{"id":12342,"date":"2021-10-17T04:21:42","date_gmt":"2021-10-17T03:21:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=12342"},"modified":"2021-10-17T04:21:53","modified_gmt":"2021-10-17T03:21:53","slug":"polkadot-dot-soars-to-45-after-governing-council-approves-a-motion-for-open-parachain-auctions","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/polkadot-dot-soars-to-45-after-governing-council-approves-a-motion-for-open-parachain-auctions\/","title":{"rendered":"Polkadot (DOT) Soars to $45 After Governing Council Approves a Motion for Open Parachain Auctions"},"content":{"rendered":"\n
Polkadot<\/a> (DOT) continues its climb, adding an additional 6% in the previous 24 hours and closing in on $45.<\/h5>\n\n\n\n
\"Polkadot<\/figure>\n\n\n\n

As of press time, DOT\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> was trading 4.83 percent higher at $43.57 per share, with a market capitalization of $43.02 billion.<\/p>\n\n\n\n

The DOT price has increased by more than 30% in the previous three days following Polkadot's announcement that it is ready to launch the parachain.<\/p>\n\n\n\n

According to Santiment's on-chain statistics, excitement around DOT has increased considerably following the latest price rally, as Polkadot<\/a> (DOT) eyes a new all-time high above $49.25. DOT has just broken apart from the wider altcoin sector, which has been consolidating for some time.<\/p>\n\n\n\n

Passing the Motion for Open Parachain Auctions Polkadot announced that it would begin conducting parachain auctions next month. <\/p>\n\n\n\n

Polkadot also announced that its governing council has approved the move for open parachain auctions. It is, however, still awaiting passage in a public referendum. Additionally, the team notes:<\/p>\n\n\n\n

Referendum 39 is currently up for a community vote, if passed it will schedule the first auction to take place on November 11, 2021 [a little over 26 days]. Reminder for those wishing to take part in auctions, the unbonding period on Polkadot is 28 days.<\/p><\/blockquote>\n\n\n\n

According to the official page, parachains will link to the Polkadot blockchain<\/a> by leasing a 96-week space on the Relay Chain<\/a>. Each parachain spot will be allocated via an on-chain auction. The winners of these slots will be required to post a bond with DOT for the duration of the lease period.<\/p>\n\n\n\n

This change is expected to increase the incentive for players to migrate to the Polkadot blockchain, while also garnering greater community<\/a> support. Polkadot parachains have long been desired by the market and will massively enhance the platform's scalability, giving rival Ethereum a run for its money.<\/p>\n","protected":false},"excerpt":{"rendered":"

Polkadot (DOT) continues its climb, adding an additional 6% in the previous 24 hours and closing in on $45. As of press time, DOT was trading 4.83 percent higher at $43.57 per share, with a market capitalization of $43.02 billion. The DOT price has increased by more than 30% in the previous three days following […]<\/p>\n","protected":false},"author":13,"featured_media":12343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81,77],"tags":[486,487],"class_list":["post-12342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","category-polkadot","tag-parachain","tag-polkadot"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/image-78.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=12342"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/12343"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=12342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=12342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=12342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}