The first of the long-awaited parachain sales of Polkadot, one of the biggest competitors of Ethereum, has been completed.
Acala wins Polkadot's first parachain sale.
Acala, the DeFi protocol compatible with the Ethereum network, was the first project to win. Acala, which won the first of Polkadot's parachain slots, made a $1,250 billion bid for it.
Acala Wins on Polkadot Network
The Layer-1-focused smart contract platform won the auction with a DOT of 32,515,989. This fund, brought together by 81,000 community members, was instrumental in Acala winning the parachain slot.
The funds will be used for numerous developments after Acala acquires the parachain slot.
The Polkadot community has also revealed that Acala is the project that attracts the most attention, with the funds they collect and the votes they cast. Acala, which collected 600 million dollars last week, definitely showed its difference.
Looking at the latest data, Moonbeam is expected to be the project to acquire the second parachain slot. With 5 million transactions on its own network and the leading parachain on the Kusama network, Moonbeam is definitely a strong competitor.
Polkadot's parachain auctions began on November 11 and were brought to life after years of planning. The Acala team announced that it will delight its investors with a stablecoin named aUSD, AMM-oriented decentralized exchange and EVM compatible development environment in the coming days.
MetaMask Reaches 21 Million Monthly Users!
With digital assets making huge climbs recently; more and more investors are entering the market to make huge profits. Therefore, exchanges have been experiencing a tremendous increase in the number of their users over the past few months.
MetaMask wallet has seen a 420% user base increase!
Alongside exchanges, wallet service providers are also seeing a steady increase in their user base. In this context, a recent report has been published regarding the MetaMask wallet, which Consensys company is behind. According to the report, the leading cryptocurrency wallet has experienced a 420% user base growth recently. This rate means that the total number of users transacting with the wallet every month is about 21 million.
This announcement shows that people are still using the company's product more than ever before, as Consensys recently raised $200 million in a fundraiser. In April, when the NFT market was the center of attention, the number of users of the wallet was around 5 million. With the further adoption of the DeFi and NFT sectors in the intervening time, the MetaMask wallet has significantly increased the number of users.
According to Jacob Cantele, Operational leader of the MetaMask wallet, most new users are gamers. Jacob states that the growth of the gaming industry has been a factor in the development of the platform. He also states that the diversity in the playground has made many players love the playground and in the process opened them to the DeFi market.
10 Billion Dollars of Transactions in the Last Eight Months
Along with the tremendous growth in its user base, MetaMask has seen a huge increase in the services it offers. During the first wave of NFTs; Users who wanted to keep NFTs used the wallet. The wallet has been recognized as the only gateway for users in the DeFi industry to borrow and exchange tokens without a third party. Currently, the wallet has a mobile application that offers better services to its users.
According to MetaMask, the swap feature in its wallet has been used by investors to transact $10 billion since its launch in March. In addition, MetaMask continues to attract institutional investors with its “MetaMask Corporate”.
Pangolin V2 Release Announced!
As you know, Pangolin V1 was released in February 2021 as an AMM project specific to the Avalanche network.
Pangolin, which stands out with its low cost and speed, is now preparing to release the V2 version.
Since its launch, the platform has managed to stand out as a secure and low-cost DEX. Since its launch day, Pangolin V1 DEX has hosted $8.7 billion in trading volume.
On November 21, Pangolin aims to deploy its new version on Avalanche Mainnet.
Pangolin 2.0 Overview
PNG, which previously had a 28-year emissions plan, will now have a 4-year emissions scheme.
In addition, the significantly reduced PNG supply will stand out as the largest token burn in DeFi history. According to Pangolin, 57% of all remaining PNG tokens will be burned.
With the update to smart contracts and Liquidity Provider Optimization, liquidity providers on the platform will be able to receive better incentives.