Polkadot [IOU] (DOT)
$5.30 (2.70 %) View coin
10 February 2020

Web3 Foundation partners with Coinbase Custody and allows Polkadot investors to start claiming their DOT tokens

Earlier today, the Web3 Foundation announced it partnered with Coinbase’s custody subsidiary to offer a custody solution for Polkadot’s native token, DOT. Investors that participated in Polkadot’s previous token sales can now claim their DOT allocations with their existing Coinbase Custody accounts. The Web3 Foundation simultaneously launched a dedicated website that lists a few alternative claims processes for those investors without a Coinbase Custody account.

Why it matters: - Polkadot mentions this is the first step in its mainnet rollout. Polkadot’s launch sequence could mimic that of its canary network, Kusama, where early stages feature a Proof-of-Authority (PoA) consensus mechanism and limited on-chain functionality. Subsequent versions will introduce more utility through staking, on-chain governance, and parachains. - Polkadot is one of several projects promoting cross-network communication. But some argue these cross-chain solutions only matter if multiple networks generate significant user activity. The multi-chain enthusiasts vs. skeptics debate should remain a relevant theme throughout 2020 as these interoperability solutions continue to roll out.

At a panel held at the Unitize blockchain conference, representatives from the Cosmos, Polkadot, and Terra networks unveiled Anchor, a new DeFi savings product built on Terra that offers yield on stablecoin (Terra) deposits powered by staking rewards from PoS blockchains. The protocol will take thos...
After nearly four years of development, the Web3 Foundation has launched the first mainnet chain candidate for Polkadot. This long-awaited network, first envisioned by Gavin Wood, intends to be an Ethereum 2.0-like sharded network that supports various use case-specific chains, called parachains. T...
The Proof of Stake Alliance (POSA), an advocacy organization for burgeoning staking landscape, has published a set of standards to address potential regulatory concerns surrounding Proof-of-Stake networks and related services. The group shared these industry recommendations with SEC back in Feb., as...

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