Interlay Won Polkadot’s 10th Parachain Slot Auction With 2,751,900 DOT Locked.

Interlay (INTR) is the most recent title to be granted a parachain spot, which will be issued on the Polkadot network in March.

Polkadot revealed the winner of the tenth chain guard auction on the evening of February 24, under the winning title Interlay (INTR). In all, Interlay acquired 2.75 million DOT blocks from more than 11,600 Polkadot supporters.

Interlay is a cross-chain bridge that connects Polkadot with Bitcoin. The project will create an interBTC version of the BTC token on Polkadot, from which customers will be able to utilize the world’s largest cryptocurrency as a result of Polkadot’s increasing ecosystem. The project is similar to Interlay, however it is wrapped in Bitcoin on Ethereum (WBTC).

Although this Interlay feature is far more restricted than comparable tasks that have won the Polkadot parachain slot, such as Astar Network (ASTR), Clover Finance (CLV), Composable Finance (LAYR), and HydraX (HDX), the ability to connect and use Bitcoin – a crypto network that has consistently been popular for becoming independent of the development of the DeFi industry – will aid Interlay make its competitive edge as well as demonstrate its exclusive use.

Kintsugi, Interlay’s “sister” project, earlier won the parachain auction and was distributed on Kusama, Polkadot’s experimental blockchain.

The eleventh and last Polkadot Parachain sale of the second auction will be place from March 3 to March 10, 2022, with the vigorous involvement of tasks such as Darwinia, Litentry, and Equilibrium.

The platform will join other projects in Phase two, including Efinity (EFI), Composable Finance (LAYR), Centrifuge (CFG), HydraX (HDX), and the eleventh installment, which will be deployed on the Polkadot network on March 11, 2022. The leasing term for parachain slots has been extended until January 2024.

Furthermore, Polkadot has agreed to the upcoming auction plan. Polkadot will undertake four auctions in 2022, each lasting twelve weeks, and will select seven projects to have the right to lease parachain spaces.

The first two winning tasks of each batch will be published on the Polkadot blockchain immediately, while the remaining five jobs will have to wait until the blockchain’s impending deployment alongside the first two tasks of the auction.

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