ParaState Newsletter – March 15 – April 15 

The Web 3 Multi-Chain Smart Contracts Platform Is Live! Polis Ambassadorship Positions, Development Team Jobs, and STATE Rewards on the Journey to Mainnet

Towards the end of March from Hanoi Vietnam to Sao Paulo Brazil, ParaState community started to grow around the world, as ParaState has officially launched our Testnet. The fully functional ParaState Polis Testnet went live! 

With contracts developed with the ParaState virtual machine extending the frontier of Ethereum dApps, developers are giddily experimenting, exploring, and innovating with all the compatibilities required to fully exploit the scalability and interoperability of next generation Web 3.0 multi-chain environments. 

As we prepare for Mainnet, we want to share our recent activities leading up to our launch and the many ways you can participate in the development of ParaState, and ultimately the self-evolution of Polkadot, the Web 3 multi-chain to rule them all.  

Testnet Release – Steps Towards Mainnet

Blockchains and dApps built on Ethereum — still the №1 public blockchain with the most applications deploying on it — are anxiously waiting to get on the superhighway of the high performance next generation web, Web 3. 

As a bridge between Ethereum and Polkadot, developers wasted no time rushing onto our on-ramp once the first public phase of ParaState’s public testnet went live at the end of March. Developers are reporting successful results deploying smart contracts for dApps built using the EVM pallet and next-gen smart contract implementation environment, EWASM (Ethereum-flavored WebAssembly) to achieve seamless compatibility with all existing Ethereum applications.

Testnet Live 

The propelling force behind ParaState was to provide developers with an easy BUIDL environment out of the box, so the focus could shift to the exciting business of developing nextgen interoperable Web 3 applications.  ParaState supports fast execution, radical transparency and open-source values so developers can focus on the delivery of novel research.

To that end, Testnet is open to encourage ongoing experimentation and innovation. After all, we took our inspiration from the Platonic Academy, the famous advocate of Academic Skepticism. Don’t trust, Verify it.

What’s next?

  1. Extend operation of Testnet nodes to our community

  2. Align with other prominent project and launch the ParaState hackathon

  3. Public sale during the invincible summer

For information on the testnet phases and how to access the Plato testnet, see the Plato Public Testnet Launch doc.

Record-breaking $5-million Strategic Fundraising Round 

In our recent strategic fundraising round, investors showed strong support for ParaState and our development community. Our strategic fundraising round hit $5 million with backing from close to three dozen investors. Our capital raise was led by KNS Group, along with a contribution from Alameda Ventures. The proceeds from this round will be used to expand ParaState development and the incubation of leading decentralized finance projects. 

Other prominent backers contributing to the round include Signum Capital, HyperChain Capital, BiXin Ventures, Genesis Block Ventures, Inclusion Capital, Gate.io Labs, ZMT Capital, Polkastarter, DAO Maker, DuckDAO, Moonwhale Ventures, Chronos Ventures, Master Ventures, Lotus Capital, Momentum6, Taureon, GenBlock Capital, DDC, Blocksync Ventures, GFS Ventures, Gainz Associates, Titans Ventures, 4SV, WWG, 1Cap, Paka, PNYX, Exstvc and AKG Ventures. Seed round investors CMS Holdings and SevenX Ventures extended their support in this round. 

Introducing Polis — ParaState’s Ambassador Program

Perhaps you would like to be one of those nodes in the ParaState ecosystem — the most active development project among nextgen Web 3 projects. To accommodate the over 100 dApps and growing, we are building out our node network.  Helping to build the ParaState node network is one of many Incentivised Community Initiatives you can perform as a member of the ParaState Ambassador Program.  

Roles range from social media marketing to testing ParaState’s protocol environment and running a node. 

Submit your application early to take part in the program running from April to June 2021.

Choose your role. 

  • Evangelist – Get hands-on and play with the network. Do a deep dive on ParaState tech and promote and educate others about us through workshops, meet-ups, and social media. 

  • Citizen – Want to know how to run a node for a Proof of Stake blockchain? Connect content, guides, and experts to node operators and other knowledge seekers.

  • Spartan – Run a node, deploy a smart contract on the testnet, identify a bug, build a better explorer. You are the guard of the ParaState Polis.

The total budget of the Polis Program exceeds $100,000 in rewards!  Allocations in the ParaState token offering and positions on ParaState’s Dev Team are other perks. 

For the full list of ambassador opportunities, and perks and rewards, see the ParaState Ambassador Program introduction. 

How are you going to contribute to the #BUIDL of Polis?

Apply today: https://forms.gle/ASh9JUkHcUoSscZS6

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