The Astar project won Polkadot’s third parachain auction slot. To support it, users locked up about 10.33 million DOT with a total value of around $373.14 million.
Congratulations to @AstarNetwork on winning Polkadot’s third auction!
Astar will be onboarded at block #8179200 [Dec. 18] at the beginning of lease 6 with the other first 5 auction winners. Over 27.1K network stakeholders locked up DOT in favor!https://t.co/ZFSzeAhc4x pic.twitter.com/mABXLeRnKh
— Polkadot (@Polkadot) December 2, 2021
Astar is a Polkadot-based smart-contracts platform designed to become a hub for decentralized applications.
The project was previously known as Plasm Network. In February 2021 it raised $2.4 million from a group of investors led by the blockchain incubator Binance Labs.
Support for Astar came from more than 27,000 DOT holders. The slot lease period for the project will begin after the final parachain auction round ends and will run from December 17, 2021 to October 20, 2023.
A network snapshot to determine the third winner was taken on November 30. At the time of the snapshot, 9,459,274 DOT were locked in favor of Astar. In support of its nearest rival — Parallel Finance — 114,364 DOT fewer were locked.
Earlier, the first winner of Polkadot’s parachain auction was the Acala project. In the second round, Moonbeam won.
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