Polkadex Wins The 16th Polkadot Parachain Slot Auction With Over $12 Million In Contributions
Categories: Crypto News US
Substrate-based decentralized exchange, Polkadex has won the 16th Polkadot parachain slot auction, after raising 973,324 $DOTs ($12.2M worth) from more than 2,300 contributors within its community. The decentralized order book joins Litentry, a decentralized identity aggregation protocol, and Unique Network, a scalable blockchain for composable NFTs, as the winners in the latest Polkadot parachain slot auction.The success of Polkadex comes on its third time of asking, becoming the first parachain auction to cross 90% of its target cap, set at 1 million $DOT, and the largest crowdloan funding in Batch #3 of the auctions. Litentry raised 943 842 $DOT, approximately $11 920 726 at current prices from over 3,400 contributions while Unique Network came in third with 822 943 $DOT ($10 393 765) from 3,500+ contributions. The success of Polkadex comes on its third time of asking, becoming the first parachain auction to cross 90% of its target cap, set at 1 million $DOT, and the largest crowdloan funding in Batch #3 of the auctions. Litentry raised 943 842 $DOT, approximately $11 920 726 at current prices from over 3,400 contributions while Unique Network came in third with 822 943 $DOT ($10 393 765) from 3,500+ contributions. By winning the 16th parachain slot auction, Polkadex opens up its doors to greater utility in the decentralized finance (DeFi) space. The win enables the DEX to become interoperable with other Polkadot parachain projects and build DeFi applications on the transparent and secure Polkadot blockchain. It also aligns with the project’s goal of combining the safe and non-custodial fomart of DEXs, with the advanced tradin.Finally, the Polkadex community also welcomed crypto partners to help them reach the crowdloan target. These partners included Polkadot DeFi platforms such as Parallel Finance and Equilibrium, and centralized exchanges like KuCoin and Kraken, which gave its community more opportunities to participate and more rewards for contributing.