Polkadot Referendums and Kusama Auctions are gaining traction. While proposals are still being put forward a discussion centering on the Polkadot Hub is brewing amongst key players. The Polkadot blockchain network relies on a governance protocol that allows users to gain power over network decisions. Users are given the power to make proposals, make collective decisions on who can become a council member, prioritize and even vote on the referendums. Very recently, Polkadot referendums and Kusama auctions have been a hot topic on the market as users vote in open government referendums. Taking to Twitter, a Web3 educator shed some light on the current state of things, revealing a handful of referendum proposals. He first noted that there are only two days left in the current parachain lease auction 43.
Currently, anonymous parathread ID 3336 has been in the lead for most of the ending period. Parachain auctions are becoming more popular as the market continues to advance. These auctions are typically carried out on the Polkadot relay chain or sometimes on Kusama, the public pre-production environment for Polkadot. This is done in order to figure out the fitting blockchain network that can merge with the parachain slot. As soon as auctions begin, projects on the network can proceed to put forward their bid to the relay chain. Typically, auctions follow a similar pattern on Polkadot and Kusama. The existing teams place their bids by using their bid amount and slot duration. Meanwhile, project teams can carry out bids using DOT, the Polkadot native token, or KSM, the native token for Kusama. Notably, Referendum 114 is proposing to onboard a Bridge Hub system parachain to Polkadot. With only 7 days left to vote, the referendum is currently ahead with a staggering 99.9 percent voting in its favor.
Meanwhile, Referendum 115 is proposing to open three new HRMP channels between Statemint and Bitgreen/Subsocial/Manta, while Referendum 117 is seeking a force_transfer back to the Treasury from a previous Treasury Proposal. Key figures discuss the creation of the new Polkadot Hub in South-East Asia Meanwhile, there’s been an ongoing discussion around establishing Polkadot Hubs in South-East Asia by Polkadot’s Head of Ambassador of Eastern Europe.Follow us for the latest crypto news! Our proposal is focused on creating a physical Polkadot Hub in Denpasar, Bali which serves as an experimental research and a strong case study on the Polkadot Hubs concept (long-term physical locations all over the world) while bringing the enthusiastic APAC-based Polkadot community together. Starting in January, we have embarked on an exciting new project to develop the first-ever global Polkadot Hubs framework and educational materials. Real-world experience is necessary for the provision of a realistic and tested blueprint, so as to facilitate the future Hubs. The project kicked off in the first physical hub focusing on the Polkadot ecosystem known as Polkadot’s Sanctuary. The hub which is located in Denpasar, Indonesia seeks to serve the rising local community.Subscribe to our daily newsletter!
Source : [Polkadot Referendums and Kusama Auctions Heat Up - All Eyes on Web3's Hottest Networks](www.crypto-news-flash.com/polkadot-referendums-and-kusama-auctions-heat-up-all-eyes-on-web3s-hottest-networks/) by Olivia Brooke - Crypto News Flash by Olivia Brooke / May 09, 2023