On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Binance has mobilized nearly one-quarter of its Polkadot ecosystem fund to lead Plasm Network’s Series A funding round.
Binance Labs has led a $2.4 million Series A funding round for Polkadot-based smart contract platform, Plasm Network.
Plasm Network's funding round is the first investment made using Binance Labs’ $10 million fund to support projects in the Polkadot ecosystem. Plasm is a leading parachain candidate on Polkadot supporting Ethereum and Layer-2 scaling solutions.
Binance Labs is the venture capital and incubator arm of crypto exchange giant Binance. In December 2020, Binance Labs led a $12 million funding round for MATH, a multi-chain assets hub behind MathWallet. In August of the same year it made a strategic investment in decentralized streaming protocol Audius.
According to the announcement, Binance Labs investment will enable Plasm Network to develop on-chain governance, build a bridge between the Polkadot and Ethereum networks, and accelerate research and development.
Plasm also raised money from notable crypto-notables HashKey, LongHash, Digital Finance Group, and PAKA Ventures.
Polkadot is a high-throughput blockchain network that uses a multi-chain approach to achieve greater scalability than networks built on top of a single blockchain.
Wei Zhou, head of Binance Labs, praised the network for its recent achievements, stating;
“We have been very impressed by Plasm Network’s growth since its launch. The first parachain connected to the Rococo-V1 Parachains Testnet is one of the most promising parachain candidates for Polkadot mainnet. By investing and supporting Plasm, we are demonstrating our commitment to supporting the growth and development of [the] Polkadot ecosystem.”
Plasm recently won the first Polkadot testnet parachain slot, deploying the first-ever smart contract on Polkadot’s “Rococo” testnet.
The news likely boosted Polkadot’s native token, DOT, which had just hit an all-time high of $23.90 at the time of writing after gaining 20% in 24 hours.
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