20 million STATE tokens to be awarded among the first 100 dApps deployed on ParaState
ParaState, a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, is pleased to announce its incentive program for the first 100 dApps to be deployed on top of its infrastructure.
The platform plans to deliver through its incentive program 2% of the total supply of its native STATE token to the first 100 decentralized applications that are deployed on its infrastructure after the TGE, in order to boost the development of its ecosystem.
Any company or independent developer that wants to migrate or deploy their use case from scratch to the upper layer of the ParaState infrastructure will be able to benefit from this incentive program proposed by the team within their tokenomics.
20 million STATE tokens will be awarded among the first 100 dApps! GameFi and DeFi protocols and bridges are the priority in the first stage. The grant will be up to $100K in STATE tokens after the TGE. Protocols that have a track record on Ethereum will have a chance to get a higher reward on a case-by-case basis.
Known as Ethereum on steroids, ParaState is taking Ethereum chain support to the next level through a Substrate-based EVM pallet that significantly improves the execution times of smart contracts on which decentralized applications (dApps) run.
ParaState is aware that blockchain interoperability is a norm today for the subsistence of the industry, and that Ethereum is the largest and most important ecosystem in terms of numbers of dApps deployed and therefore, in market volume.
For this reason, ParaState is introducing the industry to a comprehensive solution that includes a Substrate-based WasmEdge (previous SSVM) Pallet which provides natural compatibility with the Ethereum Virtual Machine (EVM), and Ewasm, the industry-leading Ethereum-flavored WebAssembly standard.
Why build dApps in ParaState?
If you are excited about the idea of being able to improve the performance of your decentralized application (dApp), with the advantages of taking advantage of the technical capabilities inherent to the Polkadot ecosystem: high transaction speeds, low fees, security, among others; then you are in the right place.
ParaState presents a multi-chain platform with natural compatibility with Ethereum through its WasmEdge (previously SSVM) Pallet Substrate that provides the possibility to carry out migrations without additional coding and with little effort, if you are developing a use case from scratch.
With the deployment of dApps in ParaState you get benefits such as:
- Improved execution times of the smart contracts deployed in the fastest dApps.
- Multi-chain support through WasmEdge (previously SSVM) virtual machine compatibility with any blockchain platform that wants to integrate support for compatibility with Ethereum.
- Support by technology built on Substrate, resolving the inherent scalability problems of Ethereum and making them a thing of the past, due to the high speeds and low transaction fees that Polkadot offers.
- A better UX/UI experience: ParaState understands the needs and behaviors of users. There are areas of user flow that can be improved (signup, account management, wallet usability) by deploying with a reasonable amount of effort, the front-end UIs of DeFi-focused dApps via Ethereum-compatible blockchains. As a result, DeFi can be easier and safer to use with ParaState support than CeFi, but without circumventing the risks inherent in technology that significantly protects truly inexperienced users. In this way, the challenge of UX resilience is successfully addressed.
- Access to support from a wide community of developers: With support for smart contracts written in more than 20 programming languages, including domain-specific languages (DSL) that allow customizing applications focused on the DeFi sector, ParaState delivers superior performance, security and support for entrepreneurs in the finance industry.
Tools to build dApps in ParaState
With ParaState’s strong technical and resource support, developers can start developing decentralized applications on your infrastructure.
With the Rust programming language at the core of its library offering, ParaState makes the SecondState Ewasm Utility Program (SewUp) library available for developers to build dApps for Web3 applications in DeFi, gaming, NFTs and metaverses.
ParaState’s WasmEdge (previously SSVM) virtual machine for easily creating and migrating Ethereum dApps to high-performance Substrate chains includes the following toolkit available on our Github:
- Rust Sew-up SDK
- BUILDL, a browser-based IDE
- Substrate WasmEdge (previously SSVM) node
With these tools, developers can build Ethereum dApps using the SSVM pallet that run on high performance Substrate blockchains like Polkadot.
Additionally, on Substrate.io developers can find simple tutorials and How-to-Guides on how to implement specific tasks in SewUp, such as conduct a basic storage migration or integrate a pallet into your runtime. ParaState provides step-by-step SewUp instructions for building dApps for NFT marketplaces, storage, and other applications.
Remember, there are 20 million STATE tokens to be awarded among the first 100 dApps that are deployed on ParaState!
About ParaState
Known as Ethereum on steroids, ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, as well as other chains wanting to provide Ethereum compatibility. While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState.
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