Altair Network has joined the Kusama Network as the 10th Parachain as it was announced as the winner of the 9th Parachain slot auction.
According to Kusama’s official Twitter handle, over 11.2K network stakeholders helped the protocol win the Parachain slot by blocking native KSM tokens. The data from Polkadot.js shows that these stakeholders have blocked KSM tokens worth 187,835.1767, or $ 62.17 million when the price is $ 331 per KSM token.
Altair Network is now tenth overall parachain on the Kusama blockchain and ninth real parachain. The announcement reads:
Welcome to the cₕₐₒₛ @altair_network!
After winning the 9th Parachain auction, Altair is now listed as my 10th Parachain [9-auction winning parachains, plus #Statemine]. Over 11.2K network participants have locked KSM in favor! Https: //t.co/KQow7VYqbs pic.twitter.com/PdNZwN4S49
– Kusama (@kusamanetwork) September 29, 2021
“Welcome to the cₕₐₒₛ @altair_network!
After winning the 9th Parachain auction, Altair is now listed as my 10th Parachain [9-auction winning parachains, plus #Statemine]. Over 11.2K network stakeholders have closed KSM in favor of KSM! “
Altair Network follows Basilisk Finance, which reportedly won the 8th Parachain slot auction last Wednesday, September 22nd. This means that the 10th Parachain slot is now leased to the protocol for the next 48 weeks.
With the closing of the 9th auction, the race for the 10th Kusama Parachain Slot has also begun, with 12 participating. This will be the final auction for the second batch of Parachains. But the important development is that there will be no break for the 11th auction. The 11th slot auction will begin immediately after the current 10th auction has ended on Wednesday, October 6th, 2021.
Motion 360 passed the council to open my 10th Parachain slot auction! This auction will run until October 6th around 10am CEST. So far 12 teams have taken part, who will take part in the soɐɥɔ next?
To join in or join in, visit @PolkadotJs: https://t.co/KQow7VYqbs
– Kusama (@kusamanetwork) September 29, 2021
This is important because after the first auction of five auctions was completed, there was a pause to evaluate the network’s performance. The same process has been announced for the second batch, but the team has decided to continue the 11th auction without a break. Kusama announced:
A little bird told me that next Wednesday, October 6th (at the end of the 10th auction) an application will be opened to immediately start an 11th auction on the same day. It turns out that there is enough slack for a potential 11th auction before the current lease period ends.
– Kusama (@kusamanetwork) September 29, 2021
“A little bird told me that next Wednesday, October 6th (at the end of the 10th auction) an application will be opened to immediately start an 11th auction on the same day. It turns out that there is enough slack for a potential 11th auction before the current rental period ends. “
The team added:
After consulting the development team, some of my council members have come to the conclusion that a new lease is reason enough to open a new auction for security reasons. As always, cₜ cₕₐₒₛ and flexible governance. pic.twitter.com/RrKVhEysCG
– Kusama (@kusamanetwork) September 29, 2021
“After consulting with the development team, some of my council members have come to the conclusion that a new lease is reason enough to open a new auction for security reasons.”
What is Altair Network?
Altair Network is Centrifuge’s canary, just like Kusama is from Polkadot. The protocol aims to provide the much-needed avenue to tokenize and unlock liquidity from real assets from the Kusama ecosystem. The website describes Centrifuge and Altair as:
“Altair combines Centrifuge’s industry-leading Real World Asset (RWA) funding infrastructure on the Centrifuge Chain with the latest experimental capabilities – before going live on Centrifuge Chain. Even when Centrifuge is fully live on Polkadot, Kusama will be used to mint art NFTs, fund undiscovered assets, and anything else the Kusama community brings to the table. “
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