Polkadot’s 16th Parachain Slot Secured in Crowdloan Round

On the 6th of May, Polkadot’s most recent auction round came to an end, generating over $13.8 million and bringing a new platform to the system. The winner of this auction, Polkadex, put up 973,324 DOTs across over 6000 community member donations, demonstrating the incredible community push that was behind this win. Polkadot is an interoperable blockchain ecosystem that offers high levels of security, user-driven governance, high energy efficiency, and is readily built for rapid scalability. Part of this scalability comes through its interoperable parachains, with many different blockchain systems linking into the central chain. By winning the most recent parachain slot auction, Polkadex has become the 16th chain to become embedded into Polkadot. Polkadex is built on substrate, providing a user-friendly decentralized order-book exchange where users can participate in high-frequency trading and other DeFi functions. The COO of Polkadex, Deepansh Singh, comments on their parachain win, suggesting that “Thanks to the Polkadex parachain, we will be able to bridge assets with the Dotsama ecosystem and now users will be able to trade Polkadot ecosystem tokens from across the whole spectrum of parachians,” signaling the core interoperability that Polkadot offers. Equally, he continued by marking this as a monumental event for the ecosystem itself, “This is a first for Polkadot and a first for DeFi as a whole,” seeing the potential fo...