Pontem Network Digest


Today we present a short digest of the events that we recently had, and at the end, you will find interesting news.

For those who are acquainting themselves with our project for the first time, here is Pontem Network in four points:

  1. What Pontem does is connect Diem by Facebook and the decentralized world, including the emerging crypto markets. The network will help Diem users get access to all the use-cases provided by the unregulated society, such as financial instruments, DeFi and NFT, and even games.
  2. We’re keeping on our road to become one of the Polkadot Parachains and support Move VM and Move Language.
  3. The network is going to help Diem users gain access to all the use cases provided by unregulated society, such as financial instruments, security tools, and even games.
  4. Pontem will be an attractive direction for the product creators, giving them the freedom to create as they originally had intended, in turn resulting in a massive flow of users into the ecosystem, thus pushing the value of Pontem exponentially.

Read more here

Pontem Network Received Two Grants

We are pleased to announce that Pontem Network has been approved for two grants, one from Web3 Foundation and one from Wings Foundation

Now we can proudly say that we have successfully achieved the first milestone and it has been accepted by the Web3 Foundation dev team.

We developed an initial Move VM pallet that any developer can use to try Move VM on Polkadot.

Read more on GitHub here

Pontem Network is building the community

We have opened our official channels on Telegram and Twitter where you can find all the latest news and updates. We will keep sharing the most interesting posts here on Medium as well. But when it comes to brief information, Telegram and Twitter work best.

👉Telegram chat: https://t.me/pontemnetworkchat

👉Twitter: https://twitter.com/PontemNetwork

What’s next?

An essential part of the new website launch is the release of Pontem Blocks prototype design. You can watch the demo on our web page.

Soon you will be able to use different Defi instrument actions in one plaсe — for instance, swap tokens, provide liquidity, and stake LP tokens, all in one transaction. Use presets and even ready-to-use actions made by external developers.

This week we will take a closer look at what it is and what opportunities Pontem Blocks will open for you in the future.

So stay tuned not to miss the most interesting news about us.

👉Telegram chat: https://t.me/pontemnetworkchat

👉Twitter: https://twitter.com/PontemNetwork

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  1. Blockchain fees. Most NFTs are issued on the Ethereum blockchain, where you have to pay for gas. NFT minting involves a complex smart contract and thus requires a lot more gas than simply sending crypto. Plus, the gas has been very expensive in the past few months, so you can expect to pay at least $50–100 in gas fees per NFT collection.
  2. Marketplace fees. While you can issue an NFT on your own, it will be hard to promote it and find buyers. That’s why most creators work with NFT marketplaces like OpenSea and Rarible. And while minting NFTs on OpenSea is technically gasless and free, there is a gas fee to initialize a seller account and accept a bid from a buyer — expect to pay around $150 in total. On Rarible, the costs can exceed $600.
  • Facebook has almost 3 billion monthly active users, giving Diem the largest potential audience of any blockchain project on earth;
  • The stablecoin will probably get integrated into transactions on Facebook, Instagram, Messenger, and Whatsapp (shopping, paying for ads, sending money to friends etc.);
  • Facebook can afford to hire the best developers and marketers, so the execution and promotion will be top-notch;
  • Diem’s programming language, Move, is safe, flexible, and well-suited for writing smart contracts;
  • It should be possible to add third-party dApps to the Diem ecosystem — think of WeChat with its thousands of mini programs, but on blockchain.

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