Background Introduction
Polkadot, a leader in the web3 domain, boasts industry-leading technology and an excellent developmental framework, providing a solid technical foundation and security for many innovative projects. We also firmly believe that appchains will be the ultimate form of the web3 world. However, at present, due to the relatively high entry threshold of the Polkadot parachain and the relatively low influence of the EVM parachains, many users with lightweight application needs are turning to other well-known EVM platforms. This has also resulted in a certain loss of users within the ecosystem.
Although the arrival of On-demand parathreads will alleviate this situation, we are still in a transition phase from smart contract dApps to appchains. Therefore, there remains a significant demand for smart contract platforms. However, DOT, as the most vital asset of Polkadot, currently cannot directly fulfill this demand scenario.
Project Overview
In order to complete the use cases for DOT and enable a comprehensive user base from enterprise-level users to lightweight users, Magnet will be a smart contract platform based on the PAYG model, with DOT as the gas fee. The platform's key features are summarized as follows:
Forum Discussion on this Proposal:Polkadot Forum
Blog Post about this Proposal: medium
Full Proposal: Google Doc
Threshold
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