We can see that the Polkadot ecosystem has grown tremendously. But all the recent bull runs happened before Polkadot and Kusama were fully developed – so what can we expect in the future? Recently, Dan Reecer, VP of Growth Acala Network & Karura Network announced the launch of Kusama Crowdloans and the first parachain auction is coming soon.
In addition, Kusama Network’s Twitter page also announced the update v.0.9.1. In particular, this upgrade was approved by the council. This upgrade includes the code for parachains, auctions, and crowd loans reduces the min. vested transfer by 100x and reduces fees/deposits by 50x.
Update v0.9.1 for Kusama Network passed, Kusama Crowdloans and first parachain auction coming soon
While Polkadot and Kusama cross chains are already running and many Polkadot projects have hit the market by launching MVPs on Ethereum, people are now eagerly waiting for Kusama and Polkadot to enter the next phase. The key piece missing is the much-anticipated parachain auctions.
And today, that expectation has paid off, halfway through. The launch of parachains will most likely transform the current Blockchain and DeFi landscape, as the entire Polkadot ecosystem with dozens of projects waiting to be launched. The upcoming parachain auctions could spur further explosive price growth for both DOT and Kusama.
The notice states:
BEAKING: Upgrade v0.9.1 passed council and is now a public referendum, fast-tracked to end Friday ~12pm CEST. This upgrade includes the code for parachains, auctions and crowdloans, reduces the min. vested transfer by 100x and reduces fees/deposits by 50x.
— kusama (@kusamanetwork) May 12, 2021
With institutional interest in DOT and demand due to the upcoming parachain auctions increasing, both DOT and Kusama are set to enter a very hot summer. Looking at the prices of DOT and Kusama, both show healthy consolidation patterns, which could set up further rallies. Of course, it all depends on the smooth running of the much-anticipated parachain auctions and the subsequent activation of the Polkadot ecosystem.
If all goes well, it will mark the beginning of a new era of blockchain technology, with adoption set to kick off strongly in the months and years to come.