From June 3rd to 4th, Kusama Network officially launched the first public welfare parachain Statemine. The so-called public welfare parachain can be understood as the infrastructure of the network, so it can be deployed on the Kusama network without bidding slots.
Statemine is upgraded from the parachain Shell, which is a parachain supporting general assets in the Kusama network. Specifically, with this parachain, Kusama will be able to support the minting, freezing, unfreezing, destruction, payment, and transfer of tokens, and may also support NFT in the future.
The launch of Statemine means that the Kusama parachain slot auction is not far away. Polkadot founder Gavin Wood and the team once revealed that after Statemine is running stably, the Kusama slot auction will begin. And the official will announce the start date of the first auction one week in advance.
Recently, we can also clearly feel that the Polkadot ecological project is intensively preparing for the slot auction: multiple projects have released the crowdlending rules of their respective leading networks. Many trading platforms have already launched portals for users to participate in pledge voting.
In this article, Beep News sorts out the projects that will participate in the auction of Kusama slots and their crowd lending rules, including which round each project party will start to participate in the auction, and how long they intend to lease the slots. What rewards are provided by voting users, how rewards and KSM pledged by users are unlocked, which entrances users can participate in, and so on.
At present, nearly 20 projects have indicated that they will participate in this feast. According to the existing information, the Kusama network will auction 1 slot every 7 days. For each slot, the project can choose to lease 1-8 periods, each period corresponds to 6 weeks, that is, the duration of 6-48 weeks . Gavin Wood once revealed that Kusama will launch 30-40 parachains in the first year.
Beep News organizes the slot auction and crowd lending information of each project party as follows, hoping to provide useful information for all readers who want to know and participate in the Kusama parachain slot auction. This article is not intended as investment advice.
Kusama parallel chain slot auction and crowd lending situation of each project party
Karura | Acala Pioneer Network
Token: KAR
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd lending reward rules: every time a user supports 1 KSM, they will get 12 KAR as a reward in one year. Another 10% of additional KAR is allocated to users who invite users to participate and invited users.
KSM lock-up status: 48 weeks
How to unlock rewards: 30% unlocked immediately, 70% unlocked in 48 weeks
Participation entrance: Karura official website, Kraken, OKEx, Huobi, Polkawallet, MathWallet, Fearless Wallet, Polkadot.js, etc.
Project introduction: Karura is the DeFi Hub in the Kusama network, providing a series of infrastructure, including pledge derivatives LKSM, stable currency kUSD based on multiple collaterals, automatic market-making platform Karura DEX, etc.
Khala | Phala Pioneer Network
Token: Khala will not issue its own network token, but will continue to use Phala’s PHA. This token is called K-PHA on Khala. K-PHA and PHA can be exchanged 1:1
When the auction starts: 2nd slot
Slot rental length: 48 weeks
Crowd lending reward rules: Users will get 100 K-PHA as a reward for each KSM they support. Inviting new users to participate, both the inviter and the invitee can get an additional 0.5% reward. In addition, the prize pool has an upper limit of 15 million K-PHA, first come first served.
KSM lock-up status: 48 weeks
How rewards are unlocked: 34% are unlocked immediately, 66% are unlocked over 11 months
Participation entrance: Khala crowdfunding DApp, Kraken, OKEx, Kucoin, Polkadot.js, etc.
Project introduction: Khala is a privacy parachain in the Kusama network. Its parachain Phala in the Polkadot network will provide CPU privacy computing power for parachains, DeFi, DApps, etc. on Polkadot.
Shiden | Plasm First Network
Token: SDN
When to start the auction: the first slot, after winning the slot, you will not participate in subsequent rounds of bidding
Slot rental length: 48 weeks
Crowd lending reward rules: A total of 9.9 million SDN tokens, accounting for 22% of the total tokens, will be used to reward users who participate in crowd lending. Among them, 20% are distributed according to certain rules, and the earlier the participation, the higher the reward. 2% as a bonus.
KSM lock-up status: 48 weeks
How to unlock rewards: lock for 1 month, then release linearly in 10 months, support Staking to earn income during the lock-up period
Participation entrance: OKEx, Fearless Wallet, Zenlink, MathWallet, Kraken, Polkadot.js, etc.
Project introduction: The design of the Kusama relay chain does not support smart contract functions, but Kusama needs to run smart contracts, which is the role of Shiden. Shiden supports Ethereum Virtual Machine, WebAssembly and Layer2 solutions from the beginning. The platform supports various applications such as DeFi, NFT, etc.
SherpaX | ChainX Pioneering Network
Token: KSX
When the auction starts: 1st slot
Slot Lease Length: Total lease length may be up to 2 years
Crowd lending reward rules: users will get 10 KSX as a reward for every 1 KSM they support. Rewards will also be provided based on the user's lockup amount, participation in invitation activities, etc.
KSM lock-up status: 48 weeks
How rewards are unlocked: one-time release
Participation entrance: OKEx, Huobi Pool, Zenlink, Polkadot.js, etc.
Project introduction: ChainX, SherpaX's parachain on Polkadot, is dedicated to Bitcoin Layer 2 expansion, digital asset gateways, and Polkadot Layer 2 relay chains to achieve cross-chain asset transactions and guide the new direction of Bitcoin cross-chain DeFi.
After SherpaX becomes the Kusama parallel chain, the main experimental direction is to cross-chain XBTC of ChainX to SherpaX, and XBTC on SherpaX will issue other synthetic assets through mirror simulation. Launch Bitcoin futures, options and other derivatives, forming the largest Layer 2 financial derivative platform for Bitcoin.
Bifrost
Token: BNC
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd lending reward rules: every time a user mints 1 vsKSM, they will get at least 10 BNC as a reward. The rewards include the BNC obtained when minting KSM into vsKSM, the BNC obtained by participating in the invitation event, and the BNC obtained after the successful auction. Users will also get KSM liquidity.
KSM lock-up situation: After the slot auction is successful, vsKSM and vsBond (the proof of rights and interests of the successful auction) can be circulated. After the lease period ends, vsKSM+vsBond can be exchanged for KSM 1:1
How to unlock rewards: 50% of the rewards obtained by successful auctions are unlocked immediately, and 50% are unlocked linearly in 48 weeks
Participation entrance: Bifrost official website, etc.
Project introduction: Bifrost is a parallel chain that provides liquidity for Staking on Polkadot and Kusama. Users can convert PoS currency into vToken through the Bifrost bridge at any time, and obtain Staking income and liquidity through vToken.
Darwinia Crab | Darwinia Advance Network
Token: CRING
When the auction starts: 4th slot
Slot rental length: 48 weeks
Crowd lending reward rules: every time a user supports 1 KSM, they can get a basic reward of 25 CRING per day during the crowd lending period after the auction ends (whether the auction is successful or not). If the auction is successful, you will also have the opportunity to win achievement awards, NFT awards, and 1BTC awards based on the pledge amount.
KSM lock-up status: 48 weeks
How to unlock rewards: There is no lock-up period for basic rewards, 30% of achievement rewards are unlocked immediately, and 70% are unlocked in 48 weeks
Participation entry: Polkadot.js, etc.
Project introduction: Darwinia Crab is a parachain in the Kusama ecosystem that supports cross-chain, smart contracts, and NFT. Crab provides smart contract solutions, so it can support DApps such as DeFi and NFT. Crab provides cross-chain interoperability, so it can provide access to Kusama for public chain projects such as Ethereum and BSC. The biggest feature of Crab should be the integration of NFT, blind box, GameFi, mining and other gameplay.
Zenlink SlotVault
Token: ZLK
Crowd lending reward rules: Zenlink itself does not participate in parachain slot auctions, but it provides a smart gun pool platform called SlotVault for users to participate in various parachain crowd lending activities. Earnings at different times. All users who participate in crowdlending through SlotVault can get ZLK as an additional reward, and the total reward amount is estimated to be 500,000-1 million ZLK.
KSM lock-up status: depends on the KSM lock-up status of each parachain
How to unlock the rewards: TBA, there may be a small part of the rewards that have a short-term lockup
Participation entrance: SlotVault
Project introduction: Zenlink is a cross-chain decentralized trading network in the Polkadot ecosystem, dedicated to building a new generation of cross-chain DEX. By integrating corresponding modules, Zenlink can enable parachains to have DEX capabilities and share liquidity with other parachains. Zenlink's DEX aggregator can link all DEXs on Polkadot, allowing users to exchange assets quickly and with low slippage.
Moonriver | Moonbeam Pioneer Network
Token: MOVR
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd lending reward rules: A total of 3 million MOVR, accounting for 30% of the total, will be rewarded to users who participate in crowd lending. Rewards are distributed according to the proportion of pledged amount.
KSM lock-up status: 48 weeks
How to unlock rewards: 30% unlocked immediately, 70% unlocked in 48 weeks
Participation entrance: Moonriver crowdfunding DApp, Polkadot.js, etc.
Project introduction: Moonbeam, Moonriver's parachain on Polkadot, is a parachain compatible with Ethereum smart contracts, dedicated to creating a multi-chain future.
Crust Shadow | Crust First Network
Token: CSM
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd-loan reward rules: The rewards during the crowd-loan activity period are, for every KSM supported by users, they will get 0.07 CRU and 14 CSM, and the upper limit of rewards is 15,000 CRU and 3 million CSM, on a first-come-first-served basis. The reward for the slot rental period is that if the raised KSM is less than 50,000, the user will get 1.5 CRU and 300 CSM for every KSM supported. If the KSM raised is greater than 50,000, the reward will be distributed according to the pledge ratio.
KSM lock-up status: 48 weeks
How to unlock the rewards: rewards during the crowd loan activity period are issued weekly, first come first served; rewards during the slot rental period, 30% are unlocked immediately, 70% are unlocked 10% every 6 weeks
Participation entry: Polkadot.js, etc.
Project introduction: Crust Shadow's parachain Crust on Polkadot provides a decentralized storage network in the Web3 ecosystem, supports multiple storage layer protocols including IPFS, and provides an interface to the application layer. Crust's technology stack can also support a decentralized computing layer. Crust aims to build a distributed cloud ecosystem that values data privacy and ownership.
Sakura | Clover First Network
Tokens: SKUs
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd lending reward rules: Users will get 200 SKUs for every KSM they support. Users who invite new users and early staking users will receive additional rewards.
KSM lock-up status: 48 weeks
How to unlock rewards: 28% unlocked immediately, 72% unlocked in 48 weeks
Participation entrance: Clover official website, Polkadot.js, etc.
Project introduction: Sakura's parachain Clover on Polkadot is committed to providing an easy-to-use blockchain infrastructure and creating a one-stop comprehensive infrastructure platform to reduce the developer's threshold and cost, and provide developers with rewards.
Genshiro | Equilibrium Pioneer Network
Token: GENS
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd lending reward rules: A total of 240 million GENS, accounting for 20% of the total, will be used to reward users who participate in crowd lending. Whitelist users can get 1% extra reward for every new user they invite.
KSM lock-up status: 48 weeks
How to unlock rewards: Distributed every 6 hours
Participation entry: Polkadot.js, etc.
Project introduction: Genshiro is a DeFi Hub in the Kusama network. Users will experience more encrypted assets on Genshiro, AMMs that can trade ETFs, stocks, gold, commodities and other derivative contracts.
Altair | Centrifuge First Network
Token: AIR
When the auction starts: 1st slot
Slot rental length: 48 weeks
Crowd lending reward rules: users will get at least 50 AIR for every 1 KSM they support.
KSM lock-up status: 48 weeks
How to unlock rewards: 25% unlocked immediately, 75% unlocked in 48 weeks
Participation entry: Polkadot.js, etc.
Project introduction: Both Altair and Centrifuge 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 the auction starts: 1st slot
Slot Rental Length: N/A
Crowd lending situation: It may be through crowd lending, or it may use the project's own funds to participate in the slot auction, and finally choose a method that is more conducive to the long-term stability and long-term development of the project.
Project introduction: KILT Protocol is used to issue verifiable and revocable anonymous credentials based on claims, providing DApp with user data sovereignty and interoperability. KILT has the potential to build new business models around trust.
Kpron Network | Apron Network
Token: KPN, KPN is a part of the Apron network distribution token APN in the form of Kusama, KPN can be exchanged for APN 1:1
When the auction starts: 3rd slot
Slot rental duration: first rent for 6 weeks as a test, and the subsequent rental duration depends on the test situation
Crowd lending reward rules: Users who pledge the first 100,000 KSM can get at least 10 KPN for every KSM they support.
KSM lockup situation: Locking is required during the slot lease
How to unlock rewards: 35% unlocked immediately, 35% unlocked in the second month, 30% unlocked in the third month
Participation entry: Polkadot.js, etc.
Project introduction: Kpron's parachain 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.
Hedgeware | Edgeware First Network
Token: HEDG
When to start bidding: TBA
Slot Rental Length: TBA
Crowd lending reward rules: A total of 20% of HEDG will be used to reward users who participate in crowd lending.
KSM lockup status: TBA
How rewards are unlocked: TBA
Participation entrance: TBA
Project introduction: Hedgeware's parachain on Polkadot Edgeware is a smart contract chain with community management treasury, decentralized protocol system and DAO network.
Robonomics
Token: XRT
When will the auction start: Estimated to bid for slots 3-6
Slot lease length: 48 weeks, total lease length is 2 years
Crowd lending reward rules: users will get 1 XRT for every 1 KSM they support. Users are expected to earn 125% of their staking returns within 48 weeks.
KSM lock-up status: 48 weeks
How to unlock rewards: 25% will be unlocked immediately, and 75% will be distributed after the Robonomics parachain is launched, which is expected to be distributed in 2-4 weeks
Participation entry: Polkadot.js, etc.
Project introduction: Robonomics is a safe, cost-effective and futuristic IoT platform that can connect robots on the Ethereum and Polkadot networks to bring about a robot economy.
Ares Protocol
Token: ARES
Slot leasing and crowdlending: TBA
Project introduction: Ares Protocol is a Substrate-based oracle project that aims to provide safe and reliable off-chain data for smart contracts and parachains in the Polkadot ecosystem in a decentralized manner.
Basilisk | HydraDX First Network
Token: BSX
Crowd lending reward rules: a total of 10 billion BSX, accounting for 10% of the total, will be rewarded to users who participate in crowd lending.
Other auction and crowd lending information: TBA
Reference article:
Reference article:
"Latest | Summarize 9 projects participating in the Kusama parachain auction! 》by Polka World
