Polkadot has seen significant developments over the past week, with the network’s active addresses hitting a record 600,000 and a community-driven initiative that fueled a groundbreaking sports sponsorship.
However, the DOT price has seen a considerable decline over the past week and is down by over 14% over the past 24 hours.
Polkadot Considering Branding Proposal For Paris Olympics Sponsorship
Polkadot’s governance forum has been actively considering a proposal to promote the network at the upcoming Paris Olympic Games through a $160,000 bike branding proposal. The Olympics is the world’s premier sports competition, occurring every four years and involving athletes from across the globe. The last games had a viewership of over 3 billion, with engagement expected to increase significantly for the Paris event. If approved, the initiative will provide Polkadot with a significant marketing avenue.
The initiative was proposed by Oribiky, a self-service electric bike rental based in Paris, and would see the deployment of 100 Polkadot-branded bikes in several strategic locations around Seine-Saint-Denis. The proposal also discusses the development of mobile apps on Android and iOS that would integrate a cryptocurrency payment module using STRIPE’s solution.
“The project entails deploying a fleet of 100 Polkadot-branded electric-assist bikes in high-traffic areas and developing iOS and Android mobile applications that reflect the Polkadot brand and logo. These applications will integrate a cryptocurrency payment module using STRIPE’s solution.”
Active Addresses Hit Record 600,000
Active addresses on Polkadot also hit a record, surpassing 600,000 by the end of March. Out of these active addresses, 41% were attributed to the cross-chain smart contract platform Moonbeam. A further 191,000 addresses were created directly on Polkadot itself. The network has also witnessed a spike in unique accounts with non-zero balances, with the figure crossing 5.59 million by the end of March. The increase in active addresses and non-zero balance accounts on Polkadot indicates growing activity in the Polkadot ecosystem, with several projects leveraging block space to ensure efficient network operations.
“Activity continues to grow in the Polkadot ecosystem, where many apps use dedicated blockspace to prevent issues like network spam. Polkadot is about flexibility without compromising on resilience. In the end, this benefits the users.”
However, despite the surge in activity on Polkadot, transactions on the network have remained muted. March witnessed a total of 11.58 million transactions, only a slight increase compared to the previous month.
A Groundbreaking Sponsorship
In a historic first, the Polkadot community also used an on-chain community vote and selected IndyCar racing star Conor Daly as the Polkadot brand ambassador for the upcoming Indianapolis 500. This is the first time a major athlete’s sponsorship has been determined by a community vote using blockchain technology. The proposal to sponsor Daly was passed with an overwhelming 95.8% approval, highlighting the Polkadot community’s enthusiasm to showcase blockchain technology and its real-world applications. It also allows the project to share its vision for a freer and more open web.
“The fact that thousands of individuals in the Polkadot community – not a corporate marketing team – used their voices to vote and select me as their ambassador is an incredible honor and reflective of the power of what a more free and open internet can look like in the future.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
