• Tue. Feb 27th, 2024

Polkadot and Kusama are Getting a Multimillion-Dollar Injection for Starting a DApps Ecosystem

Christian Klausen

ByChristian Klausen

Jun 15, 2021

Stake Technologies Inc. is a core Defi protocol developer focused on Web 3.0. The decentralized technology enterprise provides organizations with the ability to secure their data and perform migration at their discretion. Two major daughter companies Plasm Network and Shiden Network, are wholly owned by Stake Technologies. The enterprise has undertaken prioritized development projects for Polkadot and Kusama.

Polkadot is a cryptocurrency and a blockchain project used for the transfer of messages and value. Kusama is Polkadot’s Canary Network which is comprised of specialized blockchain. Stake Technologies has received funding and support from more than a dozen noteworthy organizations for starting the project for these blockchain projects, including some angel investors. 

Stake Technologies to Introduce a Parachain Lease Offering (PLO) for Building Secondary Layer Projects

Stake Technologies Inc. has undertaken an optimistic project to create better DApps ecosystems for blockchain technology networks. The Web 3.0 developers are starting with a $10 million capital that has been raised to show support and promise of the said project. As announced by Polkadot and Kusama, the Plasma Network and Shiden Network would be dedicated for each network, respectively. 

With the help of organizing a crowd loan-centric strategy, the Shiden parachain lease would be secured by Stake Technologies. This is one of the two routes for securing a parachain slot. Another way to arrive at the same end product would be to make arrangements for a direct sale. Both Plasma and Shiden Network would be deployed as DApps hub for blockchain projects in question. In turn, Polkadot and Kusama could be transformed into a cross-chain asset gateway for various networks and parachains. 

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One of the highly anticipated events of these projects is the Kusama Parachain Auction. The final winner would be selected by Kusama Council. Gavin Wood, a member of the Council, has prepared a tentative schedule for events to take place this week. The team members at Kusama are certain that the network is ready to host parachains and has gotten rid of all malfunctions and glitches. 

Among the project’s biggest supporters are names like Hypersphere Ventures, TRG Capital, Gumi Cryptos, IOSG Ventures, and Fenbushi Capital. Meanwhile, the former CEO of Sony Nobuyuki Idei also took part in the capacity of an angel investor. Due to the multi-blockchain nature of the development, Kusama and Polkadot may become the focal point for all other parachain projects in the future.

Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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