- The 12th auction on Kusama is set to commence on October 23.
- The staking rate on Polkadot has dropped to 58.5%; it has relatively stayed constant for Kusama at 42.8%.
- Kraken announced support for Parachain auctions.
- The platform empowered clients to invest $35 million in Kusama auctions.
- The DOT founder recently announced a $774 million development fund for DeFi.
Digital asset managers have reported a rise in the institutional capital inflow in Polkadot as the overall cryptocurrency market capitalization climbs higher. A Polkadot founder announced $774 million dedicated for developing DeFi projects.
Polkadot is a top choice among institutions, investment flow in DOT spikes
Over $80 million in institutional investment flowed into cryptocurrency funds last week. Of the $80 million, $3.6 million was dedicated to Polkadot products.
Institutional inflow by assets as of October 15, 2021.
The Polkadot ecosystem has been abuzz with new updates since the announcement of the Parachain launch. The 12th Kusama auction is set to go live on October 23. The new proposal on Kusama aims to schedule 1 auction per week for the next 48 weeks. Winning parachain projects will be onboarded at the beginning of the following lease period as per the proposal.
Based on the community's response to the Polkassembly post "The Case For Continuous Auctions", a council member submitted a motion for council to vote on scheduling the next auctions. If passed, the first auction will be at block #9777777 [Oct. 23, 2021].https://t.co/Av8OpeMxY8
— kusama (@kusamanetwork) October 18, 2021
