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Today’s guest is Alex Fazel, the cryptocurrency advocate, TEDx speaker, broadcaster, and blockchain educator.
Alex is the Chief Partnership Officer at SwissBorg, a team of finance and technology experts dedicated to democratising crypto wealth management by making it fun, fair and community-centric.
You may also recognise him from our recent 10 Year Anniversary Special where he interviewed me about London Real’s first decade of broadcasting!
SwissBorg’s goal is to open up decentralised investment opportunities to the masses, and with over half a million active community users and currently ranked Top 5 for largest DeFi liquidity providers on the planet, they’re well on their way to achieving that target.
On today’s show, Alex and I will be taking a deep dive into the Polkadot Parachain Auction, to show how anyone can profit from this incredible opportunity known as decentralised crowd loans.
Polkadot is a blockchain network which has been described as a ‘blockchain of blockchains’ because of it’s multi-chain functionality. Polkadot’s multi-chain protocol is designed to facilitate cross-chain transfers of any data or asset type, increasing interoperability between separate networks across the blockchain ecosystem.
The two main structural components of the Polkadot multi-chain are Relay chain and Parachains. Parachains are the last piece of core functionality to be delivered as outlined in the Polkadot whitepaper, and are the key to Polkadot’s scalable multi-chain architecture. They can even connect to external networks such as Bitcoin and Ethereum using cross-network bridges.
The current goal and expectation is that there will be approximately 100 parachain slots available on Polkadot. Parachain slot leases will be secured according to a 1-week candle auction. In the beginning, auctions are likely to occur in batches, with one auction taking place roughly every week during each batch.
Anyone who has registered a parachain can create a new crowd loan campaign for a slot by depositing a specified number of tokens. By giving a loan to a project in exchange for their tokens you will get your initial tokens back PLUS you will receive the project’s token as well.
This is a really exciting opportunity and I’m delighted to have Alex in studio to help walk us through the specifics of these crowd loans and how to find the best potential Polkadot projects out there!
A number of clips from this exclusive interview are now available to download, share and repost. Spread the word: grab these clips today!
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