polkadot and kusama sidechain auctions

Discussion in 'Digital Currencies' started by dozerz, Sep 7, 2021.

  1. dozerz

    dozerz Well-Known Member Silver Stacker

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    kusama is the testnet for polkadot, everything that gets released into polkadot must first go via kusama.

    kusama is a test ground and has less strict rules but highly experimental and unstable, eg staking is revoked over in 7 days compared to 28 days on polkadot.

    sidechain auctions are about half way through for kusama, effectively you are lending your kusama to the sidechain for x time and will be rewarded with sidechain tokens. karura has completed and the first sidechain to go live https://apps.karura.network/earn

    https://polkadot.network/kusama-parachain-auctions-second-batch/

    get a wallet here polkadot.js.org

    same auctions will be starting on polkadot soon a good time to get prepped. probably a steep learning curve but expect it to be worth your while.
     
  2. dozerz

    dozerz Well-Known Member Silver Stacker

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  3. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    How do you keep ahead of all of this? Do you even sleep? :p

    I may have to chat with you, but I'm sprinting to keep up with you and @Stoic Phoenix as it is! o_O
     
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  4. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

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    Do you think that Acala is the one to run with or hit Moonbeam or possibly dive into both
     
  5. dozerz

    dozerz Well-Known Member Silver Stacker

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    moonriver was a clear winner on kusama and many expect it to do the same.

    this is a handy link to watch the auctions in real time, you can also still try on kusama as auctions have continued.

    https://parachains.info/auctions#tab-network-polkadot

    you can see moonriver returned $6131 per kusama, because it followed its name and mooned :)

    expect acala and moonbeam to be the top picks as they have build successful platforms but anything can happen in crypto.
     
  6. dozerz

    dozerz Well-Known Member Silver Stacker

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    hmm just noticed the lockup is 96 weeks, thats a long time in crypto.
     
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  7. AussieHODLer

    AussieHODLer Member

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    I wouldn’t mind having a chat with you at some stage, if you don’t mind. I’d like to crowdloan the moonbeam project, I just have to read a few more things to try and get my head around it all.
     
  8. AussieHODLer

    AussieHODLer Member

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    I definitely agree with you about 96 weeks being a long time, is that just for 70% of rewards with 30% being available after successful launch?
     
  9. dozerz

    dozerz Well-Known Member Silver Stacker

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    no worries happy to help, binance now opened their own interface and run a qa
     
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  10. dozerz

    dozerz Well-Known Member Silver Stacker

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    ok acala have made it super easy if you want to contribute to their crowdloan. your dots are still locked for 2 years but you get icdots that can be pretty much used as dots for staking and trading.

    20% aca is unlocked at launch and the rest vested and released over 2 years.

    once you have the polkadot wallet installed and dots you can just click through, theres 2.5 days left for a 5% bonus, we both get 5% for using my referral link.

    i just deposited mine

    I just contributed to the @AcalaNetwork Crowdloan to get my piece of the Ethereum-compatible DeFi and liquidity hub coming soon to @Polkadot. Join now to get a 5% ACA bonus when you contribute! https://acala.network/acala/join-ac...93e6f8419559107a513209fc070ef6a5c196711e83b07
     
    crewy and mmm....shiney! like this.
  11. dozerz

    dozerz Well-Known Member Silver Stacker

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    moonbeam just returned 2x of all the dot loaned and unlocked 25% of the moonbeam tokens, did anyone end up doing this?
     
  12. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

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    No i went with Acala, and used all my dot on them, knew i should have gone with Moonbeam. Pretty good return for those that stuck by Moonbeam
     
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  13. dozerz

    dozerz Well-Known Member Silver Stacker

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    acala will still be good, but moonbean has some early killer apps and returns. worth buying some and farming at https://solarflare.io/
     
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