Click to enter video playbackClick to enter video playback）
In the round table session, we are honored to invitePolkaWorld co-founder xiaojie, Manta Network core contributor Victor Ji, SubQuery China representative Siqi, Centrifuge Token Designer Cassidy Daly, Bit.Country CEO and co-founder Ray Lu, MathWallet global BD Manager ViVi(host)At once"Forecast: How to get a head start in the second round of Kusama slot auctions?” topic to share.
Among them, xiaojie said that the second round of slot auction will be on 15-22 lease, and the estimated time will be around the week of September 3rd to 10th. If there is no filming in September, it may be postponed for another month. This is our estimated time and does not represent an official time.
In addition, xiaojie also gave three suggestions to the projects participating in the auction: First, everyone can start crowd lending in advance. Don’t wait for the council to activate the auction function before you initiate it. You must open it in advance. This is a good opportunity to seize the opportunity The key point; second, if the competitors are more competitive, the bonus situation can be adjusted in due course; third, don’t give up until the last moment of the auction, don’t feel that the random end period is coming, the probability is getting lower and lower, Don't increase the amount of crowd loans, you can still work hard.
Victor Ji introduced that Manta Network focuses on on-chain privacy, and supports turning all assets on the Polkadot parachain into private assets, and then makes these private assets similar to the private version of Uniswap, and makes some combined products. We announced the parachain auction strategy of Calamari, the leading network of Manta Network, and a maximum of 30% of KMA will be distributed to Kusama users. In addition to Pioneer Network, Manta Network also has a test network, which has been running smoothly for two months since May, and is currently doing the final front-end development. In addition, we have just conducted cross-chain communication with Acala on the testnets of both sides, which also demonstrates the composability of Polkadot. More information, we will have a more detailed disclosure next week.
Manta has fully disclosed the plans related to crowd lending on its official website. Welcome everyone to pay attention to our newsletter. We hope that the auction will start as scheduled in early September.
Shi Qi said that SubQuery provides developers with on-chain data indexes. Instead of directly participating in the auction of card slots, it is actually indirectly supporting various developers and project teams to participate in the auction of card slots. We won't be participating in the second round of bidding at this time, but we'll be watching closely and the long-term goal is indeed to get a slot. The original intention of SubQuery is to provide more developers with more convenient and open data indexing services on the chain, so as to help developers save a lot of time for back-end construction and have more time to create more front-end interfaces. A good program is a more concise and easy-to-understand program for users. In terms of supporting projects, SubQuery has already cooperated with the top five teams in the last round of card slot auctions, and has also reached cooperation with Manta Network and Bit.Country on the round table.
In addition, Kusama will not explode immediately after the auction, but the valuation of projects on Polkadot and Kusama is usually higher than that of DeFi projects, because everyone is not just an application, but provides some Platform functions make everyone more interconnected, so this must be a more valuable ecological bottom layer.
Cassidy Daly revealed that Altair is ready for the second batch of parachain slot auctions. The reward provided by Altair is 400 AIR: contributing 1 KSM to crowdlending can get up to 15.8% of network crowdlending participant rewards. Once the boot process is complete, rewards can be claimed on Altair, after which a 25% reward can be unlocked.
In addition, Altair's biggest advantage is that its Dapp products are already online and provide real value streams. Up to now (Centrifuge has been online for 1 year), the locked volume has exceeded 28 million US dollars.
Ray Lu said that as the first Metaverse project on Polkadot, Bit.Country (Xiaoyuan World) has been funded by Web3, completed the seed round of financing, and is participating in courses under the blockchain incubator of the University of Berkeley, α version It will be released within two months, and internal testing has already begun.
The responsibility of Bit.Country is to enable users of different classes and backgrounds to experience the value brought by the blockchain. In the early registration form and activities, there are about 25,000 users, and there are also 200 domestic and Western big Vs. It is estimated that the fans they have reached have reached 200 million. They like to build their own "Xiaoyuan Community" , distribute the land to his fans, and build the Metaverse together. Plus, we can bring new traffic to other projects.
The following is the essence of the round table, edited and organized by Odaily, enjoy~
ViVi (MathWallet, host): In the first session, let's let the guests introduce themselves.
Siqi (SubQuery):Thank you ViVi, thank you for the invitation. Our SubQuery provides on-chain data indexing for developers. Our team is mainly based in New Zealand. I became the Chinese representative of the project this year. My name is Shiqi.
xiaojie（PolkaWorld）：Hello everyone, today I have invited some projects that are interested in participating in the second round of auctions. I may be the only one who is not a project party. PolkaWorld is the Chinese community of Polkadot, so today I will talk to you about the time of the second round of auctions, Rules, and some little tips from what we've seen from the first round, thanks.
Victor Ji（Manta Network）：Hello everyone, thanks for the invitation, I am Victor, one of the core contributors of Manta Network. Manta Network focuses on on-chain privacy and is built on Polkadot. What we do is very simple. One is to turn all the assets on the Polkadot parachain into privacy assets, and then make these privacy assets into a Uniswap similar to the privacy version, and make some combined products. We look forward to participating in the next In the round card slot parachain auction, our team is mainly based in the United States.
Ray Lu（Bit.Country）：Hello everyone, my name is Ray, and I come from Bit.Country. Our Chinese name is Xiaoyuan World. It is the first metaverse project on Polkadot. At present, we have Web3 funding and completed the seed round of financing. Participate in the course under the chain incubator, our α version will be released within two months, and the internal test has begun now. Most of our team is in New Zealand, and some are in Australia, London, and Silicon Valley. I am very happy to be here, thank Acala, for the invitation, and look forward to discussing the next round of auction activities with you.
Cassidy Daly（Centrifuge）：Hello everyone, I'm Cassidy from Centrifuge, very happy to be here. Our Centrifuge mainly helps assets on Polkadot to do tokenization, DeFiization and financing.
ViVi: MathWallet also supports Polkadot a lot, and I look forward to discussing more with you later. The topic of our roundtable today, except for Xiaojie, is the project party, and they all want to participate in the auction. It was said that the second round may start in September. According to this calculation, there is only half a month left. I would like to ask Guys, are you ready for the development time and what stage is your project at?
Victor Ji：We have several sections. In the just-concluded July, we announced the parallel chain auction strategy of Manta Network’s leading network Calamari. We will distribute up to 30% of Calamari’s KMA to Kusama users. In addition to the leading network, Manta Network also has a test network. It has been running smoothly for two months since May, and is currently doing the final front-end development. In addition to on-chain development, on the front end, the last step of transaction privacy, there are two versions for Windows and Mac, which are used to generate the entire zero-knowledge proof. This is a very different product. On Tornado Cash, a private transaction can only be withdrawn as a public transfer and cannot be decentralized. Different from mixed currency products such as Tornado Cash, you can deposit 10 DOTs on Manta, and you can withdraw 8 DOTs. The private DOTs deposited can be fragmented. This is a very interesting product design. The testnet is expected to come out in these two months.
Another interesting thing is that we have just done cross-chain communication with Acala on the testnets of both sides, which also demonstrates the composability of Polkadot. For more information, we will disclose more details next week. Technically, we have completed all of these. I am very happy to share these progress with you.
Siqi:For SubQuery, rather than saying that we directly participate in the slot auction, it is better to say that we are actually indirectly supporting various developers and project teams to participate in the slot auction. Because the original intention of SubQuery is to provide more developers with a more convenient and open chain data indexing service, so as to help developers save a lot of time for back-end construction and have more time to create front-end A program with a better interface, a program that is more concise and understandable for users.
Judging from the projects we support, we have already cooperated with the top five teams in the last round of card slot auctions, such as Moonbeam, Bifrost, Acala, etc. Manta Network and Bit.Country, who are now holding a round table with us, are also us Partners, you are actually a very good team, we are honored to cooperate with you.
Let me briefly introduce our current progress. SubQuery is working hard to make all data more transparent and easy to check. We also hope to support data indexing of other blockchains, such as EVM, Solana, etc. We hope to build faster services and provide better services for teams and customers who need data indexing performance.
We are also actively participating in hackathons and other activities, and working hard to export some courses to send more developers to the ecosystem. Like Bit.Country, we are also a research team under the University of Berkeley. The goal of everyone here is to make the ecology more vigorous, and so are we. The long-term goal for us is really to get a slot, we won't be participating in the second round of bidding at the moment, but we'll be keeping an eye out.
Ray Lu：Our testnet has been online for a while and has done some node activities. Although we do not need nodes after entering the parachain, currently, nodes rank first in Polkadot's ecology. We have considered participating in the second round of bidding. Since entering the Polkadot ecosystem at the end of last year, the basic functions have been completed. After it goes online, we can slowly release it, just like Acala and the top five participating projects. The difference between us is the "metaverse", which is different from other metaverse projects. We allow every community, every project, and every individual to build their own "small metaworld" metaverse. You can It has its own layout and 3D world, and we can also use our API to allow third parties to build their own games, like Roblox. Our team has done a lot of tests in this area in the past three months, and now we have some demos. The current feedback is quite good, especially in the United States, Europe, and some big and small Vs in China also like to use Bit.Country Build your own community, allow their fans to own a piece of land in their world, and earn community coins by giving the community work to mine.
We changed this experience from Web 2.0 to Web 3.0, so that the relationship between big V and fans is not the traditional interaction, but assets. You can follow our Twitter and official account, and you can see some screenshots and videos. We will gradually release the stable version of our Alpha 0.1 to early users, and you can preview it in advance on our website. We also conduct Polkadot education projects overseas with Acala and issue certificates. If you are interested in learning technology, please inquire online.
Cassidy Daly：We are getting ready for the next round of auctions and we are very excited about it. Altair is ready and open for the first round of auctions, and we look forward to reopening crowdlending for the second batch of parachain slot auctions.
ViVi: In addition to the question about the project party, there is another very important question I would like to ask Xiaojie, whether he can disclose some details of the future auction time, which can be used as a reference for our project party.
xiaojie：Early September. Some time ago, PolkaWorld published an article, because many users are concerned about when the auction will start. We make some judgments based on our own judgment, in fact, mainly based on the lease time. As you know, whether you auction on Kusama, or When auctioning on PolkaDot, what you auction is actually the lease period, up to 8 periods, and you can bid for 1 or 8. But it has a rule that all the auctions in this round must be completed in one lease, because the five projects in this round cannot be auctioned in different leases. If the auction of all five parachains in this round ends, it must end within the same lease. As for explaining this logic in detail, you can read that article.
To draw conclusions, if the second round of auction is on the 15-22 lease, we estimate that it will be in the week of September 3rd to 10th. If there is no shooting in September, then the 16-23 lease may be shot in the second round, which will be postponed for another month. This is our estimated time and does not represent an official time.
The specific process and rules will actually be the same as the first auction. Kusama’s crowd loan will be opened in advance. Users who want to participate in the auction, or want to support the second round of parachain auctions, can pay attention. Once Kusama is opened With the crowd loan module, project parties can initiate crowd loans on Polkadot, and community partners can also support the projects you want to support as soon as possible. When does it actually turn on? There is a signal, everyone can pay attention to it. Kusama’s council will initiate a motion. After the motion is passed, the auction will start. PolkaWorld is also a member of Kusama’s council. We will also participate in voting to start the auction this time. Once the auction starts, it will be the same as the first time. Projects that initiate crowd lending will go through a two-day auction period and a five-day random end period. If this is repeated five times, the five rounds of auctions will end. Because from the end of the first auction, we will feel that the pressure of competition will be greater in the future, so project parties and parachain teams who want to participate in the second round of auctions can formulate their own strategies in advance.
Come on everyone, go to the sixth to tenth slots.
ViVi (host of the round table): Thank you xiaojie, the analysis is very reasonable. If you participate in the auction later, you can pay more attention to xiaojie's information. The second question is a question that investors are very concerned about. With regard to the specific incentive plan for crowd lending, within the scope of disclosure, can more details be disclosed to everyone, such as the approximate proportion of tokens distributed, whether the crowd will How about the details?
Victor Ji：We can all make it public, and we have also disclosed it on the Internet. If you want to check, you can directly look at it. There are three main points.
First, regarding KMA, we did not use KMA to raise funds, nor did we give it to the team. The initial circulation disk just launched is all for parachain participants and Kusama contributors. This is the easiest way to obtain KMA , is also the earliest way to get KMA.
Second, regarding when to issue coins, after getting the parachain, there will be governance first, and then there will be distribution.
Third, we will also pay attention to the KSM cost of any KSM holder. In this regard, we have set up three layers to ensure that there will be a maximum of 30% of the tokens, increasing from the initial 10% to 20%, and up to 30%. In addition, no matter whether it is the earliest participation or the last participation, each KSM can get at least 10,000 KMA, and the previous KSM distribution rewards will not be diluted because of the large number of participants. If the tokens are released, 34% of the KMA will be released in the early stage, and then released every 8 weeks. This is the basic distribution model. The specific details are on our official website, and everyone is welcome to pay attention to our newsletter. I also agree with what Xiaojie said, we hope to go online in early September, otherwise we may have to wait another month.
Ray Lu：In terms of the reward mechanism, our first consideration is to give our investors a return expectation. For example, we will do some price issuance process to find the value of Token through various methods. KSM users have an opportunity cost and can pledge or do other projects. The return rate we give investors is between 20% and 30%.
Second, we are still thinking about a problem. At present, we should use one or brand to build the two networks of Kusama and Polkadot. We are still discussing this matter with the Polkadot official, because we are a community, and our customers may not have too much Big demand, different communities on two different platforms, such as Bit.Country, it is the same for them on Kusama or Polkadot, so we may put some Tokens on Kusama and another part on Polkadot , we are designing a unique economic model.
Our design is that 50% of the Tokens will be given to the community, and most of them will be used in auctions, which may be on Kusama or Polkadot. We are still confirming this. There is also a part that allows users to go to our platform and mine while playing your Metaverse, but this has a cost, and we need to use our Token to buy land and mining capabilities, but the mines that are dug out are also from Part of our 50% rewards.
This is the information we can reveal so far. When we held a meeting with Polkadot recently, we also asked about when the next auction will start. As Xiaojie said, it is expected to take a few weeks, but I personally feel that there will be a delay, which is not a big problem for us , because the game is a relatively heavy project, it is also a good thing for us to delay a little bit.
Cassidy Daly：The reward provided by Altair is 400 AIR: Contributing 1 KSM to crowd lending can get up to 15.8% of the network crowd lending participant rewards. Once the boot process is complete, rewards can be claimed on Altair, after which a 25% reward can be unlocked.
ViVi: Finally, it is an opportunity to solicit votes. Project parties will introduce their biggest advantages compared with other competitors. You can also start from the perspective of ecological construction. After all, Kusama won the slot in the first two rounds. An eco-veteran project. In your opinion, what does your project mean to the Kusama ecology, and how does it help the subsequent ecological development?
Siqi:In fact, the elders of the ecosystem refer to those who have reached a lot of cooperation with everyone, not just those who have raised a lot of funds in crowdfunding. In any case, I think that parallel chains can work together, which is a very good thing for all teams and ecology, including developers and investors. The goal provided by Kusama and Polkadot is to hope that as many people as possible can work and communicate with each other. These parallel chains that have obtained card slots can all obtain unique ecology, and through the cross-chain function of the relay chain, these ecology can be connected. After everyone's card slots are obtained, the parachains are gradually improving their functions. The guests at our last round table are also introducing, including opening governance, stable block generation, transfer, rewards, etc., to attract more participants. The whole process takes time, and Kusama will not explode immediately after the auction, but the valuation of projects on Polkadot and Kusama is usually higher than that of DeFi projects. We have seen that everyone is not just an application, but It is to provide some platform functions for the entire ecology and make everyone more connected, so this must be a more valuable ecological bottom layer. Polkadot and Kusama are an important part of the Web3.0 ecology. The launch of Kusama also means that the entire ecology is officially put into use. This is a very important step for the Polkadot ecology and the entire blockchain industry.
Cassidy Daly：In my opinion, the biggest advantage of Altair is that our Dapp products are already available and provide real value streams. As of now (Centrifuge has been online for 1 year), our lockup volume has exceeded 28 million US dollars. We integrate with many other projects in the ecology, and their addition will make the overall growth of the entire ecology bigger and bigger.
Victor Ji：In fact, the most important point of the parachain is the strong customization ability for us, because we are doing the on-chain privacy of zkSNARK. After several months of technical exchanges with Acala, we have successfully achieved cross-chain transfers and communications of XCM, including transfer of Acala’s aUSD or kUSD to the Manta chain for privacy, and then transfer the private assets back to Acala’s original On the chain, this process shows that different customized products can also achieve the same function, and the cost will be very low, which is the value of the entire Polkadot.
For the value of Calamari, it is currently the first and only parachain that uses zkSNARK for on-chain privacy protection. After Manta goes online, many privacy functions will also be verified. Manta also has a "long tail effect", and you can choose to contact many directions , and eventually we will find the best solution to apply to Manta. Obtaining a card slot is only the first step, more through privacy empowerment, and more other projects, so that the entire Kusama and Polkadot can realize an end-to-end cross-chain privacy ecology. This is not only the expectation of our team, but also the entire Web3.0 community. We have communicated with our partners before, and there are many privacy scenarios that can be applied. At present, the parallel chain is only the first step, and the future of Polkadot has just begun.
Ray Lu：I think Web3.0 has given us a new era, it is a blue ocean, just like humans are now going to Mars, it is an unknown field, and it is a very vast market, not like the current Web2.0 market , is already a saturated Red Sea. In this process, we are looking for partners, especially at today's meeting. In fact, we are bringing a lot of people into the blockchain so that they can benefit here. Our responsibility is to enable users of different classes and backgrounds to experience the value that blockchain can bring. Because we are in the metaverse, everyone can develop his own "small metaworld", let his family, friends, and fans come to his world, own property, and have many opportunities to make money. On the platform of "Xiaoyuan World", there are many models of earning rewards by building a community to stimulate the development of our community. Many people who did not understand the blockchain before have begun to understand the blockchain, especially Understand the Kusama and Polkadot systems. In our early registration forms and activities, there were about 25,000 users, and there were also 200 domestic and Western big Vs. According to our estimates, the number of fans they have reached has reached 200 million. They like it very much. Go build your own "Xiaoyuan community", distribute the land to his fans, and build a metaverse together.
In addition, we can bring new traffic to other projects. For example, more users need privacy, or more data needs to be processed, and reports need to be generated quickly. In particular, more people will pay attention to our community, and more Understand and learn more about Polkadot, because we can better reach ordinary people. This is our uniqueness.
ViVi (round table host): Finally, I would like to ask Xiaojie, do you have any opinions on the subsequent development of the ecology and the participation of various projects, or do you think these will help the development of the entire Kusama ecology?
xiaojie：I think for the development of the ecology, the more Layer 1 links to Kusama, or the relay chain of Polkadot, it is a matter that really starts the Polkadot ecology. Before the opening, the entire ecology only has the value of DOT. After the auction starts, more and more value can be fed back to Polkadot itself, and then our ecology will grow stronger and stronger.
Gavin started writing the white paper in 2016. He himself mentioned the vision of heterogeneous multi-chains. He originally proposed the vision of the relay chain + parachain architecture. First of all, we are honored to be able to participate in the parachain auction; secondly, we are glad to witness the arrival of this moment; thirdly, we also look forward to the growth of Polkadot’s ecology with more and more parachains.
From the first auction, to the second auction, and to the subsequent auctions, we have gone through such a circle, and there are a few places we have seen that we can share with you.
First, everyone can carry out crowd lending in advance. Don’t wait for the council to activate the auction function before you initiate it. You must enable it in advance. This is a key point to seize the opportunity.
Second, if the competitors are more competitive, the bonus situation can be adjusted in due course.
Third, don’t give up until the last minute of the auction. I think Bifrost is a good case. When they were shooting the fifth one, they actually had a lot of competition with another project. Lurpis estimated the pressure of those two days It is also very big, because the competition is too great, but fortunately, he did not give up and successfully surpassed his competitors at the last moment. So I think, don’t think that when the random end period is reached, the probability is getting lower and lower, so you don’t want to increase the amount of crowdfunding, you can still work hard, and don’t give up until the last moment.
ViVi (round table host): Thank you xiaojie, and thank you all the round table guests for their frequent sharing.
