Top analyst Elliot Wainman unveils 5 Polkadot projects that are in the best position to receive a parachain slot

High-profile crypto trader Elliot Wainman shares with his subscribers 5 Polkadot gems that are most likely to secure a parachain slot on Polkadot with 100x potential.

Moonbeam (GLMR)

Moonbeam is a blockchain project built back in January 2020 as a way to tackle cross-chain interoperability challenges, it is an Ethereum compatible smart contract parachain on Polkadot.

“This is one of the most likely projects to receive a parachain slot,”

The trader highlights that since its launch, Moonbeam has been able to secure major partnerships with the likes of Linear Finance, Sushi Swap, Bet Protocol, Injective Protocol, and others committing to building their projects on Moonbeam as it offers an easy path for them to extend their reach to the Polkadot network.

Besides, Moonbeam has already managed to secure a Web3 Foundation Grant for a Pallet-dPOS for Parachain staking.

Acala (ACA)

Acala is positioned to be the Defi Hub on Polkadot, and since many of the existing Defi contracts are deployed on Ethereum, Acala has also taken Ethereum compatibility into consideration.

“This is by all means the most sort of legitimized project in the space… It is an absolutely monstrous project and it is in my opinion the most likely to get this slot based on a variety of factors,”

Acala aims to be Polkadot’s DeFi suite. It would grant all Ethereum financial Dapps the ability to deploy smart contracts and offering staking. Analyst Wainman also points out that not only has Acala secured three Web 3 Foundation grants, but all of the deliverables have also been completed.

Besides, many of the industry’s most prestigious investors are backing the project as well. They have also partnered with the most popular projects that are aiming to secure a parachain slot.

Centrifuge (CFG)

Centrifuge is a decentralized finance (DeFi) lending protocol that aims to make credit more accessible to small businesses, while also providing a stable yield for investors by opening pooled liquidity to the world of traditional finance.

Centrifuge has followed Ethereum standards while developing their NFT capabilities and the Tinlake protocol. In this way, Centrifuge bridges the Polkadot and Ethereum ecosystems, attempting to leverage the benefits each has to offer.

Wainman strongly highlights that Centrifuge has secured and completed the deliverables for two Web 3 Foundation grants. It also has a notable list of investors in which Galaxy Digital being the most notable investors and partners.

Bit.Country (NUUM)

According to the crypto KOL, this is probably the most interesting project on the list. Bit.Country is a project that will allow anyone to build their own metaverse for their community of supporters, family, friends, etc.

Within the network, users will have the ability to mint NFTs, stake tokens (NUUM), and purchase land. However, the crypto KOL points out that Bit.Country is the only project in today’s list that is still waiting on a Kusama slot for its canary project.

Astar (ASTR)

Astar (ASTR) is the Polkadot-native dApp hub supporting Ethereum, WebAssembly, dApp Staking, and Layer2 solution. While Aster is one that is not as popular as the other projects, Wainman says that its fundamentals are as bullish as ever.

“The team has received five Web 3 Foundation grants with three of the deliverables already completed. Astar also has a very impressive ecosystem with big names including Microsoft, Chainlink, Ankr, etc.,”

Similar to every other project listed, Astar also has a sister project, which is Shiden Network and it is currently on Kusama. The Shiden Network was the third project to win a Kusama slot.

You might also like