Observations and Perspectives
First is the slot auction situation, Robonomics won the 75th Polkadot slot auction and will be connected to the relay chain on September 25, 2024. The parallel chain aims to create and develop a platform that combines robotics and IoT technologies. Bifrost purchased slot time for 23 KSM through the Core Time Trading Market Lastic for the first time, successfully renewing the Kusama network slot for 28 days at a very low cost.
The Web3 Foundation officially announced the latest round of grant recipients, including recipients of the W3F Grants Program and the Decentralized Future (DF) program. In summary, the W3F Grants Program focuses solely on technology and open-source projects that benefit the community, while the DF program aims to kickstart projects that can be financially self-sustaining in the long run, providing greater flexibility in terms of focus and permission.
The DF application period ended at the end of June, receiving over 250 applications, far exceeding expectations and highlighting the applicants’ great interest in the Polkadot ecosystem. So far, over $25 million has been allocated through the DF program, with more funds expected to be distributed by the end of July as the final applications are reviewed.
To date, the DF program has signed 40 projects, with the distribution as follows:
61% focused on technology
17% focused on marketing
17% focused on business development
5% focused on community work
You can view the list of supported projects here:
https://futures.web3.foundation/supported-projects
The Web3 Foundation is committed to supporting DF projects through various initiatives to make the community aware of their activities, increase their visibility, and impact. Due to the broad scope of the DF program, there has been a decrease in applications for the W3F Grants Program, with the focus remaining on nurturing open-source technology.
If a project does not meet the criteria of the W3F Grants Program but aims to be a financially sustainable enterprise within the Polkadot ecosystem, other financing mechanisms such as the OpenGov channel or the Polimec fundraising platform can be considered.
Overall, whether it is the Decentralized Future program or the W3F Grants Program, they are both aimed at encouraging more builders to participate, driving the continuous development and innovation of the Polkadot ecosystem. Through these programs, the Web3 Foundation hopes to attract more talented developers and teams, not only enhancing the overall strength of the Polkadot ecosystem but also promoting the popularization and application of related technologies, collectively realizing the vision of Web3.
The Polkadot ecosystem has not only established funding programs for project builders but also launched an Ambassador Program to encourage more members to participate in community development. Currently, the Polkadot Ambassador Program is in its early formative stage. Last week, Shawn Tabrizi, a core developer at Parity, suggested that Polkadot DAO should not provide funding for the Ambassador pool in the short term but pay for the work after the ambassadors submit individual proposals.
Shawn believes that to qualify as a chief ambassador, candidates must meet the following requirements:
Commit to the role full-time;
Effectively showcase Polkadot to newcomers and businesses;
Have a deep understanding of the principles behind Web3 technology;
Understand advanced design decisions for Polkadot;
Compare Polkadot with other blockchain technology stacks;
Be familiar with typical user stories such as staking, governance participation, and building parallel chains;
Demonstrate sufficient skills, understanding, and communication abilities;
Work independently with the best interests of Polkadot in mind.
Unfortunately, Shawn speculates that there may be less than 21 people in the Polkadot ecosystem who qualify to be chief ambassadors. So why are there so many chief ambassadors emerging?
Shawn analyzes that this may be due to the Ambassador Declaration suggesting that each chief ambassador will receive a monthly salary of $10,000, even if they take time off, they can still receive $2,000 per month, which has attracted many people to try to join the program. Surprisingly, no candidate is currently requesting to participate in other levels of the Ambassador Program (senior ambassador, ambassador, and associate ambassador) without a monthly salary.
If candidates truly want to participate in the Ambassador Program, they may not initially place themselves in the highest role possible. This would prove that they are not just joining the program to make easy money but are seeking to improve their skills to qualify as a chief ambassador. However, Shawn notes that it is difficult to see who is truly participating in the program for the right reasons and who is trying to take advantage of the chaotic situation.
Therefore, Shawn suggests that Polkadot DAO should not fund the Ambassador Program until clear member organization, expectations, and tangible outputs are seen. Once the organization has better development and operation and provides measurable value to the Polkadot ecosystem, funding can be considered to allow it to operate more independently.
Shawn also raises the point that the Ambassador Program lacks accountability and is collecting views and expectations of the community and Polkadot DAO on ambassadors, details can be found at:
https://forum.polkadot.network/t/next-steps-for-the-ambassador-program/9193
Polkadot Dynamics
【Polkadot OpenGov has reached 1000 public votes】
【Robonomics, a platform combining robotics and IoT technologies, wins the 75th Polkadot slot auction】
【Bifrost successfully renews Kusama network slot for 28 days】
【Polkadot Weekly Update|Polkadot plans to reduce inflation rate from 10% to 8%! Zenlink Eden announces launch!】
According to the latest Polkadot Weekly Update released by PolkaWorld, important events this week include:
1. Polkadot plans to reduce the inflation rate from 10% to 8%? Web3 Foundation research scientist Jonas posted on the Polkadot forum suggesting lowering the annual inflation rate to 8%, with 15% fixed flow into the treasury. Details can be found at:
https://forum.polkadot.network/t/proposal-for-adjusting-polkadots-inflation-system-reducing-issuance-and-complexity/9157
2. Binance has completed the integration of the Polkadot Asset Hub and has opened deposits and withdrawals! Details can be found at:
https://x.com/polkaworld_pro/status/1812788615115837892
3. The Web3 Foundation announces the Scytale Polkadot Ecosystem Fund! The fund is expected to launch on October 1, 2024. With the support of the Web3 Foundation, the fund aims to drive diverse growth in blockchain and crypto startups by investing in new projects within the ecosystem or planning to build on Polkadot. Details can be found at:
https://scytale.digital/blog-posts/scytale-polkadot-ecosystem-fund
4. Polkadot Decoded has ended, but you can watch all the speeches on the Polkadot Events YouTube channel, details can be found at:
https://www.youtube.com/
@PolkadotEvents
5. The Web3 Foundation announces the latest DF grant recipient, Velocity Labs, an ecosystem enabler and risk studio focused on promoting decentralized finance (DeFi) on Polkadot. Details can be found at:
https://x.com/Polkadot/status/1813277429760156071
6. The EasyA x Polkadot Summer Hackathon series will kick off this weekend with a prize pool of up to $40,000. The event will be held in two cities over two weeks, bringing together hundreds of top developers. Details can be found at:
https://x.com/easya_app/status/1813879023044641054
7. PBA provides a great platform for Web3 pioneers to enter the Web3 industry! For the past two years, the Polkadot Blockchain Academy has been dedicated to nurturing talent and driving growth in the Polkadot ecosystem. Details can be found at:
https://x.com/AcademyPolkadot/status/1813508070909100327
8. Join-Accumulate Machine (JAM) will allow dApps to be deployed on Polkadot as rollups without permission. Details can be found at:
https://www.youtube.com/watch?v=yZS06p205yk
9. Kian Parmani (Parity) has written a fantastic article on how JAM works, much simpler than the Gray Paper. Details can be found at:
https://blog.kianenigma.nl/posts/tech/demystifying-jam/
Polkadot Treasury Situation
Referendum 857 is currently voting on a proposal to reduce the minimum balance for USDT and USDC on the Asset Hub to 0.01. Details can be found at:
https://polkadot.polkassembly.io/referenda/857
Referendum 972 has passed and is being implemented to register People Chain on Polkadot. Details can be found at:
https://polkadot.polkassembly.io/referenda/972
Congratulations to Distractive for submitting the 1000th public vote for Polkadot OpenGov! Details can be found at:
https://polkadot.polkassembly.io/referenda/1000
Referendum 1002 is currently voting on a proposal to upgrade Bridge Hub to runtime v1.2.8. Details can be found at:
https://polkadot.polkassembly.io/referenda/1002
Kusama Treasury Situation
Referendum 416, proposing to increase max_validators to 500 and max_validators_per_core to 5, has passed and been implemented, details can be found at:
https://kusama.polkassembly.io/referenda/416
Referendum 418 is currently voting on a proposal to add PolkaIdentity as a registrar for Kusama. Details can be found at:
https://kusama.polkassembly.io/referenda/418
Ecosystem Big News
【Astar Network announces that the Black Card NFT for HEAL3 is now live on the Sonova platform, allowing users to mint it for free.
CESS has upgraded its DeShare URL generator tool for file storage and sharing, supporting more file formats for link generation and storage. The tool requires no login, registration, crypto wallet, or assets, and ensures permanent storage. For details, visit: [https://x.com/CESS_Storage/status/1813506425907540382](https://x.com/CESS_Storage/status/1813506425907540382).
Centrifuge declares that CFG now supports Polkadot Ledger functionality, compatible with wallets such as SubWallet, Talisman, and Nova Wallet.
Deeper Network has released its bi-monthly report for May and June, covering firmware upgrade 1.2.10.rel, development progress on the Deeper hardware wallet, and upcoming UI enhancements. For details, visit: [https://x.com/deeper_network/status/1813609694973264301](https://x.com/deeper_network/status/1813609694973264301).
Energy Web X has launched a new version of its application, enhancing green certificate functionality, increasing deposit pledging amounts, and updating the UI. For details, visit: [https://x.com/XEnergyWeb/status/1812803200266715556](https://x.com/XEnergyWeb/status/1812803200266715556).
Moonsama has published the official Alpha test leaderboard for its open-world MMORPG game Dremica. For details, visit: [https://x.com/MoonsamaNFT/status/1812827353053057287](https://x.com/MoonsamaNFT/status/1812827353053057287).
Moonbeam Network has successfully implemented Asynchronous Backing, reducing block time to 6 seconds and significantly improving network throughput and user experience.
Nova Wallet has released update v8.2.0, allowing users to add and manage any Substrate or EVM network.
PolkaBot.AI announces the upcoming IPO for its first Paranet issuance, providing a decentralized AI system on the OriginTrail network governed by NeuroWeb.AI, fostering growth through community voting and incentives.
Polkadot Decoded 2024 conference has officially concluded, and all keynote speeches are now available on the Polkadot Events YouTube channel. For details, visit: [https://x.com/paritytech/status/1812807198684152227](https://x.com/paritytech/status/1812807198684152227).
Parity core developer Kian Paimani has published an article detailing the evolution from Polkadot 1.0 to Polkadot 2.0 and the upcoming JAM framework, aimed at aiding parachain teams and new developers’ understanding of JAM. For details, visit: [https://x.com/kianenigma/status/1812789950741381567](https://x.com/kianenigma/status/1812789950741381567).
Pendulum has released its Q2 2024 ecosystem summary, highlighting milestones such as the Forex AMM testnet launch, Stellar and Polkadot integration via Spacewalk, and a 50,000 DOT vDOT staking proposal. For details, visit: [https://x.com/pendulum_chain/status/1813176559181963620](https://x.com/pendulum_chain/status/1813176559181963620).
SubQuery announces its support for perpetual contract DEX dYdX.
SORA releases version v1.0.23 of its ADAR platform on SORA, simplifying batch payment processes with added exchange rate fields, optimized exchange dialogs and statistics panels, among other updates. For details, visit: [https://x.com/sora_xor/status/1814283144452886712](https://x.com/sora_xor/status/1814283144452886712).
StellaSwap announces the upcoming launch of BRLA, an audited stablecoin pegged to the Brazilian real, on Moonbeam, accompanied by GLMR incentives. For details, visit: [https://x.com/StellaSwap/status/1813601764123295921](https://x.com/StellaSwap/status/1813601764123295921).
Zenlink Eden has officially launched on Moonbeam Network, offering an unpermissioned revenue market that allows users to tokenize revenue assets into Standard Yield Tokens (SY), Principal Tokens (PT), and Yield Tokens (YT).
The Polkadot Blockchain Academy reports that among its first four cohorts, 36 founders, 11 Fellows, 4 Chief Ambassadors, and 14 Decoded 2024 speakers are actively contributing to the Polkadot community, with 58% of graduates engaged full-time or part-time in building the Polkadot ecosystem. For details, visit: [https://x.com/AcademyPolkadot/status/1813508070909100327](https://x.com/AcademyPolkadot/status/1813508070909100327).
The Polkadot official and EasyA co-sponsored Summer Hackathon will take place this weekend in London and Harvard University, offering a $40,000 prize pool. For details, visit: [https://x.com/Polkadot/status/1813945247933911346](https://x.com/Polkadot/status/1813945247933911346).
Polkadot Devs has launched the Asset Hub webinar series, discussing issues related to user experience fragmentation within Polkadot’s heterogeneous multi-chain ecosystem every Wednesday at 10 p.m. Beijing time. This week’s theme is “Fragmentation Issues in User Experience in Polkadot as a Heterogeneous Multi-Chain Ecosystem.” For details, visit: [https://x.com/Polkadot/status/1813542601544376492](https://x.com/Polkadot/status/1813542601544376492).
The DePIN project Kaisar Network, which provides peer-to-peer GPU resources for AI projects, has joined the peaq ecosystem to build a smart contract-based reputation management mechanism and other functionalities.
Ecosystem Collaborations:
– Ava Protocol announces a partnership with liquidity re-staking protocol Kelp DAO, which will operate as an operator on its EigenLayer AVS mainnet.
– Crust Network announces a partnership with Xcavate to enhance trust and transparency in real estate tokenization using Crust’s decentralized storage solution.
– CESS establishes a strategic partnership with BITTON and launches user interactive activities.
– Litentry announces a collaboration with BitYuan and its Elf Party game Season 3, initiating activities and rewards post-game launch on July 22.
– pea…
Upcoming Events:
– Mandala Chain announces the Polkadot Championship Hackathon sponsored by Polkadot official and organized by CCTF, taking place on August 19-20 in Bali with limited participation of 100 attendees. For details, visit: [https://x.com/MandalaChain/status/1814066151456199014](https://x.com/MandalaChain/status/1814066151456199014).
– The 2024 Web3 Summit will return to Berlin, Germany, from August 19-21, with speeches and workshops now open for applications. For details, visit: [https://twitter.com/Web3summit/status/1763162673540161783](https://twitter.com/Web3summit/status/1763162673540161783).
– Polkadot official and Mandala Chain become the title sponsors of the Web3 Coinfest Asia 2024, aimed at fostering Asian Web3 innovation, scheduled for August 22-23 in Bali. For details, visit: [https://x.com/CoinfestAsia/status/1800860341448102338](https://x.com/CoinfestAsia/status/1800860341448102338).
