The Kusama slot auction horn rings again How far is the Polkadot auction?

Boca parallel chains Kusama second wave of slot auctions predictable, some people having all the fun, most people still look ignorant force, What Kusama that? What is a slot auction? What is the relationship between Kusama and Polkadot ? The complicated operation logic and unknown English words shut out most people in the currency circle. Today I will use a short 1500 words to make this complicated business model clear and clear to everyone.

What is Kusama?

When it comes to Kusama, the first thing that comes to mind is generally the Japanese painting artist Yayoi Kusama, her English name is Yayoi Kusama. Yayoi Kusama is good at creating with Polkadots and is known as the “Queen of Polkadots.”

The Kusama slot auction horn rings again How far is the Polkadot auction?

The Kusama we are introducing today is not the artist, but the experimental test network before the Polkadot mainnet. I guess that Polkadot named its test network as Kusama, perhaps because of this artist. pay tribute.

As Polkadot’s parachain test network, Kusama is also known as the “Golden Sparrow Network”. Canaries are often used in coal mines to detect carbon monoxide and other toxic gases that may harm miners and alert them. Similarly, Polkadot expects Kusama, like Canary, to help detect all vulnerabilities in the Polkadot code base and issue warnings.

The Kusama slot auction horn rings again How far is the Polkadot auction?

Kusama is the wild brother of Polkadot

In general, Kusama and Polkadot are two independent and unique blockchain networks. They are built with similar code bases. However, Kusama’s network governance changes more frequently, and the threshold for building applications on Kusama is also higher. Low.

Therefore, the Kusama network will be wilder, and version changes will be faster. Polkadot will be a relatively conservative network that pays more attention to stability and reliability. The frequency of Polkadot’s governance mechanism will be relatively slower and the version upgrade mechanism will be more Organized.

Kusama is a network environment that is more suitable for experimentation and early deployment. Polkadot is a network that provides an environment for applications with higher overall market value to avoid risks.

In addition, as a test site, all new functions deployed by Polkadot need to be tested on Kusama first, and then deployed on Polkadot.

It is worth noting that the difference between Kusama and other Polkadot test networks is that after the Polkadot mainnet goes online, the Kusama network will not disappear, but will exist for a long time.

The Kusama slot auction horn rings again How far is the Polkadot auction?

What is a slot auction?

When talking about slot auctions, we should start with Polkadot’s network characteristics.

We know that Polkadot is essentially a scalable heterogeneous multi-chain blockchain consisting of a collaborative decentralized blockchain network, which can also be called a relay chain.

The relay chain is interconnected with the parallel running parallel chain, which requires a parallel chain slot. Only by obtaining a slot can it become a “polkadot parachain” in the true sense.

However, the parachain that a relay chain can carry is limited, and the parachain slot naturally becomes a scarce resource (based on theoretical calculations, the current goal and expectation is that there will be about 100 parachain slots available on Kusama ), so many projects want to connect to Polkadot. Naturally, there are too many porridges, but how can we allocate the slots fairly?

The most suitable solution for this situation is to auction. So Polkadot officially designed the parachain slot auction mechanism.

How does slot auction affect KSM ?

Participating in the Kusama slot auction, if the participant’s investment project is successfully auctioned, while gaining revenue, the invested Kusama token KSM will also be locked for more than 300 days.

After the last five rounds of auctions, KSM was finally locked in more than 1,478,800, accounting for nearly 15% of the total, so we seem to have great expectations for the second wave.

If the second wave of auctions can also form a lot of lock-up volume, then the circulation of the KSM market will be reduced by about 15%. Slot auctions can be said to be an important part of Kusama’s ecological entry into the “flywheel effect”.

The Kusama slot auction horn rings again How far is the Polkadot auction?

The Kusama slot auction horn rings again How far is the Polkadot auction?

According to the Ou Yi OKEx market, KSM recently hit a maximum of 420 US dollars, with an increase of 97% in the past 30 days.

For investors who are not convenient to participate in the slot auction, buying and holding KSM is also a good choice. At present, Ouyi OKEx has launched KSM’s currency, contract, and currency earning business. Ordinary users can obtain income by buying, holding or staking KSM.

The projects participating in the Kusama auction are also worthy of attention.

In the first wave of auctions, as the Kusama one-stop DeFi center, the bidding project Karura was very popular in the auction and the community’s voice was very high. Ouyi OKEx first issued the Karura token KAR, and recommended high-quality projects to investors as soon as possible. Circle players provide a safe and convenient KAR trading channel. At present, the unit price of the project’s token KAR has risen from the initial price of 1.001 US dollars to 7.413 US dollars.

Some of the rookie projects participating in the second wave of Kusama slot auctions are (you can search for detailed information about the background of each project): Heiko Finance (Parallel Finance), Altair (Centrifuge), Basilisk (HydraDX), Calamari (Manta), you can follow the project The basic situation, team situation, financing situation, and bidding strategy are evaluated by themselves and selected to support the bidding.

How far is the Polkadot slot auction?

According to Polkadot, the code and incentives must be satisfactorily verified in the real environment of value-bearing before logging into Polkadot.

Someone estimated the start time of Polkadot’s auction based on dot’s lease and unlock time as follows:

“If everything goes well, Polkadot will start auctioning 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 serious and difficult problems, it may be anywhere from November 21st to January 9th. “

I personally think that the last situation exists but the possibility is small, but a good meal is not afraid of late. As long as the development path is clear and the economic model can truly withstand market verification, investors will be willing to wait patiently.

Anyway, before 2022, everyone should be able to participate in Polkadot’s slot auction.

Even if Polkadot starts to auction, don’t ignore the role of Kusama.

Kusama and Polkadot, the development of the two public chains are inseparable and have an irreplaceable effect on the development of Polkadot ecology. Without Kusama, the test ground, there would be no stable operation of Polkadot. Without Polkadot, everything on Kusama The actions lost their meaning.

As the CEO of Ouyi OKEx said: “The future is not a world dominated by one chain, but through cross-chain technology to unite the major ecosystems, and each perform its own duties to create web3.0.”

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-kusama-slot-auction-horn-rings-again-how-far-is-the-polkadot-auction/
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