Parity CEO says Polkadot $1B valuation is ‘a fair number’

The Polkadot protocol is targeting at least a $1 billion valuation after its second DOT distribution, its key teams have told The Block.

Parity CEO Jutta Steiner, whose firm is helping build the Polkadot protocol, said that the $1.2 billion valuation on a fully-diluted value reported by the Wall Street Journal Thursday, “is a fair number.” Other sources familiar with the matter also confirmed that the WSJ figures are “broadly correct,” and that the token sale is ongoing with a scheduled close in Q1.

Polkadot is the first project to come from Swiss-based Web3 Foundation (W3F), and if successful, will allow for cross-chain messaging between different blockchains, allowing for interoperability and scalability.

“Top teams in the space are interested in getting exposure to DOTs because they need them to build on Polkadot [once live],” said Jack Platts, W3F Director of Communications. “We're working with strategically aligned projects to ensure they have access to DOTs... It's critically important they have DOTs when the network goes live to ensure we have a vibrant community of parachains.”

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