KILT Proves Dominant in Auction Six! 🏆 | Parachain Auctions Podcast

Ingo Rübe from Kilt Protocol joins our host Brian after an epic win during the sixth Kusama parachain auction.

Listen in as Ingo tells us about how they reached their crowdloan cap during the auction, their plans for launch, and the upcoming celebrations for the team.

Recorded September 8th, 2021
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🤔 What are Parachains? 🤔
Parachains are custom blockchains that are integrated within the Kusama network. They can be customized for any number of use cases and feed into the main blockchain and heart of its network, called the Relay Chain, thus benefiting from Kusama’s network security.

📚 Parachain slot auctions take advantage of Polkadot and Kusama’s ability to give developers ways to create new crypto assets and decentralized applications (dapps) on top of its blockchain.

📝 Importantly, only 100 parachain slots are expected to be available, a number that is flexible and subject to change by governance vote over time. To claim one of these slots, the parachain projects have to win a parachain slot auction.

📷 For Kusama auctions, the project with the most KSM bonded to support its bid, at the time the auction snapshot is taken, will generally be able to claim the auctioned parachain slot.

📣 Projects may, in their discretion, give rewards to contributors who support their winning bid.

📌 If the auction is lost, the KSM bonded by contributors may be re-claimed at the end of that project’s specified campaign duration, which may last for one or more auctions.

👨‍💻 Where to learn more about Parachain Slot Auctions:
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#KILT #polkadot #kiltprotocol #web3 #polkadot #parachainauctions #DOT #auctions #para #web3foundation #KSM #KILT #BOTLabs #IngoRübe
The following information is provided to you for your convenience and for illustrative purposes only. It is provided by a third party (“Candidate”), not Kraken. It may be wrong and is subject to change.

Kraken does not guarantee, and does not assume any responsibility for, the acts or omissions of Candidate, the performance of their products or services, or the performance of the Kusama network.

Kraken does not recommend that you support, and does not endorse, Candidate or any other Parachain Slot Auction participant, or Parachain Slot Auctions in general.

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