Polkadot and Kusama are two rising blockchains with an thrilling characteristic generally known as parachains, that are customized blockchains chosen by public public sale to affix these unique networks. Whereas this novel choice course of has garnered quite a lot of pleasure, there may be nonetheless confusion as to the way it works.
In Kraken Intelligence’s newest report, “Polkadot & Kusama Parachains Primer,” our workforce takes a deep dive into parachain auctions and examines how people can earn rewards funding the subsequent era of blockchain initiatives on Polkadot and Kusama.
When coming into a parachain public sale, blockchain initiatives should bid for one of many 100 slots on the Polkadot and Kusama networks utilizing their very own DOT or KSM tokens, borrowing funds, or each. A “crowd mortgage” course of permits particular person crypto holders to lend, or “bond” their tokens to bidding initiatives, who in flip reward this assist with a brand new native token in the event that they win the public sale, or return the bonded crypto within the occasion they lose.
Kraken’s latest launch of a parachain public sale platform to simplify people’ participation in auctions has thus far seen important adoption. Current winners of slots on the Kusama community embody:
- Karura – The primary parachain public sale winner by the Acala basis which goals to be a scalable, all-in-one decentralized finance (DeFi) platform with minimal charges.
- Moonriver – A sensible contract platform that helps Ethereum decentralized purposes. It is going to function a canary community for Moonbeam.
- Shiden – A sensible contract platform for decentralized purposes. Shiden helps layer 2 options and serves as a analysis and growth canary community for Plasm (PLM).
- Khala – A canary community for the Phala community, Khala allows decentralized cloud processing and will open up prospects for privacy-protected DeFi buying and selling.
- Bifrost – Offers customers the power to stake any cryptocurrency on its platform. Customers are given a vToken after they stake crypto that offers them entry to DeFi purposes constructed on Kusama.
Learn Kraken Intelligence’s “Polkadot & Kusama Parachains Primer” to be taught extra about parachain auctions, how they work throughout the Polkadot and Kusama networks, and why they’re so vital to the expansion of the crypto ecosystem.
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