27.05.21

Polkadot waiting for auctions

Polkadot waiting for auctions

Polkadot is a blockchain platform in which blockchain networks (parachains) are built and combined into a single, unified network. The base network (relay chain), which contains no smart contracts, serves as a security guarantee given that its sole task is to provide security to parachains.

There is yet another deflationary factor apart from staking. To occupy a slot, a project must win an auction. Slots are awarded for certain time intervals: six months, one year or two years. Developers must buy DOTs to take part in an auction.

There exists another method to borrow funds. Users can rent out their DOTs to a project and receive parachain tokens in return. Users can reclaim their DOTs after the rental period.

Support lies in the $17-19 range. While the price holds above $12,50, we remain bullish. Our short-term target is near $31,50. Our long-term target is $70.

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