If you don’t understand Polkadot, ask: How to participate in the parachain auction of Polkadot ecological projects?

Original title: Ask if you don’t understand | Parachain teams can lease up to 48 weeks of Kusama slots

With the restart and testing of Rococo, the Polkadot parachain test network, more and more students are paying attention to when the Kusama auction will go live and how to participate in the Polkadot ecological project. PolkaWorld held the second "Ask if you don't understand" online event this Thursday, answering everyone's questions in a unified way, and organizing some frequently asked questions into a text version for your convenience.

1. What progress has Rococo made recently?

Parity changed the slots for auctions and crowdlending to 8 slots. This means that if Kusama launches the parachain, the parachain project can bid for up to 8 consecutive periods. If each period is calculated according to the previous 6 weeks, then the 8 periods are 48 weeks, that is, the parachain Projects can rent up to 48 weeks of Kusama slots, so for ordinary users, you need to lock up to 48 weeks of KSM. In addition, Parity explained that there is actually no substantial change, it just provides more choices for everyone!

The Polkadot ecological concept sector has an average increase of 19.46% today: Jinse Finance and Economics quotes show that the Polkadot ecological concept sector has an average increase of 19.46% today. Among the 26 currencies, 23 rose and 3 fell, among which the leading currencies were: KLP (+136.37%), ANKR (+42.22%), DOCK (+40.45%). The leading currencies are: INSTAR (-25.96%), CHI (-3.10%), MATH (-2.21%). [2021/6/23 0:00:54]

https://github.com/paritytech/polkadot/pull/2862

Regarding the reconstruction of XCM, Gavin is currently undergoing a series of modifications. XCM changes have caused many compilation problems, so for the parachain team, it is necessary to change a lot of XCM codes when upgrading the version. So most of the current parachain projects are waiting for the end of XCM’s refactoring and Rococo’s final upgrade before proceeding with parachain upgrades and tests! For the development progress of XCM, you can follow this link:

Huobi’s Polkadot project RAI went online with an increase of 351%: According to Huobi’s market, Huobi Global has opened RAI (RAI Finance) currency trading at 15:00 on April 7, 2021. As of 15:30, RAI rose to 5.5 USDT, up 351%, and the current quotation is 2.7 USDT, up 122%. The market fluctuates greatly, please pay attention to risk control.

It is reported that from April 1st to April 7th, users can flexibly lock HT, DOT, and STPT on Huobi to participate in RAI new coin mining. The total reward for mining is 4.998 million RAI, and a total of 13.5 million USDT will be rewarded according to the current price. [2021/4/7 19:54:34]

https://github.com/paritytech/polkadot/issues/2841

2. When will ecological projects like Acala and Plasm be launched?

The full aggregation agreement OpenOcean and the Polkadot cross-chain trading network Zenlink reached a strategic cooperation: On March 11, the full aggregation agreement OpenOcean reached a strategic cooperation with the Polkadot-based cross-chain decentralized trading network Zenlink. OpenOcean will aggregate Zenlink DEX to provide users with Provide a convenient transaction entrance for Polkadot ecological related assets. In addition, both Zenlink and OpenOcean are agreements with cross-chain attributes. The two parties have reached a cooperation to jointly explore the possibility of multi-chain aggregation technology.

Zenlink is a cross-chain DEX protocol based on Polkadot. It has completed the delivery of two Web3 Foundation Grants and will soon release a testnet during the card slot auction. The strategic cooperation with Zenlink is OpenOcean's first step towards Polkadot ecological aggregation. [2021/3/11 18:35:18]

For ecological projects such as Acala, Plasm, and Bifrost, everyone is still a test network or a PoA network. For ecological projects that want to become parachains, they need to bid to win slots. After they are connected to the Polkadot relay chain, they can be regarded as the real launch of the mainnet! So at present, the launch time of the ecological project depends on the launch time of the parachain. So everyone should pay attention to the start time of the parachain first!

Polkadot will hold a Substrate developer meeting on October 15: On September 27, Parity Technologies, the company behind the blockchain protocol Polkadot, tweeted and announced that it will hold a Polkadot infrastructure Substrate developer meeting on October 15. The conference will develop all content-zce of the blockchain framework for customizing polkadot-compatible chains and will feature lectures and workshops. [2020/9/28]

3. Is Polkadot solving Ethereum’s problems?

This issue has been discussed many times before. The biggest problem of Ethereum at present is congestion, limited network scalability, and high gas fees. As a Layer 1 blockchain, before the realization of Ethereum 2.0, Ethereum has been trying to solve existing problems through Layer 2 solutions. If 2.0 has not come out, in fact, Layer 2 is a solution to a certain extent, not a permanent solution.

Polkadot has been solving the bottom-level problems from the very beginning, so Gavin has been telling everyone that Polkadot is a meta-protocol and a Layer0 blockchain. Polkadot hopes to solve the problem from the root of the problem, adopting the architecture of relay chain and parachain to improve scalability and achieve interoperability at the same time. Each parachain can focus on its own business logic, and each parachain can be an Ethereum.

Therefore, Polkadot has been a lower-level and more general blockchain protocol than Ethereum from the very beginning! And essentially solve the scalability problem, and then achieve interoperability.

4. How to participate in the parachain auction of the Polkadot ecological project?

First, you need to unlock your KSM (unlocking period of 7 days) and DOT (unlocking period of 28 days) in advance, and then after the parachain function is officially launched on the Kusama network, use the crowd loan module on polkadot.js.org to support what you want to support Parachain team. have to be aware of is:

Know the lock-in plan and reward plan of the project you support;

Determine the auction channel with the parachain team. Some teams may choose to cooperate with some exchanges in addition to polkadot.js.org, so you may also participate in the team’s auction through the exchange, so be sure to confirm with the team about other third-party channels;

Never transfer your KSM/DOT directly to a team claiming to be bidding on a parachain, it could be a scam.

If you are still worried that you can't operate, don't worry, PolkaWorld will release tutorials as soon as possible! If you have any questions, or worry about being cheated, you can first confirm with PolkaWorld!

5. A certain project cooperates with an exchange to bid, is it a Polkadot parachain project, and can it participate in their bidding plan?

At present, all teams who want to bid for parachains will choose to deploy and test on the parachain test network Rococo as soon as possible! So if you want to know whether the parachain auction plan for certain projects released on an exchange is true or not, you can go to Rococo to see if they have tested it for the first time! If a project does not participate in the test and has no interaction with Polkadot officials, it is basically unreliable and extremely irresponsible to directly cooperate with a certain auction!

If you don’t know which team to choose to support, instead of choosing these cottage projects, it is better to carefully understand the first batch of early projects in the Polkadot ecosystem: Acala, Plasm, KILT, Bifrost, Phala, ChainX, etc.

Rococo URL:

https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachains

6. How to participate in offline activities in each city?

PolkaWorld holds offline Meetup events in different cities every month. Friends who want to meet us offline can follow PolkaWorld’s official account. All event information and Polkadot progress will be posted on the official account! We will also give away 50 Polkadot limited tshirts and random Dr. Gavin Wood figures in each offline event.

Welcome to learn Substrate:

https://substrate.dev/

Follow Substrate progress:

https://github.com/paritytech/substrate

Follow Polkadot progress:

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