As with a wedding or groom who changes their mind before the fatal “I do,” one candidate withdrew early from the much-anticipated Polkadot Parachain Slot Auctions. Now, further information have surfaced.
SubDAO, a Polkadot-based DAO system, said in a statement, “After careful deliberation and debate with the development team, SubDAO Labs has formally decided to halt the Polkadot Parachain Slot Auction and emphasise collaboration with other parachains. SubDAO will begin by deploying its contracts on Moonriver as a means of collaborating with other parachains.”
SubDAO [GOV] cited a number of reasons for the decision, including other growth opportunities, several XCM releases, and excessive prices.
Regarding the first reason, SubDAO said that there were further technical concepts it might investigate in order to become a member of the Polkadot ecosystem – such as Substrate and generic Modules.
SubDAO then explored XCM, a “cross-consensus messaging format” designed to facilitate communication across chains. SubDAO, on the other hand, reported that there were several XCM changes, resulting in time loss and issues.
Finally, the SubDAO said, “At this point, even if we get a Polkadot parachain slot, the auctioned lease will be squandered on debugging and networking. Simultaneously, the debugging and networking processes divert developers’ focus away from their primary business.” Finally, SubDAO voiced concern that maintaining a parachain would be an excessive cost burden.
So, while SubDAO does some introspection, what is the next step? The cross-chain DAO protocol announced its decision to use Moonriver for contract deployment. The Moonriver Network, which Moonbeam refers to as its “sister network,” is a developing parachain on the Kusama Network.
Meanwhile, OKEx verified SubDAO’s declaration and its decision to award voters with DOT. Additionally, SubDAO declared that it will burn 20% of all GOV tokens in circulation in order to fund its new plan.
Sonata in the moonlight
Is the ninth largest blockchain in terms of market capitalization all that it is cracked up to be? Max Maher, a cryptocurrency researcher, compared Polkadot [DOT] with Cosmos [ATOM] using a variety of measures. Despite the disparity in market capitalizations, Maher discovered that when estimating the network’s worth using Metcalfe’s Law, Cosmos would only need to expand by 49% to reach Polkadot’s level.
Maher continued by suggesting that Polkadot may be overpriced in relation to Cosmos, or that Cosmos may be undervalued.
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