Following the success of its first six parachain auctions, Kusama – Polkadot’s Canary network, goes ahead and announces the dates and details for the next 5 auctions.
According to materials shared with CryptoPotato, Kusama will schedule the next five parachain auctions on its network.
The dates for them, as per the current recommendations, are as follows:
The idea of the schedule is to enough members of the Kusama community enough time to: first unstake KSM for their auction bids and second – to participate in the crowd loans.
The auctions will commence back-to-back with a two-day period of the initial bidding, which will be followed by a five-day ending period – this is how the first auctions were done.
The first five auctions on Kusama were held in the period between 15/06/2021 and 20/07/2021.
According to an economic overview of the first five auctions, there was massive competition between the participants. A whopping 80% of the surveyed teams intend to be live on both Kusama and, further down the road – on Polkadot.
The auctions saw 18 registered crowd loans to participate and received funding from 19017 unique accounts.
The types of interested projects covered a broader part of the industry, including DeFi infrastructure, liquidity solutions, smart contracts (both native and EVM-compatible), confidential cloud computing, and so forth.
A total of 1,320,458 KSM was contributed, where 1,114,629 KSM is locked until May 13th, 2022. 47% of the tokens are locked in staking.
It’s also important to note that many of the parachain slots were overpaid for – this is considered good because it means more tokens get distributed, increasing the value of the project to the market.