ParaState February Newsletter
Following a successful IDO in January on the Republic Platform, ParaState is weaving its own path of success towards becoming the blockchain industry's first multi-chain platform for deploying highly scalable smart contracts.
In February, the team continued to work on a series of important milestones including the listing of the $STATE token on important CEXs, as well as the launch of its new Geminis Network parachain in the Polkadot Parachain Auction, among other achievements.
If you want to know more about what ParaState has been up to this February, be sure to read the next few lines of this Newsletter.
Here are the highlights!
An Active Community: The ParaState Polkadot Parachain Auction Poll
We started February as we promised in our last newsletter, calling on our community to actively participate in making key decisions in the project through a massive vote that allowed us to make the best joint decision as a decentralized entity exercising the shared voting power that characterizes us.
We carried out the first decentralized poll in the ecosystem through the autonomous governance that the holders of our $STATE token can exercise through their holdings in their wallets, to decide whether to support ParaState in the next Polkadot Parachain Auction this March.
The survey was open for 48 hours from February 5th to February 7th. Based on the results from the massive participation of our community, ParaState will participate in the Polkadot Parachain Auction #11 between March 3 and March 10.
As a $STATE holder, you have governance rights to vote and decide on such issues through ParaState’s decentralized governance structure as a decentralized autonomous organization (DAO).
Thanks for participating!
ParaState Successfully closed its public offering on the Republic Platform
In the first half of February we received the final numbers of our successful IDO and as a DAO entity, we wanted to share with our entire community the impressive support we obtained in our public token sale on the Republic Platform.
Attracting over 2,300 investors, the ParaState native token offering began on January 12, 2022, and successfully closed with the sale of 43,432,500.85 STATE tokens, hitting a final fundraising amount of more than $7.15 million.
Below is the official breakdown report from Republic of the STATE tokens sold by the different lockup terms during the Public Offering.
30-day lockup, 18,120,343.59 STATE tokens
90-day lockup, 16 648,432.26 STATE tokens
180-day lockup, 8,663,725 STATE tokens
Importantly, there were $1.05 million committed investment invoices that failed to complete the settlement within the required timelines. So a total of 6,655,198 unsold STATE tokens will be distributed back to the Eco Treasury.
With these impressive numbers, the ParaState team has managed to raise a total of around USD 18.95 million through previous private and public rounds.
If you want to know more about the results, do not hesitate to consult our post dedicated to this topic on our official blog:
MEXC Global to list ParaState
On February 16, our $STATE token was listed on one of the most important centralized exchanges in the industry, MEXC Global.
Deposits and the listing of the $STATE token were opened at 15:00 (UTC) on February 16, 2022 with the STATE/USDT pair.
MEXC Global was established in 2018 and is a digital asset management platform that currently has more than seven million users in the world.
With $STATE listed on MEXC Global, members of our community and the ecosystem in general now have an excellent option to acquire our native token in a highly liquid market.
As part of the enlistment, MEXC Global in alliance with ParaState carried out an airdrop of 350,000 $STATE tokens to be claimed in the event called “M-Day”.
ParaState added on Coin Rocketeers
After our successful listing on MEXC Global, the community started to generate great interest in our platform and of course our native token $STATE.
As a result, Coin Rocketeers, a major promotional network run by the crypto community, added ParaState to its portfolio.
Now all lovers of the crypto community can go to this important altcoin network and obtain accurate and real-time information on our multi-chain platform and the $STATE token.
ParaState cited as a Project to Watch in the WW Ventures Bi-Weeky report
WW Ventures, a Social Capital firm that invests in the fintech sector and the crypto ecosystem, reviewed ParaState along with other important projects such as Ex-Popolus, Minterest and DeFi Land; as one of the projects to watch out for in the blockchain industry.
This review of ParaState in the News Recap of WW Ventures in the middle of February is more proof of the interest that the community in general has in our platform and disruptive technology in the blockchain?? ecosystem.
ParaState on Crypto Bazzar
On February 18 we were also featured by a major crypto analytics firm on the Twitter social network: Crypto Bazzar.
With an easy-to-digest breakdown and fantastic summary of what ParaState is and the proposed solution on our platform, Crypto Bazzar helped us get our vision out there to the Crypto Twitter community!
ParaState at CoinMarketCap Alexandria
We received more excellent news the first fortnight of February when the educational wing of CoinMarketCap, the most important analysis and monitoring firm in the crypto ecosystem, reviewed us in an excellent and dedicated article on the official Alexandria blog.
You can read this exquisitely well-written piece by Daniel Phillips describing the fundamentals of ParaState, how our multi-chain platform works, and what solutions we propose to bring Ethereum Dapps to Polkadot by following the link below.
ParaState DAO Tutorial
True to the DAO entity that characterizes us, ParaState is revolutionizing the concept of how the latest generation blockchain platforms should be managed.
In an excellent tutorial available since December on YouTube, we walk through what a DAO is, what it means for ParaState, and why the community should care.
In our social network Twitter we wanted to remind you of the importance of ParaState as a DAO, and we spread the word again this February on this fundamental topic.
See our excellent tutorial and learn more about ParaState’s governance and treasury:
ParaState DAO Tutorial - YouTube
ParaState rated Top 10 Projects with market capitalization under $100M by Crypto Eights
On February 24 we were ranked as the fifth project by Crypto Eights, within the ranking of the Top 10 Projects With Market Cap Under $10M.
With a market cap of $9.82M, we were pleased to see our $STATE token in this important ranking generated by one of the most prestigious crypto analysis firms in the industry.
Geminis Network: The first parachain supported by the ParaState advanced technical stack
Thanks to the support of our community in the free exercise of its decentralized governance rights in the survey launched at the beginning of February, we were able to support the Geminis Network launch and its Polkadot Parachain Auction Crowdloan.
The Geminis Network is the first Polkadot parachain supported by the advanced technical stack of ParaState and proof that ParaState's disruptive technology can grant developers the scalability needed to take their Dapps to the next level.
Geminis Network will take part in its first Polkadot Slot Auction number #11 from March 3 to 10, 2022. Geminis Network is using Polkadot’s crowdloan mechanism to back its bid for a parachain slot lease.
Geminis Network is the first parachain in fair launch and supported by the ParaState advanced technical stack. Geminis takes Ethereum chain support to the next level through WasmEdge. Develop and execute high-speed smart contracts with built-in Ethereum compatibility (EVM and EWASM) and interoperability in Solidity, Vyper, and next-level programming languages like Rust, C ++, and Golang.
Learn the details in our post dedicated to this excellent news:
About ParaState
Known as Ethereum on steroids, ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, as well as other chains wanting to provide Ethereum compatibility. While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState.
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