Polkadot is making strides in decentralizing its ecosystem with the introduction of PolkaPort East in Hong Kong.

HK, HK, June 5th, 2024, Chainwire

Web3 Foundation, the organization driving the expansion of the Polkadot network, has provided funding to PolkaPort East. This Decentralized Futures (DF) grant aims to further the decentralization of Polkadot while promoting technical advancements, community engagement, and widespread adoption.

PolkaPort East operates independently, focusing on investor relations and development initiatives for Polkadot in Hong Kong and the Greater Bay Area. The DF grant marks the first investment given to an Asia-based organization in this vein.

The funding will bolster PolkaPort East's mission to enhance investor relations and promote growth for Polkadot within the region. Additionally, this initiative will help in showcasing Polkadot's technology and serve as a pivotal source of investment for the ecosystem.

Max Rebol, featuring as a co-founder of PolkaPort East and the CEO of Harbour Industrial Capital—an investment fund dedicated to Polkadot—stated, \"The establishment of PolkaPort East is timely, signifying a key move towards boosting the network's decentralization and fortifying its strategic stance in Hong Kong. Thibault Perréard, another co-founder and strategist at Bifrost, a prominent parachain on Polkadot, mentioned that, \"With the backing of the DF grant, PolkaPort East can leverage the vibrant innovation scenes in Hong Kong and the Greater Bay Area, fostering collaborations with local authorities, global companies, and investors from the region.\"

Vincent Chan, the third co-founder of PolkaPort East and previously involved in growth strategies at Parity Technologies, remarked that, with the DFC grant secured, the initiative aims to draw in participants from across Asia into the Polkadot ecosystem. Targeted participants include development teams, Polkadot-centric VC funds, capital providers, blockchain student organizations from universities, fintech businesses wanting to transition into web3, and local governments interested in blockchain applications.

David Hawig, Director of Ecosystem at the Web3 Foundation, expressed enthusiasm for supporting PolkaPort East through a Decentralized Futures grant. He noted, \"This initiative embodies our dedication to promoting decentralized access and innovation within the Polkadot ecosystem. We believe that PolkaPort East will significantly enhance connectivity and empower the community in Hong Kong, pushing the boundaries toward a genuinely decentralized internet.\"

About Decentralized Futures 

The Decentralized Futures program, initiated by the Web3 Foundation, is structured to bolster independent teams and projects that will ensure Polkadot's continued success. It was launched in 2023 after Parity Technologies restructured to focus on technical development, transferring investor relations, growth, and marketing responsibilities to other entities.

The DF initiative offers funding opportunities for both profit-driven and non-profit organizations focusing on Polkadot, promoting sustainable strategies to access ongoing funding via Polkadot's treasury system. An allocation of over $20 million, alongside 5 million DOT tokens, has been earmarked for the Decentralized Futures initiative to encourage the growth of the Polkadot ecosystem.

About PolkaPort East

Based in Hong Kong, PolkaPort East PolkaPort East aims to catalyze the adoption of Polkadot across Asia, primarily in Hong Kong and the Greater Bay Area. By collaborating with a variety of stakeholders, from developers to investors, PolkaPort East is poised to facilitate the advancement of web3 technologies and onboard fresh users into Polkadot.

Contact

DIrector
Thibault Perréard
Polkaport East