Chanalysis has submitted a Polkadot board proposal April 18 that could lead to a $10 million partnership.
Chainalysis’ services include monitoring and tracking of DOT token activities on the Relay Chain, ensuring visibility of potentially risky actions on the chain to regulators and institutional entities. This approach is aimed at maintaining a good reputation with regulators and promoting a risk-conscious environment.
Additionally, Chainalysis will offer on-chain intelligence solutions to meet institutional requirements related to the listing of the DOT token, covering aspects such as investigations, compliance and growth use cases.
The partnership would also include plans to participate in joint events, announcements and case studies to further collaboration and highlight Chainalysis’ role in supporting Polkadot’s compliance framework.
The partnership would additionally provide on-chain intelligence to authorized institutional customers to support DOT token listings. The two companies would also collaborate in several areas to promote the compliance partnership.
Little early support
Chainalysis’ proposal calls for 1,000,000 Polkadot DOT tokens or the equivalent in US dollars (currently $6.82 million) for a three-year deal. Chainalysis proposed the plan and will be the beneficiary if the plan is successful.
So far, the proposal has received little support from members of the Pokadot community. A Polkadot ambassador with the handle Georgi_PS initially financed the proposal with a down payment of 400 DOT. Since then, 11 voters have used 36,350 DOT to vote against the plan.
If the proposal is successful, it could bring special benefits. The proposal states that the Polkadot community wants to use Chainalysis software to improve market capitalization, market share, adoption and popularity among institutions. It would also avoid fines and reputational damage due to regulatory issues.
Voting is expected to end on May 16.
The post Chainalysis Proposes $10M Polkadot Partnership to Provide Analytics Solutions appeared first on CryptoSlate.