Two announcements from Huobi Global on Friday indicate that the cryptocurrency exchange will be an important player in the growth of the Polkadot network.

In a couple of blog posts, the Seychelles Stock Exchange announced a Polkadot sponsorship program, as well as a $ 5 million Tether Stablecoin fund from the Huobi Innovation Lab to support “developers, organizers, content creators and ambassadors” through the Polkadot ecosystem. …

The sponsorship program allows people to recommend Polkadot projects for inclusion in the Polkadot Environmental District, a dedicated part of the asset listing at Huobi. It is reported that sponsors have received invitations to Huobi annual conference as well as other offline events.

Sponsors must have a share in Polkadot’s success in order to apply. The minimum requirements include 300,000 DOT tokens (over $ 1.5 million), half of which must be supported by Huobi as an asset certificate.

Huobi’s investment follows two similar announcements from Polkadot on Thursday. The network has established a finance-oriented decentralized alliance founded by Oracle Provider Chainlink and Plasm Level 2 Network.

In addition, the Web3 Foundation announced the launch of the Thousand Auditors Program, which will provide training, support and funding to increase the number of network auditors for the platform.

Investments in infrastructure and the environment came after Polkadot creator Gavin Wood said on Thursday that Polkadot and Ethereum could coexist. In comments from Polkadot Decoded Summit, the programmer who also co-founded Ethereum rejected the notion that there is only enough space for a Layer 1 protocol.

“If Ethereum turns out to be a chain that can act as a kind of bridge […], I think there’s a very good chance that Polkadot and Ethereum will exist happily,” Wood said.

However, Tier 1 platforms that want to divert developers and projects from Ethereum may make false assumptions about the impact of the network.

In comments today on Twitter, Larry Sukernik, Investment Manager for the digital currency group Grayscale, warned platforms like Polkadot not to take developer migrations for granted:

According to Coingecko, the Polkadot DOT token is currently on the market for $ 4.7 billion, compared to $ 67 billion for Ethereum.

Source: CoinTelegraph