Polkadot's Kusama Shares The Schedule of Next Parachain Auctions, Summarizes First Results

Polkadot's Kusama Shares The Schedule of Next Parachain Auctions, Summarizes First Results

The team of Kusama, Pokadot's "canary network" has shared the details of its first five parachain auctions. Here's who participated in the first bidding — and who is going to compete for the parachain slot in September.

First five slots on Kusama are booked

According to a press release shared with U.Today, the teams of Kusama (KSM) and Polkadot (DOT) analyzed the feedback from engineers, participants, and the community after the first five parachain auctions and evaluated the indicators of network performance.

Kusama representatives admitted that the competition between the teams was "fierce." 80 percent of the participants were interested in launching their designs on both Polkadot and Kusama. 18 crowdloans alongside 19,017 unique accounts took part in the first five parachain slot auctions campaigns.

Out of the 1,320,458 KSM tokens contributed, 1,114,629 KSM tokens were locked until May 13, 2022. 47 percent of the tokens were locked in staking. As such, private accounts contributed almost $450 million in equivalent.

Mostly, the applicants addressed the segment of DeFi infrastructure, liquidity providing solutions, smart contracts (for both non-Ethereum and EVM-compatible blockchains), secure cloud computing, and so on.

Five auctions will take place in September

In addition, the Kusama team shared some interesting observations about the next steps of its parachain module. For instance, parachains might evolve into decentralized autonomous organizations (DAOs). Then, Bitcoins (BTC) and Ethers (ETH) can be accepted for bidding in the next rounds.

Kusama (KSM) engineers noticed that the majority of slots were overpaid, which signals great interest in using Kusama's architecture:

This was good because then more tokens get distributed and value of the project increases to the market

The sixth parachain slot auction on Kusama will start on Sep.1, 2021. In total, five biddings will take place before Sep. 29.