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23 June 2021

Polkadot Ready for Kusama Parachain Auctions | Crypto Briefing

Polkadot Ready for Kusama Parachain Auctions | Crypto Briefing


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Parachain auctions on Polkadot’s canary network Kusama will begin from Jun.

While there will likely be hundreds of crypto projects that participate in Kusama parachain auctions, some of the notable teams include Acala, Darwinia, Equilibrium, HydraDX, Karura Network, Robonomics, and Moonbeam.

As parachain auctions have never taken place before, they will first be organized on Kusama. For its role as the canary network, Kusama has already launched a parachain known as Statemine, whose logic is under audit.

The winner of a parachain slot auction will be decided based on a snapshot that is taken at a random time.

Before the auctions begin, projects striving to win slot auctions on Kusama, will ask contributors to lock KSM tokens within crowdloan contracts

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