Polkadot Announces $770 Million Eco-Development Fund on Oct. 17

TokenInsight News, Polkadot founder Gavin Wood announced on October 17 the allocation of 18.9 million $DOT (currently valued at $777 million) from the Polkadot Treasury for an eco-development fund that will be managed and disbursed through DAO. The new development fund was also disclosed just weeks before the start of Polkadot's highly anticipated parallel chain slot auction, suggesting that the funds may be intended to drive development against Polkadot's upcoming parallel chain ecosystem.