Polkadot launches ninth Parachain

Centrifuge will launch on March 11 on Polkadot’s infrastructure, as part of the second round of Parachain auctions.

Centrifuge will bring new exciting DeFi features to the Polkadot blockchain. The project aims to tie non-digitally native assets with blockchain technology, offering new ways and types of investments possible with cryptocurrency.

These investments include real estate and earning royalties without the need of third-party traditional finance.

Centrifuge is already a functioning proof-of-stake blockchain which means it will need to do a hard fork and token swap to move to the new Parachain.

Holders of this token should be paying attention to announcements to ensure they properly swap their token for the new Parachain version.

Centrifuge celebrated in its latest blog post and stated all things are ready to move to the new chain. The team did announce that its initial launch on Polkadot will be incremental to ensure the stability and scalability of the new Parachain.

Centrifuge will release its latest update, titled Tinlake, which will launch its DeFi platform and connect liquidity between its Polkadot and Ethereum ecosystems. Its DeFi platform launch will be the start of real world asset trading and marketplace.

Centrifuge is currently ranked 403rd by market capitalization and is sitting around $0.60 per token. Centrifuge will hope this new launch brings the adoption rates higher for the token which has struggled over the last few months.

Polkadot has had a successful year with the launch of new dapps and projects on its blockchain

The price of DOT is currently less than $20 per coin, down a significant amount from its all-time high of $54.98 held less than three months ago.

The increased adoption and utility of DOT could benefit the coin as these projects begin to launch. Polkadot is currently ranked ninth for market capitalization.

Polkadot has not released the time schedule for its third batch of Parachain auctions but many want to see more options aside from decentralized finance applications.

Polkadot however grew in significance over its early push to make its blockchain DeFi friendly and it will likely continue with this successful formula.

 

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Updated: 02/03/2022 — 14:00