Plasm Pioneer Network Shiden's Parachain Auction Strategy

Overall, we set aside a 30% reserve for Kusama online auctions. For the first auction we will use 15% of the SDN tokens (6,750,000 SDN). All crowdfunding and auction participants can earn SDN tokens by locking KSM for 11 months (1-8 consecutive cycles).

We will have a denomination change, 15% of the tokens is almost 6,750,000 SDN. Learn more about denominations here (https://forum.plasmnet.io/t/plm-token-redenomination/40). Some people who are not good at mathematics often misunderstand the concept of denomination. In terms of value, this doesn't affect the community and your token at all. Polkadot and even the European Union have implemented denomination changes. If you are interested, many examples can be found in our history (https://en.wikipedia.org/wiki/Redenomination).

PLATO is about to land on the blockchain game platform Formless: According to official news, the farm management game PlatoFarm governance token PLATO will be launched on the blockchain game platform Formless Launchpad at 22:00 on April 19. The Launchpad is divided into two rounds. For details, please refer to the official website.

The official stated that Formless aims to become "Steam in the GameFi field", linking games, guilds and players, and is committed to allowing the free circulation of game assets. PlatoFarm is a metaverse ecology with a farm theme and DAO autonomy. Users can become citizens of the PlatoFarm metaverse. [2022/4/19 14:33:54]

What is Kusama Parachain Auction?

PlanB: Bitcoin’s risk-adjusted return is better than all other assets: On November 30th, PlanB tweeted that Bitcoin’s risk-adjusted return is better than all other assets. [2021/11/30 12:40:06]

Shiden Network is one of the Kusama parachain candidates. Parachains connect to the Relay Chain through auctions to lease slots. In other words, we need to win the slot auction in order to rent parachain slots. After the lease period starts, we will deploy the mainnet on the acquired slots.

In order to collect KSM tokens as soon as possible, we chose to use Kusama’s crowdfunding mechanism to crowdfund slot rentals, KSM holders can help Shiden Network acquire slots by locking their own KSM tokens for 11 months. We will reward their contributions by providing SDN tokens.

Voice | V God said that Plasma is "basically ready": According to TrustNode's news today, Vitalik Buterin commented that Plasma, a major expansion plan of Ethereum, is "basically ready", but did not disclose the specific time plan. In addition, Vitalik also believes that after the Plasma deployment is completed, the legal digital currency can be launched on the Ethereum network immediately or in a short period of time. [2018/7/12]

After 11 months, the locked KSM tokens will be returned. Therefore, this is neither an ICO nor a direct investment. It's a pledge.

Shiden's Strategy

We will use 15% of the total supply (6,750,000 SDN) to bid for slots 1-8 (7 days x 6 weeks x 8 Leases = 336 days). Shiden is a community driven project and we are proud that it distributes a total of 65% of the tokens to community members.

After locking up KSM tokens, slot auction participants will automatically receive SDN tokens. Tokens will be locked for one month with a linear release of nine months. We will be launching a new incentive program and recommend everyone to join our crowdsale as soon as we start our campaign. The earlier you get involved, the higher the bonus.

PLO consists of "crowd lending" and "auction". We will be crowdfunding ahead of the auction. We strongly encourage KSM holders to participate in the PLO and join our crowdsale. The Plasm Network team will release more details prior to the actual auction.

More info

Before the auction, we created a crowdfunding campaign, set a maximum total loan amount and a campaign end date (maybe Lease 1-24), and invited community members to participate.

We still need to decide

Rewards for Early Participants

When will we start our crowd loan

Original Link: https://forum.plasmnet.io/t/rfc-kusama-parachain-auction-strategy/1058/1

Translation: PolkaWorld Community

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