By Teriyaki Don
In the recent Sub0 conference, Gavin Wood, the founder of Polkadot, announced that from December this year, Polkadot can technically support parachains, and Polkadot has begun to prepare for the parachain slot auction lease period 6-13 Just around the corner.
"As far as the production status of the code is concerned, we believe that from a technical point of view, parachains can be supported starting in December. And Polkadot will start preparing for the auction lease period 6-13 is just around the corner, and the first round of auction preparations will begin."
"We think the logical approach is an ongoing auction, since Kusama is Polkadot's lead network, ensuring that before the code matures (and we know more about the number of parachains, and the transactions they can handle in the current structure) volume and message volume), the total number of parachains joining Polkadot does not exceed 75% of the number running on Kusama. We are considering shortening the auction time for the initial parachains. Generally speaking, we will follow the previous practice, that is, Each auction takes about two weeks."
· Gavin Wood
Subsequently, regardingAuction process and schedule for the first and second roundsThe proposal has been submitted to the Polkadot Council, as follows:
First round - each auction lasts 7 days, a new auction starts every 7 days
· Auction 1: November 11, 2021 to November 18, 2021
· Auction 2: November 18, 2021 to November 25, 2021
· Auction 3: November 25, 2021 to December 2, 2021
· Auction 4: November 2, 2021 to December 9, 2021
· Auction 5: December 9, 2021 to December 16, 2021
The first round of winning slots parachains will go live on December 17th and last until October 20th, 2023.
Round 2 - Each auction lasts 7 days, with a new auction starting every 14 days
· Auction 6: December 23, 2021 to December 30, 2021
· Auction 7: January 6, 2022 to January 13, 2022
· Auction 8: January 20, 2022 to January 27, 2022
· Auction 9: February 17, 2022 to February 24, 2022
· Auction 10: March 3, 2022 to March 10, 2022
The parachain that won the second round of slots will go live on March 11, 2022, and the lease period will last until January 12, 2024.
No.Proposal 118 has been voted by the Polkadot Council, which is now passingReferendum 39Voting is open to the public. Judging from the current voting status, it can basically be confirmed that the proposal will be passed.
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Differences between Polkadot crowdfunding and Kusama crowdfunding
Users who are familiar with Kusama crowdfunding, please note that this Polkadot crowdfunding is slightly different from the previous ones.
The biggest difference is the time span of locking Token in crowdlending.
In Kusama, to support a parachain, your KSM needs to be locked for 48 weeks. However, on Polkadot, to support a parachain, your DOT needs to be locked for 96 weeks. Because the locking time of Token on Polkadot is twice that of Kusama, you need to carefully consider and carefully study the crowdlending activities of each parachain.
Another difference is the online process of the parachain. On Kusama, if a project wins a slot, its parachain will go live right after the auction. On Polkadot, if a project wins a slot, its parachain will go live again at the start of a new lease period. Therefore, the first round of 5 parachains will be launched together on December 17, 2021, and the second round of 6 parachains will be launched together on March 11, 2022.
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Why are crowdfunding so popular?
Crowd lending is a way to help projects grow their communities. DOT holders can lock the DOT of the community through crowd lending to support the project, and get a certain amount of native Token of the project as a reward. The number of Token rewards obtained depends on the project party, so some project parties may increase the number of rewards to obtain a sufficient number of DOT support to achieve the launch of Polkadot as soon as possible.
The competition between projects for parachain slots is of great benefit to DOT holders, and the project party will even add additional rewards to attract crowd lending participants. In addition, after the end of the parachain lease period, the DOT pledged by the crowd lending participants will be returned in full. So crowd lending itself is a very safe mechanism.
In addition, the parallel chain mechanism can also ensure that the project can provide value to the ecology while continuing to develop. The parachain lease period lasts for 2 years. After the parachain lease period ends, the project will seek community support again to secure a parachain slot. If the project cannot continue to provide value to the Polkadot ecosystem, its parachain slot will be replaced by other new or more potential projects.
Once the project successfully wins the parachain slot, crowd lending participants will receive generous incentives. As Token holders, they will also help the development of the project community.
A more convincing example of crowdlending is the recentMoonriver Crowd Loan. along withMoonriver allocates a lot of MOVRTo the crowd lending participants, the community develops rapidly. It is precisely because of such an active community that application developers can quickly put their projects on Moonriver to provide services to the community.
Moonriver is currently the project with the most active ecology, the most Token holders, the highest Token transaction volume and the highest market value among all Kusama parachains. This is the performance before the deployment of star projects such as SushiSwap, CREAM Finance, dTrade and other protocols on Moonriver.
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Moonriver's "success" will help Moonbeam
Let us review the successful case of Kusama crowdlending - Moonriver crowdlending. We can clearly find that the community growth potential during crowdlending is unlimited. With Token as a reward, the influence and natural flow generated by guiding community participation are unparalleled in traditional marketing. The crowdlending rewards obtained by Moonriver crowdlending participants are quite generous, which has triggered extensive publicity and long-term attention on social media, KOL, and capital.
Since MOVR went live on August 27th, the number of @MoonbeamNetwork Twitter followers has increased by nearly 40%, and the number of Moonriver Twitter followers has also increased year-on-year. Analyze websites based on encrypted dataLunarCrushAs shown by the data of $MOVR, it has been one of the most concerned Tokens in the past few weeks.
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Looking forward to Moonbeam, looking forward to the future of Polkadot
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Details about Polkadot crowdfunding
I hope that in the next few days, more projects will announce the details of participating in Polkadot crowdlending, including Token rewards and incentive policies.
For those who want to participate in Polkadot crowdlending, please make sure to unbind your DOT as soon as possible to prepare for crowdlending!
