Gate.io has launched dedicated support for the Polkadot (DOT) and Kusama (KSM) parachain slot auctions, enabling users to seamlessly participate in these blockchain governance events. This initiative simplifies the process of locking up tokens to earn rewards while supporting preferred projects in the auctions.
Current Auction Status (Updated November 2021)
Kusama (KSM) 15th Slot Auction
- Start Date: November 15, 2021
Leading Project: Genshiro
- Total KSM Pledged: 35,283.7315
- Gate.io GENS Lock-Up: 273.244147 KSM
Polkadot (DOT) 2nd Slot Auction
- Start Date: November 18, 2021
Leading Project: Moonbeam
- Total DOT Pledged: 34.3965 million
- Gate.io GLMR Lock-Up: 41,448.544980 DOT
👉 Track real-time auction progress here
How to Participate in Gate.io's Slot Auctions
Step-by-Step Process
- Deposit or Purchase Tokens: Acquire KSM/DOT on Gate.io to join the auction.
- Select a Project: Choose a parachain project to support based on its proposal and rewards structure.
- Lock Tokens: Commit your tokens to the project’s auction pool.
Auction Outcome:
- If the project wins, you’ll earn rewards based on the on-chain annual interest rate.
- If the project loses, your tokens are returned without interest.
Key Rules
- Lockup Tokens: KSM or DOT only.
- Fees: Zero participation fees.
- Interest Distribution: Aligns with on-chain rates post-successful auction.
- Early Unlocking: Tokens are released immediately if unlocked on-chain.
Why Join Polkadot Parachain Auctions?
- Earn Passive Income: Receive project tokens as rewards for supporting winning bids.
- Governance Participation: Contribute to decentralized network expansion.
- Simplified Process: Gate.io handles technical complexities, offering a user-friendly interface.
👉 Start your Polkadot auction journey today
FAQs
1. What happens if my chosen project loses the auction?
Your locked KSM/DOT will be returned in full, but no interest is earned.
2. How are rewards calculated?
Rewards follow the on-chain annual interest rate set by the winning project.
3. Can I withdraw my tokens mid-auction?
No, tokens remain locked until the auction concludes or the project unlocks them early.
4. Is there a mobile app for auctions?
The web platform is currently available, with a mobile version coming soon.
5. What risks are involved?
Gate.io acts as an intermediary; users bear responsibility for project-related risks or on-chain issues.
About Gate.io
Gate.io is a leading cryptocurrency exchange providing access to innovative blockchain opportunities like parachain auctions.
Follow Us:
Note: All hyperlinks except the designated anchor text have been removed as per guidelines.
### Key SEO Elements Integrated: