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The Parachain Auction Feast is Coming How to Share the Polkadot Ecological Development Dividend?



On May 18, Kusama successfully deployed the Parachain Shell. According to the plan, if the Shell runs for 24 hours without any problems, the governance motion and referendum will be officially started. The vote will be made to upgrade the Shell to Statemine, and then the parachain slot auction will begin.

This also means that the parachain auction time of the Polkadot ecosystem is gradually approaching, and the impact on market sentiment may be imminent.

Parachains really reach the "last mile"

In fact, as early as March this year, the parachain test network Rococo V1 was successfully launched and running, which was the first step in the official opening of the Polkadot parachain slot auction process. It can be described as hopeless.

Until not long ago, on May 6, Polkadot released a new version Polkadot v0.9.0, which includes client changes that allow the parachain to run correctly, allowing everyone to see the dawn of the "last mile".

Immediately afterwards, on May 13, Polkadot Kusama announced on Twitter the upgraded version v0.9.1, which was approved by the Council for a referendum. This upgrade includes parachains, auctions, and crowdfunding codes. A minimum payout of 100x and a fee deposit of 50x means the Kusama slot auction is about to start.

The Polkadot DeFi platform Acala has completed the registration of the parachain ID 2000, and it is expected to open Crowdloan in 4 hours: According to news on November 5, according to Polkadot.js, the Polkadot DeFi platform Acala has completed the registration of the parachain ID 2000 (parachain ID1000-1999 is a public welfare parachain), and Crowdloan is expected to be opened in 4 hours, at which time DOT holders can start contributing DOT to Acala Crowdloan.

It is reported that the Acala team previously announced that it will take out 17% of the total amount of ACA tokens (170 million ACA) to bid for the Polkadot mainnet parachain slot, and users who participate in the Acala official website and Polkawallet can also get lcDOT 1:1 , lcDOT is a product that releases DOT bidding liquidity, allowing users to release liquidity after Acala goes online without waiting for DOT to be locked for two years. [2021/11/5 6:33:26]

And just past May 18, Kusama finally successfully deployed the Parachain Shell, which can be regarded as the realization of the Polkadot Statemint Parachain on the Kusama network. "The last mile".

Viewpoint: Polkadot’s parachain auction method has effectively supervised the project’s delivery of products: news on June 11, in the online live broadcast event of “Karura Summer Assembly - Focus on Kusama’s first parachain auction” co-organized by Acala, Karura, and Winkrypto , when talking about the real value behind the first parachain, Parity VP Fabian Gompf said: The most remarkable thing about Polkadot is that it is safer and more scalable. The bottom layer of Polkadot attracts developers to build high-quality projects, while the upper layer applications continue to Nurture the underlying construction, complement each other, and promote ecological prosperity and development.

Ruitao Su, co-founder of Acala&Karura, said: The difference between the parachain auction and the previous model is that the parachain auction method effectively urges the project to deliver products, and the pledged tokens will return to users. If Karura is lucky enough to succeed in the auction, core functions such as stable currency and staking will be released as planned. More uses in mortgages and transactions will also be gradually explored. Digital Renaissance Foundation Marketing Director Cao Yin said: One of the characteristics of the Polkadot ecology is that high-quality project parties are particularly united. Such an ecology is very exciting. At present, more than 10,000 users have participated in Karura Crowdloan, with a total lock-up volume of more than 280,000 KSM and a total lock-up value of 120 million US dollars, currently ranking first. [2021/6/11 23:31:57]

Kusama has launched the first public welfare parachain Statemine: the parachain Shell has been officially upgraded to the Statemine asset parachain, which means that the Kusama network has officially launched the first public welfare parachain statemine, and it is currently running stably. It is understood that through this public welfare parachain, the main network tokens, such as USDT, can be issued directly on Polkadot. (PolkaWorld)[2021/6/4 23:10:33]

Therefore, in the next six months, the long-silent cross-chain track may usher in its own highlight moment in 2021. According to the specific mechanism of parachain slot auctions, the prosperity of the Polkadot ecology cannot be separated from the access of a large number of parachains.

The main reason is that the successful auction of the slot to become a Polkadot parachain project will also be able to share the consensus and security of the Polkadot network, and be able to realize business sharing and interaction while realizing different business lines.

Parachain auction is a window to share dividends

Therefore, bidding for the first batch of slots will bring a certain first-mover advantage to the project, which is conducive to its later ecological construction, and it is also a high-profile publicity, which is conducive to building momentum for the project.

Clover Finance has been connected to the Rococo testnet as a parachain: According to official news, Clover Finance, the Polkadot ecological smart contract platform, has officially connected to the Polkadot Rococo testnet as a parachain. [2021/4/3 19:43:11]

This undoubtedly has great advantages for the project side, so the parachain slot auction is an unmissable feast for any project in the ecosystem.

As of May 19, according to the data of polkaproject, there are currently 439 various ecological projects on Polkadot, and they will undoubtedly need to participate in slot auctions in the future. Star projects such as Bifrost, Stafi, and Litentry have already Gearing up and publicly declaring that they will participate in the parachain slot auction.

So this gives ordinary investors a good investment opportunity: if we are optimistic about a certain project, we can lock your DOT to help them bid and help support their subsequent development.

Rococo has started the parachain slot auction test: Rococo has started the parachain slot auction test, and Phala and ChainX have already participated in the auction. Five projects including Phala, Zenlink, ChainX, and Acala have started Crowdloan. [2021/3/25 19:16:48]

It is different from the unpredictable risk of ICO that directly sends money to the project party, because the DOT in the slot auction is locked on the Polkadot relay chain, rather than directly given to the project party.

Therefore, if the user-supported project bids successfully, these DOT (KSM) will be returned after a lock-up period (maybe half a year to two years), even if the auction fails, DOT (KSM) will be returned shortly after the auction ends .

Then, as an ordinary holder, it is equivalent to owning an extra bonus without risk - lending DOT to the project party to participate in the auction, and the project party will allocate the corresponding project Token according to the number of pledges, so as to obtain the corresponding token of the auction project Token rewards.

In short, for our ordinary investors, the Polkadot parachain slot auction must not be missed. The parallel slot auction competition of more than 400 projects, along with the development of Polkadot ecology and WEB 3.0, is A good window of opportunity to participate and share the dividends of Polkadot's ecological development.

"One-Click" Auction Participation for AToken Wallets

For us ordinary investors, it is time to test our vision and investment discipline. However, although the parachain slot auction is a rare opportunity to participate in and share the development dividends of DOT and KSM, there are still certain thresholds:

On the one hand, the project party urgently needs a corresponding display platform to show users detailed information such as their vision, roadmap, and technical advantages, so as to "canvass votes", "show themselves", and actively "sell" themselves;

On the other hand, ordinary investors, as "hunters" who are actively looking for high-quality targets, do not have enough convenient entrances to directly participate in voting without worry;

With the opening of the parachain auction, the pain points have become more and more prominent. However, recently, AToken, as a decentralized wallet, has directly put a corresponding solution on its homepage - the ecological entrance PolkaInsight of "slot auction". , which not only helps project publicity and auction display, but also helps and guides users to "one-click" voting.

PolkaInsight has been integrated in the AToken wallet in the form of DApp, so the slot auction can be completed through the AToken wallet.

Before the slot auction, please confirm that the mnemonic backup of your AToken wallet is correct. For more information, you can consult the official customer service of AToken (wentixiaobaike or axianghuixiaozhushou).

Then enter the corresponding page as shown below:

In the polkainsight service of AToken, as shown in the figure above, there are currently three modules: "crowdshot", "observation area", and "item list".

Among them, the "observation area" includes the basic information of the current Polkadot ecology project (price, market value, etc.), and the "project list" is the specific panorama of each project (investment situation, project stage, project token, product advantages, etc.). The two modules are equivalent to the "information display area" provided for participating bidding projects, which is equivalent to a simple version of "Coingecko of Polkadot Ecology".

At present, the basic information of each project, such as the chain ID of the auction and the reward rules can be easily found, and the different airdrops and lock-up rules given to users by each project party are also very intuitive. An excellent display platform also saves a lot of time, energy and cost for users to obtain information.

The "crowd auction" module is the most direct entrance for users to participate in the auction. Take Bifrost, which has not yet started, as an example. After clicking in, it clearly lists the data that users need to pay attention to: such as the number of participants, the minimum amount of participation, airdrops, expected rewards, and so on.

That is to say, users can intuitively understand how to participate in the auction and the estimated income after participation, and can directly hold their KSM or DOT to "one-click" vote, and easily obtain rewards and share auction dividends.

At the same time, because AToken only provides the entrance to participate in the auction, in essence, it is still a direct personal operation on the chain, so the entire process of participating in the auction using AToken is actually a completely decentralized operation.

In a word, this product service of AToken can directly reach the auction site with one click, helping users to participate easily and directly, and share the dividends of parachain auctions.

At the first Polkadot community meeting on December 3 last year, Gavin Wood proclaimed "Make blockchain great again (make blockchain great again)".

Now the parachain slot auction is not only a key milestone in the development of Polkadot in 2021, but it is also likely to be a rare bonus opportunity for our ordinary investors and the entire industry. Let us look forward to it and grasp it together.


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