This weekly recap is for informational purposes, not investment advice. Readers will be responsible for all their actions.
Data on-chain
Daily Transaction
In general, the Daily Transaction Amount in week 28 has a sharp decline from 22 000 DOT to 5 200 DOT. The reason for this decline is related to the decrease in the price of DOT. Specifically, also from July 12, 2021, to July 18, 2021, the DOT coin decreased in value from more than $15 to $12 and showed a short-term downtrend. In the context of the cryptocurrency market’s continuous decline in value today, we believe that the problem of DOT’s decline is only temporary.
Daily Active Address & Newly Created Address
Also, mainly due to the reasons mentioned above, the number of Daily Active Address & Newly Created Address has had a slight decrease this week. However, it is insignificant, showing that most investors and users have been preparing for this week’s drop and have become more cautious with their decisions. Most of them are waiting for a suitable opportunity to trade with better and safer profits; others are long-term holders and quitters.
Daily Fees Used
Because Daily Transaction Amount decreased, Daily Fees Used also declines slightly. Based on price and transaction data, it is possible that Daily Fees Used will also fall further in the coming week due to the caution of investors and users.
DOT Performance
(Source: PetrockFxTrading, Tradingview.com)
Price has already broken out of the falling wedge. If it can break the inverse H & S neckline at $13, it is a successful breakout. After that, a long position to $17, $20, and $24 gives us 100% return on investment from $12.
Important Updated
SAITO-Polkadot Arcade from Saito Network is now LIVE
The SAITO Arcade already supports three Polkadot Tokens ( $DOT, $KSM, and $WND). Polkadot applications operating on Saito Network have a better user experience than websites that need external plugins like Metamask and eliminate the need for centralized infrastructure providers like Infura.
$CLV from Clover Finance listed on FTX, KuCoin, gate.io & MEXC
On July 16th, people can trade $CLV on some exchanges as FTX, KuCoin, gate.io & MEXC. KuCoin and FTX have enabled ERC20 $CLV deposits, MEXC & Gate.io both ERC20 & BEP20. These movements will increase the liquidity of $CLV, and its price is predicted to increase in the short term.
New Polkadot API
Ankr newest Developer API integration is for Polkadot. The Developer API enables easy interaction with the Relay Chain. Polkadot Relay Chain lends security to attached parachain and provides a guarantee of secure message-passing between them.
Mirror Protocol whitelist Polkadot
Mirror Protocol reveals whitelisting 3 new assets: Polkadot, Square & AMD. You can see the detail below:
This action makes Mirror Protocol accessible to a large number of potential investors and creates even greater opportunities in the future.
ParaState raised $5.5M successfully
ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate, Ethereum, and other networks wanting to provide high-performance Ethereum compatibility.
ParaState closed its new $5.5M Private Fundraising Round led by HyperChain Capital. Other prominent backers include Firstchain Group, OIG, DCI Capital, Moonboots Capital, AuBit, CSP DAO, Maven Capital, GD10 Ventures, Parsiq, Playcent, Its Blockchain India, Llama Ventures and ThorX Crypto. Previous investors such as Kenetic, Moonwhale, Master Ventures, Taureon, Chronos Ventures, 1 Cap, Titans Ventures, pSquare, Bitcoin Guru, and others also extended their support.
ParaState will use the fund from this round to expand the core team, continue development of the core Ewasm (Ethereum flavored WebAssembly) runtime, the Rust SDK (SewUp) and the Solidity compiler (SOLL), onboard a developer community to build applications on top of ParaState’s infrastructure, and bootstrap the ParaState ecosystem.
Astar Received Web3 Grant
Astar Network received a Web3 Foundation Open Grant to implement a Zk Plonk pallet. Through this grant, Astar Network will make ZK Plonk on Substrate easy for Polkadot developers.
ZK is the key privacy and scaling solution in the long run. Astar Network is the dApp hub on Polkadot supporting Ethereum Virtual Machine, WebAssembly, and Layer2 solutions. Astra wants to implement cutting-edge layer2 solutions on Astar Network since they are making an open, transparent, and decentralized public blockchain for everyone in the world.
Partnerships
IRON Finance x DFyn
Both projects promise fruitful cooperation centered upon strengthening both communities and the Polygon ecosystem and more. Initial areas of focus will mutually incentivize healthy liquidity, followed by long-term synergies as both protocols build out additional products.
Polkamarkets x Dotmoovs
The partnership brings gamified prediction markets to their largest tournaments and leagues. This will allow users to predict outcomes on matches from sports events organized by Dotmoovs. Polkamarkets has opportunities to gain even more markets for our users. The shake-hand from these projects will also help them create a new Polkamarkets branded community within Dotmoovs.
Plutos Network x UniLend
By integrating UniLend’s money markets, Plutos Network will enhance the liquidity for users, which will be of great value in improving the trading experience.
Plutos Network will combine the strengths of projects by working with UniLend to offer users the highest level of liquidity and therefore enhance the overall trading experience. Soon, UniLend will be integrating Binance Smart Chain. With the outstanding performance on Ether and Polygon, UniLend will soon support BSC mainnet, adding another leading ecosystem to its multi-chain structure. Upon its completion, PLUT, the original token of Plutos Network, will be made available to UniLend users in a permissionless way.
With the help from UniLend and discussions with the Polygon team, Plutos Network will kick-start their integration into Polygon soon, marking a whole new milestone in the continuous development of Plutos Network’s multi-chain-based technical structure.
Astar Network x Crypto Climate Accord
The Crypto Climate Accord is an initiative to decarbonize crypto by powering blockchain with 100% renewable energy. The Crypto Climate Accord’s overall objective is to decarbonize the global crypto industry by prioritizing climate stewardship and supporting the entire crypto industry’s transition to net-zero greenhouse gas emissions by 2040. The Accord has two specific interim goals:
- The first goal is to achieve net-zero emissions from electricity consumption for CCA Signatories by 2030.
- The second goal is to develop standards, tools, and technologies with CCA Supporters to accelerate the adoption and verify progress toward 100% renewably powered blockchains by the 2025 UNFCCC COP30 conference.
PolkaPlay x PolkaFoundry
Firstly, PolkaPlay will use the PolkaFoundry one-stop production hub to integrate its NFT platform into the Polkadot network. Then PolkaFoundry shares experience with the Polkadot and refine the PolkaPlay NFT platform through UX-enabling features. In addition, PolkaPlay plans to explore the utilization of PolkaSmith, PolkaFoundry canary on the Kusama network.
Poolz x Nervos Network
By conducting the IDOs of Nervos-based projects, projects from Poolz will get massive exposure to the right set of investors who truly believe in the project’s vision. This automatically also means that investors will have more high-potential projects to invest in.
They promise to bring the best for Nervos-based projects and the Poolz community. This integration will bring great results for the entire Poolz ecosystem and the projects that conduct Nervos’s IDO on the Poolz platform.
Pinknode x Pontem Network
Potem wants to connect Facebook’s Diem blockchain with public networks is partnering with node infrastructure provider Pinknode. The Pontem Network will work with Pinknode to provide node infrastructure through the Polkadot ecosystem. The network is aimed at allowing developers to use a Polkadot parachain as a testing ground for their ideas before submitting them to the Diem blockchain.
In addition, Pinknode’s code would allow Polkadot developers to connect their DApps through Kusama. While Pontem and Pinknodes teams could provide critical infrastructure for Web 3.0 purposes.
Polkalokr x HAPI
Polkalokr is partnering with security oracle provider HAPI, an on-chain cybersecurity protocol with trustless oracles to prevent hacker attacks. By this partnership, Polkalokr is protected by an added layer of security to ensure the safety of Polkalokr users and HAPI data.
HAPI incorporates a system of specifically designed decentralized Security Oracles that enable a consistent and up-to-date relay of data feed to the Mainchain.
These security oracles tether to off-chain through API to the given database. This database includes a myriad of data that oracles can extract. With the help of this extracted data, oracles then record the information onto the blockchain.
Related Publications
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BNB Chain Weekly Recap Week 44 (27/10 – 2/11)
BNB Chain Weekly Recap Week 45 (3/11 – 9/11)
Weekly Recap | Week 27 on Polkadot
