Kusama parallel chain slot bidding strategy at a glance

Nearly 20 items will be up for bid!

On June 3-4, Kusama Network officially launched Statemine, the first public interest parallel chain. the so-called public interest parallel chain can be understood as the infrastructure of the network, so no bidding slot is needed to deploy to Kusama Network.

Statemine is upgraded from the parallel chain Shell, which is a parallel chain supporting universal assets in the Kusama network. Specifically, with this parallel chain, Kusama will be able to support token minting, freezing, unfreezing, destruction, payment, transfer and possibly NFT in the future.

The launch of Statemine means that Kusama parallel chain slot bidding is not far away. Gavin Wood, the founder of Polka, and the team had revealed that the Kusama slot auction will start after Statemine is running and stable. And the official start date of the first auction will be announced 1 week earlier.

Recently, it has also become clear that the Polka eco-projects are gearing up for slot auctions: several projects have released their crowdsourced lending rules for their respective first networks. Many trading platforms have gone live to facilitate user participation in the pledge voting portal.

In this article, BeepNews has compiled a list of projects that will be participating in the Kusama slot bidding and their crowd-lending rules, including specifically which round each project will start participating in the bidding, how long they intend to lease the slots, what rewards they will offer to voting users, how the rewards and user pledged KSMs will be unlocked, which portals users can use to participate, and more.

As it stands, nearly 20 projects have already indicated that they will participate in the feast. According to the available information, Kusama network will auction 1 slot every 7 days, for each slot, project parties can choose to lease 1-8 slots, each slot corresponds to 6 weeks, which means 6-48 weeks in length. Gavin Wood has revealed that Kusama will go live with 30-40 parallel chains in the first year.

Karura | Acala Advance Network

Token: KAR

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd Lending Reward Rules: For every 1 KSM supported by users, they will receive 12 KARs as a reward for 1 year. There is also 10% additional KAR allocated to users who invite users to participate and invited users.

KSM lock status: 48 weeks

How to unlock the rewards: 30% unlocked immediately, 70% unlocked in 48 weeks

Participation portal: Karura official website, Kraken, OKEx, Huobi, Polkawallet, MathWallet, Fearless Wallet, Polkadot.js, etc.

Project Description: Karura is the DeFi Hub in the Kusama network, providing a range of infrastructure, including pledged derivatives LKSM, stable coin kUSD based on multiple collateral, automated market making platform Karura DEX, etc.

Khala | Phala Advance Network

Token: Khala will not issue its own network token, but will follow Phala’s PHA, this token is called K-PHA on Khala, K-PHA and PHA can be exchanged 1:1

When to start bidding: 2nd slot

Slot lease length: 48 weeks

Crowd lending reward rules: Users will get 100 K-PHA as a reward for every 1 KSM they support. Invite new users to participate, both the inviting party and the invited party can get an additional 0.5% bonus. In addition the prize pool has a cap of 15 million K-PHAs on a first-come, first-served basis.

KSM lock-in status: 48 weeks

How rewards are unlocked: 34% unlocked immediately, 66% over 11 months

Participation portal: Khala Crowd Lending DApp, Kraken, OKEx, Kucoin, Polkadot.js, etc.

Project Description: Khala is a privacy parallel chain in the Kusama network. Its parallel chain Phala in the Polka network will provide CPU privacy arithmetic for parallel chains, DeFi, DApps, etc. on Polka.

Shiden | Plasm First Network

Token: SDN

When to start bidding: 1st slot, after winning the slot you will not participate in subsequent rounds of bidding

Slot lease length: 48 weeks

Crowdlending reward rules: A total of 9.9 million SDN tokens, accounting for 22% of the total tokens, will be awarded to users who participate in crowdlending. Of which 20% is distributed according to certain rules, the earlier you participate the higher the reward. 2% is given as bonus.

KSM lock-in status: 48 weeks

How the reward is unlocked: 1 month locked position, after that it is released linearly in 10 months, during the locked position support Staking to earn revenue

Participation portal: OKEx, Fearless Wallet, Zenlink, MathWallet, Kraken, Polkadot.js, etc.

Project Description: Kusama Relay Chain is not designed to support smart contract functionality, but Kusama is required to run smart contracts, and that’s where Shiden comes in. shiden has supported Ethernet Virtual Machine, WebAssembly and Layer2 solutions from the beginning. The platform supports various applications such as DeFi, NFT, etc.

SherpaX | ChainX First Network

Token: KSX

When to start bidding: 1st slot

Slot lease length: Total lease length may be up to 2 years

Crowd Lending Reward Rules: Users will receive 10 KSX as a reward for every 1 KSM they back. Rewards will also be offered based on the user’s lock-in volume, whether or not they participate in invitation activities, etc.

KSM lock-in status: 48 weeks

How to unlock the rewards: One-time release

Participation portal: OKEx, Firecoin Mining Pool, Zenlink, Polkadot.js, etc.

Project description: SherpaX’s parallel chain ChainX on Polkadot is dedicated to Bitcoin Layer2 expansion, digital asset gateway, and Polkadot Layer2 relay chain to enable cross-chain asset trading and lead the new direction of Bitcoin cross-chain DeFi.

SherpaX’s main experimental direction after becoming a Kusama parallel chain is to cross-chain XBTC from ChainX to SherpaX, with XBTC on SherpaX issuing other synthetic assets via mirror simulation. On-line bitcoin futures, options and other derivatives, forming the largest Layer2 financial derivative platform for bitcoin.

Bifrost

Token: BNC

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd Lending Reward Rules: Users will receive a minimum of 10 BNC as a reward for every 1 vsKSM minted. Rewards include BNCs earned when casting a KSM as a vsKSM, BNCs earned from participating in an invitation campaign, and BNCs earned from a successful bid. users will also receive KSM liquidity.

KSM lock-in situation: After a successful slot bid, vsKSM and vsBond (proof of successful bid equity) can be circulated, and vsKSM + vsBond can be exchanged 1:1 for KSM at the end of the lease period

How to unlock the rewards: 50% of the rewards earned from successful bidding are unlocked immediately, 50% are unlocked linearly over 48 weeks

Participation entrance: Bifrost official website, etc.

Project Description: Bifrost is a parallel chain on Boka and Kusama that provides liquidity for Staking. Users can exchange PoS coins into vToken through Bifrost transfer bridge at any time, and get Staking revenue and liquidity through vToken.

Darwinia Crab | Darwinia Advance Network

Token: CRING

When to start bidding: 4th slot

Slot lease length: 48 weeks

Crowdlending Reward Rules: For every KSM backed, users can receive a base reward of 25 CRING per day for the duration of their participation in the crowdlending at the end of the auction (regardless of whether the round is successful or not). If the bid is successful, there are also opportunities to receive achievement awards, NFT awards, and 1BTC awards based on pledged volume, etc.

KSM lock-in status: 48 weeks

How to unlock the rewards: No lock-in period for base rewards, 30% of achievement prizes are unlocked immediately, 70% are unlocked in 48 weeks

Participation portal: Polkadot.js, etc.

Project Description: Darwinia Crab is a parallel chain in the Kusama ecosystem that supports cross-chain, smart contract and NFT. crab provides smart contract solution, so it can support DApps such as DeFi and NFT. crab provides cross-chain interoperability, so it can provide an entrance to Kusama for public chain projects such as Ether and BSC. The more significant feature of Crab should be the integration of NFT, Blind Box, GameFi, mining and other plays.

Zenlink SlotVault

Token: ZLK

Crowd-lending reward rules: Zenlink itself does not participate in parallel chain slot auctions, but it provides a machine-gun-like pool platform called SlotVault for users to participate in various parallel chain crowd-lending activities, which allows a clearer view of the returns of each crowd-lending scheme in different periods. All users participating in crowlending through SlotVault can receive ZLK as an additional reward, with the total reward amount expected to be 500,000-1,000,000 ZLK.

KSM lock-in: Depends on each parallel chain KSM lock-in

How the rewards are unlocked: TBA, there may be a small number of rewards with a short lockout period

Participation portal: SlotVault

Project Description: Zenlink is a cross-chain decentralized trading network in the Polka ecosystem, dedicated to building a new generation of cross-chain DEX. by integrating the appropriate modules, Zenlink allows parallel chains to have DEX capabilities and share liquidity with other parallel chains. zenlink’s DEX aggregator links all DEX on Polka, allowing users to perform fast, low-slippage asset exchanges .

Moonriver | Moonbeam First Network

Token: MOVR

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd-lending reward rules: A total of 3 million MOVRs, accounting for 30% of the total, will be given out to reward users who participate in crowd-lending. Rewards are distributed according to the percentage of pledged volume.

KSM lock-in situation: 48 weeks

How to unlock the rewards: 30% unlocked immediately, 70% unlocked in 48 weeks

Participation portal: Moonriver crowd lending DApp, Polkadot.js, etc.

Project Description: Moonriver’s parallel chain Moonbeam on Polkadot is a parallel chain compatible with Ether smart contracts and dedicated to building a multi-chain future.

Crust Shadow | Crust Advance Network

Token: CSM

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd lending reward rules: Crowd lending activity period reward is, users will get 0.07 CRU and 14 CSM for every 1 KSM supported, the reward limit is 15,000 CRU and 3 million CSM, first come first served. The slot lease period rewards are, if the raised KSM is less than 50,000, users will get 1.5 CRU and 300 CSM for each KSM supported. if the raised KSM is more than 50,000, the rewards will be distributed according to the pledge percentage.

KSM lock-in situation: 48 weeks

How to unlock the rewards: Crowd lending campaign period rewards are distributed weekly on a first-come, first-served basis; slot leasing period rewards, 30% unlocked immediately, 70% unlocked 10% every 6 weeks

Participation portal: Polkadot.js, etc.

Project Description: Crust Shadow’s parallel chain on Polkadot Crust provides a decentralized storage network in the Web3 ecosystem, supporting multiple storage layer protocols including IPFS and providing interfaces to the application layer. crust’s technology stack is also capable of supporting a decentralized compute layer. crust aims to build a distributed cloud that values data privacy and ownership Crust aims to build a distributed cloud ecosystem that values data privacy and ownership.

Sakura | Clover First Network

Token: SKU

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd Lending Reward Rules: Users will receive 200 SKUs for every 1 KSM they support. users who invite new users and early pledge users will receive additional rewards.

KSM lock status: 48 weeks

How to unlock the rewards: 28% unlocked immediately, 72% unlocked in 48 weeks

Participation portal: Clover official website, Polkadot.js, etc.

Project Description: Sakura’s parallel chain Clover on Polkadot is dedicated to providing easy-to-use blockchain infrastructure and creating a one-stop integrated infrastructure platform to lower the threshold and cost for developers and provide rewards for developers.

Genshiro | Equilibrium Advance Network

Token: GENS

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd-lending reward rules: A total of 240 million GENS, or 20% of the total, will be given out to reward users who participate in crowd-lending. Whitelisted users can get an additional 1% bonus for every 1 new user they invite.

KSM lock-in situation: 48 weeks

How rewards are unlocked: 1 distribution every 6 hours

Participation portal: Polkadot.js and others

Project Description: Genshiro is the DeFi Hub in the Kusama network. users will experience more crypto assets on Genshiro, able to trade ETFs, stocks, gold, commodities and other derivatives contracts such as AMM.

Altair | Centrifuge Advance Network

Token: AIR

When to start bidding: 1st slot

Slot lease length: 48 weeks

Crowd Lending Reward Rules: Users will receive at least 50 AIR for every 1 KSM supported.

KSM lock status: 48 weeks

How to unlock the reward: 25% unlocked immediately, 75% unlocked in 48 weeks

Participation portal: Polkadot.js, etc.

Project Description: Altair and Centrifuge both focus on real-world DeFi. through Altair, users can tokenize their assets on Kusama and use them as collateral to obtain financing.

KILT Protocol

Token: KILT

When to start bidding: 1st slot

Slot lease length: N/A

Crowd Lending Status: May be through crowd lending or may use the project’s own funds to participate in slot bidding, ultimately choosing the method that is more conducive to the long-term stability and long-term development of the project.

Project Description: KILT Protocol is used to issue verifiable, revocable, anonymous credentials based on statements that provide user data sovereignty and interoperability for DApps. KILT has the potential to build new business models around trust.

Kpron Network | Apron Network Advance Network

Token: KPN, KPN is a part of the token APN assigned by Apron Network in the form of APN on Kusama, KPN can be exchanged 1:1 for APN

When to start bidding: 3rd slot

Slot lease length: 6 weeks as a test first, subsequent lease lengths will be based on testing

Crowd lending reward rules: Users who pledge the first 100,000 KSMs will receive at least 10 KPNs for every KSM they support.

KSM locking situation: locking is required during slot leasing

How to unlock the reward: 35% unlocked immediately, 35% unlocked in the 2nd month, 30% unlocked in the 3rd month

Participation portal: Polkadot.js, etc.

Project Description: Kpron’s parallel chain Apron on Polkadot is a decentralized infrastructure service platform. Apron connects infrastructure service providers and DApp developers, allowing developers to develop efficiently and quickly generate API service interfaces, etc.

Hedgeware | Edgeware Advance Network

Token: HEDG

When to start bidding: TBA

Slot lease length: TBA

Crowd lending reward rules: A total of 20% of HEDG is taken out to reward users who participate in crowd lending.

KSM lock status: TBA

How the reward is unlocked: TBA

Participation portal: TBA

Project Description: Hedgeware’s parallel chain Edgeware on Polka is a smart contract chain with a community managed treasury, decentralized protocol system and DAO network.

Robonomics

Token: XRT

When to start bidding: Expected bidding for slots 3-6

Slot lease length: 48 weeks, total lease length 2 years

Crowd Lending Reward Rules: Users will receive 1 XRT for every 1 KSM backed. users are expected to receive 125% of the pledged revenue within 48 weeks.

KSM lock-in status: 48 weeks

How rewards are unlocked: 25% are unlocked immediately, 75% are distributed after Robonomics parallel chain goes live, which is expected to be 2-4 weeks later

Participation portal: Polkadot.js, etc.

Project Description: Robonomics is a secure, cost-effective and futuristic IoT platform that connects bots in the Ethernet and Polkadot networks to bring about a bot economy.

Ares Protocol

Token: ARES

Slot Leasing and Crowd Lending Status: TBA

Project Description: Ares Protocol is a Substrate-based prophecy machine project that aims to provide secure and reliable off-chain data for smart contracts, parallel chains, etc. in the PoC ecosystem through a decentralized approach.

Basilisk | HydraDX Advance Network

Token: BSX

Crowdlending reward rules: A total of 10 billion BSX, accounting for 10% of the total, will be taken out to reward users who participate in crowdlending.

Other bidding and crowd-lending information: TBA

Project Description: Basilisk is an LBP platform on Kusama. Basilisk allows users to choose from different price discovery AMM models, including XYK type supported in the first version, and auctions and joint curve models that will be supported in the future. In the future, it will also support stable coins, synthetic asset AMM, cross-AMM order matching, NFT market, etc.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/kusama-parallel-chain-slot-bidding-strategy-at-a-glance/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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