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PolkaDot Director Gavin Wood Announces Development Fund for DeFi

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PolkaDot Director Gavin Wood teased that he has set aside $774 million for investment in innovative ideas. This came after DOT’s recent rally based on Polkadot’s highly anticipated parachain auctions.

Polkadot is offering a unique opportunity for its community involvement. And help shape the future of this cutting-edge platform. Gavin Wood, a director at Polkadot, said on his page that they have 18 million USD. And, they are ready to spend on ideas like growing the education efforts or enhancing user experience with new features. He called on the DOT family to bring forward suggestions.

The DOT network is a vital component of the functioning of Polkadot. It’s essential to know how and where they keep your hard-earned crypto. According to Gavin Wood, if you don’t use the DOT token, it will just end up as a waste every month. Gavin is a cryptocurrency expert from Parity Technologies. Every month, Polkadot burns a total of 239,988 DOT.

Polkadot will continue with plans to create one of 2021 most powerful blockchains for an ecosystem development fund. That is if the community will accept it.

Polkadot’s third-place finish is impressive, as they have raised more than $774 million. Yet, DOT is currently in a three-way tie with Hedera Hashgraph and Binance for first-place finishes among Blockchains.

Polkadot Auction is Here

The Polkadot auction is finally here! It’s been five years of drawing on paper, but now that it’s happening – things are going to get interesting. The date has been revealed, and we’re all wondering what will happen next in this project. Will this be the DOTs turning point?

The return of DOT to the market has been a significant catalyst for growth in projects like Karura and Moonriver. The introduction of these two names saw an increase by 70-fold, but Polkadot might be what lights up things at the end of 2021.

DOT rallies over 16% in last seven days

Following the developers’ statement, Polkadot is probably ready to support its initial parachains, which are different, specialized blockchains that will actualize this network’s breakthrough multichain architecture. – prices of DOT coins increased by more than 16% in just seven days.

Polkadot is launching a multi-phase launch process. The project began in May of last year when they released their original proof-of-authority version. The final phase will be Parachains, and it’s scheduled to go live at some point this month.


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