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Home Latest News Defi Polkadot launches DeFi alliance with Chainlink and will let 1000 nodes bloom

Polkadot launches DeFi alliance with Chainlink and will let 1000 nodes bloom

Polkadot is making steps to develop its ecosystem, announcing a new DeFi Partnership along with a new validator support program.

Polkadot has been the latest challenger for Ethereum to launch a decentralized alliance in finance.

The partnership, announced on December 3, aims to overcome the decentralized existence of the Polkadot ecosystem, providing its community with a network to explore the use of the Polkadot Network for DeFi and its underlying Substrate technology stack.

Oracle network Chainlink is among the alliance’s founding members. The company’s global head of business development, Dan Kochis, said: “Chainlink is excited to help steer the direction of Polkadot’s growing ecosystem of decentralized financial applications. By promoting developer best practices for DeFi protocols, the Polkadot ecosystem can become stronger than ever.” 

Other founder participants include the layer 2 technology provider, the Plasm Network, the decentralized insurance market, Tidal Finance, and the non-custodial automated market producer, Polkaswap. 

The alliance is currently accepting applications from developers building on Polkadot Network or Substrate. The alliance is currently accepting applications from developers building on Polkadot Network or Substrate.

Polkadot has also just announced the introduction of this month’s “thousand validators” scheme, which will include support and rewards to individuals seeking to operate the Polkadot node in a bid to increase the number of its validators by 1,000.

The program builds on the same program that was introduced in February on the Polkadot sister-network and Kusama parachain. Although in February, Kusama’s node count was close to 180, the network now has 700 active validators with a further 393 pending.The network actually consists of only 249 validators, considering the stake of two-thirds of Polkadot’s supply, suggesting that many stakeholders chose to use third-party service providers.

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