PARACHAIN AUCTIONS - EXPLAINED SIMPLY

⚠️ PARACHAIN AUCTIONS ARE HERE! ⚠️ 👇 👇 👇 👇 👇 👇 👇 📣Join Brian Hoffman, Crypto Platform Product Lead at Kraken and Dan Reecer, VP of Growth at Acala and Karura. Dan has previous experience at Web 3 foundation where he worked on the launches of Kusama and Polkadot. 📣 🤔 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: 👉 Kraken Learn: https://www.kraken.com/en-gb/learn/parachain-auctions 📌 Kraken Blog: https://blog.kraken.com/post/9438 📜 Kraken Support Centre: https://support.kraken.com/hc/en-us/articles/360060824412 ----------------- 00:00 Intro 1:35 Kusama Polkadot 2021 8:57 Parachains better than ICOs 20:53 Winning a parachain slot auction 27:10 If a team doesn't win the auction? 33:10 How to participate in parachain slot auctions ------------------ 📱 Follow Dan Reecer 📱 Twitter: https://twitter.com/danreecer_ Twitter: https://twitter.com/AcalaNetwork ------------------------------------------------------------------- 📲 Kraken App 📲 🏦 Connect your bank account to buy crypto instantly! 📅 Buy or sell on the go, 24/7/365 📊 Track crypto winners and losers, most popular, top gainers and more 💰 Invest as little as $10 😲 Get started in minutes ! 👉 Download now! 📱 For iOS: https://apps.apple.com/us/app/id1481947260 📱 For Android: https://play.google.com/store/apps/details?id=com.kraken.invest.app #Kusama #parachains #KSM #polkadot #parachainauctions #DOT #auctions #para ---------------------------------------------------------------------------------------------------------------------------------------------------- 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. These matters may relate (but are not limited) to: (i) any aspect of the Parachain Slot Auction process, such as its operation, outcomes, or functionality; (ii) any aspect of a Candidate’s Parachain Slot Auction bid, such as its success or failure, or whether the corresponding parachain network will be launched, functional, or deemed satisfactory or successful; (iii) the amount, functionality, value, or date of delivery of rewards for participation in a parachain slot auction; and (iv) your ability to reclaim any KSM you contribute in a Parachain Slot Auction. 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. Before participating in a Parachain Slot Auction, you must understand the risks and determine that such participation is appropriate for you. See our Terms of Service for more information. ------------------------------------------------------------------------------------------------------------------------------------------------- Parachain Auctions, Kusama parachain auctions, parachainauctions, Polkadot, KSM, DOT, crypto, bitcoin, crypto currency, staking, unbonding, bonding, parathreads, relay chain, Parachain Auction Platform, Dan Reecer, Brian Hoffman, simple, Relay Chain, blockchain development, developer, co-founder, cofounder, decentralized, web3, Web 3, Parity, Parity technologies, Kraken, crowdloan, crowdfund, 2021, gavin wood, parachain auctions podcast, parachain podcast,