DailyCoin
Published Aug 20, 2021 10:31AM ET
Updated Aug 20, 2021 11:02AM ET
Polkadot Publishes the Schedule for the Next 5 Parachain Auctions on Kusama
The good news keeps rolling in for the team at Polkadot, who’ve been working hard on Parachain auctions on its testnet. In addition to being secured by the central Relay Chain, Polkadot’s Parachains will share and benefit from the scalability, governance, interoperability, and security of Polkadot.
While Kusama has five Parachain auctions, Polkadot has rolled out the schedule for the next 5. Members of the Kusama community should expect the sixth Parachain slot auction to commence on 1st September. It should give enough time to members to unstake KSM for auction bids and participate in existing crowd loans.
How the First Five Auctions Went Down
was a week long. Projects had to bid in the native token of Kusama, KSM, during the auctions. Members placed bids for a Parachain slot, and the winning bidder needed at least 100,000 KSM ($20 million) to win.
Things looked as exciting as they could after the end of each auction, with some projects coming out on top. Here are the first five projects to go live:
So What Can We Expect from These Projects?
Well for starters, these projects will add significant functionality to Kusama. It should be able to do this by supplying the infrastructure for decentralized finance, confidential cloud computing, EVM compatible and native smart contracts, and liquidity solutions.
The crowdloan campaign is a big part of how the slot auctions got on. It is an excellent crowdfunding mechanism that participants in ecosystems can use to stake KSM for the preferred Parachain candidate. Users who crowdloan get rewards in utility tokens.
The Schedule for the Next Kusama Parachain Auctions
After the first five auctions, Polkadot has announced the schedule for the subsequent five Parachain auctions on Kusama. Here’s what the 6-10 Auction schedule is shaping up to look like:
Conclusion
So there we have it, the auction schedule for the following five Parachain auctions on Kusama! While it may seem slightly different from the first in some ways, auctions still begin back to back with a two-day initial bidding period. It is followed by a five-day ending period, just like in the first five auctions. Which networks are you most excited to see, and which will you be rooting for?
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