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Supervision strikes hard, and the injured Polkadot ecology still has a chance to fight.



Polkadot's one-week observation is a summary of what happened to Polkadot's entire ecology last week, and we will also share some of our observations on these events in the form of vernacular. This article is intended to provide information and opinions, and does not endorse any project. Any project mentioned is not for investment recommendation, but for information display only. Observations and viewpoints 1. Domestic regulation strikes hard, hedging Polkadot’s good dividends We mentioned in last week’s weekly observation: interest rate hike expectations, regulation and taxation will bring impact on cryptocurrencies, Polkadot ecology because of slots After going online, the dividends brought about by the formal development of the ecology will also be affected by hedging. Although we expected that there would be supervision, we just didn't expect that the country would take the lead. First, the three departments including the Mutual Finance Association stated that financial payment institutions are not allowed to carry out business related to virtual currency. Then, the Financial Commission held the 51st meeting, demanding to crack down on Bitcoin mining and trading behavior, and resolutely prevent individual risks from spreading to the society. field pass. These two news directly brought about two sharp drops last week, and the benefits brought by Polkadot Decoded, the largest meeting of Polkadot this year, were also hedged, which is also in line with our judgment. But there is no need to worry about such a sharp drop affecting the long-term development of the entire cryptocurrency. The old currency enthusiasts who have experienced the 94 incident in 2017 have actually calmed down. Cryptocurrency will not be wiped out because of a country’s policies, it is nothing more than some adjustments. Beijing Local Financial Supervision Bureau: Strengthening information infrastructure construction and security protection: According to news on November 7, the Beijing Municipal Local Financial Supervision Bureau said: Strengthen information infrastructure construction and security protection. Based on specific areas such as digital trade pilot areas and various digital trade parks, build communication infrastructure such as dedicated channels to achieve 5G coverage in specific areas; upgrade and transform data centers with high energy consumption and low efficiency, and actively deploy the Internet of Things and industrial Internet information foundation facility. [2021/11/7 6:36:28] What should I see next? Supervision will still have an impact. On the one hand, the introduction of specific domestic regulatory measures (this meeting is to propose a general direction, and specific measures are still lacking), and on the other hand, foreign countries will also have corresponding regulations (but foreign countries mainly focus on asset transparency. , industry supervision and behavioral norms, etc., are much more moderate); on the other hand, the expectation of interest rate hikes is still the sword of Damocles hanging over the cryptocurrency. But in any case, the two sharp falls this time still eliminated the bubbles and risks brought about by the last round of skyrocketing of many cryptocurrencies. Everyone has expectations later, and there will be no panic like last time. But you don’t need to be too discouraged. The country has not completely cut this area to death. After all, Hong Kong has opened a hole to support the licenses of cryptocurrency exchanges and funds, so this time it is suppressed rather than killed. Moreover, there are also some potential positive possibilities in foreign countries. For example, the digital dollar is under preparation, and the possibility of the smooth launch of Bitcoin ETF is greater than in previous years (after all, Coinbase, a cryptocurrency exchange, has also been listed). In addition, the alpha bonus brought about by the ecological development of Polkadot itself, so there is no need to be too pessimistic about the Polkadot ecology. Acting Comptroller of the Office of the Comptroller of the Currency calls for stronger regulation of large general-purpose encryption companies: On November 6, at the 2021 Policy Summit of the U.S. Financial Technology Committee, Acting Comptroller of the Currency Michael J. Hsu called for stronger regulation of general-purpose encryption companies. “Large, general-purpose crypto companies, especially issuers of high-volume stablecoins, should be subject to comprehensive, unified regulation. At the same time, federal and state banking regulators should prioritize developing policy and regulatory approaches that securely incorporate such companies into The scope of banking regulation. This will clearly distinguish safe and sound crypto companies from those that are only partially regulated and have a history of control failures, such as Binance and Tether.” operating federally chartered banks. (Cointelelgraph) [2021/11/6 6:35:49] 2. Projects that want to participate in the Kusama slot auction are gearing up for a big fight. Last week, several Polkadot eco-projects disclosed that they participated in the Kusama slot auction. Bidding strategy for slot auctions. It is worth noting that the longest slot on Kusama is only one year. For participants participating in the Kusama slot crowd lending PLO, their KSM lockup time will be one year shorter than that of Polkadot (up to two years). Times, from the perspective of capital utilization, the efficiency of participating in KSM’s slot auction is still very high. If you have a project that you are optimistic about, you may wish to participate in the auction more, and don’t miss the opportunity to get low-priced chips for some high-quality projects. Voice | Hong Shuning: FATF's regulatory recommendations on VASP are rigid and lack of enforceability: Hong Shuning, director of the Jinqiu Blockchain Research Institute, posted on Weibo in response to FATF's regulatory guidelines, saying that FATF's regulatory recommendations on VASP are completely as expected, rigid and Lack of enforceability, the impact on the market can refer to the market after the domestic regulatory policy in 2017, and the effect will be weaker. He then said that he would like to emphasize that for the vast majority of people, there is no need to withdraw coins from exchanges now, and your privacy cannot be protected by exchanges. This has always been the case in the past, and it is too late to withdraw coins now. [2019/6/22] What are the specific items to participate in the Kusama slot auction? We have listed them in detail in another article "10 things you must know about the Kusama slot auction". You can move to Check it out in this article. 3. Is Polkadot really played by mainlanders? In view of the poor market last week, many friends in our Polkadot Ecological Research Institute community began to spread that Polkadot is only played by Chinese people and that it is a mainland stand-alone currency. As soon as the domestic policy came out, Polkadot plummeted, and it couldn't get up later. In this regard, we said that we will directly use the data to speak without jumping to conclusions. In a summary article launched by Polkadot’s official Web3 Foundation in January this year, we can see that among all projects supported by the Web3 Foundation Grant (subsidy), 18.2% of the teams are in China, 11.6% are in the United States, 8.8% are in Russia, the rest are distributed in Australia, Japan and Europe. The entire Web3 community is a truly global community. Voice | CEO:’s repurchase of 10% shares has nothing to do with regulation: CEO Brendan Blumer said in an interview: Our repurchase has nothing to do with regulation. Last year, we conducted a relatively small-scale repurchase, which cleared up some shareholders and brought in new shareholders. We did it again this year, and we plan to do another round of strategic funding at some point after that, so we can continue to bring in new investors and make sure our shareholder list is healthy and strong. [2019/6/4] Moreover, according to the 2020 Global Encrypted Hedge Fund Report recently released by PricewaterhouseCoopers and investment company Elwood Asset Management in cooperation with the Alternative Investment Management Association (AIMA), most of the encrypted hedge funds traded BTC accounted for 92 %, followed by ETH with 67%, LTC with 34%, LINK with 30%, DOT with 28%, and AAVE with 27%; high-net-worth individuals accounted for 54% of encrypted hedge fund investors, and family offices accounted for 30%. These data show that Polkadot has extremely high support abroad, not only in terms of popularity but also in terms of capital. Taking a step back, for the current hot Ethereum ecology, these developers get started through Ethereum, and they can naturally feel the power of Ethereum. Don’t they care about the technical realization of Ethereum? Is Polkadot the new blockchain project made by Gavin Wood, the technology guru? Jinse Finance exclusively analyzed that the world is entering the moment of regulating digital currency, which is a good thing for digital currency: a few days ago, Belarus adopted cryptocurrency accounting standards, and the British Minister of Finance also indicated that the British government is looking for appropriate regulatory rules. This is good news for digital currencies. The existence of supervision can make digital currency have a safer development space, and eliminate a large number of "air coins", compress the bubble in the digital currency market, and let digital currency have a healthy development path. [2018/3/26] Therefore, the period belonging to Polkadot has only begun slowly, and the good show is still long, so be patient. Polkadot official news [Kusama has deployed Parachain Shell] In the early hours of May 18, Kusama tweeted that it had successfully deployed the Parachain Shell. Within 24 hours after the deployment of the Shell, the Shell will be upgraded to Statemine through voting, and then the parachain insertion will begin. Slot auction. [Gavin Wood: Kusama parachain is expected to go live next Monday] According to official sources, on May 20, Polkadot founder Gavin Wood said at the Polkadot community conference that the Kusama parachain is expected to go live next Monday. The team will release version 0.9.2 today or tomorrow to fix some Shell parachain bugs, wait for Shell to run stably for 24 hours without any problems, upgrade Shell to Statemine, and launch Statemine later this week. If Statemine is running fine, the first 5 auctions will be held on Kusama. After confirming that Kusama can run several parachains stably, Polkadot will be launched. [Polcato releases the parachain launch schedule and announces that it will launch three new functions including Parathreads] According to official sources, the launch of the Polkadot parachain is expected to happen after two things: First, a comprehensive external audit should be conducted for all new logic. Second, Kusama’s Canary network should demonstrate that the new logic works by executing at least one successful auction involving crowdlending and hosting at least one functional parachain. The relevant audit work has already started and will be completed in three steps in the next few days. 1. First, the Shell parachain will be deployed on it, which was just approved by the governance vote today. The Shell parachain is an "empty" chain - it produces blocks, but has no other functionality other than being upgradable. It just listens to the message of authorization upgrade from the relay chain governance organization. When receiving such a message, the Shell parachain will allow itself to upgrade to any new logic authorized by the relay chain, identified as 1000 (the first system parachain is identified as 0). 2. The governance department will vote to upgrade the Shell parachain to the Statemine chain. 3. When it is proven that the parachain with transactions and consensus has a highly decentralized 900 verifiers on the Kusama network, an auction will begin. The majority of the KSM pool is currently locked in the Kusama fixed system, and seven days' notice is required for movement. Therefore, the Kusama website will announce the start date of the first auction a week in advance, as well as the estimated timetable for future auctions. Currently, the network expects to conduct 5 auctions, held every 7 days. For the next two months, the focus will be on reliability, refactoring, and performance. Currently, transaction volumes are intentionally limited to conservative limits to minimize the possibility of any systemic issues arising from the current non-optimized implementation. The network now allows only 500 milliseconds to execute transactions within each block, reducing the number of valid transactions by over 75%. As the code becomes faster, these limits will be lifted and transaction volume will grow towards the theoretical limit. After this period of instability, Polkadot will launch three new features: Parathreads (pay-as-you-go parallel chain), Off-chain XCMP (off-chain cross-message passing) and Spree (safety-protected runtime execution area). [Polkadot version 0.9.2 is officially released, the official recommends that all nodes upgrade as soon as possible] Polkadot version 0.9.2 is now officially released. The official said that this version has a high priority for upgrading, which is very important for the start of the parachain, and it is recommended that all nodes upgrade as soon as possible. [Polkadot Decoded community conference successfully held] Polkadot Decoded is an online Polkadot community conference, which can be said to be the biggest Polkadot event this year. It was successfully held on May 19 and May 20. 40 speakers from all over the world with different backgrounds, including Polkadot official and many community projects, brought wonderful speeches and workshops. Dr. Gavin Wood also shared the specific arrangement of the Kusama parachain auction. [Polkadot Weekly Report: Polkadot 0.9.2 has been released, waiting for Parachain Shell to be upgraded to Statemine] According to Polkaworld’s Polkadot Weekly Report, Polkadot 0.9.2 has been released, waiting for Parachain Shell to be upgraded to Statemine. 1. The Polkadot treasury just destroyed 147,042 DOTs today, and there are still 14.61 million DOTs waiting for everyone to apply. 2. The Shell parachain is running on the Kusama network. 3. Kusama referendum No. 108 (mandatory recovery of an account) was not passed. 4. Encounter is a unique identity system that is applying to become Kusama's public welfare chain. 5. The Kusama Council has passed and implemented Motion 295, which eliminates the slash penalty of 115 validators caused by CPU spikes that did not allow imOnline messages to be sent during the 9010 Runtime upgrade. 6. Kusama directors are voting 297 motions to fund the integration of Kusama into the Klever wallet. 7. Kusama treasury currently has 345,211 KSM, and 690.42 KSM will be destroyed in one day.


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