Two announcements from Huobi Global on Friday indicate that the cryptocurrency exchange is set to become a major player in the growth of the Polkadot network.
In a couple of blog posts, the Seychelles Stock Exchange announced the Polkadot sponsorship program, as well as the $ 5 million Tether Stablecoin fund from the Huobi Innovation Lab to support “developers, organizers, content creators and ambassadors” through the Polkadot ecosystem. …
With the sponsorship program, people can recommend Polkadot projects for inclusion in the Polkadot Eco Zone, a dedicated listing section on Huobi. Sponsors are reported to have received invitations to Huobi’s annual conference as well as other offline events.
Sponsors must have a share in Polkadot’s success in order to apply. The minimum requirements include 300,000 DOT tokens (over $ 1.5 million), half of which must be supported by Huobi as an asset certificate.
Huobi’s investment follows two similar announcements from Polkadot on Thursday. The network has created a funding-focused decentralized coalition founded by Oracle Provider Chainlink and Plasm’s Level 2 Network.
In addition, the Web3 Foundation announced the launch of the Thousand Auditors Program, which will provide training, support and funding to increase the number of network auditors for the platform.
Investments in infrastructure and the environment came after Polkadot creator Gavin Wood said on Thursday that Polkadot and Ethereum could coexist. In comments from Polkadot Decoded Summit, the programmer who also co-founded Ethereum rejected the notion that there was only enough space for a Layer 1 protocol.
“If Ethereum turns out to be a chain that can act as a kind of bridge […], I think there’s a very good chance that Polkadot and Ethereum will exist happily,” Wood said.
However, Tier 1 platforms that want to divert developers and projects from Ethereum may make false assumptions about the impact of the network.