Polkadot Launches DeFi Alliance

Polkadot launches DeFi alliance. Announced on Dec. 3, the alliance intends to overcome the decentralised nature of the Polkadot ecosystem by providing a platform for its community to discuss the use of the Polkadot Network and its underlying substrate technology stack for DeFi.

Chainlink is among the alliance’s founding members. The company’s global head of business development, Dan Kochis, said “Chainlink is excited to help steer the direction of Polkadot’s growing ecosystem of decentralized financial applications. By promoting developer best practices for DeFi protocols, the Polkadot ecosystem can become stronger than ever.” 

Other founding members include the layer 2 infrastructure provider, the Plasm Network, the decentralised insurance sector, Tidal Finance, and the non-custodial automated market producer, Polkaswap.

The alliance is currently accepting applications from developers building on Polkadot Network or Substrate. Polkadot has also just announced it will be launching a “thousand validators” program this month, which will offer support and incentives to individuals looking to operate a Polkadot node in a effort to increase the number of its validators by 1,000.

The program draws on the same program that was launched on Polkadot’s sister-network and parachain Kusama in February. While Kusama’s node count was approaching 180 in February, the network now has 700 active validators with a further 393 waiting.

Despite two-thirds of Polkadot’s supply being staked, the network currently comprises just 249 validators — indicating that many stakers are choosing to use third-party service providers.

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