Polkadex’s Crowdloan Campaign Raises $13.8M to Secure 16th Polkadot Parachain Slot

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Polkadex, a fully decentralized, peer-to-peer order book-based cryptocurrency exchange for the DeFi ecosystem built on Substrate, has recently won the 16th Polkadot parachain slot auction, achieving the milestone on May 6 with 973,324 DOTs ($13.8M worth) from more than 6,000 contributors within its community.

It is worth noting that Polkadex is also the first Parachain auction to cross 90% of its target cap of $1M and the largest Crowdloan in Batch 3. 

Winning the 16th Polkadot parachain slot is an important milestone for Polkadex that has allowed it to become interoperable with other Polkadot parachain projects all while sharing the security of the Polkadot blockchain. 

After obtaining a parachain slot, Polkadex is closer to fulfilling its mission of becoming the trading engine for DeFi and Web3.

Polkadex COO Deepansh Singh has said:

“Thanks to the Polkadex parachain we will be able to bridge assets with the Dotsama ecosystem and now users will be able to trade Polkadot ecosystem tokens from across the whole spectrum of parachains. This is a first for Polkadot and a first for DeFi as a whole.”

Polkadex has also partnered with several Polkadot DeFi platforms, including Parallel Finance and Equilibrium, and centralized exchanges like KuCoin and Kraken, to give its community more opportunities to participate and more rewards for doing so.