The Kusama Council has passed Motion 346, initiating the network's sixth parachain slot auction. This event allows projects to compete for a limited slot by securing crowdloan contributions from the community.
Auction Timeline and Structure
The bidding period spans 27,000 blocks, approximately 45 hours. A concluding randomized candle phase adds an extra 3 hours to determine the winner. The lease period begins on September 3.
Currently, 16 projects have active crowdloan campaigns on Kusama. Under the auction rules, each project automatically bids using the total amount of KSM locked in its crowdloan. The highest bidder is displayed on the Polkadot JS interface.
Leading Contenders in the Sixth Auction
As the auction commences, several projects have already gathered significant community support. Here are the current top five based on KSM contributions:
KILT Protocol
- KSM Raised: 208,175 KSM
- Reward Pool: 4.5 million KILT tokens
- Crowdloan Cap: 220,000 KSM
KILT has allocated 4.5 million tokens from its decentralized governance pool for crowdloan rewards. The protocol’s founding entity, BOTLabs, will participate in voting but will not receive any rewards. If the crowdloan reaches its cap, contributors will receive at least 25 KILT per KSM. 👉 Explore more strategies for contributing
Calamari Network (Manta’s Canary Net)
- KSM Raised: 103,231 KSM
- Reward Pool: Up to 3 billion KMA tokens
- Crowdloan Cap: 300,000 KSM
Calamari uses a multi-tiered hard cap system to avoid irrational bidding wars:
- First cap: 100,000 KSM → 1 billion KMA distributed
- Second cap: 200,000 KSM → 2 billion KMA
- Third cap: 300,000 KSM → 3 billion KMA
Contributors receive 10,000 KMA per KSM, with additional bonuses for early participants and referrals.
Heiko (Parallel’s Canary Net)
- KSM Raised: 32,394 KSM
- Reward Pool: 25,000,000 HKO
- Crowdloan Cap: 400,000 KSM
Rewards are proportional: if the cap is reached, 1 KSM ≈ 62.5 HKO. Tokens vest linearly over one year after winning a slot.
Basilisk
- KSM Raised: 33,868 KSM
- Crowdloan Cap: 222,222 KSM
- BSX Rewards: 15 billion BSX (15% of total supply)
- HDX Rewards: Up to 56,873,469 HDX
Rewards include a time-based multiplier (higher for early contributors) and an HDX bonus that adjusts based on Basilisk’s rank in the auction.
Altair (Centrifuge’s Canary Net)
- KSM Raised: 30,933 KSM
- Crowdloan Cap: 200,000 KSM
- Base Reward: 400 AIR per KSM
Bonus rewards include:
- 10% early-bird bonus (first 48 hours)
- 5% referral bonus for both parties
- Special rewards for contributions over 10 KSM
Tokens are 25% unlocked initially, with the rest vesting over 48 weeks.
How to Participate in a Kusama Crowdloan
Contributing to a crowdloan involves locking your KSM tokens for the duration of the parachain lease (up to 48 weeks). In return, you receive native tokens from the project as a reward.
Always use official crowdloan channels and verify project details directly through their websites or trusted community sources.
Frequently Asked Questions
What is a parachain auction?
Parachain auctions are events where projects compete to secure a slot on the Kusama or Polkadot relay chain by crowdloading funds. The highest bidder wins the slot for a limited lease period.
How are rewards distributed?
Reward structures vary by project. Most distribute native tokens to contributors, often with bonuses for early participation or referrals. Vesting schedules may apply.
Can I lose my contributed KSM?
No. Your KSM is locked but not sold. It will be returned after the lease period ends, provided the project wins a slot. If not, tokens are returned immediately.
What happens if a project doesn’t win?
If a project fails to win an auction, all contributed KSM is returned to holders. Some projects may participate in subsequent auctions.
Are there risks involved?
The primary risk is opportunity cost—your KSM is illiquid during the lease period. Always research projects thoroughly before contributing.
How do I choose which project to support?
Consider the project’s credibility, reward structure, and long-term vision. 👉 View real-time tools for monitoring auctions Community discussions and official documentation are valuable resources.