In Brief:
- Acala secured the first slot on the much awaited Polkadot’s parachain auctions.
- Acala won the slot after beating its competitor Moonbeam in the auction.
Acala, an Ethereum-compatible DeFi protocol for scaling DApps, has “won the first slot on the much awaited Polkadot’s parachain auction”, as per an announcement made by the firm.
The winner was decided by the candle auction process, which selects a block from the past seven days (randomly), wherein Acala had been in the lead.
On Thursday, towards the end of auction, Moonbeam had gathered the most over $1.36 billion, from its community counting upto 46,000. However, Acala was in the lead for most of the time. Thus, making it easier for Acala to secure the slot, even though it only took in $1.30 billion(or 32M DOT). Acala raised its funds from 81,000 wallets.
This opening batch of five Polkadot parachains will be auctioned off by mid-December and then all the projects will go live simultaneously on December 17.
Moreover, the auction made some interesting data revelations. The data insights include that one participant is responsible for around 40% of all Polkadot contributions, as per SubQuery, Polkadot data indexing service. Project leads say major exchanges participating in the crowd-loan process seem to have “grouped individual users into a central wallet”. As a result of which large contributors pitched in.
Notably, in October, Polkadot had witnessed a hike of 20% as soon as it had announced about Parachain.
It is worth noting that the second Polkadot parachain auction is under way, with the spot up for leasing for the next two years. As of now, it is projected that Moonbeam, an Ethereum (ETH) compatible smart contract platform which is designed for building interoperable applications, might win the auction.
