Polkadot Developer Parity Technologies Reportedly Cuts Over 300 Staff This Week

After making a statement on the 10th of October 2023 outlining changes in its operational emphasis, the blockchain technology company Parity Technologies, which is the service provider behind the Polkadot (native token: DOT) blockchain, is said to have let go of more than 300 workers this week. According to a tweet published by Parity Technologies, the firm is “sunsetting its go-to-market functions” in order to make room for more extensive community-driven initiatives amid the expansion of Polkadot’s ecosystem.

In a series of tweets, Parity Technologies focused on its strategy move towards a more community-centric approach, highlighting its view that the “strength of any ecosystem lies in the diverse builders, where competition meets collaboration.” This was done in order to highlight the company’s strategic transition toward a more community-centric approach. The move also aligns with a bigger narrative around Polkadot’s development and the obstacles faced by its ecosystem, including an imminent huge supply event with over 400 million parachain unlocks slated in less than two weeks, followed by a 110 million unlock in January. Specifically, the move coincides with an impending large supply event with over 400 million parachain unlocks scheduled in less than two weeks.

Concerns have been raised among community members as a result of the supply dynamics, which have been contrasted with what seems to be a lack of demand, as seen by the fact that recent parachain auctions have garnered just 1-2 million dollars in interest. Notably, Astar, Polkadot’s most active parachain, has changed its attention towards becoming an Ethereum Layer 2 solution utilizing Polygon, which further emphasizes the difficulties that are present within the ecosystem. As a result of the scenario, some have begun to wonder whether or not Polkadot will be able to keep its market valuation of $5 billion by the end of the year, particularly in light of the fact that other projects, such as Optimism, are presently valued at $4.2 billion.

On social media, members of the community have expressed a range of opinions, with some expressing worries regarding the supply and demand dynamics of Polkadot in the near term, while others have shown an interest in seeing how the lifespan of a mature blockchain ecosystem evolves. The possible influence of these developments on the larger blockchain ecosystem, in particular for other alternative Layer 1 solutions, was another topic that was brought up throughout the conversations.

The dedication of Parity Technologies to bringing Polkadot’s next-generation technology to market, enhancing the overall quality of the developer experience, and cultivating a robust developer community has been reaffirmed. There are high hopes that many teams from Parity will continue to contribute to the expansion of Polkadot with the introduction of the new financing scheme offered by the Web3 Foundation.

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Polkadot Reports Q3 Growth: New Parachains, Staking Metrics, and Technical Upgrades

Polkadot’s ecosystem saw significant expansion in Q3 2023, with the addition of five new parachains, a rise in staking metrics, and major technical upgrades. The total volume of staked DOT increased to 663 million, and the platform recorded more than 190 million on-chain events. The quarter also saw the introduction of native USDC and a 20% quarter-on-quarter rise in XCM messages.

Staking and Metrics

Polkadot reported a quarter-on-quarter increase in the total volume of staked DOT, from 578 million to 663 million. The percentage of the total DOT supply staked is now just shy of 49%, close to the ideal staking rate of 52.5%. Nomination pools, launched in November 2022, ended the quarter with 15,281 members and more than 7 million DOT staked.

New Parachains

Five new teams acquired parachain slots, diversifying Polkadot’s Web3 use cases. The new projects include peaq, Bit.Country, InvArch, Energy Web, and Nodle. These projects focus on various sectors such as DAOs, the metaverse, IoT, and sustainable energy.

Technical Upgrades

Major proposed technical upgrades like agile coretime and asynchronous backing are nearing completion. Agile Coretime aims to provide more flexible ways for Web3 projects to access Polkadot’s computing power. Asynchronous backing could potentially increase Polkadot’s scalability eight-fold and is expected to be rolled out on the testnet Rococo soon.

Other Highlights

Native USDC was introduced, eliminating the need for bridged versions of the stablecoin.

Zodia Custody announced institutional custody and staking services on Polkadot.

A 20% quarter-on-quarter rise in XCM messages indicates increased cross-chain activity.

Polkadot is shifting towards an application-centric model, similar to cloud computing services. The upcoming technical upgrades are projected to enable support for over 1,000 parachains and 1 million transactions per second, preparing Polkadot for Web3 mass adoption.

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Uniswap Launches on Moonbeam Network, Extending to Polkadot

Uniswap’s V3 contracts have found a new home on the Moonbeam Network, a leading destination for multi-chain applications on Polkadot. With over $3 billion in Total Value Locked (TVL), Uniswap is a giant in the decentralized exchange (DEX) sphere. This integration, a first of its kind, extends Uniswap’s availability to users on the Polkadot network, opening up new avenues through an Oku front-end and Wormhole cross-chain messages.

Moonbeam: A Bridge to Polkadot

The Moonbeam network has positioned itself as a vital cog in the Polkadot ecosystem, especially ahead of a significant unlock of nearly 100 million DOT tokens later this October. This unlock event stems from the initial crowdloans conducted in December 2021. As these tokens become transferable, users are likely to explore alternative channels to leverage their DOT tokens across Polkadot and its parachains. Moonbeam, by hosting Uniswap, presents one such avenue.

Community-driven Integration

The integration journey began with a proposal from Michigan Blockchain which received a nod from the Uniswap community in May. Uniswap’s DAO selected Wormhole as the cross-chain protocol, paving the way for deployments on Moonbeam, Celo, BNB, and Gnosis. The Wormhole protocol stood out in the Uniswap Bridge Assessment Committee’s security analysis, marking a significant stride towards a secure cross-chain communication.

Expanding Multi-chain Horizons

Moonbeam’s role in Uniswap’s multi-chain strategy cannot be overstated. By supporting Uniswap v3 contracts, Moonbeam joins the ranks of Ethereum, Polygon, Avalanche, and BNB Chain, all of which have Uniswap v3 deployments. The fast finality and unique connected contracts approach of Moonbeam underline its appeal for cross-chain integration applications.

Oku: A New Interface for Uniswap Traders

A significant part of this integration is the Oku interface, designed to provide an advanced trading experience for Uniswap v3 on Moonbeam. Funded by a $1.6 million grant from the Uniswap Foundation, the GFX Labs team developed Oku to emulate a centralized trading experience akin to platforms like Binance. Oku introduces features like order books, price charts, live trading history, limit orders, and a seamless view of all available and new pools on Uniswap v3.

A Win for Liquidity Providers

Uniswap’s latest version introduces multiple fee options, enhancing flexibility and efficiency for liquidity providers. The upgrade aids in low-slippage trades, ultimately offering better prices. Additionally, liquidity providers can set specific price ranges, while the oracles in v3 are more accessible and cost-effective, marking a clear value addition for Moonbeam users.

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Polkadot’s Chinese Arm, PolkaWorld, Pauses Operations Amid Funding Controversies

PolkaWorld, the Chinese community for Polkadot, recently announced a halt in its operations due to the rejection of its proposal. This marks the first time in its four-year history, since its inception in 2019, that it has had to pause. The changes leading to this decision occurred after Polkadot initiated its #OpenGov initiative. The primary aim of OpenGov, as understood from Polkadot’s mechanisms and as indicated by @gavofyork, was to decentralize Polkadot’s governance and make the Treasury more transparent and efficient. However, the most debated issue currently is the treasury management under OpenGov. This has impacted long-term contributors and organizations, with many facing rejection from the treasury, leading them to depart from the Polkadot ecosystem.

In the past, Polkadot’s governance system had a “professional” council elected by DOT holders, who utilized their expertise to assess proposals. PolkaWorld suggests that this approach should be incorporated into the OpenGov system, emphasizing that “decentralization only works for the ‘informed’.”

Furthermore, PolkaWorld has interviewed DOT holders who expressed concerns about applicants converting treasury funds into cash, which they believe adversely affects them. As a result, they often vote against such proposals. This has led to suggestions that the treasury might consider alternative funding methods, such as using tokens like #USDT.

Markian Ivanichok, in a series of tweets dated 15th September, highlighted the challenges faced by developers and teams in the Polkadot ecosystem. He mentioned that despite having an approved development contract and delivering the work, the payment was denied without any explanation. This was in reference to the OpenBrush project, a base ink! library. The link provided led to a detailed account of the milestones achieved for the project on kusama.polkassembly.io. Ivanichok expressed his disappointment with the governance system of Polkadot, stating, “Governance is one of the brightest features that Polkadot is so proud about. This is the outcome. The smart/social contract not being honored. Governance drastically failed.”

He further announced the decision of the @Brushfam_io team to leave the Polkadot ecosystem, citing a lack of appreciation for their work and challenges in the ecosystem that doesn’t prioritize users, business practices, or marketing. However, he later updated that the OpenBrush repository on GitHub was made available again for all financed milestones, apologizing for the initial oversight.

The decision to temporarily remove the OpenBrush repository from GitHub drew criticism from the community. A user, @wl_null, commented on the move, stating that many teams supported and utilized the openbrush library and that removing it was detrimental to the developer community.

In conclusion, the recent changes in Polkadot’s governance system have stirred debates and concerns among its community members. The challenges faced by contributors and the subsequent decisions they make will shape the future of the Polkadot ecosystem.

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USDC will integrate into Polkadot, NEAR, Base, Cosmos’ Noble, and Optimism this September

Circle, the company behind the USDC stablecoin, is set to expand its digital dollar to six new blockchain ecosystems. The move comes as part of Circle’s “Stable September” initiative and aims to provide developers and businesses with a more versatile and secure stablecoin experience. The expansion will increase USDC’s native availability from nine to fifteen blockchain ecosystems.

Multi-Chain Expansion of USDC

Circle has announced that it will extend the reach of its USDC stablecoin to five new blockchain ecosystems in September, including Base, Cosmos via Noble, NEAR, Optimism, and Polkadot. A sixth addition, Polygon PoS, is slated for October. This expansion follows Circle’s recent launch of its Cross-Chain Transfer Protocol (CCTP) on mainnet and the introduction of its Web3 Services pillar and Programmable Wallets.

According to Circle, “the expansion of USDC to six new blockchain ecosystems enables developers to build on a stable foundation with a fully reserved digital dollar they can trust.” This move is expected to offer businesses and their users a “faster, safer, and more efficient way to send, spend, and exchange value around the globe.”

Supporting Blockchains Detailed


Base is an Ethereum Layer 2 solution designed to onboard the next million developers and billion users. It is built on OP Stack in collaboration with Optimism and is currently incubating at Coinbase. Base aims to serve as an easy-to-use bridge for Coinbase users.


NEAR is a high-performance blockchain that offers frictionless user onboarding and a unique scaling solution built on sharding technology. The integration of USDC into NEAR aims to “empower developers to integrate stablecoin payments flows into JavaScript or Rust-based decentralized applications.”


Noble is an appchain in the Cosmos ecosystem focused on simplifying asset ownership and transfer within the Inter-Blockchain Communication (IBC) ecosystem. USDC issued on Noble will be accessible to dozens of appchains via a seamless IBC integration.


Optimism is an Ethereum Layer 2 solution that utilizes Optimistic Rollup technology to improve transaction throughput. The integration is expected to result in “significantly faster and lower-cost USDC transactions.”


Polkadot aims to facilitate an internet where independent blockchains can exchange information in a trustless manner. Circle plans to bring USDC to Polkadot via the Asset Hub parachain.

Polygon PoS

Polygon PoS complements Ethereum’s decentralized security and aims to appeal to the general public while maintaining decentralization.


The expansion of USDC to six new blockchains is a significant step in Circle’s commitment to delivering a stablecoin with the “widest reach, developer optionality, and the simplest, most secure user experience.” With this move, Circle continues to solidify its position as a leader in the stablecoin market.

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Astar, Kabocha Lead in Polkadot and Kusama Auctions

Bill Laboon, the Head of Education and Grants at Web3 Foundation, has provided critical updates on the ongoing parachain lease auctions for Polkadot ($DOT) and Kusama ($KSM) networks. In a Twitter thread dated August 31, 2023, Laboon shed light on the leading projects and upcoming changes within these ecosystems.

Astar’s Dominance in Polkadot Auctions

With just half a day left in the current Polkadot parachain lease auction, Astar has been in the lead for the majority of the Ending Period. Laboon’s tweet, which has garnered 8,934 views, 12 reposts, and 61 likes, confirms Astar’s strong position.

Astar is Japan’s top smart contract platform and supports EVM and WebAssembly environments, enabling interoperability through a Cross-Virtual Machine. It’s user-friendly, utilizing familiar tools and languages, and part of the Polkadot network, contributing to blockchain ecosystem and driving web3 technology adoption.

Kabocha’s Unwavering Lead in Kusama Auctions

On the Kusama network, Kabocha has maintained its lead throughout the entire Ending Period of the current parachain lease auction. With three and a half days remaining, the project has already attracted significant attention.

The Growing Importance of “Blockspace”

Laboon also touched upon the increasing discussions around “blockspace” within the Polkadot ecosystem. He directed followers to an article by Rob Habermeier, titled “Blockspace over Blockchains,” for an in-depth understanding of the subject.

Educational Opportunities and Grant Programs

For developers interested in the Polkadot and Substrate platforms, Laboon highlighted a free on-demand course offered by the Blockchain Training Alliance. Additionally, the Web3 Foundation’s Grants Program aims to encourage innovation within the Polkadot ecosystem.

Implications and Future Developments

The parachain lease auctions are a pivotal element for both Polkadot and Kusama networks, as they allow projects to secure a slot on the respective blockchains for a specific duration. The strong performance by Astar and Kabocha indicates robust community interest and investment.

The early leads by these projects could set the stage for their increased influence within their respective ecosystems. Moreover, the ongoing discussions about “blockspace” suggest that Polkadot is actively working to optimize its infrastructure, which could have broader implications for the crypto community.

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Polkadot Q2 2023: OpenGov and XCM V3 Launch, SEC Clearance for DOT

According to MessariPolkadot, a blockchain network designed to support interconnected, application-specific Layer-1 chain, has made significant progress in Q2 2023. The network launched OpenGov, a fully-decentralized governance model, and XCM V3, a new iteration of the messaging format, both of which are expected to enhance the network’s functionality and interoperability.

OpenGov introduces concurrent referenda, community-centered governance bodies, and enhanced delegation flexibility, enabling a more efficient and transparent decision-making process. The new governance model replaces the Council and Technical Committee with the Fellowship, a developer DAO that ensures decentralization through community voting and checks and balances. This shift reflects Polkadot’s commitment to a more democratic and efficient decision-making process.

The launch of XCM V3 has generated significant excitement in the Polkadot community. The new version introduces advanced programmability, bridging capabilities with external networks, cross-chain locking, improved fee payment mechanisms, and support for non-fungible tokens (NFTs). This upgrade is expected to pave the way for increased functionality and interoperability across the Polkadot network.

Polkadot’s native token, DOT, was not flagged by the SEC as a security. This follows the Web3 Foundation’s statement that DOT had morphed and was no longer deemed a security after three years of discussions with the SEC. This omission from the SEC’s list of securities is a significant milestone for Polkadot, providing a level of regulatory clarity for the network and its users.

The network also saw Acala and Moonbeam re-lease their parachain slots, indicating increased competition for slots as new projects seek to join and existing projects aim to re-sign. The first batch of parachain leases is set to expire in October, which is expected to intensify the competition for parachain slots.

Polkadot’s market capitalization experienced a 16% decrease QoQ, declining from $7.74 billion to $6.24 billion. Despite this, Polkadot ranked as the 12th largest crypto project by market cap and the fourth largest base layer protocol, following Ethereum, Cardano, and Solana.

Looking ahead, Polkadot plans to implement additional system parachains, asynchronous backing, and parathreads, which will further enhance the network’s functionalities, scalability, and interoperability. With one of the largest developer communities in the crypto space, Polkadot is well-positioned to continue delivering on its roadmap and shipping products.


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Uniswap to Join the Polkadot Ecosystem via Moonbeam Network, Bolstering Liquidity and Volume

According to a recent series of tweets by Polkadot, Uniswap, the most widely used decentralized exchange (DEX) based on daily traded volume, is set to make its debut in the Polkadot ecosystem via the Moonbeam Network parachain. This integration is anticipated to significantly enhance liquidity and trading volume across the ecosystem.

Uniswap offers users a trustless, permissionless, and non-custodial method to access a broad range of tokens. Its entrance to the Polkadot ecosystem propels forward the development of a novel universe of decentralized financial (DeFi) products and services on Polkadot.

Oelassar, Global Head of Growth & Business Development at Parity Tech, commented on the development. “Polkadot is a strong fit for Uniswap, whose users can discover the network’s high performance, scalability, security, and interoperability. Polkadot’s DeFi ecosystem benefits from a marquee name in the space.”

Moonbeam, a layer-1 Polkadot parachain, enables full Ethereum Virtual Machine (EVM) compatibility, native interoperability, and prioritizes secure cross-chain integration solutions. Over the last year, the network has reported significant user growth.

The initiative to bring Uniswap to Polkadot and Moonbeam has been led by the University of Michigan Blockchain group. This proposal has successfully passed through Moonbeam’s governance process today, with robust community support. Upon activation, all parachains within the Polkadot ecosystem will have immediate access to Uniswap.

This development marks a significant milestone for Polkadot as it continues to foster innovation and inclusivity in the blockchain industry. By welcoming Uniswap, one of the flagship platforms in the DeFi space, Polkadot is further positioning itself as a leading hub for decentralized finance, ensuring its users have access to the most advanced and diverse range of DeFi services.


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Bored Ape Yacht Club wins legal battle

Bored Ape Yacht Club (BAYC) creator Yuga Labs has emerged victorious in a legal battle with Ryder Ripps, the co-creator of copycat NFT project RR/BAYC. Yuga Labs had filed a complaint against Ripps and his co-founder, Jeremy Cahen, alleging trademark infringement, false advertising, and unfair competition, among other things. The US District Court for the Central District of California ruled in favor of Yuga Labs in a pre-trial summary judgment on April 21, finding that Ripps and Cahen had indeed infringed Yuga Lab’s trademarks with their RR/BAYC NFT collection. The court has also ruled that Yuga Labs is entitled to an injunction and damages, which will be determined at trial.

This legal victory is being hailed as a landmark moment for Web3, as it sends a message to scammers and counterfeiters that they will be held accountable. Ripps and Cahen had created RR/BAYC back in May 2022 as a protest against Yuga Labs, using all of the same imagery as the original BAYC NFTs. Ripps is also known for his conspiracy theory that the BAYC artwork was designed to convey racist caricatures, and that the project’s logo and branding have several nods to certain Nazi symbols and language.

In other news, Mandala Metaverse has selected Polkadot to host its first major NFT drop on April 28. Mandala Metaverse is a story-based project that spans TV, graphic novels, gaming, and AR, and its gaming elements have been developed in Epic Games’ AAA quality Unreal Engine. The NFT drop, called “Cryptonauts,” features various avatars that will serve as playable characters in the game. The artwork was illustrated by comic artist Bruce Zick, who has worked with giants such as Disney and Marvel.

Polkadot is not known for hosting gaming and NFT projects, with no recorded sales data on aggregators such as CryptoSlam. However, Mandala Metaverse CEO Jon Shanker believes that Polkadot’s real future-proof NFT applications, such as nesting, staking, and the ability to send NFTs over bridges, make it an ideal choice for the Cryptonauts NFTs.

Moving on, Square Enix, the developer of Final Fantasy, has partnered with Web3 infrastructure firm Elixir Games to bring blockchain gaming to the mainstream. Although details on the partnership are still scarce, Elixir Games offers both traditional and Web3 games on its platform, along with Web3 distribution features such as NFT sales and marketplaces. Square Enix is increasingly interested in launching games via Elixir, and this partnership is expected to bring blockchain gaming closer to mass adoption.

Finally, a free-to-play multiplayer NFT cricket strategy game called Cricket Stars has been launched on the Tezos blockchain.


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Bored Ape Yacht Club wins legal battle, Mandala Metaverse selects Polkadot, Square Enix partners with Elixir Games, and Cricket Stars launches on Tezos

Bored Ape Yacht Club (BAYC) creators Yuga Labs have scored a key win in their long-running court battle with Ryder Ripps, the co-creator of copycat NFT project RR/BAYC. Yuga Labs initially filed a complaint against Ryder Ripps and co-founder Jeremy Cahen back in July 2022, alleging that the duo had engaged in trademark infringement, false advertising, and unfair competition, among other things. In a pre-trial summary judgment ruling on April 21, a U.S. district court in central California found that Ripps and Cahen had infringed Yuga Lab’s trademarks with their RR/BAYC NFT collection. The Court further ruled that Yuga Labs is entitled to an injunction and damages, the latter of which will be determined at trial. The case highlights the importance of protecting intellectual property rights in the burgeoning NFT market.

In other news, Mandala Metaverse has chosen Polkadot to host its first major NFT drop on April 28. Mandala Metaverse is a story-based project that has content spanning across TV, graphic novels, gaming, and AR. Its gaming elements have been developed in Epic Game’s Triple-A quality Unreal Engine. The drop, called the “Cryptonauts,” features different avatars that will serve as playable characters in the game. The artwork was illustrated by comic artist Bruce Zick, who has worked on projects for giants such as Disney and Marvel. The decision to take the Cryptonauts NFTs to Polkadot is a significant development for the platform, which is not traditionally known for hosting gaming and NFT projects. The move underscores the potential of Polkadot’s future-proof NFT applications and its ability to offer innovative ways to use NFT assets.

In addition, Square Enix has partnered with Web3 infrastructure firm Elixir Games to bring blockchain gaming to the mainstream. The move was announced on April 19, but specific details on the partnership are sparse at this stage. Elixir Games hosts both traditional and Web3 games on its platform, and also offers Web3 distribution features for its partnered games, such as NFT sales and marketplaces. As such, Square Enix will likely take advantage of those features when launching games via Elixir. This partnership is a significant development for the blockchain gaming industry, as it brings the mainstream gaming industry closer to the world of Web3.

Finally, a free-to-play multiplayer NFT cricket strategy game called “Cricket Stars” has been launched on the Tezos blockchain. The game is being led by Tezos India, an organization that focuses on developing projects on Tezos, in partnership with esports game publisher GoLive Games. The game offers player cards that can be used to affect the game or traded on the marketplace. It also offers player vs player modes, knockout tournaments, and esports tournaments. Despite the name, no licensing deals with actual cricket stars appear to be in place. The launch of Cricket Stars on the Tezos blockchain is a positive development for the platform, as it highlights the versatility of the technology in the gaming industry.

Overall, the developments in the NFT and blockchain gaming space are indicative of a growing interest in Web3 technologies. The Bored Ape Yacht Club legal victory is a significant win for the NFT market, as it reinforces the need for creators to protect their intellectual property rights. The launch of the Cryptonauts NFT drop on Polkadot highlights the platform’s potential for future-proof NFT applications. The Square Enix and Elixir Games partnership brings blockchain gaming closer to mainstream gaming. Finally, the launch of Cricket Stars on Tezos highlights the versatility of blockchain technology in the gaming industry and its potential for broader adoption.

As Web3 technologies continue to evolve and mature, it is likely that we will see more significant developments in the NFT and blockchain gaming space. The integration of these technologies into mainstream industries, such as gaming and entertainment, is an exciting development that could have far-reaching implications for the future of digital content creation and distribution. As more creators and developers experiment with these technologies, it is likely that we will see new and innovative use cases emerge that push the boundaries of what is possible with NFTs and blockchain gaming.


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