Darwinia Crab’s Kusama Parachain Auction
Darwinia’s Crab Network is going to participate in the Kusama Parachain Slot Auction.
Kusama is a multi-chain network. Parachains can be accessed through slots. Parachains and Kusama jointly form an interoperable blockchain network. Kusama guarantees the security of the entire network, while parachains provide a variety of capabilities for the entire network. All parachains must participate in the parachain auction to obtain the right to rent a slot.
The Crab network needs to crowdloan enough KSMs to win the parachain auction. Crab Network chooses to crowdloan KSMs in a trustless way. During Crab’s parachain lease, these KSMs will be “locked” in the Kusama Crowdloan.
KSM holders lock their tokens in the Crowdloan for a period of time (48 weeks) to help Darwinia Crab rent a slot. In return for these KSM holders, participants will receive CRING, RING, NFT, BTC as rewards.
Crab PLO Strategy
- Bidding Period: Considering the first few parachains to connect may experience stability issues, they plan to begin bidding for a slot in the 4th round.
- Range: Lease periods on Kusama are 6 weeks long and we will bid for a block of four, making their lease duration 6 months. The longer lease duration will ensure long-term stability of Crab network.
PLO Rewards
They have set aside 25% of CRING and 1% of RING token supplies for Kusama PLO over the next 10 years.
In addition, Evolution Land NFT rewards (land, chests, apostles) on the Columbus continent launched on the Crab network and Dawning continent launched on Heco Chain will be provided to supporters after successful bidding.
Their super jackpot is 1 BTC, and one lucky user will find this BTC when they claim their land.
What is Darwinia?
Darwinia is an open cross-chain bridge protocol based on Substrate, Darwinia focuses on the construction of future Internet of Tokens.
What is Crab Network?
Darwinia Crab Network (Crab for short) is the canary network for Darwinia. It is the first cross-chain NFT blockchain in the Polkadot ecology and provides the smart contract solution. Crab is going to participate in the Kusama Parachain Slot Auction.
What is Kusama?
Kusama is a scalable network of specialized blockchains built using Substrate and nearly the same codebase as Polkadot. The network is an experimental development environment for teams who want to move fast and innovate on Kusama, or prepare for deployment on Polkadot.
📰 INFO:
https://darwinianetwork.medium.com/darwinia-crabs-kusama-parachain-auction-strategy-3f37cbfdfe4
