Polkadot’s ecosystem saw significant expansion in Q3 2023, with the addition of five new parachains, a rise in staking metrics, and major technical upgrades. The total volume of staked DOT increased to 663 million, and the platform recorded more than 190 million on-chain events. The quarter also saw the introduction of native USDC and a 20% quarter-on-quarter rise in XCM messages.
Staking and Metrics
Polkadot reported a quarter-on-quarter increase in the total volume of staked DOT, from 578 million to 663 million. The percentage of the total DOT supply staked is now just shy of 49%, close to the ideal staking rate of 52.5%. Nomination pools, launched in November 2022, ended the quarter with 15,281 members and more than 7 million DOT staked.
New Parachains
Five new teams acquired parachain slots, diversifying Polkadot’s Web3 use cases. The new projects include peaq, Bit.Country, InvArch, Energy Web, and Nodle. These projects focus…
