Another first for Polkadot, because the Kusama committee approved the first parachain slot auction

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The Kusama Committee has passed Motion 310, confirming the start of the first slot machine auction on the Kusama network.

According to the details shared On Polkadot’s governance platform Polkassembly, 13 of the 19 “seats” of the Kusama committee voted to start the slot auction process.

Source: Polkassembly

As previously reported by Cointelegraph, Polkadot and Kusama co-founder Gavin Wood has released Tentative schedule for Kusama slot machine auction Come back on June 8.

These slot auctions will determine the parachains that will be added to the Kusama relay chain. Kusama acts as Polkadot’s canary network, and according to Wood, it helps protect the latter by “allowing features to exist in the wild for as long as possible.”

According to Wood’s initial schedule, the first auction will be held for five days, and preliminary bidding will be allowed in the first two days.

Therefore, the winner should appear at 11:00 AM GMT on June 22, and the second auction will begin an hour later. All in all, Wood proposed the first set of auctions for five consecutive periods in the five weeks before the suspension to evaluate network performance and continue another auction with the same schedule.

In early June, the crypto trading platform Kraken announced a parachain auction platform Enable customers to participate in this process from the exchange itself. According to Kraken’s announcement, customers will be able to support the bid for the Kusama decentralized financial center Karura and the smart contract agreement Shiden.

related: Polkadot founder Gavin Wood proposes to hold the first Kusama parachain auction on June 15th

In terms of price, the start of the slot auction has not yet stimulated any major price increases for Kusama (KSM). In the past 24 hours of trading, KSM has only risen by about 2%. At the same time, Polkadot has seen a greater price rebound during the same period. As of this writing, DOT has gained 15%.

On Monday, Coinbase Pro Announce Add Polkadot (point) To its catalog of altcoin listings. According to the announcement, DOT transactions will begin on Wednesday, June 16th in all Coinbase-supported jurisdictions except Singapore.

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