Polkadot, regarded as the cross-chain leader, is undoubtedly the highlight of 2021. It is one of the few market focus that can still take some attention from Ethereum after the DeFi fire, and the development of Ethereum DeFi is in full swing. In another corner, the ecological construction of Polkadot DeFi is also in full swing.
Polkadot has risen rapidly in the past few months, and its current market capitalization is approximately US$213.2 billion, ranking it among the top five. According to statistics from the PolkaProject website, even though Polkadot’s mainnet has only been online for a few months, the number of projects based on Polka/Substrate has reached 372, covering underlying technologies, wallets, oracles, NFTs, DAOs, and smart contracts. Among them, 116 projects were issued based on Substrate, accounting for 31.18% in the fields of, bridge, DeFi, Internet of Things and games.
According to statistics, in 2020 Polkadot added 68,778 lines of code, and Substrate added 130,226 lines of code. By the end of 2020, more than 10 chains are ready to connect to Polkadot, and more than 60 testnets have been online.
In 2020, there are more than 900 GitHub repos tagged with Polkadot. Twenty-three proposals received funding from the Polakdot Treature, and a total of 118,456.63 DOTs were received. At the end of 2020, Polkadot Treasury held approximately 10,205,300 DOTs. At the end of 2020, there are more than 550 validator nodes and 7,000 nominators, and more than 60% of DOTs are in staking (staked).
With the rapid increase of Polkadot transaction volume, the application of cross-chain technology in various projects has become more and more mature. It is believed that Polkadot will release the huge potential of parallel chains in the future and bring more surprises to the world.
"Under the opportunity of the time, place, and people, choosing the right track is always more important than speeding up." When Polkadot becomes ecological, there will be more projects besides the "head slot" to enjoy the advantages of the parachain. , Every project will shine on the subdivision track, and Polkatrain, as a new generation of decentralized Polka Eco-IDO (Initial Dot Offering) platform, is no exception.
Traffic differentiation competition never stops
If Polkadot is the most successful cross-chain project in the public chain world, allowing more ordinary users to participate and realize one-click chain distribution, then what Polkatrain has to do now is to use IDO (Initial Dot Offering) auction method .
Directly create an AMM liquidity pool for the project parties and investors of the Polkadot ecology, capture more valuable and potential high-quality projects in the Polkadot ecology and decentralization field, so that the members of the Polkadot ecology can be exposed to high quality in the early stage The project uses the triple review mechanism of voting by all users, the project committee, and the DAO community to ensure that the project parties and individual investors achieve a win-win situation, which will help the crypto market investment to develop in the direction of democracy and open an era of differentiated competition for IDO.
In the blockchain industry, the differentiated competition on traffic has never stopped, and the most familiar one is the competition between Uniswap and SushiSwap, which has risen strongly in 2020. Prior to this, AMM represented by Uniswap has achieved great success, opened a precedent for AMM, and literally obtained a huge amount of traffic. As the popularity of Uniswap diminished, SushiSwap accurately cut into the market during the period when Uniswap ceased liquidity and seized the wave of liquidity released by UNI, making SUSHI's rise instantaneously more than 100%. With the continuous growth of volume, the transaction The slippage has been balanced, and SushiSwap has successfully become the new darling of liquid mining and completed the most successful "copy" of Uniswap, which has been going on for a long time.
As Polkadot's ecological development has been verified by the market, its value is self-evident. And how to capture differentiated traffic in the Bihai market is also what Polkatrain is doing. Focusing on Polkatrain’s existing and future huge ecological value and traffic advantages, it is the first step to discover high-quality Polkadot projects and auctions through IDO Ways, providing funding, resources, and market support have become Polkatrain's battle points in the competition for traffic differentiation.
Polkadot + BSC + decentralized and differentiated track
Polkatrain defines itself as the Polkadot ecological decentralized IDO (Initial Dot Offering) auction platform, a new way of asset issuance, similar to the IDO platform currently existing in the market, it can easily solve the high threshold of crowdfunding for the project party , Lack of liquidity, lack of traffic, etc.
But what distinguishes it from other IDO platforms is that Polkatrain focuses on serving the Polkadot ecological project with the largest traffic and value, has an inseparable connection with the Polkadot community, and has made key improvements in the gameplay.
Due to the current high gas fees on the ETH chain, in order to lower the threshold for project parties and users, reduce participation costs, and reduce impermanence losses, while taking into account security, traffic and performance issues, Polkatrain first released BSC (Binance Smart Chain), Achieve lower cost, higher fairness and more sufficient liquidity than the current AMM asset issuance.
According to statistics, BSC went from being unattended last year to over one billion U.S. dollars in lock-up volume in December, and then to one-billion-dollar lock-up volume in January, and then directly exceeded 10 billion in February, which can be said to have earned enough eyeballs. Of course, the specific effects need to be verified by the market after the launch. After the follow-up ETH2.0 and Polkadot smart contracts are launched, Polkatrain will successively launch ETH and Polkadot public chains, and rapidly develop from 1 to N.
Polkatrain chose a centralized IDO track. Each IDO auction project has a limited Token quota. All auctions are executed on the smart contract chain, and the funds are stored in its own decentralized wallet, which solves the unfairness and insecurity of traditional platforms. Certain market pain points.
However, unlike Uniswap agreements, it only targets projects that provide early participation quotas in the Polkadot ecology. At the same time, it is necessary to set the lower limit, upper limit and duration of each auction. Projects that are less than the lower limit within the agreed time indicate that the auction has failed. , All funds will be automatically returned to users on the chain. Project auctions will automatically stop when the upper limit is exceeded and the time expires. It is reported that Polkatrain will provide a fixed interest rate, LBP (Liquidity Bootstrapping Pool), and overfunding for the Polkadot ecological project. The three exchange pools, through the Polkatrain committee and DAO community voting projects, can initiate IDO auctions.
I personally think that the IDO auction initiated by Polkatrain is a kind of protection for ordinary users who are optimistic about the future development of Polkatrain. First of all, the user’s principal is in their own decentralized wallet, which is very safe. Even if you choose the wrong project, you can’t Obtaining income from the project party, users can also obtain POLT Token income by staking DOT in the mining pool. If the user chooses a high-quality project in the IDO auction, the income obtained may be much higher than the Staking income that should be obtained. . This helps users to screen projects to a large extent, because only high-quality projects are likely to get a lot of support from community users.
For Polkatrain, the purpose is to allow Polka Eco start-up projects and individual investors to become participants fairly, thereby forming true community autonomy and decentralization.
In summary, Polkatrain’s IDO auction is a multi-win and wonderful event:
1. Polkatrain eco-starters, open and equal access to funds and resource support;
2. Individual investors, under the premise of not losing assets, mortgage DOT to obtain POLT Token income;
3. The user chooses a high-quality project in the IDO auction and obtains high income;
4. The user mortgages DOT and POLT Token, not directly to the project party, but is automatically executed on the smart contract chain;
5. DOT holds Some, as the demand for DOT increases, the secondary market price is virtually pushed up;
6. Polkadot ecology, with the support of funds, resources and traffic, promotes the prosperity and development of Polkadot ecological projects.
The first version will be online soon
Polkatrain plans to launch the testnet in mid-to-late March and start the testnet airdrop activity. After the testnet is over, the mainnet will be officially launched and the LBP auction will be opened simultaneously. LBP is a variant of the Dutch auction or reverse auction. As time goes by, If no one buys it, its price will drop. The LBP auctioned 10% of the total supply of POLT Token to obtain and capture the true value of POLT.
At present, as the holder of the governance token POLT, he has great rights to control it, such as: IDO auction rights, pledge mining, LP mining, DAO community governance, voting governance, and ecological value appreciation, etc., and set up repurchase Destruction mechanism, POLT participating in IDO auction will be repurchased and destroyed. Eventually, POLT holders will own the platform, and POLT can benefit Polkatrain ecological contributors, IDO auction participants, and miners. This means that early participants will become important stakeholders of Polkatrain.
Whether a good project is well-known by more people and recognized by the market, in addition to the value of the project itself, more of this requires the power of the community. Only when the community recognizes the value of the project can it help you spread the value together. On March 5, Polkatrain has launched a global KOL recruitment plan. So far, 12 KOLs have joined the Polkatrain family to jointly promote the healthy and healthy development of Polkatrain and Polkadot.
It is reported that Polkatrain has received USD 500,000 in angel round investment from LINKVC and NGC Ventures. It is worth mentioning that NGC Ventures was established in December 2017 and is one of the largest institutional investors in blockchain and distributed ledger technology, as well as Zilliqa, Ontology, NKN, Oasis, Mainframe, Certik, Bluzelle, Iotex, etc. A key contributor to leading blockchain projects. Founded in 2016, LinkVC is a cutting-edge venture capital fund with a global perspective. Headquartered in Singapore, it is an investment institution for blockchain projects such as AICoin, BBX, STANDARD&CONSENSUS, CERTIK and DigiFinex. These two investment institutions are powerful and well-known in the industry. Participated in all of the projects.
In the foreseeable future, the development momentum of the Polkadot ecosystem will continue to grow, and the demand for Polkatrain will continue to expand. Its vision of connecting project parties and individual investors to bridge the value of the Polkadot ecosystem will also be realized. , The subdivision track centered on the differentiated traffic competition of Polkadot ecology will burst into vitality.
In this process, although Polkatrain started relatively late, according to the current dynamic trend, whether it is focusing on the differentiated traffic of Polka’s ecology, unique advantages, strong KOL community resources, recognition by investment institutions, or decentralization The creation of the IDO platform seems to herald the imminent rise of Polkatrain and become the helm of the next decentralized IDO platform. Combined with the contract code security audit and the value support of POLT Token, the potential development prospect of the project is very imaginative.
Like all things in the crypto space, when it happens, it will be fast. Only fast is not broken, and the latter is the last one.