{"id":277,"date":"2021-12-12T13:21:09","date_gmt":"2021-12-12T13:21:09","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=277"},"modified":"2021-12-12T13:21:10","modified_gmt":"2021-12-12T13:21:10","slug":"parallel-finance-wins-polkadots-fourth-parachain-slot-auction-with-300-million-raised","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=277","title":{"rendered":"Parallel Finance wins Polkadot\u2019s fourth parachain slot auction with $300 million raised"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n <\/p>\n<p>Parallel Finance announced winning Polkadot\u2019s fourth parachain slot, with contributions totaling 10,75 million DOT\u2013equating to roughly $300 million.<\/p>\n<p>In order to win the auction, contributors and investors vote by staking Polkadot\u2019s native cryptocurrency, and with more than 30,000 supporters, the DeFi lending protocol secured its place in the expanding ecosystem.<\/p>\n<h2><strong>Parallel Finance secures its lease<\/strong><\/h2>\n<p>Parallel Finance joins the league of Polkadot parachain slot auction winners\u2013Acala, Moonbeam, and Astar.<\/p>\n<p lang=\"en\" dir=\"ltr\">1) Parallel won the 4th slot with 10.75m $DOT contributed! Over 30k contributors supported Parallel\u2019s parachain @Polkadot auction! pic.twitter.com\/0UJQlWO6mw<\/p>\n<p>\u2014 Parallel Finance (We are hiring) (@ParallelFi) December 9, 2021<\/p>\n<p>The lending protocol surfaced as the third-largest DOT contributor to Polkadot parachain auctions\u2013ahead of Astar, which won the third Parachain auction by raising 10,33 million DOT.<\/p>\n<p>In the first and second parachain auction Acala and Moonbeam raised 32,51 million DOT, and 35,75 million, respectively.<\/p>\n<p>Parallel Finance will be onboarded at block #8179200 on December 18,\u00a0 at the beginning of lease six with the other first five auction winners.\u00a0<\/p>\n<p>Polkadot parachains are individual, but interconnected Layer-1 blockchains.\u00a0<\/p>\n<p>Connected to and secured by the main relay chain via slots, parachains benefit from Polkadot\u2019s security, scalability, interoperability, and governance.<\/p>\n<p>Slots on the relay chain are leased for up to 96 weeks at a time\u2013with the renewal option.\u00a0<\/p>\n<h2><strong>New financial primitive for staked DOT<\/strong><\/h2>\n<p>Parallel Finance (PARA) represents three decentralized Polkadot-powered protocols\u2013leveraging lending\/borrowing, staking, as well as fundraising products.\u00a0<\/p>\n<p>The platform\u2019s new financial primitive for staked DOT, xDOT, enables users to earn income\u2013without lockups and long unlock periods.<\/p>\n<p>Parallel Finance launched in April\u2013backed by high-tier VCs, including Alameda Research, Sequoia, and Blockchain Capital, to name a few.<\/p>\n<p>Ahead of Polkadot\u2019s first round of parachain slot auctions, Parallel Finance launched the first DOT permissionless crowdloan product \u2018Auction Loan\u2019\u2013\u201cto give users the best liquidity and rewards for crowdloan contributions.\u201d\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">5) For Parallel\u2019s crowdloan, Nearly 80% of all contributions (8.54M DOT) came directly from Parallel\u2019s Auction Loan product! pic.twitter.com\/MzaWVs3etG<\/p>\n<p>\u2014 Parallel Finance (We are hiring) (@ParallelFi) December 9, 2021<\/p>\n<p>In the case of Parallel\u2019s crowdloan\u2013nearly 80% of all contributions (8,54 million DOT) came directly from its \u2018Auction Loan\u2019 product.<\/p>\n<p>Posted In: Polkadot, Parachains <\/p>\n<p><h2>CryptoSlate Newsletter<\/h2>\n<\/p>\n<p>Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.<\/p>\n<h2>Get an edge on the cryptoasset market<\/h2>\n<p>Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/parallel-finance-wins-polkadots-fourth-parachain-slot-auction-with-300-million-raised\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Parallel Finance announced winning Polkadot\u2019s fourth parachain slot, with contributions totaling 10,75 million DOT\u2013equating to roughly $300 million. In order to win the auction, contributors and investors vote by staking Polkadot\u2019s native cryptocurrency, and with more than 30,000 supporters, the DeFi lending protocol secured its place in the expanding ecosystem. Parallel Finance secures its lease [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=277"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/277\/revisions"}],"predecessor-version":[{"id":279,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/277\/revisions\/279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/278"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}