Welcome to Decrypt’s Week in Polkadot, our regular round-up of the latest developments in the Polkadot ecosystem.
Moonbeam Network, consistently one of Polkadot’s most popular parachains since it first launched in January 2022, has launched a $13 million funding initiative.
The new initiative will look to boost Moonbeam’s ecosystem in several key areas such as gaming and real-world asset (RWA) tokenization, alongside supporting its sister blockchain Moonriver, hosted on Polkadot’s canary network’ Kusama.
Moonbeam allows developers to build DeFi applications that work across the Ethereum and Polkadot blockchains, providing full interoperability with both ecosystems. Moonbeam was the first parachain launched on Polkadot. As of Q1 2024, Moonbeam has facilitated over 49 million transactions, launched more than 300 projects, and built a community of 200,000 members.
The fund has already made its first investment into gaming platform N3MUS, a start-up which works on better integrating Web3 with conventional gaming platforms. Its platform already supports 130 games, with a total player base of 1 million.
If you're interested in developing within the Moonbeam ecosystem, you can head here to apply for grant money and technical support.
The Moonbeam Foundation is allocating a total of $10M to Moonbeam's newly established Innovation Fund 🥳
The Innovation Fund will focus on advancing key areas, including:
Polkadot has allocated three million DOT tokens, roughly $20 million at the current price, into two DeFi projects, following an almost unanimous community vote via its decentralized governance.
Hydration, a DeFi protocall meant to bring liquidity to the Polkadot ecosystem, will receive two million DOT tokens, or $13.4 million at current rates.
Web3 Foundation invests in Asian Polkadot ecosystem
The Web3 Foundation, the organization behind Polkadot, has given PolkaPort East a grant as part of its Decentralized Futures program
The money will be used to enhance technical, community, and ecosystem growth within the Polkadot network within Hong Kong and the surrounding area.
Polkaport East will look to establish and grow a vibrant Polkadot community in Hong Kong, supporting current investors as well as attracting new teams and institutional investors.
By far one of Asia’s largest financial capitals, Hong Kong launched its Virtual Asset Trading Platform (VATP) handbook in June last year, to encourage legitimate crypto activity in the region.
We are officially Live! The @Web3foundation has approved our Decentralized Futures application. We are extremely excited to be representing @Polkadot officially and driving IR and Growth initiatives for the ecosystem in the HK and Greater Bay Region.
Prominent technology investor Cathie Wood’s Ark Invest released an updated Bitcoin price target, outlining a path for the top cryptocurrency to reach a price of as much as $2.4 million per coin by 2030.
Released on Thursday, the latest report levels up Ark’s previous price predictions from its annual Big Ideas report, which used total addressable markets (TAM) and penetration rate assumptions to determine a price prediction for Bitcoin.
Now, the firm combined its previous predictions with expe...
Bitcoin ETFs attracted $442 million in inflows yesterday, marking the fourth consecutive trading day of positive accumulation. Markets have been green since last Thursday, but were closed in various regions in observation of Good Friday and Easter.
Total assets under management now stand at $108 billion, according to data from CoinGlass, reaching its highest level since late February, as Bitcoin continues its recovery from the low $80,000 range this week.
BTC, the original cryptocurrency, is cur...
An Ethereum user fell victim to an address poisoning scam on Sunday, resulting in the loss of nearly $700,000 worth of the USDT stablecoin.
Experts warn this rising form of scam is easy to fall victim to if users aren’t militant in fully checking the address that they’re sending funds to.
What is address poisoning?
For address poisoning to work, malicious actors create an address that looks strikingly similar to an address that the victim has interacted with recently. The attacker will then send...
