Auctions, and Crowdloans, and Slots, Oh My!
summary
Polkadot auctions assign two‑year parachain slots split into eight three‑month lease periods (Kusama: 48 weeks, six‑week leases). Auctions use a blockchain candle auction—two‑day opening then five‑day ending on Kusama—where each block snapshot is later selected by VRF to pick winners; bid weight multiplies by lease duration so 200 DOT for eight leases counts as 1600 locked‑value. Crowdloans let users lock DOT/KS M (returned when the lease ends), support a crowdloan memo for target addresses, and are managed via polkadot.js apps.
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chapters (12)
- 0:00Start
- 4:37Nested Relay Chains
- 6:55Auctions
- 8:13Candle Auction
- 12:33Crowd Loans
- 14:52General Auction Timetable
- 15:54The Auction Schedule
- 16:26Participating in Crowd Loans
- 19:55Do's and Don'ts
- 21:18Recap
- 21:42Why Polka Dot Is the Best Platform for the Web3 Future
- 32:52Will Teams Be Able To Stack Parachain Auction Slots
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