Polkadot June 2024 Report: Snowbridge Usage Surge and Generic Ledger App

Polkadot’s June 2024 report highlights a surge in Snowbridge usage, updates on the Alpha Program and parachains, new features in the Generic Ledger app, and strong core metrics supporting its position as the world’s largest DAO.

Snowbridge Update

The Polkadot Network recently released its monthly report with all the latest tech updates, key metrics, and discussions within the Polkadot ecosystem for June 2024. One of the most noteworthy developments of the month is the increasing usage of Snowbridge, the Polkadot-Ethereum bridge launched less than a month ago. Almost 700 ETH have been sent without using multisigs via the trustless, decentralized bridge from the Ethereum network to Polkadot’s Asset Hub. 

Updates on the Alpha Program

The report also provided updates on the network’s Alpha Program, a gateway to exciting development opportunities. This is especially true for the seven new teams that joined in June, who will now have the chance to benefit from Substrate advisory calls and code reviews thanks to Blockdeep Labs, a recent addition to the Alpha Program. 

The program has also reportedly incorporated a wishlist feature, which allows the different teams to actively participate and provide developer and user feedback on GitHub. 

Parachain-Related Updates

Another update from the Polkadot ecosystem involves the OpenZeppelin team, which has reportedly finished developing a feature-rich EVM Parachain Runtime Template that will soon be published after being audited. The Generic Runtime Template has already been audited and was merged and integrated with POP CLI, which allows quick deployment of Polkadot parachains. 

OpenZeppelin has also requested more funds from the Polkadot treasury to support its work on developing and deploying secure parachains in the Polkadot ecosystem. 

The monthly report also brings good news for users of the Polkadot Generic Ledger app. Version 1.2.5 is now live, fully compatible with the Polkadot relay chain and the appropriate parachains. This expanded compatibility enhances the user experience and opens up new possibilities for the app’s functionality. 

Core Metric Reports

Other than the technical updates, the report also discussed some core metrics that supported Polkadot’s position as the world’s largest DAO despite voter turnout dropping slightly from last month. There were a total of 1131 unique voters in June. There were also 103 referenda, 65 of which were approved, 25 rejected, 11 timed out, and two canceled. 

Furthermore, as per its GitHub activity, developer metrics also saw a significant increase, with the total number of repositories in the Polkadot Network at a whopping 27810. Weekly commits are almost touching the 5000 mark, with an average of 750 to 850 developers have been active each week of June. 

The Polkadot forum also saw significant action, with 153 new faces, 92 new topics, and 531 new posts. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.