Hello Everyone,

Today I’m going to introduce a Project which i consider as Top Tier among other projects,it’s Called ParaState!

ParaState aims to bridge the application and developer ecosystem between Polkadot and Ethereum for Substrated-based blockchains, such as Polkadot parachains and other chains that want to provide Ethereum compatibilities, by extending the frontier of Ethereum with the Substrate framework.

Since a majority of top-tier DeFi projects are built on Ethereum, these projects require compatibility with other blockchains to utilize improvements such as scalability and interoperability crucial to their continued growth and competitiveness in the Space.

•Large Developer Community

•Scalable Framework

•Substrate + Ethereum
•Received Web 3 Grant
•Token Backed by Developer Treasuries

How Developers Benefit from Parastate ?
°Developers From Any Community Can Write Their Etherium Compatibile Smart Contract In any Popular Programing Language and Run it On PolkaDot Ecosystem Much Faster and Optimized.Also The Already Established Smart Contracts/Projects can be Easily Moved To PolkaDot Without Any New Smart contract needed and Run Easily On PolkaDot By Parastate.

How $STATE Token plays an important role in Parastate?

$STATE is a Token Backed by Developer Treasuries,All Substrate blockchains that utilize the Pallet SSVM agree to collect a percentage of gas on all Ewasm transactions and contribute it to a developer treasury managed by the ParaState foundation. The STATE token from ParaState is “backed by” a basket of native parachain tokens contributed to the developer treasure as ParaState gains developer adoption and use.

Token Utility
$STATE is the utility token of the ParaState ecosystem. $STATE token serves multiple utility purposes in the ecosystem.

  1. Gas fees to execute smart contracts and transactions on ParaState.
  2. Rewards to Node Operators and Developers.
  3. Used for Governance.

How to Run a ParaState Node?

Ans) Try running a ParaState node,
https://github.com/ ParaState/ frontier/wiki/ ParaState-
Testnet-Node-Setup-Guideline

Latest News: ParaState has Successfully completed a $5.5M private Fundraising Round 🔥

https://cointelegraph.com/press-releases/parastate-successfully-closes-a-new-55-million-private-fundraising-round/amp

•Backers & Partners

Please Stay Tuned For More Information’s and Announcements in the Future.
Thank you!

Important project Links:
Official Website: www.parastate.io
Discord:https://discord.com/invite/DgKNeJFXA
Telegram: https://t.me/ParaState
Twitter: https://twitter.com/_ParaState

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