Kusama will enter the second round of auctions: How far is Polkadot’s auction

Kusama will enter the second round of auctions: How far is Polkadot's auction

Polkadot officially released the Kusama network performance report and the first batch of parachain slot auction overview reports, and announced the time for the second round of Kusama parachain slot auctions and the issues that Polkadot needs to solve before launching the parachain! PolkaWorld also estimated the auction time of Polkadot’s Parachain Slots from an objective perspective!

Kusama second auction schedule

The Web3 Foundation has released the performance and stability report of Kusama and the current six parachains in the first two days . On the whole, the block production, approval and finalization of parachains are generally stable , and occasionally there will be temporary pauses in block finalization. But this problem will not affect the next second round of Kusama auctions, because the Kusama network itself is looking forward to chaos! However, these issues are under investigation, and solutions will be proposed after the next 5 Kusama auctions and before Polkadot auctions.

Based on this, Parity released the next batch of parachain auction arrangements:

The 6th Parachain Slot Auction will start at 20:00 pm on September 1st, China time . You can now unlock KSM in advance in the week before September 1st.

The second round of auctions will last for 5 weeks, with a total of 5 auctions

In the same way as the first five auctions, the 6-10 auction starts with the initial bidding period of 2 days and then the end period of 5 days.

After this auction is over, the auction will still be suspended to observe network performance, and then the third round of auctions will be opened.

But the specific time to start the auction still needs a vote from the Kusama Council to decide!

Kusama will enter the second round of auctions: How far is Polkadot's auction

How to participate in the second round of Kusama auctions?

By the end of the post, we saw that ChainX’s pioneering network SherpaX has taken the lead in opening the Crowdloan event on Kusama, and released the auction reward mechanism as soon as possible! For every 1 KSM vote  , you can get   a basic reward of 10 KSX , in addition to quota bonuses , invitation rewards , limited NFTs, etc.! For more details, please check here “SherpaX Parachain Slots Auction Blockbuster Plus!” 》

Kusama will enter the second round of auctions: How far is Polkadot's auction

More teams ready to bid for 6-10 slots will launch Crowdloan activities on polkadot.js.org! PolkaWorld will also summarize all the projects participating in the second auction next week, so that everyone can understand the information in advance!

If you still don’t know how to participate in the second round of auctions through Crowdloan, you can view the video recorded by PolkaWorld during the first auction of Kasama. The operation is the same!

When will Polkadot be auctioned?

Kusama’s goal has always been to become a chaotic proving ground for supporting Polkadot technology. In the spirit of chaos, Polkadot ‘s functions are first launched on Kusama, and then released on Polkadot. Codes and incentives must be satisfactorily verified in the real environment of value-bearing before they can log in to Polkadot!

Because there are many uncertainties in the real environment, even on Kusama, Parity is very cautious every time when it comes to starting parachains, but this experience will pave the way for Polkadot to start parachains quickly and smoothly. The more stress tests on Kusama, the faster and easier Polkadot will launch a parachain.

Parity has built a fully functional minimum viable product (MVP) parachain software, which includes protocols for parachain block packaging, data availability, and security. Currently, two of the four agreements have been reviewed, and the remaining two are still under review. Therefore, Parity suggests that the parachain should be launched on Polkadot after the audit is completed, all the problems found are resolved, and there are no issues related to the parachain consensus on Kusama!

Although the official does not specify the launch time of Parachain on Polkadot, we can make a budget based on Lease time and DOT unlock time! If counting from the creation of Polkadot, it has reached the end of the fifth Lease and will immediately enter the sixth Lease. Each Lease is 3 months long. If the auction starts from the 6th Lease, it means that there is now at most 7 weeks to start the Polkadot auction, because if 5 Leases are auctioned at a time, 3 months of Lease It takes 5 weeks to complete the auction process. We also add the 28 days and 4 weeks of DOT unlocking time, so if the auction starts from the 6th Lease , Polkadot will have up to three weeks (before September 10th) to announce the auction schedule, and 7 weeks later in October Polkadot’s first auction will begin around the 8th !

But if you don’t start the auction from Lease 6, and start the auction from Lease 7 (around November 21st), there are two situations . One situation is that the auction may start at any time before November 20th, depending on when it will be repaired. The question mentioned, the time for this situation is not easy to estimate! There is also a situation where the auction occurs 5 weeks before the end of Lease 7, and the latest is before January 9, 2022.

So to summarize:

If all goes well, the auction will start around October 8th at the earliest;

If the consensus issue is not resolved, it may be postponed to October 8-November 21;

If there are really important and difficult problems, it may be anywhere from November 21st to January 9th (personally think this probability is very small , after all, Kusama has already started the second round of auctions, and the report also shows stability Run, there is no big problem)


Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/kusama-will-enter-the-second-round-of-auctions-how-far-is-polkadots-auction/
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