ParaState January Newsletter
With the entrance of a new lunar year, we roared like a tiger into 2022, after a busy month of activities and successes on our way to becoming the first multi-chain smart contracts platform in the industry.
From productive partnerships and rewards to our validators, to the successful IDO of our native STATE token on Republic, January has undoubtedly been one of the best months for ParaState in its short history.
Here are the highlights!
Seeking 12 Official Long-term Ambassadors
ParaState is expanding its ambassador program to continue to grow the project and its community, and attract talented people who will be the voice, face, and thought engine behind ParaState.
Starting this January 25th and following our ancient Greek theme, ParaState has launched two ambassador programs: Hermes (Herald of the Gods) and Hephaestus (God of the Forge) to attract ambassadors to support our marketing and technical development.
In total there are 12 vacancies available for the main regions of the world for ParaState enthusiasts who will join our exclusive team of high-level ambassadors.
For more information on how to become a ParaState ambassador, see the ParaState Call for Ambassadors announcement:
POLIS II: ParaState Call for Official Ambassadors | by ParaState | ParaState | Jan, 2022 | Medium
Vote on the Polkadot Slot Auction
Our ecosystem is growing as more and more platforms are interested in using our technology to take advantage of the technical capabilities and operational benefits that ParaState offers for different use cases.
We are delighted to announce that ParaState's parachain, Geminis Network, will take part in Polkadot Slot Auction number #11 from March 3 to 10, 2022.
As a DAO, we will soon reveal the details of a survey for our community to decide on how to carry out this participation.
ParaState as a Decentralized Autonomous Organization (DAO)
Many enthusiasts of blockchain technology are often confused and unaware of the advantages of a Decentralized Autonomous Organization (DAO).
Because ParaState works like a DAO, we have generated an educational post to help our community understand the advantages of establishing our governance as a completely decentralized environment where the community is the one that decides.
Enjoy this informative post at the following link and learn the concept behind how ParaState works:
ParaState as a Decentralized Autonomous Organization (DAO) | by Dj | ParaState | Dec, 2021 | Medium
Ambassador Reward Winners
In January, we announced the winners of our Polis Ambassadors Program, our technical warriors and social influencers who have allowed us to grow as an ecosystem in the blockchain industry.
Our Ambassadors have helped build and advance ParaState communities around the world, challenge the capabilities of our technology, and test our network for experimental purposes.
In total, $80,000 in $STATE rewards were awarded to our Spartans and Citizens for their valuable contributions to the ParaState ecosystem.
You can find the details of the prizes and how to claim them if you are one of the winners in this post:
Validator Rewards
We were also delighted to announce the allocation of our Validator $STATE rewards for the validators of the ParaState testnet. Validators are the true paladins and protectors of the ParaState network, and for their support we are deeply appreciative.
We were overwhelmed by the number of validators who took up the challenge to Setup a ParaState Testnet Node on the first Substrate blockchain to feature both EWM and Ewasm. Node operators/validators earn $STATE, the ParaState native Ethereum protocol token, in exchange for securing the network.
For their valuable contributions to the ParaState ecosystem, Validators share in the $STATE rewards pool (from transaction fees paid) for generating blocks. For more details on ten validators’ rewards, please see:
ParaState Announces Plato Testnet Validator $STATE Rewards
An Interview With ParaState Founder Marco Chen
On January 6 Bankless DAO, a decentralized community with a mission to help the unbanked, published an interview with our Co-founder Marco Chen.
In this comprehensive interview, Chen discussed all the key aspects of ParaState and its ecosystem including its STATE token, SewUp tool library for deploying high-level Substrate smart contracts, and forecasts for the immediate future.
Find the details of this insightful interview to learn more about ParaState from its creator in this post:
ParaState Hackathon Winners
After a fascinating two-month hackathon co-organized with DoraHacks, we announced on January 12 our winners in the different stipulated categories. Our sincere gratitude to all the developers who participated and contributed your ideas, hard work and dedication, and inspiration to advance ParaState’s development.
Itheum Data DEX, Bwitter and CryptoBank Africa were among the winners of our hackathon bustling with ideas and innovativeness from its start on October 16, 2021.
You can catch up on all the details and the final results of our first successful Hackathon in the following post:
Congrats to the Winners of the ParaState Hackathon | by Dj | ParaState | Jan, 2022 | Medium
OIG Capital Review of ParaState
ParaState is gaining a lot of attention in the industry. We are especially encouraged by the analysis we receive from independent firms in the ecosystem that provide expert reviews on our platform and multi-chain technology.
On January 12, OIG Capital, a private VC that provides fundamental resources to Crypto Projects presented an excellent overview of ParaState. You can check it out on OIG’s official Twitter account here:
The Meter Partnership and Cross-chain Bridges
In the middle of this month, we announced our latest partnership with Meter, a High Performance Blockchain Infrastructure.
This alliance will see ParaState join the fast-growing bridge solution Meter Passport, a multi-chain N-way router that enables seamless asset transfer and smart contract communications between blockchain networks.
This partnership opens up the ability to transfer assets across dozens of other public chains as Meter Passport, one of the fastest growing bridge networks, continues to expand.
Learn about the benefits for ParaState users of this strategic partnership in this post:
IDO Wrap-up
On January 20, our successful Public Offering on Republic platform ended. With an offering of 50 million STATE Tokens, our goal was reached in record time and exceeded our expectations.
Attracting over 2,300 investors, the offer of its native token began on January 12, 2022, and successfully closed with the sale of 43,344,801.92 STATE tokens, hitting a final fundraising amount of more than $7.14 million. There were around $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.
You can find details about our recent public sale, its distribution and location in the next article:
ParaState Successfully Completes Public Offering on Republic | by ParaState | Jan, 2022 | Medium
The best is yet to come!
ParaState continues to work hard in this Year of the Tiger. New partnerships are yet to come, more content is in the pipeline to meet our goal of teaching our community about our vibrant and growing ecosystem, and we will continue to fine-tune the details for the launch of our Mainnet.
Do not miss the news in our next ParaState newsletter: Benefits of participating in hackathons, Tokenomics for the Geminis Network, and a poll on the community vote to decide whether to participate in the next parachain auction, are some of the developments that you will be able to learn more about in our next edition.
Stay tuned! We also plan to go out with a roar!
Happy Chinese Lunar New Year!
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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