Polkadot, which marked the past crypto bull market, was among those affected by the recent declines. The popular project is among the major coins with a market cap of $6 billion. Many powerful platforms have emerged in DOT, which has created a remarkable ecosystem in the crypto industry. Acala and Astar became prominent platforms of the ecosystem. But the bear market has slowed the progress of ecosystems as well. In the midst of all these processes, projects in the Polkadot ecosystem joined forces and 7 founding partners started the Polkadot Alliance.
Acala, Astar, Interlay, KILT Protocol, Moonbeam, Subscan and Phala, which are important names of the Polkadot ecosystem, joined forces. 7 popular projects created a new community as co-founders. The alliance announced by Acala is an on-chain collective that sets and supports a set of ethical rules that the community must abide by. The alliance emerged to ensure standards of excellence in the rapidly growing DOT ecosystem. This union, which was established, was first mentioned in August 2022. While planning and organizing processes were working at that time, it was officially established today.
The association will continue to exist in chains and publish findings that harm the ecosystem. However, the union will not have any governance authority over the ecosystem. Jurisdiction will not be included in other parts of Polkadot. The union, which also made a statement on membership, discussed it in two categories as members and allies. Members will have voting rights and will be able to run operations. Allies will support the union and will not vote.