Developed by Ethereum co-founder Gavin Wood and stated to include the technology of the future Polkadot (DOT), continues its important developments without slowing down.
It was seen that Polkadot started to experience consolidation after its 25% rally last week and remained flat. Now, another good news has been given before the expected parachain sales.
Will Polkadot Have the Expected Effect?
Speaking before the parachain sales of Polkadot, which has been expected for years and thought to have a great impact, founder Gavin Wood gave the good news of $ 774 million.
Wood emphasized that there are now 18,936,300 DOTs in the Polkadot treasury, and that it will be used for something other than being slowly burned in the wax.
Gavin Wood is considering funding projects that could be valuable in the network and using funds from the treasury for that.
Gavin Wood, in his post on the subject, stated that the $ 776 million DOT treasury will be used for ideas and projects that Polkadot management considers “valuable”.
the @Polkadot treasury currently has 18,936,300 DOT (DOT, not USD – do the math) in it ready to spend on *your* ideas for building, improving, educating and indeed, anything else that the Polkadot governance believes valuable.
— Gavin Wood (@gavofyork) October 17, 2021
Emphasizing that DOT investors can offer their ideas for the growth of the network, Gavin Wood, in fact, seems to have taken the same step as Binance.
Binance cryptocurrency exchange recently announced that it has opened $1 billion in funding to support the Binance Smart Chain ecosystem.
Polkadot, whose Parachain sales are very close, is doing the same with a lower budget. Major parachain sales will begin on November 11, and with this funding news, new projects are likely to make much more of a hit.