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BlackRock CEO Larry Fink is facing a fresh headache this week, as an activist investor has publicly sought his resignation in a sharp criticism of his corporate leadership.
Fink, who co-founded the company in 1988, has been asked to leave by senior figures in Bluebell Capital Partners. It’s an organisation with a track record of attacking senior figures for perceived ESG failings.
Broadly, BlackRock is caught in a polarised political dilemma, and this latest development may be a pivotal warning. If your firm gets swept into politics, your governance will come under fire.
What’s going on?
Top leaders in Bluebell have written to Fink and asked for his resignation. Their main gripe is that BlackRock’s ESG record has been inconsistent.
Investing in fossil fuels while touting sustainability commitments is just one example.
Bluebell’s co-chief investment officers Giuseppe Bivona and Marco Taricco told Fink that there was an “apparent hypocrisy” in how it approached ESG criteria, which it said had “alienated clients.”
“The reputational damage of being dragged into this politically charged debate, is very significant because it calls into question the independence of BlackRock as an asset manager,” the letter said.
“We see BlackRock endorsing a number of bad practices from governance, social and environmental perspective, which is not exactly in tune with what they say,” Bivona said in a recent interview with CNBC.
BlackRock has played the dismissal game, effectively saying that Bluebell’s tactics have happened before and will happen again. It did not acknowledge any plans to comply with the request.
The firm noted that Bluebell had “waged a number of campaigns” in the last year and a half and that BlackRock disagreed with their message because “we did not consider them to be in the best economic interests of our clients.”
What does it mean?
BlackRock is the world’s largest investor and makes governance – particularly ESG – a centrepiece of its investment criteria. So, it can’t come as good news that its governance and ESG logic is coming under fire.
What’s more, though, is that BlackRock is under sustained fire from both sides of the ESG debate.
Bluebell is unhappy that its ESG principles are inconsistent, but many fiscal-right politicians, particularly in the United States, have blasted the company for having any ESG principles at all. They maintain that it’s an undeserved attack on the fossil fuel industry and harms stakeholder return.
In effect, BlackRock now finds itself in the middle of a politicised tug of war. No company will ever want its core principles swept up into polarised politics – particularly a debate as volatile as ESG’s place in our corporate future.
What should we take from this?
The bottom line is that BlackRock CEO Larry Fink has earned critics on both sides of ESG. It’s only natural that his corporate strategy and governance will come under fire.
It is challenging but not entirely avoidable, given BlackRock is such a large firm with a vocal policy around ESG.
Is it a sign that any large firm with robust ESG policies faces a governance grilling? No.
But it may be a sign that robust ESG policies will put governance under the microscope, as investors will want to see the method behind major decision-making. From this process, expect criticism.
Lastly, will Bluebell’s campaign succeed?
It doesn’t appear so. Bluebell owns nothing close to a significant stake in BlackRock (estimates currently land at 0.01%), and Bivona refused to give a specific number when pressed in his CNBC interview.
It would suggest more posturing at this point than a drive for results.
That said, don’t rule out their efforts entirely yet. Bluebell was instrumental in the resignation of Danone’s chief executive Emmanuel Faber in 2023, even though it owned a small stake in that company.
Ultimately, it all depends on whether other investors echo Bluebell’s thoughts.
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Apple CEO “outraged” at “offensive” factory claims
Apple CEO Tim Cook has responded angrily to allegations that the company knowingly used manufacturing partners guilty of labor abuses, telling staff that “we care about every worker in our worldwide supply chain” and calling the accusations “offensive.” Cook blasted the NY Times report in an internal email to Apple employees, spilled to 9to5Mac; “Any suggestion that we don’t care is patently false and offensive to us” the CEO wrote. “As you know better than anyone, accusations like these are contrary to our values. It’s not who we are.”
The original report had consulted current and previous Apple executives, as well as sources at Chinese factories and the workers themselves, piecing together a picture of companies like Apple – though others, such as Samsung, got a passing mention – as juggling human rights for workers with the need to create timely, affordable products at the best possible rates. “An unresolved tension” inside Apple was cited, with high-level execs supposedly aware that production partners such as Foxconn were cutting corners in safety and working conditions, but made only passing attempts to address the problem as it would sap Apple’s device momentum.
The claims were followed by strong responses from Chinese factory workers themselves, some protesting Apple’s actions in the country, but others suggesting that the company was not alone in its priorities and, in some cases, was doing considerably better than other firms.
Apple has taken a vocal stance on employee rights in recent years, releasing a responsibility report detailing the investigations it had undertaken, and becoming the first tech firm to join the Fair Labor Association. “We will continue to dig deeper, and we will undoubtedly find more issues” Cook warns. “What we will not do — and never have done — is stand still or turn a blind eye to problems in our supply chain.”
“As a company and as individuals, we are defined by our values. Unfortunately some people are questioning Apple’s values today, and I’d like to address this with you directly. We care about every worker in our worldwide supply chain. Any accident is deeply troubling, and any issue with working conditions is cause for concern. Any suggestion that we don’t care is patently false and offensive to us. As you know better than anyone, accusations like these are contrary to our values. It’s not who we are.
For the many hundreds of you who are based at our suppliers’ manufacturing sites around the world, or spend long stretches working there away from your families, I know you are as outraged by this as I am. For the people who aren’t as close to the supply chain, you have a right to know the facts.
Every year we inspect more factories, raising the bar for our partners and going deeper into the supply chain. As we reported earlier this month, we’ve made a great deal of progress and improved conditions for hundreds of thousands of workers. We know of no one in our industry doing as much as we are, in as many places, touching as many people” Tim Cook, CEO Apple
Artificial Intelligence (AI) has made a massive impact in the modern world. The use of AI at any level has proved to be fantastic. It automated a significant number of tasks, reducing human effort and has led everyone to believe that there is even more to come. Infigon Futures is a company that empowers the lives of individuals who are seeking educational and career goals to help them make decisions for a brighter future. Speaking with Analytics Insight, Omkar Patil, CEO,Kindly brief us about the company, its specialization, and the services that Infigon Futures offers.
Infigon Futures is one of the EdTech segment’s fastest growing education and career planning platforms. Individuals ranging from 11 to 30 in age can plan for their educational and career goals using our industry-leading Artificial Intelligence platform. As the market’s leading one-stop-shop, we guarantee that everyone who visits our platform will find something interesting and will leave satisfied. Disrupting the costly and time-consuming process of career development and ensuring that a lack of guidance or financial constraints does not become a barrier to pure talent and passion.With what mission and objective, the company was set up? Tell us about your journey since the inception of the company?
The mission is to make use of innovative, leading-edge technology and bring career mentorship for everyone at the tip of their fingers to help them make decisions for a brighter future. As the world’s most trusted career-planning company, any individual irrespective of their financial, geographical or lingual bounds can find everything they need to build for themselves a successful future. In April 2023, Infigon Futures launched The Summit Alliance, a youth organization. They are the organization’s President and Vice President, respectively. They gained insight into the education industry and interacted with over 10,000 students and parents, which gave them the motivation and idea to start a business in the field of career and education counselling.Kindly mention some of the major challenges the company has faced till now.
Founded in August 2023, Infigon Futures saw its inception amidst the uncertain times of the pandemic. For any business entity, the starting phase is crucial and is a period of growth and commitment. All our staff had to work remotely from home during the pandemic, which added constraints to our team management. Innumerable meetings, video and audio calls over multiple platforms like Zoom, Google Meets etc. were our only medium to navigate through the crucial stage of strategic growth planning. Another issue that we faced was operations management. Our marketing campaign started from 15th February 2023 and it essentially comprised of collaborations with colleges, schools and other institutes; wherein these collaborations led us to our present target group – students from class 8 & above college students. Unexpectedly, by April 2023, we had associations with more than 60 colleges/institutions, which we had previously estimated at around 15-20. This remarkable growth was unanticipated, so we had to ramp up our operations and brace ourselves for this growth at very short notice.Tell us how your company is contributing to the IoT/AI/Big Data Analytics/Robotics/Self-Driving Vehicles/Cloud Computing industry of the nation and how the company is benefiting the clients. How do you see the company and the industry in the future ahead?
We have already started with career counselling. In the coming years, we would like to improve our tech algorithm to the point where a student can use our mobile application to answer any question they have about his/her career, education, or other topics. In addition, we will be expanding into the areas of international admissions, skill development, and job opportunities. We want to establish a sense of trust in the minds of school students and their parents in the initial couple of years by providing them with the highest quality services. And once we have that, we will be the one-stop-shop for all of their child’s needs.What is your biggest USP that differentiates the company from competitors? What is your Leadership Mantra?
We do not have a leadership mantra at Infigon. Our organization is a start-up and it faced various constraints and uncertainties that come from being one. Our main ideology is not just to impose our targets, strategies and expected results on our employees, but look out for what our employees truly want. Each employee at our organization goes through extensive HR screening, wherein we analyze their personal requirements, expectations and growth objectives of joining Infigon. From our wide spectrum of work profile, each employee is consigned into teams catered to their CV and requirements. Employees are assigned into groups under each department, and projects are divided into manageable tasks. With a lesser workload, each employee can hence exert maximum productivity while gaining quality experience.Please brief us about the products/services/solutions you provide to your customers and how do they get value out of it.
Our career and education mentorship process is completely automated. All of our services, including self-assessment, career selection, educational planning, and expert mentor connections, will be provided through our mobile application, which employs Artificial Intelligence and Data Science. It will be a straightforward four-step process that will begin with self-assessment and progress through career selection, educational planning, and skill development.Which industry verticals are you currently focusing on? And what is your go-to market strategy for the same?
Our focus remains on career guidance and mentorship. Our target consumer base consists of students in schools and colleges. Hence, our priority marketing strategy is to associate with various schools, colleges and private institutions. This gives us extensive access to reach out to students in need of effective guidance and counselling. Our integral goal is to guide young minds into deciphering their academic prospects and dream career.What are your growth plans for the next 12 months?
As a long-time competitor of, and what many believe to be a casualty of, the iPhone, we’ve been keeping a close eye on BlackBerry’s situation over the past several months. The last we heard, the company had agreed to sell itself to Fairfax Financial Holdings for $4.7 billion.
But apparently that’s no longer the plan. In a bit of a surprise move, BlackBerry announced this morning that it has given up on its effort to sell itself to a large investor, and that it will be replacing Thorsten Heins with former Sybase chief John Chen as interim CEO…
The news came in the form of a press release, where BlackBerry announced that rather than bid for it, Fairfax Financial will lead a group of investors that will pour more than $1 billion into the battered Waterloo-based company. The money will come in the form of a debt sale.
From the press release:
“BlackBerry (Nasdaq: BBRY; TSX: BB), a world leader in the mobile communications market, today announced that it has entered into an agreement pursuant to which Fairfax Financial Holdings Limited (“Fairfax”) and other institutional investors (collectively, the “Purchasers”) will invest in BlackBerry through a U.S. $1 billion private placement of convertible debentures. Fairfax has agreed to acquire U.S.$250 million principal amount of the Debentures. The transaction is expected to be completed within the next two weeks.”
BlackBerry says that today’s announcement marks the conclusion of the review of strategic alternatives it announced on August 12, 2013. It’s confident that an immediate cash injection is the best route for the company to take, and says it’s already begun making necessary changes.
Here’s more on the executive shuffle:
“Upon the closing of the transaction, John S. Chen will be appointed Executive Chair of BlackBerry’s Board of Directors and, in that role, will be responsible for the strategic direction, strategic relationships and organizational goals of BlackBerry. Prem Watsa, Chairman and CEO of Fairfax, will be appointed Lead Director and Chair of the Compensation, Nomination and Governance Committee and Thorsten Heins and David Kerr intend to resign from the Board at closing.
In addition, Mr. Heins will step down as Chief Executive Officer at closing and Mr. Chen will serve as Interim Chief Executive Officer pending completion of a search for a new Chief Executive Officer.”
In addition to ceding the CEO post, Heins will step down from the board of directors, as will director David Kerr. Heins was hired as BlackBerry’s chief executive following the exit of its then co-CEOs Mike Lazaridis and Jim Balsillie—well after the company began its downward spiral.
But Heins hasn’t done much, if anything, to slow the bleeding. BlackBerry announced back in September that it would be writing off nearly $1 billion in unsold smartphones and cutting 40% of its workforce. That’s over 4,500 layoffs, one of the largest ever for a Canadian company.
Putting all of that behind us, though, it will be interesting to see what John Chen and the new board members can do. I think it’s admirable that they’re going to try to rebuild (although I’m not sure if they really had a choice or not), instead of taking the easy way out like Palm.
What are your thoughts on all of this? Is there any hope for BlackBerry?
An intelligent search platform is powered by artificial intelligence technology, which removes data silos and assists employees and customers to find the information they need rapidly and easily. End-users make use of intelligent search to extract information from anywhere Intelligent search and enterprise search are synonymous with natural language search, AI search, or AI-powered search and cognitive search. Communicating with Analytics Insight, Alexandre Bilger, the CEO at Sinequa sheds light on the powerful and intelligent search for enterprises that the company offers. He also gives insights into the role of disruptive technologies in the industry.With what mission and objectives was the company set up? In short, tell us about your journey since the inception of the company?
Sinequa was set up with the mission to offer enterprises the services that tech giants such as Google offer to the consumer: powerful and intelligent search. We recognized that enterprises’ valuable information was not being used to its full potential and that an intelligent search tool would enable organizations to tap into the wealth of knowledge and expertise contained within their enterprise data. We knew that insight from existing data sources would drive innovation, efficiency, and productivity for businesses, ultimately helping them to grow and stay agile. As the company has grown and gained momentum, its value has been acknowledged by key analysts in the intelligent search space. Sinequa has been repeatedly recognized as a leader by Gartner and Forrester, including in the Gartner Magic Quadrant for Insight Engines 2023, and in the Forrester Wave™: Cognitive Search 2023 reports. Our client base has grown to include significant players across multiple industries, including Alstom, AstraZeneca, Biogen, BMS, Pfizer, Siemens, Thales, TotalEnergies, and Volkswagen. As the President and CEO of Sinequa for over 10 years, I have seen the company evolve and expand to deal with the increasing volumes of data that organizations now produce. As the quantity of data has grown, so have our technological capabilities and our scope to cater to different use cases. As Sinequa continues to grow, I am excited to see continued progress in the value it can bring to customers.What is your biggest USP that diﬀerentiates the company from competitors?
Sinequa’s platform is comprehensive and customizable, making it suitable for the highest value use cases. It’s built to support professionals across a range of industries, from life sciences and financial services to manufacturing and intelligence agencies. Whether driving faster drug discovery and delivery or underpinning safety and compliance in the energy industry, Sinequa’s unique value lies in its ability to provide insights highly relevant to the professional context. The platform automates the analysis of millions of files and offers a 360-degree view of all data sources, processes, and expertise. With these capabilities, the platform drives informed decision-making and acts as an enabler of vital processes.Please brief us about the products/services/solutions you provide to your customers and how they get value out of it.
Sinequa supports on-premises, cloud, and hybrid deployments and supports hosting on the leading cloud platforms. Sinequa recently partnered with Microsoft to run on Azure and, in July, announced the addition of Sinequa for Microsoft Teams.How does your company’s strategy facilitate the transformation of an enterprise?
Businesses today are increasingly focused on being data-driven to make better decisions, as well as drive efficiency and innovation. However, many organizations continue to focus only on their structured data – accounting for 20% of enterprise data – as a means to gain insight, missing out on the wealth of information and knowledge that can be gained from unstructured data, representing the other 80%. Sinequa’s platform enables companies to tap into both structured and unstructured data to gain insights that ultimately drive business efficiency, innovation, and by extension, growth.How is IoT/Big Data/AI/Robotics evolving today in the industry as a whole? What are the most important trends that you see emerging across the globe?
Today, Artificial Intelligence (AI) is only really in its infancy. While companies are beginning to use AI to examine their quantitative data, qualitative data remains relatively neglected. Tapping into qualitative and unstructured data is a growing and important trend, especially as the quantity of data that companies produce continues to grow. There’s a wealth of information in unstructured data, which includes everything from PDF documents and emails to videos and images. AI solutions can help an employee or customer extract value quicker, without having to read and digest all the data. If such information is effectively harnessed, the value for businesses could be immeasurable.How can businesses efficiently extract the value from data, without increasing cost and complexity?
Extracting value from data can be a costly and lengthy process. The challenge is made harder by the exponential growth in the volume of data being produced by businesses. In this context, a well-thought-out data strategy is essential, and the right tools are needed to underpin such a strategy. The ultimate goal is to obtain a solution that enables the extraction of value from all sources of data, whether structured or unstructured. To best harness the value of data, employees should be able to use one interface to search across all applications and all types of data. With such a tool, searching for information is made simpler and faster, ensuring that knowledge and expertise are not buried and lost.What are your growth plans for the next 12 months?
Sinequa is on a strong growth trajectory and is seeking to accelerate its international expansion. In 2023, the company performed well, despite the circumstances of the pandemic. It increased its total customer billings by 30 percent and signed new logos across the globe, from global pharmaceutical and healthcare manufacturer GlaxoSmithKline (GSK) to the second largest energy and power company in the world, Électricité de France (EDF).
The DeFi ecosystem has seen significant growth in the recent scenario and while exchanges in the crypto-sphere had been centralized, the idea had been challenged with the emergence and subsequent growth of Decentralized Exchanges (DEX). Polkadex aims to combine the benefits of centralized and decentralized exchanges with their technological innovation and provide users with a smooth trading experience.
It is the first project on the Polkadot ecosystem that features an orderbook based exchange. The platform functions through Snowfork with the Ethereum network and Parachain with the Polkadot network.
In conversation with Gautham J, CEO Polkadex we discuss the platform, the vision behind creating the first orderbook based exchange on Polkadot, IDOs, and NFTs on their platform, and much more.
We approach many things differently and bring some innovative solutions to the market and users to eliminate the existing bottlenecks.
To begin with, none of the present decentralized exchanges supports a trading engine that is fast enough to run the traditional orderbook. As a consequence, they also lack sufficient liquidity and can not push DeFi forward.
DEXes have copied the success of Uniswap and moved to the AMM-based model. At Polkadex we think that it is not a real solution but only a halfway compromise.
Uniswap and other swap protocols that don’t use an orderbook dramatically limit their functionality and bring to life certain platform-specific issues. The pool creates an arbitrage opportunity when the price of the asset fluctuates. Moreover, front-running is imminent on the AMM- based DEXes, while the orderbook DEXes eliminate the issue.
Polkadex is an orderbook based exchange, but the key difference is that, unlike traditional orderbook exchanges built on multipurpose blockchains, Polkadex is specifically built as a dedicated blockchain that functions as a trading engine.
Current DEX reality is facing a huge technology gap, and we work to fill it using the mix of technologies available through the capabilities of Bitcoin, Ethereum & Polkadot networks.
2. What was the vision behind creating the Polkadex Order Book?
Blockchains have revolutionized the way we think about trust. The world is going to be increasingly tokenized in the nearest future and Polkadex aims to prepare the world for it.
Bitcoin showed us to transact in a peer-to-peer way without having an intermediary. However, the idea of transferring different types of Blockchain assets in a decentralized manner is still in a rudimentary phase. There were many attempts to solve this problem but none of them managed to take the solution mainstream because of the inherent drawbacks of a blockchain to settle transactions instantaneously and quickly allowing any sort of real-world application.
Past projects have shown us that running an orderbook-based decentralized exchange on-chain is going to be expensive. Hence, there has been a shift towards creating automated market makers (AMMs) to allow transacting in a decentralized manner. This has given rise to protocols like Uniswap and centrally controlled chains like Binance Smart Chain. However, none of them offer solutions to all the user’s needs.
Our goal is to make decentralized peer-to-peer transactions between different blockchain assets possible in an orderbook environment, at the same time making sure that the assets are always in the custody of the participating peers only. We are happy to say that we have been able to achieve that in Polkadex.
3. Why was the Polkadot ecosystem picked from all other blockchains?
The idea of Polkadex started back in 2023 when Vivek Prasannan, Deepansh Singh, and I (co-founders of Polkadex) worked on a consensus algorithm to scale transaction throughput on a distributed network.
We were looking for a scalable use case and tried to apply the technology to a decentralized exchange. Searching for the best ecosystem, we came across the Polkadot network and Substrate framework that allowed building the final version of Polkadex.
Polkadot stood out among other blockchains because it offered us an opportunity to create a highly scalable and fully decentralized platform for a peer-to-peer and trustless token exchange.
From the initial stage of Polkadex’s development, we set high standards as the platform had to answer multiple requirements: provide high-frequency trading, high liquidity, and ultra-fast transaction speed to support DeFi applications, have an easy UX to make DeFi usable for people with any level of technological knowledge.
As you can imagine, finding everything in a single network was a tough task. We went through researching Ethereum, NEO, TomoChain, Cardano, and other solutions, but found the right capabilities only in the Polkadot network.
Transactions on Polkadot are processed in a parallelized way, so the network is considerably faster than rivals. Moreover, Polkadot is interoperable and brings various tokens and blockchains together in a vibrant ecosystem.
We are building Polkadex in Polkadot’s Substrate framework that allows us to add new features, easily develop the platform without hard forks and focus all our attention on optimizing the network to reach unmatched performance.
We also use the Polkadot ecosystem to bring more liquidity to the platform through parachains without compromising on security.
Simply put, we will gather all the best features of centralized and decentralized exchanges in one platform, so the traders accustomed to both will hugely benefit from Polkadex.
5. What is Decentralized KYC and how would it protect the privacy of users?
Decentralized KYC is an innovative mechanism for verifying the users. Unlike the usual KYC process the user data is stored only in the user’s wallet and Polkadex, as a trading platform, never has access to it, hence there is no possibility of data leaks and security is very high in general. There is no sharing of sensitive user’s information to a third-party application.
We see decentralized KYC as a stepping stone to making DeFi a solid competitor to the traditional financial sector in the next few years due to attracting new players and new money with them.
By decentralizing KYC Polkadex can bring in institutional money to the exchange even though it is decentralized. This is possible because the liquidity available in the orderbook is traced back to an identified user allowing regulated entities to interact with and submit trades with Polkadex blockchain without violating their regulatory requirements.
6. DEXes usually shy away from offering fiat support to their users, how does the Polkadex fiat aim to change this?
We are very proud of this particular feature, as it makes Polkadex one of the first decentralized exchanges with fiat support while still keeping custody of assets with the user. We sincerely believe that it is the way to trigger mainstream adoption of decentralized finance.
7. How are retail investors going to benefit from the IDOs launched on the Polkadex platform?
The success of IDOs made them a battlefield where only crypto-native and tech-savvy investors win nowadays. Retail investors are left out because they cannot invest a lot of funds to hold enough of launchpad’s native tokens or simply can not work their way through the manual process of whitelisting and participating in the IDO pool due to tricky UX.
Hence, IDOs are prohibitive to normal users and limit their access to some of the best projects in the crypto space.
Having to stake a large number of tokens to qualify for bidding means that opportunity is only given to a privileged few.
We believe that it is against the ethos of proper decentralization and the vision of open protocols. Polkadex aims to create an IDO platform on Substrate that will give an equal opportunity to participate to all retail traders. Each step of the process will be on the blockchain, thus benefiting from on-chain randomness, fairness, and transparency. We also want to give as much power to users as we can, so governance will also decide if they want the token to be listed on the Polkadex Orderbook exchange after the IDO.
8. What are the Polkadex Fungible Assets and how are they going to be helpful to the developers?
We are creating the product for many types of customers, so as you noticed Fungible assets is one of the features for developers and blockchain teams.
Polkadex Fungible assets have been created for those projects who wish to launch their tokens in a Substrate blockchain easily and inexpensively. The process is similar to creating ERC-20 tokens on the Ethereum network, but the technologies that we use take care of the hassles that we see today in the Ethereum ecosystem.
We aim to offer an efficient way. Fungible tokens created on Polkadex are also backward compatible with Ethereum and can be managed and later represented there using ERC-20 format. We are working on bridges that allow these changes to be implemented.
Another benefit-cost efficiency. Many projects face the challenges of finding affordable platforms. We offer a one-stop-shop solution where blockchain teams can raise funds through conducting IDOs, whitelist, create smart contracts, issue tokens, bridge across networks, and list on our Orderbook if they want and are accepted by governance.
Even though our IDO platform will cater more towards Substrate-based projects, other ecosystem projects will be able to utilize our token minting mechanism to leverage many of the functionalities built in the product.
9. What was the idea behind introducing the Polkadex NFT as a reward mechanism?
Most of our work is focused on making the community happy by giving the answers to the toughest industry questions. Trading is a serious activity, but, hey, why can’t we have fun in the process, too?
NFTs are a great way to reward loyal community members and add a cool gamification element to create more engagement. Keeping the community active and vibrant has a direct effect on the health and well-being of the network in case of an exchange like Polkadex.
Instead of having regular token rewards like the one for validators, we thought of creating something unique and more meaningful for our users. This was the idea behind using NFTs as a reward mechanism.
10. Could you tell us about the use cases of PDEX, the Polkadex token?
As you know tokenomics is a big part of the health and success of any blockchain project. That is why we created ours with the help of the best minds in crypto-economics and paid great attention to the token utility.
As Polkadex is a multi-feature project, PDEX was designed to be used for multiple functions.
Polkadex native token will be used for several activities on the platform. Token holders will have exclusive rights to:
Pay transaction and trading fees to get discounts on them
Participate in Polkadex IDOs
Participate in on-chain governance of the network
Become a validator of the network by staking
Nominate validators and collators of the network
So there are many perks now and we are working on adding others along the way.
11. What are some of the future projects/partnerships on Polkadex that we should look forward to?
We are very busy developing the product and have a good lineup of future projects. The most significant future releases are:
Native interoperability with other chains
Blockchain assets and infrastructure for setting transactions of retail payment service providers
Blockchain consensus upgrade using new algorithms to improve speed and reliability
Margin, lending, derivatives platform
However, we try to stay discreet regarding future partnerships and industry names. We announce all the partnerships when they are secured and in full working mode, but never beforehand as simply bringing the hype is not our way.
So I can say, it really pays off to follow our social media channels closely for any news. There is lots to come.
For more information check out the Polkadex website.
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