2 New Polka Dot DeFi Projects - (The PolkaDot Ecosystem Is Expanding)

Polkadot Defi Ecosystem is growing. Polka Dot DeFi Projects unites the entire network of multiple blockchains into one decentralized ecosystem.

While supporting a transparent, easy cross-chain communication and customization of blockchains.

That’s why polkadot a very powerful tool for building projects

Polkadot connects multiple blockchains together, in order to ease and enhance decentralized apps building.

Together with all connected parachains it creates a scalable multichain.

“Polkadot is a sharded blockchain, meaning it connects several chains together in a single network, allowing them to process transactions in parallel and exchange data between chains with security guarantees”.

The Polkadot ecosystem could rival Ethereum in the future, but more importantly could also complement it.

Polkadot, which launched its mainnet in May, is a third-generation blockchain that is more scalable than Ethereum 1.0.

Its scalability derives in part from allowing projects to deploy their own blockchains—so-called “parachains” with smart contract functionality, which connect to the main Polkadot “relay chain.”

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Currently Polkadot is not only cheaper and faster than Ethereum, it’s interoperable with other blockchains.

No surprise that Polkadot is attracting new developers to its platform

Some 277 projects are in the works—from bridges to Bitcoin and Ethereum to those building out Polkadot’s decentralized ecosystem

And today I want to talk about two dots that I think will help the polkadot defi ecosystem connecting the dots of

A token minting system is coming to the Polkadot blockchain ecosystem,

POLIMEC or Polkadot Liquidity Mechanism.

Polimec (Polkadot Liquidity Mechanism) allows the issuance and transfer of multiple cryptocurrencies directly on a dedicated blockchain. The Polimec blockchain (like Polkadot, Kusama, and many others) is built with Parity’s Substrate framework; other Substrate-based blockchains can utilize Polimec to issue tokens and make them available to the market, even before their own network goes live.

In that way Polimec serves a similar purpose for the Polkadot ecosystem as the ERC20 contracts do for the Ethereum ecosystem.

It’s a fundraising mechanism for projects within the Polkadot ecosystem, essentially a version of Ethereum’s ERC-20 token standard, the mechanism that helped launch thousands of token sales in the past five years.
Polimec does not have a native currency, which allows for very stable and relatively low gas prices. Like on a mainnet, the gas is paid in the currency, which is actually transferred.


In this video:
Powering the Polkadot network
The DOT token serves three distinct purposes: governance over the network, staking and bonding.

Dr. Gavin Wood
Gavin began originating blockchain technology as co-founder and CTO of Ethereum. He invented fundamental components of the blockchain industry, including Solidity, Proof-of-Authority consensus, and Whisper. At Parity, Gavin currently leads innovation on Substrate and Polkadot. He coined the term Web 3.0 in 2014 and serves as President of Web3 Foundation.


Robert Habermeier is a Thiel Fellow and co-founder of Polkadot.

Peter Czaban
Peter is the Technology Director of the Web3 Foundation, where he works on supporting the development of the next generation of distributed technologies.

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