KuCoin Will Support the Second Batch of the Kusama Parachain Slot Auction
08/25/2021, 16:00:23
Dear KuCoin Users,
KuCoin will officially support the second batch of the Kusama Parachain Slot Auction, taking place at 12:00:00 on September 1, 2021. Users can stake KSM to participate and support their favored Polkadot ecological project! (All times in this announcement refer to the UTC time zone)
Participation Methods
1. Deposit/transfer KSM to your Pool-X account.
2. Log into your account and click “Participate Now” to support Polkadot projects you favor. (Web)
Rewards:
1. On-Chain Rewards: If the supported project successfully bids, all users who supported this project will share this on-chain reward pool. The amount of the rewards is subject to the announcement of the project party.
2. KuCoin Rewards Pool: If the project provides an additional rewards pool, once the bidding of the assisted project is successful, all users who participate through KuCoin to support the project can share the rewards pool.
The details of the supported projects and rewards are as follows:
| Projects | On-Chain Rewards | KuCoin Rewards Pool |
| SherpaX | KSX | 5,000 KSX |
| Altair | AIR | 50,000 AIR |
| Genshiro | GENS | 1,200,000 GENS |
| Sakura Finance | SKU | 185,185 SKU |
| Calamari Network | KMA | / |
| PolkaSmith | PKS | / |
| KILT | KILT | / |
* Reward calculation method: (user’s staked amount of KSM / total staked amount of KSM) * corresponding reward pool
Notes:
1. After participation, Pool-X will synchronize the data to the chain. The confirmation on the chain will take some time. Please go to your Pool-X Account > Assets > Lockup History > click "Details" to check whether the participation was successful.
2. If the bidding of the supported project is successful, the KSM assets participating in the bidding will be locked until the slot lease period is over, and the locked assets will not generate staking profit. If the bid of the supported project fails, the staked KSM will not be automatically returned until the end of the project Crowdloan period.
3. The slot is bid on in the Candle Auction. The slot auction will be completed on the chain and will be terminated randomly. Please pay attention to the auction results in time.
4. KuCoin only serves as the platform to provide users with services for participating in the auction, and does not bear any financial losses caused by the project party or the security of the chain.
5. Please visit the Pool-X official website for the follow-up supported projects and details.
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 KuCoin Team
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