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Polkadot founder launches a development fund
Polkadot founder Gavin Wood has launched a $774 million fund designed to boost decentralized finance (DeFi) development on the blockchain. The fund was launched just weeks before the blockchain’s parachain auctions go live.
The founder allocated more than 18.9 million Polkadot (DOT) tokens to a development fund that would boost the blockchain. Polkadot currently has 18,936,300 DOT in its treasury. The founder suggested that instead of slowly burning the coins, they should be used to und anything that the network’s governance believes valuable.
The funds are expected to be deployed towards boosting the DeFi market on the Polkadot blockchain.
Polkadot prepares for its parachain launch
The Polkadot blockchain is preparing for its parachain launch. The parachains is set to mark the last stage of Polkadot’s multi-phase launch process that was launched in May last year. DOT remains one of the leading cryptocurrencies and is up by more than 25% over the past week.Continue reading by joining Cryptonary Pro
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