{"id":56792,"date":"2022-01-28T17:44:23","date_gmt":"2022-01-28T15:44:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56792"},"modified":"2025-09-04T08:15:42","modified_gmt":"2025-09-04T05:15:42","slug":"polkadot-parachain-auction-winner-raises-22-million-from-polychain-and-others","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/polkadot-parachain-auction-winner-raises-22-million-from-polychain-and-others\/","title":{"rendered":"Polkadot parachain auction winner raises $22 million from Polychain and others"},"content":{"rendered":"<p>The Polkadot-based smart contract platform Astar (formerly Plasm Network) has raised $22 million in a strategic funding round. It was led by venture firm Polychain Capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Amazing news!! We are excited to announce a $22M fundraise with participation from <a href=\"https:\/\/twitter.com\/polychain?ref_src=twsrc%5Etfw\">@polychain<\/a>, Dr. Gavin Wood, <a href=\"https:\/\/twitter.com\/AlamedaResearch?ref_src=twsrc%5Etfw\">@AlamedaResearch<\/a>, <a href=\"https:\/\/twitter.com\/AlchemyPlatform?ref_src=twsrc%5Etfw\">@AlchemyPlatform<\/a>, <a href=\"https:\/\/twitter.com\/cryptocom?ref_src=twsrc%5Etfw\">@cryptocom<\/a>, and other great investors.<\/p>\n<p>We will create a multi-chain smart contract hub and Web3.0\ud83d\ude80<a href=\"https:\/\/t.co\/sNgecVsslS\">https:\/\/t.co\/sNgecVsslS<\/a><\/p>\n<p>\u2014 Astar Network \u2014 Multichain Smart Contract Hub (@AstarNetwork) <a href=\"https:\/\/twitter.com\/AstarNetwork\/status\/1487034215354884100?ref_src=twsrc%5Etfw\">January 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Funding was also provided by Alameda Research, Crypto.com Capital, Digital Finance Group, and several angel investors.<\/p>\n<p>The Astar team is working with Parity Technologies on WebAssembly (WASM) integration to enable support for a second virtual machine. The protocol currently supports only the Ethereum Virtual Machine (EVM).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAstar is behind a highly competitive proposition for new developers in the Polkadot space, and we are excited to collaborate with them. The project aims to include additional WASM-compatible languages into the EVM. It should help attract developers to a much larger number of programming languages, and their platform <a href=\"https:\/\/docs.astar.network\/build\/dapp-staking\">dApp Staking<\/a> represents an innovative approach to bootstrapping and financing an emerging ecosystem,\u201d said Ben Pershik, a partner at Polychain Capital.<\/p>\n<\/blockquote>\n<p>In December 2021 <a href=\"https:\/\/forklog.com\/en\/news\/polkadots-third-parachain-auction-ends-astar-wins\">Astar won the auction for the third parachain slot on Polkadot<\/a>. About 10.33 million DOT were locked in its favor, with a total value of around $373.14 million at the time.<\/p>\n<p>The project has the backing of more than 27,000 DOT holders. The lease period for the Astar parachain slot will run until October 20, 2023.<\/p>\n<p>In February 2020, then-Plasm Network <a href=\"https:\/\/forklog.com\/en\/news\/binance-labs-leads-2-4-million-funding-round-for-plasm-network\">attracted $2.4 million from the blockchain incubator Binance Labs<\/a> and other investors.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polkadot-based smart contract platform Astar (formerly Plasm Network) has raised $22 million in a strategic funding round led by Polychain Capital.<\/p>\n","protected":false},"author":1,"featured_media":56793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1461,849,1133],"class_list":["post-56792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-polkadot-dot","tag-polychain-capital","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"47","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=56792"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56792\/revisions"}],"predecessor-version":[{"id":56794,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56792\/revisions\/56794"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/56793"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=56792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=56792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=56792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}