Novel Substrate-based cryptocurrency exchange secured Polkadot (DOT) parachain slot with largest crowdloan
With a secure parachain slot, Substrate-Centric Polkadex (PDEX) aims to become the go-to cross-network exchange for the DeFi and Web3 eras.
Polkadex (PDEX) secures Polkadot (DOT) parachain with record-breaking crowdloan
According to the official announcement shared by Polkadex (PDEX), on May 6, 2022, its platform secured a parachain slot on the 16th Polkadot (DOT) auction.
Over 6,000 Polkadex (PDEX) supporters have contributed 973,324 DOT tokens, which equates to $13,800,000 by press time. As such, Polkadex (PDEX) has earned its parachain spot thanks to the largest equity loan in Batch 3.
Due to seamless interoperability between the products of the Polkadot (DOT) ecosystem, Polkadex Orderbook and Polkadex’s stack of instruments will be available to all tokens of other parachains. As such, Polkadot (DOT) receives its first-ever cross-chain noncustodial crypto exchange with AMM.
Polkadex COO Deepansh Singh highlights the importance of his platform’s upcoming mainnet launch to the Polkadot (DOT) scene and cross-network interoperability as a whole:
Thanks to the Polkadex parachain we will be able to bridge assets with the Dotsama ecosystem and now users will be able to trade Polkadot ecosystem tokens from across the whole spectrum of parachains. This is a first for Polkadot and a first for DeFi as a whole.
Additional bonuses and rewards will be distributed among supporters
When the protocol reached the initially fixed market capitalization, its supporters received a guaranteed 2 PDEX for each DOT token contributed. Two million PDEXs, or 10% of its aggregate supply, have been allocated to this initiative.
In addition, the top 1,000 crowdloan contributors will receive an exclusive utility-based NFT. These NFTs will ensure discounted trading fees for Polkadex (PDEX) once it goes live on Polkadot’s mainnet.
Dagmara Handzlik, Head of Marketing at Polkadex, is excited about a crucial milestone Polkadex (PDEX) has accomplished in securing a parachain niche:
We’re extremely proud of the way the Polkadex community led the charge during the Crowdloan campaign, especially during the week of the auction. Polkadex is proof of how important a strong community is to the overall success of a project and we could not be more excited to deliver the products we have been building with the eager support of Polkadexers.
During its parachain slots campaign, Polkadex (PDEX) has partnered with leading DeFi like Parallel Finance and Equilibrium as well as top CEX like KuCoin.
