Weekly News from Polkadot & Kusama #94
1. Astar has won the 48th parachain auction on Polkadot
Astar Network has won the 48th parachain auction on Polkadot by self-funding 45k DOT worth $193k. It's their 2nd slot after securing in the 3rd official Polkadot parachain auction.
Astar is Japan’s leading smart contract platform, which supports EVM and WebAssembly (Wasm) environments, promoting innovation through its Build2Earn program. It aims to be Polkadot’s “smart contract hub,” with the native token “ASTR.”
Recently, Astar unveiled version 2.0, featuring upgraded tokenomics and Staking 2.0. The highly anticipated Astar2.0 Supernova will be unveiled at the Token2049 conference on September 13, 2023.
2. Kabocha has won the 101st parachain auction on Kusama for 20 cents worth KSM
Kabocha has won the 101st parachain auction on Kusama by self-funding. And guess what? We’ve set a new record for the lowest rent fee. The amount of self-funded KSM used for the parachain auction was a mere 0.01 KSM, even less than the 0.04 KSM used by Robonomics in the 99th auction a few weeks ago! It’s approximately 20 cents to rent a parachain slot on Kusama!
Besides that there is one more curiosity, Kabocha was leading the auction just about 44% of the time, but still secured the slot.
Kabocha, as Edgeware’s parachain on Kusama, extends Edgeware’s governance and treasury experiment. It empowers creators, founders, and teams working on open and public subverses and metaverses in the Web3 ecosystem.
3. Kusama’s parachain block production issue swiftly resolved by OpenGov referendum
Kusama recently faced a significant issue when parachain blocks suddenly stopped being produced due to a dispute within a finalized block. This unexpected disruption resulted in Kusama’s parachains going offline temporarily.
However, swift action was taken to address this problem. The Fellowship proposed a Whitelisted Caller referendum no. 263, which garnered rapid support from 23.9% of KSM holders. This high level of backing allowed the referendum to pass in just 9 hours, significantly shorter than the typical 14-day period required for approval. This quick response and resolution demonstrate the strength and resilience of the Kusama community in handling unexpected challenges and highlight the power of OpenGov.
4. Acala’s Multichain Asset Router 1.0, which facilitates seamless asset transfers across blockchains enhanced by Wormhole, is now live
Acala Multichain Asset Router 1.0 is live, simplifying asset transfers across Polkadot parachains and Wormhole-supported blockchains. This release streamlines liquidity access for DApps and parachains, bridging the gap between various ecosystems.
Wormhole integration ensures seamless liquidity from Ethereum, Polygon, Optimism, and more. Future versions will support versatile use cases without bridges or EVM infrastructure.
Acala’s hybrid chain technology, Acala EVM+, offers Ethereum compatibility while retaining Polkadot’s modular framework. Regular audits by SR Labs guarantee security. The Multichain Asset Router is a pivotal addition to the Web3 landscape, offering an efficient cross-chain liquidity solution.
5. USDC to land on Polkadot as Circle expands multi-chain presence
Circle, a cryptocurrency industry leader, is set to broaden the reach of its USDC stablecoin. In September, USDC will launch on five new blockchain ecosystems, including Polkadot, Base, Cosmos via Noble, NEAR, Optimism with Polygon PoS integration in October.
This move comes on the heels of Circle’s recent introduction of the Cross-Chain Transfer Protocol (CCTP) and Web3 Services. With USDC on Polkadot, the Asset Hub parachain will enable seamless transactions across the ecosystem via the XCM protocol, advancing Polkadot’s vision for an interconnected, secure blockchain network.
6. Interlay reveals plans for BOB: a Bitcoin layer-2 network for DeFi and NFTs on Ethereum’s EVM
Interlay, known for its decentralized Bitcoin infrastructure, has unveiled the Minimum Viable Product (MVP) of BOB, a Bitcoin Layer-2 network. BOB, compatible with Ethereum’s EVM environment, introduces Rust smart contracts that work seamlessly with Bitcoin libraries, including Lightning and Ordinals.
“BOB bets on enabling builders from Ethereum and other ecosystems to quickly bring their DeFi, NFT, and other web3 products to Bitcoin’s 300 million users,” said Interlay co-founder Alexei Zamyatin.
The release showcases the BRC-21 standard — a novel Bitcoin standard proposed by the Interlay team in May this year, a trustless bridge for tokens between chains, and the integration of Rust and EVM smart contracts. The project aims to offer developers tools for experimentation without compromising Bitcoin’s security and decentralization.
7. Crust Network joins forces with zkSync to boost scalable and decentralized storage
Crust Network has announced its support for EVM Storage within the zkSync ecosystem, enabling a powerful fusion of scalability and decentralized storage solutions.
zkSync, a leading Layer-2 protocol, utilizes ZK technology to scale Ethereum while staying true to principles of freedom and decentralization.
Crust Files, Crust Network’s personal data storage tool, now offers seamless one-click storage for zkSync users, ushering in a new era of decentralized, scalable storage for the web3 evolution.
8. Moonbeam and Moonriver now seamlessly integrated with Trust Wallet mobile apps
Trust Wallet has expanded its offerings by integrating Moonbeam and Moonriver support on its Android and iOS mobile apps. This integration enables users to seamlessly manage their $GLMR and $MOVR tokens while gaining access to Moonbeam’s DApps through WalletConnect. Trust Wallet continues to enhance user experiences by broadening its compatibility and facilitating access to various blockchain ecosystems.
9. Credential Issuers empowered with Dock’s Request Data feature
Dock, a Verifiable Credential platform, has introduced a “Request Data” feature for smoother credential issuance. This allows issuers to request missing information, like names or email addresses, directly from holders using QR codes or links.
Once the holder provides the missing details from their Dock Wallet, the credential is automatically issued. This feature finds applications in scenarios like university transcripts, professional certifications, and event management, ensuring that issued credentials are accurate and credible.
10. OriginTrail simplifies EV battery verification with digital product passports
As electric cars become more popular, people worry about how eco-friendly the batteries are. To address this, the EU says all-electric car batteries need digital passports by 2027. OriginTrail Knowledge Assets are helping with this.
OriginTrail makes these digital product passports (DPP). They make it easy to find and check information. This helps AI (Artificial Intelligence) in the electric car industry.
Combining these passports with AI can make things easier for car makers. They can ask questions, get helpful answers, and see what’s happening in their supply chain. This mix of technology is changing the electric car industry and more. It’s creating a greener and fairer future.
11. Bifrost’s SALP empowers Energy Web X crowdloan liquidity
Bifrost leverages its Slot Auction Liquidity Protocol (SALP) to boost the Energy Web X Crowdloan on Polkadot.
Energy Web, a global non-profit, advances clean energy adoption through open-source Web3 tech. This partnership expedites the global shift towards sustainable energy solutions. Contributors earn 1 EWT for every 1 DOT in the Energy Web X crowdloan. With SALP, Bifrost ensures liquidity for participants during the parachain lease period, offering flexibility while supporting clean energy innovation.
12. ParaSpace and Parallel Finance merge to launch ParaX: streamlining Web3 finance
ParaSpace and Parallel Finance merge to form ParaX, a Web3 super app. ParaX simplifies the complex Web3 landscape, addressing challenges like cross-chain operations and user-centric design. It’s powered by account abstraction and zkVM technologies, offering two interfaces: a simplified version for newcomers and a professional one for seasoned users.
With over $250 million in TVL, ParaX aims to enhance the Web3 experience and create a more accessible and user-friendly decentralized finance ecosystem.
- 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
- Delegate your DOT or KSM to Polkadotters for easy participation in the on-chain governance via Talisman or Nova wallet
