Kusama (KSM): Parachain Auctions are a GOLDMINE!! 🥇

Kusama (KSM): Parachain Auctions are a GOLDMINE!!

By Guy

👨‍🏫Kusama Recap👨‍🏫

Kusama was created by Dr. Gavin Wood as a way of testing Polkadot under real economic conditions. Unlike a regular testnet, Kusama exists as its own independent cryptocurrency In terms of tech, Kusama and Polkadot are basically identical. The two primary differences are that Kusama’s code is not audited, and all non-transaction related processes are 4 times faster on Kusama

🙋‍♂‍Parachain Slot Auctions Recap🙋‍♂‍

Regular parachains are acquired through the parachain slot auction process. Like regular auctions, parachain slot auctions involve bidding on a slot using money, in this case KSM or DOT tokens In contrast to regular auctions, the winner of a parachain slot auction is determined based on a snapshot that is taken at a random time shortly before the auction ends The difference between ICOs and parachain slot auctions is you never actually give your money or crypto. It just gets locked in the smart contract that connects that project’s parachain to the relay chain

⛓Prathreads, Common Good Parachains, And Parachains Roadmap⛓

The primary difference between parathreads and regular parachains is that parathreads can be shared by multiple projects which take turns producing blocks as needed Once Kusama’s first common good parachain has been up and running for a day or two with no major issues, Kusama will announce the start of its parachain slot auctions on its website and on Twitter

💱Parachain Slot Auction Process💱

As far as I understand, Kusama will be announcing its parachain slot auctions just over a week before the first one begins This is to give enough time for everyone staking KSM to unstake so they can participate in the first parachain slot auction. The KSM unstaking period is 7 days in case you’re wondering

🕵️‍♂‍How To Pick A Polkadot/Kusama Project For PLO🕵️‍♂‍

An easy way to keep track of which projects will be launching on Kusama is to use the Slot tab of the Polkaproject website. Just note that there are other Kusama projects that are not mentioned here Once you’ve identified a few Kusama projects that you think have potential, the next step is check what the terms and conditions are for their parachain loan offerings

👨‍💻How To Participate In Parachain Slot Auctions👨‍💻

To actually participate in Kusama’s parachain loan auctions, you need to have the polkadot.js browser extension wallet and use it with the Polkadot.js web app

📊KSM Price Analysis📊

It’s possible that the demand that will be created by parachain slot auctions on Kusama has already been priced in to KSM. Late adopters could still push up the price like mad when they begin however

👀Possible Parachain Problems👀

There are only two things that could take the wind out of Kusama’s wings and these are network issues and Polkadot’s own upcoming parachain slot auctions

~~~~~

📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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