Efinity joins the league of Polkadot parachain slot auction winners

According to an announcement from Polkadot’s Twitter, the Enfinity will be operational in March 2022 – when it starts to lease seven units, along with other winners from six to eleven auctions.

Efinity becomes the winner of Polkadot’s sixth parachain auction

Efinity joins the Polkadot ecosystem as the cross-chain network poised to facilitate the pricing and exchange of NFTs. The network will process up to 700–1.000 transactions per second based on current benchmarks.

The Efinity token (EFI) will be the main utility deployed on the network. Billed as the “next-generation NFT marketplace,” Efinitly will allow buyers and sellers to create and fulfill orders for any token. Its governance widget will allow voting on proposals and referendums without staking.

Besides, Efinity also announced that it won its slot with 7.7 million DOT contributed by over 20,000 community members, securing its place in the expanding ecosystem.

Polkadot parachains are sovereign but interconnected Layer-1 blockchains – connected and secured by the main relay chain via slots that are leased for up to 96 weeks at a time. This means that Efinity can benefit from Polkadot validators for about two years – with the opportunity to renew the lease.

Ultimately, this is expected to facilitate the development of third-party applications that will use Efinitly parachain to move NFTs to other blockchains.

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