by Mc0xCrypto
https://www.parastate.io/assets/wp.pdf
Please take your time to read our improved white paper. In order to bring our core tech ssvm-pallet (a next-gen eWASM infrastructure) for massive adoption, we tweaked the paper to include our new go-to-market strategies. I’d like to outline it in short as below for efficient reading.
Two major approaches
1, A first-party substrate blockchain
ParaState will be developed as a stand-alone substrate blockchain to interact with Polkadot through parathreads initially. Why? This decision being made mainly in the view of how we could launch a Layer1 project in a manner both securely and economically. Parathread has no technical difference with parachain, the only difference is the cost to interact with Polkadot relay chain. When a brand new project launches, its native token won’t reach a reasonable market price at the very beginning. A project allocated too much token for parachain auction will cause a huge price pressure for its native token no doubt. But if a project allocated small percentage token rewards for parachain auction, it will be failed to attract Dot holders’ support as Dot holders will simply compare the APY of Dot staking rewards and the offer from parachain auction. To solve this dilemma, ParaState will launch as a stand-alone blockchain to interact with Polkadot via parathread first, and focus on bringing applications matrix onboard at genesis. ParaState will be both evm & eWasm featured, with built-in DeFi infra like lending protocols, DEX, and data feed oracles. In order to activate liquidity onchain once mainnet is live. Today, the daily txns on Polkadot mainnet are around 5k, and total daily gas cost is less than 100 Dot. It seems to be an economical way to interact with Polkadot via parathread on pay-as-you-go basis. When the ParaState native token, STATE, achieves a stable and reasonable market price, we could step into parachain auction.
2, A third-party adoption of the ssvm-pallet
During these days, our tech team are endeavored to fulfill our Web3 grant which is porting the ssvm eWASM pallet into Substrate ecosystem. We are pleased to hit this milestone soon and about to deliver the grant this week or next. Once it’s done, it will be the first ever production ready eWASM pallet for the whole Substrate ecosystem. According to Web3 official data, there are more than 100 projects under development to build its own substrate blockchain. All these projects are welcomed to become our partners to integrate with ssvm-pallet into their blochchain system as the core runtime pallet. For such collaboration, we will implement pay-as-you-used(PAYU) business model. Which means there is no upfront deployment fee for the party who wants to integrate with ssvm-pallet into its substrate blochchain. We will only charge a small % gas cost for each smart contract txn via ssvm-pallet as license fee. This license fee is collected based on the native cryptocurrency of the participating substrate blockchain. In exchange, our partners can gain high performance runtime infra/developer tools/developer community from ParaState. Our infra are LLVM standard can not only support Ethereum native languages like Solidity/Fe, but also support more than 20 programming languages like Rust/C/C++/Java/DSL(ie.Move) ect. Through a unified developer community, we can bridge ecosystem between Ethereum and Polkadot, and boost the whole cross-chain software portability.
Come and build with us!
