The Week in Polkadot: New Ways to Raise Cash and a Gaming Chain Migrates

Welcome to Decrypt’s Week in Polkadot, our regular round-up of the latest developments in the Polkadot ecosystem.

Funding platform hits Polkadot

Polimec, a new decentralized and community-centric funding protocol, has officially launched on Polkadot.

The platform allows its community members to assess and support Web3 projects, granting them access to funding information and project evaluations, and allowing them to join funding rounds.

The protocol, according to Polimec, is specifically built with compliance with U.S. regulatory standards in mind, and users must first obtain a Deloitte KYC Credential before they begin to invest. 

Members of the platform can choose to become evaluators. These will then take part in a 28-day evaluation round where they perform due diligence on a new project, assessing factors such as the project’s whitepaper, team, and tokenomics—details such as token supply and distribution.

These evaluators will be rewarded for their efforts with tokens if the projects they support manage to make it to the fundraising phase successfully.  

Some of the first projects set to be hosted on the platform include emerging markets-focused blockchain Mandala based out of Bali, Indonesia, infrastructure development platform Apillon, and carbon tracking project ImpactScope.

Mythos Chain to migrate to Polkadot

One of the Web3 gaming industry’s largest blockchains, Mythos Chain, is set to migrate to Polkadot.

The move will bring over 750,000 active wallets and a million new users into the Polkadot ecosystem.

Mythos Chain is used to provide the framework which supports Mythical Gaming, a gaming firm behind mobile games NFL Rivals, Nitro Nation and the now defunct Blankos Bloc Party. The developer’s games all focus on player-owned economies and enabling NFT trading.

The migration will see 1,000,000 DOT tokens exchanged for 15,000,000 MYTH tokens, while another 5,000,000 MYTH tokens will be used for incentives and grants to ecosystem partners.

Mythical says it is working closely with Parity Technologies on migrating the chain, which handles almost 4 million transactions a month, according to Mythical Games.

The migration won’t impact the companies relationship with the Apple and Google app stores, and creators will be able to keep their games running with minimal changes using the slightly updated SDK.

Polkadot attends Consensus 2024

Polkadot is set to attend Consensus 2024 in Austin, Texas, from May 29 to May 31.

Attendees will be able to earn Proof of Attendance Protocol (POAPs) tokens—a collectable digital badge which proves they attended the event—after moving through a succession of themed booths where they can learn about how Polkadot is being used.

Indycar and NASCAR star Conor Daly, a Polkadot ambassador, will be in attendance, and you’ll be able to meet Conor in person and collect signed merchandise. 

Polkadot will also host fireside chats in the designated “chill zone” which will discuss real-world blockchain applications.

"A Glass with Gav" returns

"A Glass with Gav," a recurring podcast series featuring Polkadot founder Gavin Wood, has returned for its second episode. 

In this edition, Wood sits down with the CIO and founder of Scytale Digital to discuss his ideas for the future of Polkadot if the potential JAM upgrade is implemented 

Listeners can continue to look forward to new episodes every month, with the podcast available on platforms including YouTube, Spotify, and Apple Podcasts.