In what can best be described as a precedent, the Astar Network won the third Parachain auction slot on the Polkadot Network.
With the total number of positions filling up so quickly, the capabilities of the Polkadot blockchain are now expanding as it is designed to operate.
Building on the previous successes of Acala and the Moonbeam networks, Astar Network collected a total of 10,333,552 DOT coins worth approximately $ 372.9 million to secure the third slot from more than 27,000 contributions. Astar Network will now join the limited number of protocols introduced with the Parachain network in late December.
Astar Network, formerly known as the Plasma Network, is a unique technological offshoot that builds on the Polkadot Network. It is essentially a Substrate Runtime Module Library that enables developers to add plasma functions to their substrate chain. By adding an Astar (formerly Plasm) Substrate Runtime Module Library, developers can get scalable blockchains in minutes. The tailor-made capabilities of these blockchains now lie with the respective developers, who need to be explored.
Astar Network saw massive support in its Polkadot auction bid. While the protocol and the work it pushes is recognized by venture capital firms and angel investors such as Binance Labs, PAKA Ventures, and OKEx, among others, the Digital Finance Group has 300,000 DOT tokens worth approximately Astar Network in the November.
Just like other previous winners, Astar Network will reward its supporters with its native tokens as participants’ DOT tokens will be blocked for the duration of the auction slot opening. There will certainly be two more contenders to form the pre-defined 5 slots for the parachains. As the competitions keep going up, Clover Finance and Parallel Finance are still favorites to win the next few slots if the tide doesn’t change in the days to come.
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