Polkadot’s “Double Eleven” slot auction feast is coming soon. How is the progress of Kusama’s first batch of mid-spot projects?

The much-anticipated Polkadot Parachain Slot auction is finally about to begin. With the passage of Proposal 39, Polkadot will open its first auction feast on November 11. Judging from the two rounds of parallel chain auctions on Polkadot ‘s pioneer network Kusama , the competition for Polkadot slots will become more intense.

October 13, along with Interlay leading network of nearly 200,000 Kintsugi to lock KSM won seats in the second round of the last auction, Kusama slot auction drama ended. The specific opening time of the next round of auctions will be determined by the board of directors after observing the performance of the network. Since then, Kusama has launched 12 parachains. In addition to Statemine, which has obtained free slots through governance, Karura (Acala Advanced Network), Moonriver (Moonbeam Advanced Network), Shiden (Plasm Advanced Network), Khala Network (Phala Network Advanced Network) ), Bifrost, KILT Spiritnet, Calamari (Manta advanced network), Basilisk (HydraDX advanced network), Altair (Centrifuge advanced network), Heiko (Parallel advanced network) and Kintsugi (Interlay advanced network) have all won slots through auctions.

For the Polkadot ecological project, after successfully bidding for slots, not only can it share technical advantages such as security, cross-chain interoperability, and on-chain governance, but it can also realize business sharing and interaction while developing its own business lines. So, in the past two rounds of great auction events in Kusama, what kind of transcripts have these ecological projects that have successfully captured scarce resources handed in so far? Since the second batch of parachains will take a short time to go online, this article will take the first batch of projects that have obtained slots as the observation object. On the whole, the core functions of the first batch of Kusama parachains have been gradually launched in the three months since they obtained slots.

Karura

Karura is the first project to take the Kusama parachain slot, and it is also the pioneer network of DeFi infrastructure Acala in the Kusama ecology. It can provide pledged derivatives LKSM, stable currency kUSD based on multiple collaterals, and automatic market-making platform Karura DEX And a series of infrastructure. Karura has locked a total of 501,137 KSMs in the slot auction, with a lease term from September 3, 2021 to May 19, 2022.

In the few months since the official launch of Kusama, in terms of technology development, Karura improved and enabled the XCM cross-chain messaging module, refactored and improved the NFT module, implemented a simplified version of the liquidity release protocol, upgraded Karura runtime, and fixed the interest rate issue of the stablecoin protocol. And upgrade Karura runtime, start Liquid Staking Lite protocol, support multi-currency incentive plan, etc. According to statistics from Polkaproject.com, in the past 30 days, Acala’s development activity ranked 20th in the Polkadot ecology; in terms of products, Karura launched the first DEX Karura Swap of the Kusama ecology and added KSM as the first kUSD collateral. , And launching the Kusama network’s first decentralized cross-chain stable currency kUSD, and becoming the payment method of the official Grant of the Web3 Foundation; in cooperation, Karura completed the first XCM cross-chain “universal messaging” transfer, listing Bifrost native assets, Cooperate with the world’s top blockchain infrastructure provider Blockdaemon, open HRMP cross-chain communication between Bifrost and Karura parachain, and support PHA/kUSD trading pairs and mining rewards.

Regarding the development of Karura’s ecology, one can glimpse one or two from the overall data performance of its network. As of October 18, the total value of Karura’s entire network lock-up (TVL) has exceeded 300 million US dollars. Among them, the total locked-up value of DeFi exceeds 120 million U.S. dollars; the total locked-up value of DEX has exceeded 44.28 million U.S. dollars when only supporting 3 native assets; the total locked-up value of stablecoins has reached 44.9 million U.S. dollars. At the same time, the total number of Karura accounts is nearly 73,000, and the issuance of kUSD exceeds 12.51 million. In addition, there are approximately 150,000 KSM cross-chains to the Karura network, valued at more than 53.48 million U.S. dollars.

Polkadot's "Double Eleven" slot auction feast is coming soon. How is the progress of Kusama's first batch of mid-spot projects?

Moonriver

Moonriver is Moonbeam peer network, is committed to building on Kusama compatible Ethernet Square intelligence platform contracts, to help developers build better applications faster Substrate-based framework has interoperability capabilities. Moonriver has locked a total of 205,935 KSMs in the slot auction, with a lease term from September 4, 2021 to May 20, 2022.

In the past 30 days, Polkaproject.com statistics show that Moonriver’s development activity ranks 18th in the Polka ecosystem. In terms of technology and products, Moonriver completed all stages of deployment, realized Polkadot EVM full compatibility and transfer functions, released 5 clients successively, and carried out 4 operational updates after launching, opened a liquidity acceleration plan, and transferred tokens 10% of the initial supply of MOVR (1 million pieces) is used to support ecological development and promote network activities; ecologically, Moonbeam has cooperated with dTrade, myNFT, Figment, Bware Labs, AnySwap, Lido, MyWish and DappLooker in the past 3 months. More than 20 projects have reached cooperation, covering many fields such as NFT, DEX, DAO, and cross-chain bridge.

As of October 18, Moonriver has more than 135,000 wallet addresses, a total of more than 3.07 million on-chain transactions, and about 1,800 ERC-20 format assets have been created on the chain. At the same time, data from DeFi Llama shows that Moonriver’s total lock-up value exceeds US$98 million, ranking 32nd. In addition, the activity and scale of collectors and nominators is one of the important indicators for judging whether a parachain is active. Currently, Moonriver has increased the number of active collector nodes to 48, and there are 9 nodes in the waiting state, and they are in the effective set. All of the collector nodes have 100 nominators.

Polkadot's "Double Eleven" slot auction feast is coming soon. How is the progress of Kusama's first batch of mid-spot projects?

Moonriver daily trading volume change source: Blockscout

Shiden

Shiden is a multi-chain decentralized application layer on the Kusama network, and is the pioneer network of Astar. Whether it is in terms of function or network scalability, because Kusama needs a smart contract layer, Shiden can provide smart contracts for the Kusama network. At present, Shiden not only supports solutions such as the Ethereum virtual machine, WebAssembly and Layer2, but also supports DApps such as DeFi, NFT, and games. Shiden has locked a total of 138457 KSMs in the slot auction, and the lease period is from September 5, 2021 to May 21, 2022.

In the past few months, Shiden has gradually introduced core functions. In terms of technology and products, Shiden upgraded the runtime version, cooperated with Kylin Network to build the XCMP cross-chain calling function, launched the testnet Shibuya, upgraded the main network from PoA to PoS, and launched the token transfer function. In the future, Shiden plans to switch to NPoS and support Ethereum bridging, and will soon implement smart contract functions so that developers can deploy Ethereum smart contracts (EVM) and WASM smart contracts on the Shiden network, as well as DApp staking functions soon, developers To earn tokens while creating smart contracts or infrastructure. It is worth mentioning that Astar launched a $30 million Shiden Ecosystem Growth Fund. In terms of ecology, Shiden has cooperated with PolkaEx, Covalent, Doublejump.Tokyo, etc.

Khala Network

Khala Network is the pioneer network of Phala Network. As a bridge connecting computing power and users, it is committed to building an open and transparent cloud computing network, providing privacy protection for regulated programs, and maintaining the security and decentralization properties of the blockchain. Khala Network has locked a total of 132,280 KSMs in the slot auction, with a lease term from September 5, 2021 to May 21, 2022.

According to the online plan of Khala Network, it will experience four periods: Triassic, Jurassic, Cretaceous and Holocene. At present, the Khala Network has entered the Holocene period, and has completed the election in the past period, including the initiation of the election of council members and the removal of Sudo, the activation of Secure Worker Mining and the token mortgage function, the launch of the Ethereum-Khala PHA one-way bridge, and the opening of transfers And many other functions and products. Next, Khala Network will plan to enable the Khala-Ethereum bridge through Fast track, realize the two-way intercommunication between ERC20 PHA and K-PHA, and launch XCMP in the PhaSe wallet to achieve cross-chain functions.

As of October 18, the number of online workers of Khala SWM was 15,052, and the total lock-up value of StakePool’s entire network exceeded 67.95 million PHA.

Bifrost

Bifrost (Rainbow Bridge) is the basic protocol of Polkadot’s ecological DeFi. It is committed to becoming an infrastructure for pledged assets to provide liquidity. It has launched a derivative vToken for staking and Polkadot’s parallel chain card slot. Bifrost has locked a total of 136,817 KSMs in the slot auction, with a lease term from September 5, 2021 to May 21, 2022.

Polkaproject.com statistics show that in the past 30 days, Bifrost’s development activity ranked fourth in the Polka ecosystem. In the technical progress after the launch of Kusama, Bifrost has successively enabled vsKSM and vsBond mining, and opened the governance module. At the same time, it supports KSM as a fee payment method, removes Sudo (super administrator privileges), and supports two-way asset crossover between Kusama and Bifrost. Chain, open SALP Farming module, realize slot auction contribution through XCM ump transact decentralization, launch Swap module and open kUSD Transfer function, etc. It is worth mentioning that parachain auction projects including Calamari, Basilisk, Altair, Kintsugi and Parallel Heiko have all registered SALP (Slot Auction Liquidity Agreement). Ecologically, Bifrost and Acala dock the xToken cross-chain process, and because Zenlink deploys DEX modules on its own network, it has DEX capabilities, which can provide trading capabilities for derivatives such as vToken, vsToke, and BNC, and realize cross-chain with Statemine Transfer etc.

As of October 18, Subscan.io data shows that Bifrost has more than 55,000 holding accounts and more than 94,000 transfers.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/polkadots-double-eleven-slot-auction-feast-is-coming-soon-how-is-the-progress-of-kusamas-first-batch-of-mid-spot-projects/
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