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04/12/2024

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Polkadot's Active Addresses Reach Record High

In March, activity within the Polkadot ecosystem surged, accompanied by the community’s decision to appoint IndyCar racer Conor Daly as a brand ambassador.Claim Instant 100,000 Chika Tokens $100 Free New...

Polkadot's Active Addresses Reach Record High

In March, activity within the Polkadot ecosystem surged, accompanied by the community’s decision to appoint IndyCar racer Conor Daly as a brand ambassador.

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Polkadot had a bustling week, with a significant surge in network activity. Additionally, the community showed strong support for the idea of sponsoring a crypto-branded car at the Indy 500, with an overwhelming majority in favor of the initiative.

Polkadot Network Sees Record Activity in March

March marked a milestone for Polkadot as it reached an all-time high in active addresses, totaling over 605,000 by month-end. Data from DotLake reveals that a significant portion of these addresses, accounting for over 41%, were associated with the cross-chain smart contract platform Moonbeam, with 248,286 active addresses. Following closely were 191,861 addresses directly created on the Polkadot network.

Polkadot active addresses. Source: DotLake

Furthermore, the number of unique accounts with non-zero balances also experienced growth, reaching a total of 5,595,829 by the end of March. This represents an increase of 1.11% compared to the previous month and a notable surge of over 13% since the beginning of the year.

Polkadot unique accounts. Source: DotLake

Although transactions on the network saw a slight uptick in March, totaling 11,584,262 compared to the previous month’s 10,808,653, they remain significantly lower than the peak recorded in December 2023, which stood at 31,788,349 transactions.

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Polkadot transactions. Source: DotLake

Conor Daly Chosen as Polkadot Ambassador for Indy 500

In an exciting development, the Polkadot community has voted to enlist IndyCar racing star Conor Daly as their brand ambassador for the upcoming Indy 500 race in May. The decision came after a community proposal garnered an overwhelming 95.8% approval rate.

As part of the partnership, 290,000 DOT tokens, valued at approximately $2.1 million, will be allocated to cover the $1.7 million commercial sponsorship fee for Daly’s race team, along with additional expenses.

Expressing his gratitude for the community’s support, Daly remarked, “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.” He further emphasized the significance of the community’s decision, highlighting its reflection of the potential of a more free and open internet in the future.

Base Racing League Unveiled on Polkadot

Exiled Racers, the NFT-based racing and prediction management game, has unveiled Base Racing League, a groundbreaking hybrid cross-chain racing experience built on the Polkadot ecosystem project, Moonbeam Network.

Buckle up 🏁 @exiledracers just announced their new Base Racing League for low-touch gaming and the first hybrid cross-chain racing experience leveraging @MoonbeamNetwork!

👀 See the announcement and learn more about how to get involved 👇 https://t.co/GpEORPM1zd

— Polkadot (@Polkadot) April 10, 2024

Base Racing League promises an exhilarating gaming experience with its weekly Havoc Race Reveals and Battles, where players compete for rewards and partner prize pools. What sets it apart is its free-to-play model, accessible to all players with an allowlist race pass.

At the core of Exiled Racers’ infrastructure lies Moonbeam Network, an Ethereum-compatible smart contract platform on Polkadot. This innovative platform enables decentralized applications (dapps) like Exiled Racers to seamlessly access users, assets, and services across multiple blockchain networks.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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