Some of the Recent Important Developments
TL;DR
- Polkadot partnered with Heroic and introduced Deloitte’s KYC credential solution through Polimec Protocol. The community also plans to allocate 3 million DOT tokens to support DeFi activities.
- Despite these developments, polkadot‘s cryptocurrency DOT is down 10% for the week, but some analysts are optimistic about its future potential.
Polkadot continues to make a splash thanks to important developments regarding its ecosystem and important partnerships.
Earlier this month, open-source game launcher Heroic came together with the blockchain protocol. As a result, Polkadot branding will be incorporated into the Heroic jersey design and live broadcast overlays.
Shortly after, Polimec Protocol (a decentralized, community-driven financing platform) introduced Deloitte’s “groundbreaking” know-your-customer (KYC) credential solution for Polkadot as a DF donor. These credentials are built on the Kilt Protocol (one of Polkadot’s parachains) and leverage advanced infrastructure features.
last but not leastPolkadot community plan will allocate 3 million DOT tokens (equivalent to almost $20 million at current rates) to support DeFi activity in the ecosystem. One million assets are expected to be distributed to liquidity mining incentives, while another million assets are expected to be allocated to liquidity mining incentives. set For non-custodial liquidity at Omnipool.
Omnipool is a unique liquidity pool model developed by HydraDX. It aims to facilitate efficient and seamless trading of multiple assets in a single pool.
The remaining one million DOT tokens should support the development of StellaSwap, a decentralized exchange (DEX) built on the Moonbeam network, which is part of the Polkadot ecosystem.
Before these developments, Polkadot Blockchain Academy (PBA) explained It’s his fifth group in Singapore. Attempt designed To nurture developer talent in the city-state and provide participants with a learning experience.
The project consists of 184 lecture hours that provide people with an in-depth understanding of Polkadot and blockchain technology in general. Some modules include Economics, Smart Contracts, Governance, and Polkadot SDK.
DOT Price Outlook
Despite the numerous developments surrounding Polkadot lately, its native cryptocurrency DOT-Hlike showed poor performance. Its price is currently hovering around $6.40, representing a weekly decline of 10%. worth mentioning The decline could be a result of the market correction that has prevailed in the entire crypto sector lately.
DOT Price, Source: CoinGecko
But some analysts are optimistic that a rise is on the horizon. X user CryptoBullet requested DOT is on the rise as long as it maintains this level important Resistance level is $5.60-$6.50. According to the merchant’s statement, Next Targets are $12.70, $17, $23 and $31. “I’m very confident about this all these levels will be reached “within the next 12 months,” they added.
Ash Crypto, an X user with over a million followers, also participated. Hey clarified He said he currently keeps more than 120,000 DOT tokens, which is now equal to almost $800,000.
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