Polkadot Raises $43M in 72-Hour Private Sale: Source
A second private sale of the Polkadot token (DOT) has netted some 3,982.07 BTC worth an estimated $43.3 million as of press time, according to sources.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6HOBXETH25HGRKPGZUG5MK5DSU.jpg)
(BitInfoCharts Block Explorer/CoinDesk Research)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
A second private sale of the Polkadot token (DOT) netted the Web3 Foundation and Parity Technologies some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million at press time, according to sources.
A bitcoin address shared with CoinDesk saw 1,059 transactions beginning July 24 at 5:22 UTC.
Additionally, the Polkadot community voted to redenominate the smallest subunit of the DOT token, the Planck, this past weekend for a “simpler, smoother user experience when using DOTs within the network,” the Web3 Foundation said in a tweet.
“The community vastly favours a New DOT denomination which is defined as 10,000,000,000 Planck or, put alternatively, a ‘stock-split’ of the original, old DOT by one hundred,” Polkadot and Parity Technologies founder Gavin Wood said in a July 26 blog post.
Polkadot raised $145 million in 2017, selling 50% of the network’s then 10 million dots, according to Messari. (The number of dot tokens has since risen, following the redenomination vote.)
Polkadot’s raise comes on the heels of last week’s $42 million public sale of the Avalanche blockchain’s avax token.
Zack Voell contributed reporting.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.