distribution and transaction fees to ensure long-term sustainability and optimal benefits for stakeholders in the Astar ecosystem.
Staking 2.0: transforming user experience with a unified account interface, fair rewards, and accessibility for developers and supporters engaging with dApps in the Astar Network.
The Supernova: Astar’s monumental leap forward, delivering on the promise of Web3 technology and empowering individuals and communities to shape a global decentralized future.
Astar Foundation: driving ecosystem growth by nurturing strategic partnerships, awarding grants, supporting community initiatives, and serving as a thought leader in the blockchain space.
Startale Labs: spearheading web3 innovation and collaboration with prominent Japanese enterprises, paving the way for mass adoption and Web3 accessibility on a global scale.
Astar DAO: embracing decentralized governance principles, creating an inclusive network framework where participants contribute, voice opinions, and shape Astar’s direction for the benefit of all.
6. Acala unveils Exodus Plan: overhauling protocols, upgrading tokenomics, and paving the way for DeFi innovation
The Acala Exodus Plan aims to overhaul and upgrade the Acala Network protocols for long-term self-sustainability and growth.
It includes a path forward for the aUSD product line, addresses liquidity and adoption challenges, and proposes a new product roadmap and refreshed tokenomics.
The plan involves launching aUSD Seed (aSEED) to provide options for existing aUSD holders and participate in Acala’s future growth.
Additionally, it introduces the Universal Asset Hub (UAH) for deep and ubiquitous liquidity and the Euphrates liquidity dApp for engagement and liquidity growth.
Upgraded ACA tokenomics support infrastructure, protocols, and network growth while encouraging ACA participation and offering rewards. The plan sets a bold vision for building web3 finance and breaking old molds.
7. Introducing Moonbeam Routed Liquidity: enhancing cross-chain liquidity flow in the Polkadot ecosystem
Moonbeam Routed Liquidity (MRL) streamlines the movement of crypto liquidity to and from the Polkadot ecosystem, linking Ethereum, Solana, Polygon, and Avalanche. MRL utilizes XC-20s and Polkadot’s XCM to direct liquidity across bridges to any Polkadot parachain. It empowers Substrate-based parachains to access external crypto liquidity by leveraging Polkadot’s interoperability capabilities.
Moonbeam’s XC-20s, in conjunction with XCM, enable seamless cross-chain communication and facilitate various DeFi use cases. MRL optimizes liquidity bridging through dedicated relayers and GMP precompile processes. It expands asset accessibility by establishing connections between diverse blockchains and Polkadot, capitalizing on the messaging protocol of Wormhole and cross-chain GMP protocols.
8. Manta Network partners with Dmail: empowering users with secure access to decentralized email infrastructure via Manta Wallet
Manta Network recently announced its strategic partnership with Dmail, enabling Manta Wallet users to seamlessly log in to Dmail using their Manta Wallet public addresses. With the successful integration of Dmail and Calamari Network, Manta Network’s canary net, users can enjoy effortless access to Dmail’s decentralized email infrastructure.
This collaboration aligns with our shared mission of empowering users with privacy-centric communication tools, marking a significant milestone in revolutionizing email communications in the Web3 era. Through the Manta Wallet integration, users can securely send and receive emails, leveraging the power of Manta Network’s zk layer 1 blockchain and Dmail’s innovative multi-chain infrastructure.
9. Enjin welcomes Etherscape to the ecosystem, unlocking limitless opportunities for innovation and growth
The Etherscape, a groundbreaking shared world RPG developed on top of Efinity, has joined the Enjin Blockchain ecosystem as the latest adopter.
In a guest post by Sam Bayless, the creator, and developer of The Etherscape, he shares his journey into the world of blockchain technology and his decision to build on Enjin. Sam highlights the potential of the Enjin-Efinity merger, emphasizing the need for a purpose-built NFT chain and a unified community.
The Etherscape offers players unprecedented control over the economy, revolutionizing the gaming experience in the world of NFTs.
10. Join Polkadotters on Twitter Spaces for an AMA with Nino Kutnjak, CPO of Apillon ⧓, on June 21st
We are excited to announce that Polkadotters will be hosting an upcoming AMA (Ask Me Anything) session on Twitter Spaces with Nino Kutnjak, the CPO at Apillon ⧓.
Mark your calendars for June 21st, 2023, at 4:00 PM CET / 10:00 AM EST, and join us for an insightful discussion about tooling on Polkadot and Apillon’s role in simplifying Web3 adoption.
Don’t forget to set a reminder for this exciting event by visiting the Twitter link provided: https://twitter.com/i/spaces/1zqKVPekMDXJB.
- Strengthen Polkadot by nominating your DOT tokens to POLKADOTTERS, community builders for the Polkadot ecosystem
- Support Polkadotters Shrimp and Polkadotters Octopus on Polkadot and be a part of a more secure Web3 future
- Discover our presence on the DVA (DOT Validator Alliance) pool and join our efforts to secure the network by using Nomination pools
