DFG contributed 300,000 DOTs to Astar crowdfunding, deepening Polkadot ecological cooperation

The Polkadot parachain card slot auction will officially start on November 11, 2021 as planned. Investors from all over the world have participated in the competition to pledge DOT to support what they think is the most promising in the first round of parachain card slots. A successful item in the slot auction. Not surprisingly, DFG participated in it, and once again contributed its DOTs to support projects invested by its Polkadot Ecological Fund, helping it win one of the ten card slots in the first round of auction.

This time, DFG contributed 300,000 DOT to Astar Network's crowd loan, which once again proved its unswerving belief in supporting the Polkadot ecological cooperation project. DFG will do its best to help each cooperation project succeed in this round of slot auction, so that Polkadot, Web3, and the entire blockchain can be fully applied, and at the same time provide the world with Underlying solutions that facilitate paradigm shifts and disruptive ideas.

Astar Network (formerly Plasm) is a decentralized application hub on Polkadot, supporting: Ethereum, WebAssembly, and two-layer solutions like ZK Rollups. Astar's goal is to create a multi-chain smart contract platform that supports various blockchains and virtual machines.

The $DOT contributed by DFG to support Astar this time is through the most advanced solution at present, the Slot Auction Liquidity Protocol - Slot Auction Liquidity Protocol, SALP) to complete asset allocation. The agreement was specially created by Bifrost Finance for the parachain auctions of the Polkadot ecology and Kusama ecology.

SALP aims to unlock the liquidity of DOT/KSM in parachain auctions by issuing derivative assets that are anchored to locked assets used for auctions.

For crowd lending participants, SALP provides such an opportunity: they can not suffer from the lock-up period because of participating in crowd lending, and they can also allow crowd lending participants without losing their pledged DOT/KSM liquidity At the same time, get rewards for supporting various projects to participate in the auction through crowd lending. SALP has attracted more supporters who were worried and hesitant about the opportunity cost because they were afraid of losing liquidity due to the pledge of DOT/KSM for the parachain card slot auction, which greatly increased the possibility of successful bidding for each project.

The founder and CEO of DFG, James Wo, shared his views on the reasons for his trust in the solutions provided by the Astar team:

"Since we started investing in Polkadot and various projects in the entire Polkadot ecosystem, we firmly believe that interoperability is one of the core strengths of the Astar protocol. In addition to being a very good team, Astar once again emphasized The key to interoperability, and built a cross-chain bridge for Polkadot and Ethereum, which allows a large number of experienced and excellent teams to migrate from Ethereum to the Polkadot ecosystem. In addition, Astar has proved itself time and time again The quality of the product, and achieved unexpected results in the initial debugging. We believe that Astar’s scalability, compatibility, and governance functions will further highlight the project’s excellence and make it successful in the parachain auction.”

Sota Watanabe, the founder of Astar, likened DFG’s contribution to the slot auction to “another core contributor from Astar and the entire Polkadot ecology, and built a brick for the parachain slot auction.” , which will become an important cornerstone in the entire interconnected and interoperable blockchain universe in the future.”