Road to becoming a Polkadot Parachain

Sota Watanabe
Sep 15, 2020 · 5 min read

Disclaimer: The road-map described here is based on current environment, and it is subject to change according to future Polkadot announcements.

Plasm Network is a scalable smart contract on Polkadot supporting cutting edge layer2 solutions. From the beginning, our highest priority is to become a Parachain of Polkadot Network.

Recently, we have received a lot of questions about the network’s road-map and future plans. Because the date of the Parachain Auction is not made public yet, it is very difficult for us to create an accurate long-term timeline for the project. Instead, we try to make ourselves flexible and withstand any odds that might strike us. Having said this, this article will try to explain what our goals are, what we expect in the future and a rough timeline of how we want Plasm Network to grow.

Let’s go through these phases, one-by-one.

Phase1

We have been discussing the auction mechanism with college professors. And, we realized that multi-assets auction highly likely causes the division of votes because a DOT holder who wants to support us can join lockdrop with ETH instead of DOT if we have multiple choices. Actually, this is not beneficial at all since we need DOTs to win the auction.

As we learn from history, we have a similar example from an election.

At first, Gore was expected to beat Bush at the 2000 presidential election of the U.S. But at some point, Nader also ran for president. Nader’s policies were closer to Gore’s, so that some of the supporters of Gore voted for Nader in the election. As a result, Bush luckily won the election by a very narrow margin. The 2000 U.S presidential election had some other troubles, but anyway, this “division of votes” was one of the main reasons why Bush has beaten Gore. Such a division of votes is undesirable because it interrupts respecting a majority opinion. But this type of division can be widely observed in elections that employ the plurality rule.

It was really tough decision for us to change the original strategy but we believe we should focus 100% on the paracahin auction to be the Polkadot Parachain. This is our major milestone from day 1.

Phase2

50% of the block reward goes to validators and the other 50% goes to the contributors. Please check our documentation for the details.

For features related to layer 2 protocols, our first step will be implementing the Optimistic Virtual Machine, a unification for all layer 2 protocols. Learn more from here.

Phase3

Phase4

However, some people might think that we should list token now because Polkadot attracts a lot of attention. Of course, jumping in the bandwagon will give us a bit of a spike. But we believe that the little price spike we get does not match the long-term value that our network will gain.

We will make this explicit as possible; our vision is to create an infrastructure that can be used for generations, and be part of the next innovation of blockchains that can truly make Web3.0 a reality.

We will list the PLM token when the time is right.

Phase5

Website | Twitter | Telegram | Discord | GitHub | Lockdrop

For further information, follow us on Twitter and Telegram.

Astar Network (Previously Plasm)

Astar is the Multi Chain Polkadot dApp Hub