January 29, 2023

Polkadot partnered with Coinbase and announces token distribution

Web3 Foundation launched a site where Polkadot tokensale members can get their tokens.

“You can confirm your requirements usingEthereum address verification tool. DOT holders can then generate a Polkadot address. After that, you can associate the token allocation on Ethereum with the Polkadot address and request a DOT through our website », - explained the startup representatives.

Polkadot partnered with Coinbase and announces token distribution

Scheme of preparation for receiving tokens on the eve of the launch of the Mainnet

The company emphasized that the launch of the main Polkadot network will take place in the coming months.

“Creating Polkadot addresses and getting DOT throughThe project website is the first step in the system deployment process. In the next stages, DOT holders will be able to participate in staking and management, as well as create their own parachains ”

The Web3 Foundation has also partnered with Coinbase Custody, which will provide custodial services to DOT token holders.

“After opening an account, Coinbase Custody will generate a DOT address that you can use to receive tokens”, Says the Polkadot website.

Polkadot protocol runs on an algorithmProof-of-Stake is designed to increase the compatibility of various blockchains, for example, Bitcoin and Ethereum. Holders of the internal DOT token act as validators and take part in the voting related to code changes.

Recall that last year the Web3 Foundation successfully held the Polkadot private token sale, according to which the project capitalization increased to $ 1.2 billion.

Also earlier, ForkLog reported that Coinbase is considering listing DOT.