Polkadot remained committed to the development and expansion of its network in Q2, exhibiting consistency in key network fundamentals such as staking, treasury usage, and parachain activity. Noteworthy milestones achieved during this period include the launch of OpenGov, introducing an advanced governance model, and the introduction of XCM V3 on Polkadot’s mainnet.

Additionally, the ongoing re-signing of slot auction leases by parachains has resulted in an upsurge in DOT bonds. In terms of market capitalization, Polkadot experienced a 16% decrease QoQ, but still remains the 12th largest crypto project by market cap.