The post Some of the Recent Major Developments appeared on BitcoinEthereumNews.com.

TL;DR Polkadot has partnered with Heroic and introduced Deloitte’s KYC credential solution through the Polimec Protocol. The community also plans to allocate 3 million DOT tokens to support DeFi activities. Despite these advancements, Polkadot’s cryptocurrency DOT has declined by 10% weekly, but some analysts are optimistic about its future potential. What’s New Around Polkadot? Polkadot continues to make waves due to significant advancements related to its ecosystem and important partnerships.  Earlier this month, the open-source games launcher Heroic teamed up with the blockchain protocol. As a result, the Polkadot brand will be incorporated into the Heroic jersey design and live stream overlays. “This collaboration will also bring a fresh wave of excitement to the esports community with fan activations, community-engaging events, exclusive prizes, giveaways, and much more,” the announcement reads. Shortly after, Polimec Protocol (a decentralized, community-driven funding platform) introduced Deloitte’s “groundbreaking” know-your-customer (KYC) credential solution to Polkadot as a DF grantee. Those credentials are built on Kilt Protocol (one of Polkadot’s parachains) and leverage advanced infrastructure capabilities. Last but not least, the Polkadot community plans to allocate 3 million DOT tokens (equaling almost $20 million at current rates) to support DeFi activity in the ecosystem. One million assets are supposed to be distributed to liquidity mining incentives, while another million is designated for non-custodial liquidity in Omnipool.  Omnipool is a unique liquidity pool model developed by HydraDX. It aims to facilitate the efficient and seamless trading of multiple assets within a single pool.  The remaining one million DOT coins should foster the development of StellaSwap – a decentralized exchange (DEX) built on the Moonbeam network, which is part of the Polkadot ecosystem. Prior to those advancements, Polkadot Blockchain Academy (PBA) unveiled its fifth cohort in Singapore. The initiative is designed to nurture developer talent in the city-state and deliver…

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Filed under: News - @ June 14, 2024 10:14 pm