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21.12 - 08:21
Parallel Finance wins fourth round of Polkadot parachain slot auctions
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ambcrypto.comWhile you might be used to the adrenaline rush of a real life auction – or one in a movie – crypto auctions come with their own share of drama. Polkadot’s ongoing parachain slot auction is one example of this.
Parallel Finance announced that it had won the fourth parachain slot auction, with contributions totaling about 10.75 million $DOT [around $285.10 million at press time] with more than 30,000 supporters. Other winners so far are Moonbeam, Acala, and Astar.
Source: Polkadot.js.org
So why is this a big deal? Well, Parallel Finance [PARA] is a DeFi protocol that aims to bring decentralized financial services to one billion people. A lot of hopes are riding on the protocol, as Parallel Finance noted,
“5) For Parallel’s crowdloan, Nearly 80%
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