OEC OKEx: The Boca Parallel Chain Auction is about to open, which forces are ready to go?

Oyi OKEx: Boca parallel chain auction is about to open, which forces are ready to go?"

Originally written by Oyi OKEx

Parallel chain auction is on the verge of breaking out, boka ecology is lively.

According to the latest official news, Rococo has launched StateMint, a public service parallel chain, and started to issue test assets. Acala, Zenlink, Chainx, Bifrost and other projects have launched test tokens on StateMint.

And this is just the prelude. According to the plan, Kusama and Boca mainnet will open parallel chain auction successively, which will not only attract more project parties to participate in the competition, but also attract many institutions and investors to enter the field to witness this industry event.

The market has long sensed this: the DOT has peaked at $48.381 since the start of the year around $8, while the KSM has recently broken a series of new highs, becoming one of the few bright spots in a volatile market.

On the other hand, in the primary market, Boca ecological projects are frequently financed, accounting for almost half of the total market financing. The various funds preoccupy the layout, together with many emerging projects, to become an important builder of boka ecology.

OKEx BlockDream Ventures is one of them. As the investment brand of OKEx, the fund has successively invested in more than 10 Boca ecological projects since its establishment at the beginning of this year, including the parallel chain socket of Rococo test network, Bifrost and the recently burning Dora &NBSP. The Factory.

Part of OKEx BlockDream Ventures

For the project party, with the support of OKEx Blockdream Ventures and other organizations, it can get both capital and resource support at the same time. In the short term, it can participate in the parallel chain auction and in the long term, it can better participate in the Boca ecological construction.

On the eve of parallel chain auction, we may wish to re-examine the cross-chain leader of boka, and also comb the important promoter of boka ecology.

Why does Boca's ecology continue to thrive?

Outside of Ethereum, which public chain is the most anticipated? The answer, of course, is Boca.

As a cross-chain leader, Boca has always been regarded as the representative of "Blockchain 3.0", which is responsible for the interconnection of ten thousand chains. Although its network architecture of "relay chain + parallel chain" has not been really operational, the price of token DOT has gone up sharply.

DOT market trend (source: OKEx)

According to OKEx, DOT has accelerated its upward trend since December last year, rising to $48.381 on April 17 this year, up more than 10 times in three months, and once entered the fourth place on the list of global cryptocurrency market value, next only to BTC, ETH and USDT.

Dora, founder of Okex Blockdream Ventures, attributes Boca's popularity to three key factors:

1. The prospect of cross-chain network is promising

Compared with Ethereum, the two-layer structure of Poca trunk chain and parallel chain can provide stronger capacity expansion capability, while Substrate development architecture can significantly reduce the development cost and difficulty of public chain to achieve "one-click chain development".

In addition, Poca can bridge the Bitcoin and Ethereum networks to achieve the cross-ecological transfer of assets, with strong compatibility, which is expected to break the information island between different blockchains.

2. Strong team development capability

Gavin Wood, the founder of Boca, was once a co-founder of Ethereum. He was the developer of the C++ version of Ethereum client prototype. He completed the writing of Ethereum Beige Book and invented Solidity language designed for smart contract development.

The Boca founding team, with Gavin Wood in the center

In addition to Gavin Wood, the other two founders, Robert Habermeier and Peter Czaban, also have a strong research and development background, rich experience in blockchain development, and have a certain appeal in the industry. With the support of the Web3 Foundation for Boca Ecology, more and more excellent developers have joined the Boca community.

3. Boka's ecology is improving day by day

Compared to other crypto projects, Boca goes one step further in terms of ecological construction.

According to PolkaProject, there are currently more than 428 Poca Eco projects, covering the fields of underlying technology, wallet, prophecy, NFT, DAO, DEFI, Internet of Things, and games, among which 143 projects are released based on Substrate, accounting for nearly 33.4%.

Source: PolkaProject

At the end of 2020, Gavin Wood revealed in his year-end review that some of the numbers directly confirmed the boom: the Rust codebase had more than 500,000 lines of code; Already, Substrate has more than 2,600 developers on its technology channel, a nearly threefold increase since the beginning of 2020; In total, more than $14 million has been allocated to more than 200 grants...

These figures are exactly the focus of investment institutions. According to Dora, OKEx Blockdream Ventures has been focusing on popular public chain ecological projects since its establishment, and Boca is one of the few valuable public chains. The cross-chain ecosystem built around Boca is worth looking forward to, and it will continue to explore the "top students" in Boca's ecosystem in the future.

There are, of course, external considerations for investors to lay out Boca Racetracks. According to Dora, the current development of Defi into the deep water zone and the acceleration of NFT are amplifying the performance bottlenecks of Ethereum to a large extent, in ETH  2.0 is far away, boka and other emerging public chain is expected to rise, and the current bull market is still continuing, there will be more funds injected into boka ecology.

Parallel chain auction became the biggest hot spot

If Boca Ecology is a fire, the parallel chain auction that is about to begin is a barrel of oil, and the combination of the two promises great chemistry.

What exactly is a parallel chain auction? Simply understood, Poka consists of a relay chain, a parallel chain, and a transfer bridge. If Poka is compared to a plug-in row, then computers, refrigerators, washing machines and other appliances are equivalent to a parallel chain, and the socket on the plug-in row is a parallel chain slot. Different electrical appliances can not only operate independently, but also share plug and arrange resources.

Because the operation of parallel chains needs to consume network resources, the number of parallel chains is limited at the initial stage. To ensure fair distribution, Boca allowed the project's owners to bid for slots.

Project parties need to lock in a certain amount of DOT to bid, in order to obtain the right to use. This portion of DOT can be purchased on the secondary market or raised from investors. The locked DOT will not be unlocked until the lease period is over.

According to Dora, founder of OKEx Blockdream Ventures, being one of the first parallel chains not only gives them priority in sharing the Boca ecosystem, but also allows them to gain a lot of market attention for later development, so most projects reward their backers with their tokens. To raise more money.

Some investors have long been acutely aware of the opportunities and have been hoarding KSM and DOT since last year. Now that parallel chain auctions are on the horizon, how can these investors use their coins to support projects and get rewarded?

Dora highlighted two ways. One is to directly put your tokens into smart contracts with the help of the pledge tool in Boca Ecology, with a relatively high operating threshold. Second, with the help of the related services launched by the centralized exchange, such as the card slot auction service to be launched by OEE-OKEX, users can directly lock their DOT positions for the supported and favored projects, which is relatively simple to operate.

Either way, the drama investors are hoping for is getting closer. On April 7th, Kusama officially launched its Parallel Chain Auction webpage, which explains in detail what Kusama's Parallel Chain Auction is, how to participate and more common questions. On April 23, Rococo launched StateMint, a public parallel chain, and started to launch test assets. Acala, Zenlink, Chainx and Bifrost have launched test tokens on StateMint.

Various signs indicate that the parallel chain auction of Boca ecology is about to start, and a new round of wealth effect is expected to be ignited.

What are the driving forces?

The success of Boca Ecology is not only due to the efforts of the Web3 Foundation and the founding team, but also due to the combined efforts of the entire market. In general, these forces fall into the following categories:

1. Crypto funds

Since 2020, with the launch of the main network of Boca, the investment of Boca ecological project has become an important direction. No matter the top institutions, or emerging capital, are in a steady stream of bets on this track.

As a newcomer to the track, OKEx Blockdream Ventures is late to the game, but already has a lot going on. According to founder Dora, the fund has been exploring the star projects of Boca Ecology through various channels since the beginning of the year, and has invested in more than 10 projects so far.

Like other organizations, OKEx BlockDream Ventures is willing to provide resources and services to quality projects, to provide value for their development, and to accompany and witness the birth of blockchain killer projects. OKEx BlockDream Ventures, on the other hand, is working with project investors to help the ecosystem and traffic growth of the exchange.

"For high quality projects, the OKEx platform resources and traffic can quickly help the project development, quickly gain market attention and improve their brand awareness." "Dora explained.

Some of the Boca Eco projects backed by OKEx BlockDream Ventures have already issued tokens on exchanges, according to public filings, with prices as high as 80 times the public offering price, a sign of the market's attention.

2. The exchange

The exchange is the largest flow entrance of the whole market, and it is natural to follow up with Boca Ecology. At present, most exchanges, including OEC OKEx, have launched Boca Ecology Zone, which is convenient for investors to arrange Boca Ecology Project.

Source: OEYI OKEX official website

It is worth noting that, in addition to the conventional OKEx, OYI also on-line DOT, KSM and other currencies locked warehouse mining products, to help investors obtain mining income at a low threshold. Okex Blockdream Ventures, part of the exchange, continues to explore and invest in high-quality projects within the Boca ecosystem.

Next, with the opening of the Boca Ecosystem Parallel Chain Auction, the major centralized exchanges are expected to set up the token pledge entrance, connecting the project parties and supporters participating in the auction.

3. Industry media, KOLs and communities

As a foreseeable event in 2021, the industry media, KOLs and the community will not be absent.

Let's start with the industry press. Live broadcasting, special topics, market news...... With almost available resources, major media are not stingy in reporting Boka ecology, not only to aggregate resources, but also to compete for the right to speak, becoming one of the biggest campaigners of parallel chain auction.

KOL is no exception. In Weibo, WeChat group, circle of friends, many coin circle KOL are in the Poka ecological platform, share all kinds of wealth password, become a bull market in the bright eye of the scene.

A better indicator of market sentiment is community. Since the beginning of this year, a number of private equity groups have sprung up in the industry, which gives ordinary investors the opportunity to participate in the primary market investment of Boca Ecological Project. However, it should be noted that at present, the quality of projects raised in the community is varied, and the lock-in period ranges from 3 months to 3 years, which requires investors to comprehensively evaluate the risks.

4. Off-site institutions

A growing number of over-the-counter institutions are also adding to the DOT portfolio, thanks to its strong performance over the past year.

On February 4, Goldman Sachs, ICAP, JPMorgan and UBS bought the first exchange traded product (ETP) to give clients access to the DOT cryptocurrency, according to Bloomberg terminal data, though the share is still relatively limited.

The Polkadot ETP currently has more than $15 million in assets under management, said Laurent Kssis, director of 21Shares ETP. The firm also manages the Basket Cryptocurrency Index ETP, which tracks the performance of five major cryptocurrencies, with DOT being the second largest component of the index.

For OTC institutions, the emergence of ETP-like products is expected to become a compliant exposure for investors to access DOT investments, which is a positive sign for the prosperity of Boca Ecology.

conclusion

Under the boost of many institutions and investors, Poka parallel chain auction curtain is about to open.

On the surface, this is a competition of capital power, but in essence, the parallel chain auction is a parade of Boca Ecology, a test of the Boca team, but also a test of the project, but also a test of the supporters of Boca Ecology.

As Lee Kun-wan, founder of De Non Capital, puts it, Boca only enters its ecological maturity period after the auction of card slots, which is the most likely period for the birth of leading projects. "Because most of the projects in the early stage are just based on the projects of the Ethereum ecology, with preconceived ideas to occupy the market, the real valuable demand of the Boca ecology will appear in the mature stage, and there will certainly be high-value leading projects."

In the long run, the landing of parallel chain is only one of the key nodes of Boca's macro vision. It remains to be seen whether Boca will be able to truly build a blockchain network of ten thousand chain interconnection in the future.

  This article is from a submission and does not reflect the views of Rhythm Blockbeats.    

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia