Wednesday, May 29, 2024

Polkadot announces the second batch of 5 Parachain auctions.

Polkadot’s Canary network has followed the success of its first 6 parachain auctions with an announcement of the details for its following five auctions. Kusama is all set to schedule the following 5 parachain auctions on its network according to the materials sent to CryptoPotato.

Auction dates

According to the current recommendations, the dates for these auctions are as follows:

1. 1st September 2021, 12.00 GMT- Commencement of 6th Kusama Parachain Slot and bids can be placed.

2. 3rd September 2021, 9.00 GMT- Auction ending period starts for 6th Kusama Parachain Slot. Only bids that are made before this will be taken into account in the final outcome. Bids made after this point have a reducing possibility of being considered.

3. 8th September 2021, 9.00 GM- Auction bidding ends for the 6th Kusama Parachain Slot. Bids cannot be made on the auction after this point.

4. 8th September 2021, 11.00 GMT- Auction winner chosen for 6th Kusama Parachain Slot. The winner of the auction is regarded as the highest bidder based on randomly chosen points over the past 5 days.

5. 8th September 2021 12.00 GMT- Auction commences for 7th Kusama Parachain Slot.

6. 15th September 2021 12.00 GMT- Auction commences for 8th Kusama Parachain Slot.

7. 22nd September 2021 12.00 GMT- Auction commences for 9th Kusama Parachain Slot.

8. 29th September 2021 12.00 GMT- Auction commences for 10th Kusama Parachain Slot.

The aim of this schedule is to make sure that the Kusama community members have adequate time to unstake KSM for the auction bids. The goal is also to make sure they participate in the crowd loans.

These auctions will start within a 2-day period back-to-back from the date of the initial bidding. It will be followed by an ending period of 5 days. It is precisely how the initial auctions were conducted.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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