The Kusama network has successfully concluded its 8th parachain slot auction and promptly initiated the 9th, marking another significant milestone in the ecosystem's expansion. This continuous auction process underscores the robust activity and growing participation within the Kusama relay chain environment.
Completion of the 8th Auction and Winner Announcement
On September 22 at approximately 17:13, the 8th parachain slot auction on the Kusama network came to an end. This was followed by a 15-minute random "verification phase" to determine the final winner. Around 17:28, Basilisk was officially declared the victor, having locked nearly 222,222 KSM tokens to secure the slot. Within two hours of winning, Basilisk was scheduled to connect to the Kusama relay chain and begin producing blocks as a parachain.
Initiation of the 9th Parachain Slot Auction
Shortly after the conclusion of the previous auction, the Kusama Council voted to pass Motion 358 at 17:52, officially initiating the 9th parachain slot auction. The auction began immediately, with several prominent projects competing for the slot.
As of the time of writing, Altair, the canary network of Centrifuge, is leading the bidding with 120,987 KSM locked. It is closely followed by Heiko, the parallel chain of Paralle, with 108,281 KSM, and Kintsugi, the testnet of Interlay, with 42,781 KSM.
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Overview of Current Kusama Parachains
To date, the Kusama network supports nine active parachains. These include Statemine, a common-good parachain allocated via governance, and eight auction winners: Karura, Moonriver, Shiden, Khala, Bifrost, KILT, Calamari, and the newly added Basilisk.
The variety of projects reflects the diversity and utility of the Kusama network, offering a range of functionalities from decentralized finance to privacy-focused applications.
Network Participation and Token Locking Statistics
Crowdloan activities across all Kusama parachains, including both completed and ongoing auctions, have locked approximately 2,124,300 KSM tokens. This represents about 18.46% of the total KSM supply.
Meanwhile, the staking ratio has decreased to around 42%. When combined with the tokens locked in crowdloans, the total proportion of locked KSM in the network reaches 60.46%. This indicates strong community involvement and a healthy level of network security.
Future Auction Schedule and Network Observations
It is important to note that the current round of Kusama auctions consists of five slots. After the conclusion of the 9th and 10th auctions, the network will pause to observe stability and performance. This break will allow developers and validators to ensure the network remains secure and efficient before the next round begins.
This measured approach highlights the priority placed on network health and long-term scalability.
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Frequently Asked Questions
What is a parachain slot auction?
A parachain slot auction is a event where projects bid using native tokens to secure a slot on a relay chain. Winning allows them to connect their blockchain to the network, benefiting from shared security and interoperability.
How does the random 'verification phase' work?
The random verification phase is a brief period after the auction ends where a decentralized randomness mechanism determines the final winner. This ensures fairness and prevents last-minute bidding manipulation.
What happens after a project wins a slot?
After winning, the project integrates its parachain with the relay chain. This allows it to start producing blocks, communicate with other parachains, and fully participate in the ecosystem.
Why does the network pause after several auctions?
Pausing allows developers to monitor network performance, stability, and security. It ensures that the infrastructure can handle the increased load before adding more parachains.
What is the difference between Kusama and Polkadot?
Kusama serves as a canary network for Polkadot, meaning it is a faster-paced, less conservative environment for testing new technologies and governance models before they are deployed on Polkadot.
Can tokens locked in crowdloans be unstaked?
Tokens locked in crowdloans are typically bound for the entire lease period, which can last up to 48 weeks. They are released back to contributors only after the lease expires.