Upcoming Five Parachain Auctions Scheduled for September


Upcoming Five Upcoming parachain auctions are planned for September after the success of the five past ones. Karura and Moonriver were among the triumphant projects.

The news was released yesterday about the five upcoming parachain auctions slated for September.

Kusama, being the “canary network” of Polkadot, includes a blockchain architecture composed of multiple chains. These “parachains” can have their unique tokens or economies and run parallel with the central broadcast channel.

Following the launch of the Statemine parachain, the first five parachain auctions of Kusama were conducted during June and July.

The top victor was Karura, the decentralized finance (DeFi) hub, followed by Moonriver, a multi-chain dApp layer, Shiden, a privacy infrastructure, and Bifrost, a multi-chain middleware platform.

The winners have already begun taking advantage of the opportunities that come with the parachain upgrade. Substrate parachains and providers are also involved in cross-chain collaborations.

All six parachains currently running on Kusama have been closely monitored for stability, performance, and maintenance. The core development team at Parity Technologies responsible for Polkadot and Kusama, sometimes faced delays in some areas, but the overall process of completion, including production and block approvals, was mostly smooth.

Having faith that the parachains won’t worsen the situation, Parity declared that the next batch of parachain auctions will take place in September. The sixth parachain auction is set to begin on the 1st of September at 12:00 GMT, with the winner being declared on the 8th. The seventh auction will start an hour later.

The auctions are for a single lease term. Participants bid for the KSM they would like to keep for the duration of the lease. Projects can use crowdfunding or their own offerings in order to fund their community.

Kusama provides a sandbox for Polkadot’s technology, and now that Kusama parachains are running smoothly, all audits have been done, and the parachain functionality is set to be enabled in Polkadot as well.

A date has not yet been set for when Polkadot parachain auctions will be held, however, the next Kusama auctions might be announced in the upcoming weeks if successful.

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