PolkadotLong
DOT: Pontem Network Dev Activity Increasing FB Diem
By now if you've been reading my content you will know that PolkaDot and FaceBook Diem have some interoperability as Pontem Network is building a bridge b/w PolkaDot and FB Diem to allow interoperability between the two ventures.
Diem will be a stablecoin that allows one to interact digitally with USD, Euros, Yen, GBP, etc and also a composite digital coin called DX that will weight each global currency in a basket. Diem has not announced yet what that basket will look like but it will probably mirror something pretty close to the IMF's SDR (Special Drawing Rights) which was actually originally defined as 0.888671 grams of fine gold.
Pontem Network Github Activity
At any rate, developer activity on Pontem is now picking up as registered by number of Github events. The number of events has really begun to tick up in 2022 which means we are likely to see FacebBook announce the launch of Diem soon (Q1 2022?). It was originally slated for year-end 2021 but considering FB is waiting for regulatory approval from the US Treasury which has already been green-lighted by Yellen verbally, we should hear some more chatter in the coming days/weeks from the Fed and Treasury regarding Diem's approval (which is going to happen, just a matter of when). The fact the github events are increasing in frequency though tells us that we are likely approaching that key date. At any rate, so far devs can already begin creating dApps for Diem using PolkaDot's substrate since Pontem is the network designed to use the same protocol language as Diem (Move). To see the dev activity, check out the chart in the below link.
Pontem already is officially named as a PolkaDot auction contender on Parachains.info website:
parachains.info/details/pontem
Also, Pontem has been given a Web3 Foundation grant which means it is a serious project building on PolkaDot if it's given this sort of preference to help speed development.
Lastly, the 16 investors backing Pontem are the best in the industry and unsurprisingly so considering how much impact Pontem will have connecting DOT and Diem - list below (see the list in the above link):
Alameda Research
NGC Ventures
Kenetic
Altonomy
Animoca Brands
AU21 Capital
CMS Holdings
Delphi Ventures
GBV
GIBC
Mechanism Capital
Momentum 6
Morningstar Ventures
ROK Capital
Spartan
Taureon
With that said, it's my opinion that DOT has bottomed using the modified pitchfork and is now on its way to new ATHs. I think we will see triple digits in DOT by Q2 2022. Fib timezones suggest end of February could be an integral date to watch - I think we hit a new ATH by end of Feb, heading into March as we begin hearing more about FB Diem and as more Parachains launch and the current parachains begin producingng more dApps like Acala and Moonbeam. Exciting times for DOT
Diem will be a stablecoin that allows one to interact digitally with USD, Euros, Yen, GBP, etc and also a composite digital coin called DX that will weight each global currency in a basket. Diem has not announced yet what that basket will look like but it will probably mirror something pretty close to the IMF's SDR (Special Drawing Rights) which was actually originally defined as 0.888671 grams of fine gold.
Pontem Network Github Activity
At any rate, developer activity on Pontem is now picking up as registered by number of Github events. The number of events has really begun to tick up in 2022 which means we are likely to see FacebBook announce the launch of Diem soon (Q1 2022?). It was originally slated for year-end 2021 but considering FB is waiting for regulatory approval from the US Treasury which has already been green-lighted by Yellen verbally, we should hear some more chatter in the coming days/weeks from the Fed and Treasury regarding Diem's approval (which is going to happen, just a matter of when). The fact the github events are increasing in frequency though tells us that we are likely approaching that key date. At any rate, so far devs can already begin creating dApps for Diem using PolkaDot's substrate since Pontem is the network designed to use the same protocol language as Diem (Move). To see the dev activity, check out the chart in the below link.
Pontem already is officially named as a PolkaDot auction contender on Parachains.info website:
parachains.info/details/pontem
Also, Pontem has been given a Web3 Foundation grant which means it is a serious project building on PolkaDot if it's given this sort of preference to help speed development.
Lastly, the 16 investors backing Pontem are the best in the industry and unsurprisingly so considering how much impact Pontem will have connecting DOT and Diem - list below (see the list in the above link):
Alameda Research
NGC Ventures
Kenetic
Altonomy
Animoca Brands
AU21 Capital
CMS Holdings
Delphi Ventures
GBV
GIBC
Mechanism Capital
Momentum 6
Morningstar Ventures
ROK Capital
Spartan
Taureon
With that said, it's my opinion that DOT has bottomed using the modified pitchfork and is now on its way to new ATHs. I think we will see triple digits in DOT by Q2 2022. Fib timezones suggest end of February could be an integral date to watch - I think we hit a new ATH by end of Feb, heading into March as we begin hearing more about FB Diem and as more Parachains launch and the current parachains begin producingng more dApps like Acala and Moonbeam. Exciting times for DOT
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.