Polkadot’s first round of auction culminated and Clover Finance emerged as the fifth parachain

The fourth polkadot auction is over. A tender was launched and Clover Finance was the big winner, and below we present relevant data that left the end of the first round of Parachains auctions.

November 16 The final winner of the first round of the Polkadot Parachains Auctions, Clover Finance, was announced for a total of 9,752,487 DOT through the contribution of 5,465 contributors and will launch on the 18th of this month with Parachains’ other winning projects: Moonbeam, Acala, Astar and parallel finance.

It should be clarified once again that the Polkadot Auctions are an event that functions as a bidding consortium, in which those who wish to participate as funding bidders must guarantee their DOT in order to support the blockchain project that they see connected in a parachain want slot of the Polkadot network and receive a reward in return. It is also worth noting that Parachains are next-generation layer-one blockchains that form the backbone of the Polkadot Network, forming a free alliance of Sovereign Chains that are within the Polkadot backbone.

Clover Finance, the winner

Polkadot’s first round of auction culminated and Clover Finance emerged as the fifth parachain
Polkadot’s first round of auction culminated and Clover Finance emerged as the fifth parachain

On that occasion, Clover Finance, a layer 1 blockchain that acts as a platform for the execution of smart contracts, compatible with EVM and a multi-chain development capacity, was the winner with a sudden victory in the competition with Efinity for the last Position of the parachain in this round at the beginning of the candle auction.

From the graph we can see that Efinity dominated the round and it was not until the early hours of the morning of the 12th day that Clover was able to record a significant increase, which allowed him to place himself above Efinity and it with a difference of only 5,179 DOT. to beat.

It should be noted that Clover started the auction with a total of 5,434,619 DOT and when it came out the winner won 6,726,275 DOT, an amount that would translate into a 19.20% increase on the original amount, and that if we look at the final number of DOT Collected (9,752,487 DOT), Clover Finance saw the coins collected during that auction increase by 44.27%.

The ones who stayed

During this last auction, the position of the fifth Parachain was, as already mentioned, very competitive, and in this dispute was Efinity, who wanted to win at the last moment, as can be seen in the graphic, but not only because of the surprising Ascent that Clover had, he was prevented from taking a position on the Parachains list.

With a start of 4,594,622 DOT, Efinity was up 31.63% and finished second in that fifth auction and sixth in the overall table with a collection of 6,721,096 DOT, but still fourth in the number of stakeholders – Contributors with 8,385 who contributed their DOTs through projects like Clover and Parallel Finance that won the auctions.

In third place we have Manta Network, a decentralized protocol that focuses on defi and privacy that would have had a total collection of 3,961,743 DOTs in this entire auction edition and was a 2.49% increase in this last round, for the end with a total of 3,738,958 DOT collected and with a total registration of 8,222 stakeholders.

It is important to add that the projects that were not winners of a Parachain slot, in the case of Efinity, Litentry, SubDAO, Subgame Network and Ares Protocol, must return the accumulated DOT to their contributors according to the auction rules. decide whether to apply again for another round, with the intention of opening the collection and participating in one of the next auction rounds, the next one being the 23rd of this month, in which various projects are already involved, such as Composable Finance, Centrifuge, Nodle and Darwinia.

Instead, for projects that won an auction, they return DOTs received after the slot lease period, which is 96 weeks in total on the Polkadot network.

Finally, as no less important data from this first round of Parachains auctions, there was a total collection of 113,290,146 DOT, which according to parachains.info is about $ 3,071,295,847 to date and according to data from Polkastats. io 9.89% of the total DOT spent.

DOT incidents

At the time of this writing, DOT continued to react to Bitcoin volatility, moving through the price zone between $ 29-25, which Fibonacci retracements indicate is the zone between 0.382 and 0.236, which is a zone below 20.50,100,200. indicates moving averages of the daily chart, which can be viewed as the bears taking control, and little influence from auctions in these market conditions, where fear and uncertainty have been most noticeable since the fall of December 4th.

On the other hand, as we zoom out on the weekly chart, we see that the DOT price is resting on the tangential uptrend support line, indicating a possible continuity of the upward movement, but if it fell below it would break this structure and reach the value of the USD 21.20. It is important to mention that the behavior of the network will be very important when the first Parachains go live as, as in all networks, this could have an impact on the DOT price in the medium and long term, even more so than the Parachain Auctions it in a ?? negative contextâ ???? Market.

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It is also important to note that this should not be viewed as an investment recommendation or a trade, it is just an informative and technical article that the publisher creates and does in accordance with the behavior of the movements that occur in the market and in no way represent the general vision of Cointelegraph in Spanish.

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