Thread by @DonnieBigBags

@0xtuba 1/ Apps don't run on Polkadot as it's a layer 0 protocol. Same as Kusama.

Kusama right now has 7 blockchains running ontop of it.

One of them is $MOVR (kusama version of Moonbeam).

This is a layer 1 blockchain, fully ETH-compatible smart contract blockchain.

@0xtuba 2/ This of course has brought "smart contracts" to Polkadot/Kusama before ADA even work out how to do theirs.

Now right now, there's multiple dex's running ontop, including anon degen shit (a sign of how easy it is to get dapps up and running)

@0xtuba 3/ Within 13 days of launch there's $10m TVL of shitcoining going on.

But this is nothing, $SUSHI is about to launch on $MOVR (next week I heard) which will put this "parachain" head to head with some of the biggest layer 1 ecosystems in the space.

@0xtuba 4/ It has the usual advantages over $ETH (transactions costs like $0.00003) but since it's built on substrate, it boasts forkless upgrades and on-chain governance, and the build in interoperability of the layer 0 protocol it sits upon.

I'm sure you'll notice a lot of hype soon

@0xtuba 5/ But I think your question was regarding all the shitcoins claiming to be "powered by polkadot". Which are all created by a bunch of VC scammers, who have tarnished the Polkadot/Kusama brands.

@0xtuba 6/ Regardless, Polkadot/Kusama are the only layer 0 meta protocols in this space which have successfully been able to have independent blockchains run ontop of them.

@0xtuba 7/ And right now, yes, there are multiple blockchains live and shit being built on top of them.

Karura has apps.karura.network/swap

Moonriver has 60+ projects building ontop including cream finance/sushi and loads of degen shit.

Much, much more to come