The second batch of five parachain slot auctions on Kusama officially began on September 1st. A total of 16 projects are currently participating in the crowdloan campaign. Below, we highlight several notable projects—along with their auction strategies—to help you better understand the opportunities.
KILT Protocol
KILT Protocol is a foundational protocol designed for decentralized trust transmission in the Web3 era. It enables the creation of "verifiable digital credentials" through a unique on-chain verification mechanism while preserving user data sovereignty. By leveraging zero-knowledge proof technology, it also allows selective disclosure of credentials. KILT aims to build a unique "trust economy" that provides incentives for trust transfer across borders.
- Note: This project has already reached its KSM crowdloan target and is no longer accepting contributions.
Kintsugi (by Interlay)
Kintsugi serves as the canary network for Interlay, which focuses on bringing Bitcoin to other blockchains. Kintsugi will host interBTC, a censorship-resistant and interoperable asset fully backed 1:1 by Bitcoin. interBTC will connect Polkadot with networks like Cosmos and Ethereum.
As a live testing ground, Kintsugi will run a few versions ahead of Interlay and include more experimental features.
Auction Strategy
- Target Slot: 6–10
- Lease Period: 8 periods (~48 weeks)
- Maximum KSM Lock: 200,000 KSM
Rewards:
- 10% of the total KINT supply (1 million KINT) over the first four years will be airdropped to crowdloan participants.
- Early-bird bonus: 5% extra for participants who stake within the first three days.
- Referral bonus: 5% bonus for you and anyone using your referral link.
- Bonus for reaching KSM lock milestones: up to 100,000 KINT in extra rewards.
An additional 2% of KINT (200,000 tokens) will be airdropped to participants who operate Vaults and mint kBTC once Kintsugi goes live.
👉 Explore advanced staking strategies
Calamari Network (by Manta)
Calamari is the canary network for Manta Network, a privacy-focused project within the Polkadot ecosystem. Once it wins a slot, Calamari plans to provide on-chain privacy services for the entire Kusama DeFi network. Its initial products will include MariPay for private payments and MariSwap, a private AMM DEX.
Crowdloan Plan
Calamari is competing for the 6th slot and aims to secure an 8-period lease (48 weeks). The project has allocated 30% of the total KMA supply (3 billion tokens) as rewards. Each KSM staked will yield 10,000 KMA. Early contributors (1–500) receive a 10% bonus, and those in positions 501–1000 receive a 5% bonus.
- Note: The project paused rewards after reaching 100,000 KSM staked. Rewards may resume after September 7th based on auction progress.
Basilisk (by HydraDX)
Basilisk is the canary network for HydraDX. It is a cross-chain liquidity protocol designed to serve the various stages of a crypto asset's lifecycle. Newer assets can bootstrap liquidity on Basilisk before graduating to HydraDX’s omnipool.
Crowdloan Plan
Basilisk has allocated 15% of its total BSX supply (15 billion tokens) for crowdloan rewards. It aims to secure a 48-week lease.
- This project is considered a strong competitor after nearly winning the 5th slot in the previous round.
Altair (by Centrifuge)
Altair is the canary network for Centrifuge, a platform that allows users to tokenize real-world assets and use them as collateral for financing via Tinlake.
Auction Plan
AIR tokens will be distributed 1:1 to CFG holders based on a genesis snapshot. For crowdloan participants, each KSM staked will yield roughly 400 AIR. The final amount will depend on the number of participants and the final auction price. 25% of rewards are unlocked immediately, with the rest vesting linearly over the lease period.
Parallel Heiko
Parallel Heiko is a DeFi-oriented parallel chain candidate. It has set a crowdloan cap of 400,000 KSM and allocated 25 million HKO as rewards.
If the cap is reached, each KSM will receive at least 62.5 HKO. If not, rewards per KSM will be higher. HKO rewards will vest linearly over one year once the chain goes live.
- Only 2.5% of the total token supply is allocated to this crowdloan. Participants should evaluate carefully.
Frequently Asked Questions
What is a parachain slot auction?
Parachain slot auctions are events where projects on Kusama or Polkadot bid to secure a slot that allows them to operate as a parallel chain. These slots are leased for a fixed period, usually 48 weeks on Kusama.
How can I participate in a crowdloan?
You can contribute KSM to support your favorite projects through official crowdloan platforms or designated third-party interfaces. Your KSM will be locked for the duration of the lease, and you will receive native tokens from the project as a reward.
Is my contributed KSM at risk?
Your KSM is not sold; it is locked for the lease period and returned to you once the lease ends. However, you should only participate through official channels to avoid phishing scams.
What happens if a project doesn’t win a slot?
If a project fails to win a slot, your KSM will be returned to you without any rewards.
Can I unstake my KSM early?
No. Once you contribute to a crowdloan, your KSM is locked until the end of the lease period. Early withdrawal is not permitted.
Which projects are the most promising?
This depends on your risk tolerance and interest. Projects like Kintsugi, Calamari, and Basilisk have drawn significant attention due to their technological proposals and reward structures. Always do your own research.
👉 Discover more about crowdloan participation
Final Thoughts
The second round of Kusama parachain auctions offers a variety of innovative projects. Kintsugi, in particular, stands out due to its approach to Bitcoin interoperability and attractive reward model.
We encourage everyone to research each project thoroughly, visit their official websites, and only use official channels for participation.