Polkadot, a next-gen blockchain protocol created by Ethereum co-founder Gavin Wood, has 500,000 of its DOT tokens at an unknown price. However, according to a report by The Block, the sale is on track with the $1.2 billion valuation mentioned in a report earlier this year.
Polkadot is the first project from the Web3 Foundation (W3F) stables, which aims to build a decentralised internet. Polkadot want to facilitate cross-chain messaging across different protocols, allowing interoperability and scalability.
The foundation has liquidated and sold 5% of the total token supply in the latest round of token sales. W3F is also said to have offered discounts sales to investors who wanted to buy at large volumes or projects that could build on the protocol.
The Polkadot token sale has been plagued with rumours with some reports stating that the project may not touch its $1 billion valuation. DOT tokens from their first token sale also found its way into the secondary markets through OTC desks earlier this year. The first private token sale took place in October 2017.
(Image Credit: Polkadot | Twitter)