Crust Network has presented Kusama Parachain Auction Plan

On April 7, Kusama announced the details of the Kusama parachain slot auction (https://kusama.network), signaling the parachain slot auction process is nearing the launch stage and will start the auction process after the successful launch of the public benefit parachains. Learn about how KSM holders can participate in the auction process, rewards they will receive, and claiming rewards.

The Crust parallel network is named ‘Shadow’.

The Crust parallel network ‘Shadow’ will participate in the Kusama parachain slot auction. As a bridge using Kusama parachain resources, Crust Shadow is responsible for the exchange of information between the Kusama parachain and the Crust Network (mainnet).

Crust Network will participate in the Polkadot parachain slot auction in the near future, and strive to access parachains to bridge the information exchange between Kusama and Polkadot through parallel net Crust Shadow.

Contributors

Once Kusama formally launches the parachain auctions, Crust will launch a Crowdloan on Kusama. The Kusama-native crowdloan mechanism does not require users to send KSM from their wallet/account to a third-party address to participate. Native crowdloan contributions are made with a special transaction in Kusama using what’s called a campaign index, where contributed KSM remain locked until the end of the lease period.

To participate in a parachain auction, there are two options:

1. For the Kusama-native crowdloan, you can follow the instructions given by Kusama, Crust also has a detailed tutorial for everyone to follow.

2. To participate in an auction organized by an exchange, wallet application or other third party organization, you need to follow the instructions of the third party.

About Kusama Parachain

Kusama is a canary network for Polkadot. It enables developers to build and deploy a parachain or experiment with Polkadot’s governance, staking, nomination and validation functionality in a real environment.

About Crust Network

CRUST provides a decentralized storage network of Web3.0 ecosystem. It supports multiple storage layer protocols such as IPFS, and exposes storage interfaces to application layer. Crust’s technical stack is also capable of supporting a decentralized computing layer. It is designed to build a decentralized cloud ecosystem that values data privacy and ownership.

📰 INFO

https://medium.com/crustnetwork/kusama-parachain-auction-plan-crust-network-5335996621f6