- A strategic partnership between ZodiaCustody and ParityTech aims to streamline institutional staking within the Polkadot ecosystem.
- Despite challenges, DOT’s social engagement statistics depict a positive narrative, showing increased attention from crypto enthusiasts.
According to a recent tweet by Polkadot @Polkadot, a groundbreaking collaboration is underway between ZodiaCustody and ParityTech. This alliance focuses on transforming the staking horizon by allowing institutional players an easier ingress to the Polkadot network, including active involvement in the staking mechanism.
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🚨 A new long-term strategic partnership between @ZodiaCustody and @paritytech will enable institutional access – including staking – to the Polkadot ecosystem! pic.twitter.com/BO8hocrI73— Polkadot (@Polkadot) September 13, 2023
Enhancing the Ecosystem with Custody Services
Apart from merely providing a platform for staking, this synergy also endeavors to offer indispensable custody services, further bolstering the Polkadot ecosystem.
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Interestingly, as the volume of staked DOT observed a surge in the recent past, the rewards for staking simultaneously witnessed a dip. Such dynamics inevitably lead to discussions about the long-term viability of the staking model and its attractiveness to its users.
DOT’s Community Sentiments
There’s been a palpable shift in the public sentiment regarding DOT over the previous weeks, which might send ripples throughout the market, potentially influencing both individual and institutional investment decisions. Notwithstanding these obstacles, DOT showcased an impressive 64% rise in community engagement, and references to DOT in discussions spiked by 16.4%. Such metrics indicate that, despite challenges, DOT continues to captivate the attention of the crypto community.
Over a span of the last month, DOT experienced a decrease in its value, dwindling from $5.05 to a current price of $4.149. The network also seemed to witness a reduction in developmental activities, hinting at a potential slowdown in innovations. Additionally, DOT’s price demonstrated considerable volatility, which might have implications on its trading environment and could play a decisive role in shaping its future trajectory.
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