The Rules for the Polkadot Parachain Slot Bidding Activity

328wXCuniINWak93wxterNR8xzPOENYO6NjtDOvc2.jpg

Pool-X now supports Polkadot's Parachain Slot Auction, helping Polkadot's ecological projects bid successfully! KSM and DOT holders can participate and get high rewards! 

Bidding Stages

Stage 1: Bidding Simulation. Pool-X simulates the official slot bidding so users can experience the process in advance and get benefits. More details.

Stage 2: Official Slot Bidding. It will start after Polkadot’s official announcement of the Parachain Slot Auction, so stay tuned!

Participation Methods 

1. Deposit/transfer KSM/Dot to your Pool-X account.

2. Log in and click “Participate Now” to support Polkadot projects you favored. (Web/App)

Bidding Process
1. Crowdloan Period
During this period, users can deposit/transfer KSM/DOT to their Pool-X account to participate. If you participate, your KSM assets will be locked.
2. Bidding Period
The Polkadot Parachain Slot Auction adopts the Candle Auction, which means the Slot Bidding will be conducted on-chain and will end randomly.
3. Lease Period
If the project you supported bids successfully, the staked assets will be locked according to the lease period. If not, the system will redeem the assets and distribute the Participation Reward.

Triple Rewards:
1. Participation Reward: All the participants can share.

2. Project Reward Pool: If the supported project successfully bids, all users who supported this project will share this reward pool provided by the project.

3. KuCoin Exclusive Reward Pool: If the supported project successfully bids, all users who supported this project can share the KuCoin Exclusive Reward Pool.


About Polkadot Parachain Slot Auction

The purpose of the Polkadot Parachain Slot Auction is to allow each parachain to enter the Polkadot Relay Chain, so that the parachains can enjoy the extremely high security of the Polkadot network and achieve cross-chain operations with other parachains. 

Risk Warning: Staking is a risk investment channel. Investors should be sensible in their participation and be aware of investment risks. The KuCoin Group is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. The KuCoin Group reserves the right of final interpretation of the activity.

Thank you for your support and understanding!

The Pool-X Team