Kusama Parachain Auction Live AMA Recap
hello everyone, this is Irene. CMO of Konomi Network. The most anticipated Kusama Parachain auction is finally going to kick-off!
Today I’m so glad to have 3 Polkadot star projects: Crust, Darwinia and Phala for this joint live AMA, they will be participating in the Kusama Parachain auctions.
Although Konomi is not taking part in the Kusama Auction, we will be treating this as a learning process to prepare for the upcoming dot auction, which we WILL take part in.
Let’s get right into it and see what our guests have to say about their own projects and strategy! And I’m sure we are going to learn a lot from them! Also, Darwinia will be giving out. 10,000 rings for today.
1:Before we start, Crust, Darwinia, Phala, Please briefly introduce yourself and your projects?
Darwinia is a decentralized bridge chain built on Substrate，providing the safest heterogeneous cross-chain solutions，connecting Polkadot，Ethereum，BSC and different blockchain networks！
Phala Network is a privacy-preserving cloud computing service, based on Substrate, and will run as a parachain in the Polkadot ecosystem to offer computing power comparable to existing cloud services but which protects the privacy of managed programs. Based on TEE-Blockchain Hybrid Architecture, developers can deploy confidential smart contracts running inside TEE Enclaves in CPUs.
Crust Network is a decentralized storage application developed based on the Polkadot substrate framework and provides an incentive layer for IPFS storage nodes. Compared with many other blockchain applications, our functions are easier to understand. Everyone should have used some cloud products. Crust and these cloud products provide similar services. Users can use Crust to store their own files and transfer with others. our users can be individuals, companies, organizations.
So how are we different from traditional cloud vendors? Traditional cloud vendors have their own large centralized computer rooms to store data centrally for users. Crust is more like a form of “sharing economy”. We do not provide storage space. The storage space is provided by Crust nodes. The Crust public chain bridge the gap between nodes and users, and is responsible for scheduling users’ orders. Then pay salaries to the nodes. As a result, users’ files are “distributed” and stored on nodes all over the world, rather than being controlled centrally. In addition to security, distributed storage can also bring users a lower price.
2.Thanks for the introduction. We have collected some questions from the community. And I believe our three guest speakers today are ready address them！
So the first. question for today, The Kusama Parachain auction has announced its schedule. Crust, Darwinia, and Phala，What are some highlights of your PLO rewards? I'm sure our community are keen to know.
3. thank you so much for sharing. with us the strategies you gonna use. so we all know that technology is fundamental for every project. In terms of technology, Crust, Darwinia and Phala, what have you prepared for the Kusama parachain auction?
Crab is the Canary network of Darwinia and it has been running for a year.
Crab Network Features
- Providing smart contract solutions
Crab Network DVM is compatible with the Ethereum virtual machine, and supporting Dapps such as Defi and NFT to easily migrate to Polkadot and Pangolin testnet.
- Cross-chain interoperability
Relying on the innovative bridge technology of the Darwinia Network, it also provides an entrance to the Polkadot ecology for projects that have been deployed on public blockchains such as Ethereum and BSC.
- Evolution Land Crab Continent GameFi system
The new continent of Darwinia ecosystem cross-chain game Evolution Land has been deployed on Crab, will soon launch the new NFT+Defi GameFi system.
- Upgraded User Experience
Low gas fee + support NFT cross-chain transactions
Khala Network is the Phala pre-mainnet on Kusama, as published on the roadmap last year: Phala will implement its mainnet on Polkadot, as the Parachain to serve enterprise-scale blockchains and DeFi service. Khala will implement its mainnet on Kusama, as the Parachain to serve creative and growth blockchains and DeFi service.
Literally, our strategy can be summarized in 8 keypoints.
- Phala Network will launch pre-mainnet Khala Network on Kusama (mainnet Phala will follow on Polkadot.)
- Khala Network’s native token will be K-PHA, which is PHA on Khala. No new tokens are being created. K-PHA can be swapped with ERC20-PHA (and with PHA on future mainnet) at a 1:1 rate.
- Khala Network will join the Kusama slot auction when the second slot is released. Khala will bid for an 8-period slot, which means Khala will lease the slot for 6 * 8 = 48 weeks.
- Every KSM that supports Khala in the Kusama slot auction through the Crowdloan will be entitled to 100 PHA as rewards (PHA: KSM = 100:1). The fixed reward ratio for the Crowdloan is intended to provide each participant a full 100 PHA per KSM, regardless of how many KSM is raised.
- There are 15,000,000 PHA set aside for rewards on Kusama auctions. Based on the above ratio, when the KSM in the Khala Crowdloan reaches 150,000, there is no more PHA that can be distributed to contributors.
- When Khala wins a slot and runs as Parachain successfully, 34% of the PHA in the reward pool will be vested to contributors’ addresses immediately. The remaining 66% will be vested monthly over 11 months.
- There is an additional reward available for Referrals. If a Crowdloan participant invites an additional participant who makes an additional contribution, they will each receive an additional reward: an extra 0.5% on the additional contribution.
- Khala will also leverage the on-chain dApp deployed by the Phala team and several top centralized exchanges’ collaboration channels to participate in the Kusama slot auction.
Additional, Khala Crowdloan Dapp launched on June 11. Users who successfully stake before June 22 will receive an additional NFT, an early bird bonus offered by Khala in partnership with RMRK, which can be used to receive an additional 1% PHA bonus on the staking amount once Khala goes live.
Crust closely followed up on all the technical updates of Polkadot and Substrate. I believe that the other two guests are the same; Crust also connected to Polkadot’s latest Western test network;
in addition to these, Crust developed a set of cross-chain storage modules, The cross-chain application can be launched as soon as Crust win the auction.
It seems like that you guys are well prepared with the technology you are using and the ideas you have in mind. The launch of the Parachain is also one big. milestone for Polkadot.
4.After winning the Parachain, how will decentralized storage, cross-chain interoperability and confidential computer cloud empower Web3.0?
We are trying to bring the next paradigm shift of cross-chain bridges by building completely decentralized bridges.
Let’s look at the cross-chain bridges landscape, hash time lock, custodian model, and collateral-based solutions. Custodial bridges are mostly implemented.
However, think about that:
When we need to call our friends out, we go to Facebook, a centralized institution to pass messages to our friends.
This is not the way the world was meant to be
Blockchain, on one single chain, Bitcoin, and Ethereum, this old trust-based order has been obsoleted.
But when it comes to cross-chain interoperablity，largely relying on custodial bridges, everything seems to go back to the start point.
So we are facing the question: Fighting or Creating?
Buckminster Fuller once said: You never change things by fighting the existing reality.
To change something, build a new model that makes the existing model obsolete.
Now, some Custodial bridges are distributing middlemen, claiming to become decentralized, but the distribution doesn’t mean decentralization.
It’s still fighting the old but not creating a new one! Polkadot Founder Dr.Gavin also said: The most expensive asset would be the trust.
Obviously, now we see that the trust cost of these Custodial bridges is extremely high!
Therefore, Darwinia is building decentralized bridges.
Cross-chain game usecase
Phala has its idea world, and that is to make a better data system for web 2.0, which needs:
- The confidential protocol and computing power of Phala.
- Being used by Ethreaum, Libra, EOS, and other public blockchain developers. To make it available, we also need the Libra bridge(developed by us), EOS bridge(the rainbow bridge, developed by Bifrost,) as well as the native smart contracts blockchains, like Darwinia, Plasm, and Edgeware.
- Data storage is necessary. For example, Filecoin bridge or other third-party’s data protocol can achieve this function.
- To use the third-party’s protocol, to pay for it, stable coins and DeFi infrastructure are necessary.
Let’s assume that you are going to develop a DeFi contract within a privacy function, then I will suggest to you:
- Use Moonbeam/Acala as mainnet
- Call the protocol based on Bifrost/Stafi
- Develop the privacy function by Phala confidential contract
By this above, at a low-cost, you can achieve the innovation of application and have the composability that other ecosystems don’t own.
The vision of Web3.0 includes many aspects, including data security, privacy protection, ownership of data and identity, and so on. It’s a new world. Crust, Darwinia and Phala are all in place to provide infrastructure. Once Crust is connected to the Parachain, it can complete the file storage and distribution layer protocol for the Web3.0 ecosystem.
Then look at the specific scene. Crust can be applied in scenarios such as decentralized website/dapp deployment, off-chain data storage, and decentralized cloud storage services
thanks for sharing with us your insights and visions about web 3.
Polkadot allows Parachains to source tokens for their Parachain bids in a decentralized crowdloan. now, we have one question that users are most concerned about：Crust, Darwinia, and Phala, How do we participate in your crowdloan?
- Dapp: Khala Crowdloan Dapp, Math Wallet, Polka.js, Atoken, imToken, Math Wallet, TokenPocket
- Centralized organizations: OKEx, KuCoin, Kraken, Newland
We have reached cooperation with many platforms and exchanges, you can choose the platform you are used to vote. For centralized channels, we recommend OKEX, Math Wallet, Kraken and Hotbit. We recommend Nutbox, Newland, Atoken and Polkadot apps for decentralized channels. We summarized an article, https://medium.com/crustnetwork/join-the-crust-shadow-crowdloan-for-the-kusama-parachain-slot-auction-e0f041ae9627 which can also be found on Twitter, as well as an article about auction reward details. Welcome everyone to follow us on Twitter.
6.I hope the community have a better understanding about how to participate in the Crowdloan and we are looking forward to the video tutorials. any first-hand news you would like to share with our community users?
Darwinia Crab Crowdloan has opened. Our para ID is 2006.
Darwinia Crab one-click crowdloan has been live on our Crab website:
Home for Crab Network | Crab Network
Darwinia Crab network is the canary network for Darwinia. It is the first cross-chain NFT blockchain in the Polkadot…
Multiple industry experts will join Phala’s R&D company in executive capacities, and Phala Network is going to release an innovative token economics paper the latest version.
actually crust now is totally ready for being used by everyone. Since opening the storage function on February 28, we have been working hard to promote the application.
Now all users can store and transfer files through the Crust network.
At the beginning of July, we will launch the “profit data” event. The purpose of this event is to let more and more people try to use our storage function.
In this activity, as long as you use crust storage and pledge the CSM, you can get CRU rewards. we will issue a total of 54,000 CRUs to users.
How can CSM be obtained? Participate in our Kusama slot auction or participate in our 9 million airdrop event on June 21st. We will conduct an airdrop on Coinmarketcap. Welcome everyone to follow us on Twitter to get first-hand news.
7. thank you for sharing with us the updated progress of your projects. I think that pretty much sums up the questions we have for today. so before we end today’s ama, do you guys want to say something to get more support for your Parachain auction!
Hope you will support Darwinia! Win the prize, be fans!
Thank you Evan, Bree, Marvin for the very insightful discussion, wish you all the best for the Kusama. Parachain auction. and for those who are watching the video, I hope our guests have answered some of your questions. if you guys want more information about Crust, Darwinia, and Phala, please follow their Twitter and Telegram and medium for the updated news. The links are in the description. Thanks again guests for spending the night with us, wish you all the best for the Kusama. Parachain auction.
And thanks for watching.
About Darwinia Network
Darwinia Network is a decentralized cross-chain bridge network building on Substrate, which is the “Golden Gate Bridge” of the cross-chain ecology. It provides the safest general bridge solution, connecting Polkadot, Ethereum, BSC and other heterogeneous chains.