Polkadot has announced details of its IPO plans for the "First Parachain Issuance", with half of the Parachain slots being guaranteed by DOT holders.

2020-10-7 10:17
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Public broadcaster Polkadot (DOT) announced the details of the implementation of its "original Parachain Issuance" IPO plan on its official blog, claiming that half of the Parachain slots will be pledged by the DOT holding. The mission of the “First Parachain Issuance” IPO is to develop blockchain and distribution applications on the Polkadot network, thereby improving the scalability and transparency of the blockchain. Polkadot added that the difference between the actual Parachain contract price and the Parachain contract is that the actual Parachain price is more accurate than the unsecured DOT price because the contract can be repaid at the end of the loan period. It has already been reported that Jack Platts of the Web3 Foundation has announced "Initial Parachain Offering", a new concept in the Polkadot ecosystem. Here is the whole process of using DOT to create Parachain slots on smart contracts. For some companies that hope to become Parachain but do not have enough DOT tokens, they will become Parachain slots during the IPO.

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