With Parallel Chain Auctions Coming, DOT/KSM Holders Must Focus on Four Areas

The Boca Parallel Chain Auction is near and its value will really show up in front of our eyes.

Boka parallel chain auction is near, in the opinion of OEE OKE Intelligence Bureau, there are four issues that investors must pay attention to, 1) What are the steps of Boka parallel chain auction online; 2) How to observe the progress of Rococo test network; 3) DOT/KSM holders, why should we focus on parallel chain auction; 4) How should we participate in parallel chain auction? How to maximize the investment return?

1、Steps of Boka parallel chain auction online

Regarding the Boka parallel chain auction, I think we are most concerned about “when exactly does the parallel chain auction start”. To answer this question, we need to start from three aspects. That is, the steps of the bidding of Pococo parallel chain; which stage of Rococo test network is currently in progress; which parallel chains are currently participating in the test network testing

1) What are the steps of the bidding for Poca parallel chain?

The general process of landing a Pococo parallel chain.

a) Go live on the Rococo v1 test network and wait for its stable operation.

b) Going online with the public interest parallel chain (also called system parallel chain) on Kusama Advance Network.

c) Opening the slot bidding on Kusama Advance Network.

d) Putting online the Kusama Advance Network parallel chain.

e) Completing the audit and going online with the public interest parallel chain on the Polkadot main network.

f) Opening of slot bidding on Polkadot mainnet.

g) Go live on Polkadot mainnet parallel chain.

2) What stage has the current parallel chain of Polkadot progressed to?

According to the official news, Kusama, the Polkadot advance network, has officially launched the parallel chain auction function on May 14. As previously reported, Poca Test Network Kusama parallel chain announced that it has passed the v0.9.1 upgrade, this time upgrading the code related to parallel chain, auction and crowdfunding.

On the same day, Gavin Wood tweeted: “Parallel chain functionality has been deployed to the Westend Perma test network, followed by the Canary Network, Kusama and Polkadot in that order.

With Parallel Chain Auctions Coming, DOT/KSM Holders Must Focus on Four Areas

3) What projects are participating in the test?

Currently there are 11 parallel chains linked into Rococo test network, these 8 parallel chains are Tick, Trick, Track (these three are system parallel chains, no coin issuance, no need to pay attention), Plasm Network, Acala Network, Kilt Protocol, Phala Network PolkaBTC, Crust Network, Darwina Ntework, and HydraDX.

If you have the conditions, you can follow @polkawarriors on Twitter for real-time updates, or visit https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachains查看进度.

2、How to observe the progress of Rococo test network?

So are there any indicators that can directly tell me the progress on Rococo, the parallel chain test network?

1) Block out time: Is the block out time of parallel chain test network all stable around 6s, because the block out time of Boka/Kusama network is 6s, if the block out time of all these parallel chain test networks can be stable at 6s, then it means the parallel chain bidding time is coming.

We can follow this link to observe the block-out situation of each parallel chain test network: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachains

Below is a screenshot of the Rococo test network on May 17.

With Parallel Chain Auctions Coming, DOT/KSM Holders Must Focus on Four Areas

It can be seen that the block-out time of the parallel chains participating in the test network is currently converging to 6s.

2) Number of parallel chains: Before the restart of Rocococ test network, the following 11 test networks have been accessed, Tick, Trick, Track, Plasm Network, Mandala Network, Kiltprotocol, Phala Network, PolkaBTC, Crust Network, Darwina Ntework, and HydraDX.

With Parallel Chain Auctions Coming, DOT/KSM Holders Must Focus on Four Areas

The networks currently being accessed for testing are Tick, Trick, Track, Phala Network, Mandala Network, Plasm Network, and Crust Network.

There are still some parallel chains that have not yet been accessed and need continuous attention.

3、DOT/KSM holders, why should we focus on parallel chain bidding?

Specifically, there are three reasons as follows.

1) Closely related to the interests of token holders

You don’t have to pay attention to the voting progress of a motion, you don’t have to pay attention to his Staking ratio, you don’t have to pay attention to the XCMP development progress, but you must pay attention to the Boca parallel chain auction because it is closely related to your interests.

Essentially, you are locking your KSM/DOT to the parallel chain you want to support for slot rental, and the parallel chain will give Token of your own project in return. If the parallel chain has more rewards and high valuation, then it is likely to be a very substantial return for the user.

The most important thing is that you only need to lock your KSM/DOT and support the project to be able to get the parallel chain’s tokens for nothing, which is a very cost-effective deal and completely eliminates all the risks of ICO.

2) Boka Parallel Chain Auction is undoubtedly the wealth feast of blockchain industry in 2021, a large number of projects, funds, developers, exchanges and communities will witness this feat together.

Exchanges.

On March 2, Block Dream Fund, an investment arm of OEOKEx, has invested in Plasm and joined the Plasm ecosystem. And will support the parallel chain bidding of Boka and Kusama in the future, although the specific scheme is not out, but predictably, as long as the coins are placed on the exchange will be able to participate in the parallel chain bidding.

Yesterday, after this news came out, many exchanges are also following up, which will further push up the heat of the parallel chain bidding for Poka.

Crypto funds.

Dubai-based global crypto investment fund FD7 Ventures, for example, decided last week to sell $750 million worth of bitcoin assets within the next 30 days to increase the firm’s ADA to DOT position ratio.

With Parallel Chain Auctions Coming, DOT/KSM Holders Must Focus on Four Areas

3) Focus on parallel chain bidding because Boka is a good enough project

Technical features: its heterogeneous fragmentation mechanism makes the chain better customized; the forkless upgrade mechanism makes chain upgrade iteration easier; the on-chain governance mechanism makes community governance more efficient and fair; Substrate makes “one-click chain issuance” a reality, and may become the blockchain industry’s ” JAVA Spring”.

Ecological construction: The number of Poca, or Substrate-based blockchain projects is close to 380, and is increasing every day, involving wallets, NFT, DeFi, Bridge, smart contracts ……

Future Vision: Unlike the vision of Ethernet becoming the “world computer”, the vision of Poca is to become the foundation of “Web 3.0”, from which the Web 3.0 Foundation emerged. Poca is the inevitable product of the intersection of the blockchain industry and the Internet, and is also a product of its time, with a brighter future.

Founding Team: Gavin Wood, born in 1980, is a British national with a PhD in computer science from Duke University, UK. He was the first CTO of Etherpad, responsible for ensuring the design and development of Etherpad, and finally making it released smoothly; Gavin is also the inventor of Solidity language, the founder of Parity, the Etherpad client, and the author of Etherpad Yellow Book. Gavin is also the inventor of Solidity language, the founder of Parity, an Etherpad client, and the author of the Etherpad Yellow Book. In the words of Zhen Yang, the translator of the Etherpad Yellow Book, “Gavin is an outstanding software engineer and a doer”.

It is worth mentioning that Gavin and Charles Hoskinson, the founder of ADA, also had a sympathetic conversation.

ADA founder Charles Hoskinson: Congratulations Polakdot, you are both great engineers @Gavin Wood.

Gavin Wood, Founder of Polakdot: Thank you, Charles.

Charles Hoskinson and Gavin Wood are both former Ether co-founders.

With Parallel Chain Auctions Coming, DOT/KSM Holders Must Focus on Four Areas

Thus, as of May 17, 2021, Boca is already a technologically avant-garde, ecologically prosperous, visionary project with a golden founder.

Will this project work or not? I think the odds are that it can. We are now at the doorstep of the Boka parallel chain bid, how can this prodigious kick go in with the most handsome gesture? Let’s wait and see.

4、How should we participate in the parallel chain auction? How to maximize the investment income?

1)Participate directly in the exchange

According to PolkaWorld’s March 2 article, OEOKEx will be a portal for many users holding DOT and KSM to easily access our PLO (and receive PLM tokens), meaning you won’t have to mention your coins to your wallet to be able to support Plasm’s parallel chain bidding. Whether there will be partnerships with other parallel chains, such as Acala Network, Kiltprotocol, Phala Network, PolkaBTC, Crust Network, Darwina Ntework, HydraDX, and other parallel chains, will depend on the exchange’s later actions.

The benefits of participating in parallel chain bidding directly on the exchange: 1) no need to remember the helper words, the coins will not be lost; 2) the exchange will inevitably optimize the participation interface better, which is a great advantage for investors; 3) you can directly pledge your KSM/DOT live on the exchange (OEE OKEx), and the redemption only takes one day, while pledging on the main network takes a long time (DOT takes 28 days, KSM takes 7 days).

2) Participation in the wallet

The interface inside the wallet is not yet open as the Crowd Lending module is not yet open.

3) How should we allocate DOT/KSM to maximize the benefits?

I propose a one-third theory. The so-called one-third theory is to divide one’s DOT/KSM into three parts evenly, and each part is arranged as follows

a) One-third continues Staking.

b) One-third to participate in parallel chain bidding.

c) one-third to cash out and participate in parallel chain projects.

Brief explanation.

Staking is to pledge one’s tokens to earn interest.

Parallel chain bidding is to put one’s KSM through the auction module to support the bidding of a certain number of parallel chain slots, and then will get the token airdrop (USDT/this chain tokens/KSM) of these slots.

Cashing out means that there are already a lot of parallel chain projects on the exchange, so you can sell KSM tokens when KSM is high and buy tokens of Boka and Kusama parallel chains directly in the secondary market.

According to the OEE OKEx quotation, DOT is now quoted at 37.23 USDT.

The Boca Parallel Chain auction is close at hand and its value will be truly revealed to us.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/with-parallel-chain-auctions-coming-dot-ksm-holders-must-focus-on-four-areas/
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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