4 Things DOT/KSM Holders Must Pay Attention to as Boca Parallel Chain Auction Appoints
Original source: OKEx Intelligence Agency
With the increase in the number of parallel chains connected to Rococo V1 test network and the steady operation of parallel chains, Boca parallel chain auctions are getting closer and closer. So as KSM and DOT tokensinvestmentWhat are the most important issues that need our attention?
In my opinion, there are four issues that investors must pay attention to: 1) what are the steps of the on-line Boca parallel chain auction; 2) How to observe the progress of Rococo test network? 3) DOT/KSM holders, why focus on parallel chain auctions? 4) How do we participate in parallel chain auctions? How to maximize investment returns?
1. The on-line steps of Boca parallel chain bidding
About Boca parallel chain auction, we must be most concerned about"whatWhat time does the parallel chain auction start?" To answer this question, we need to start from three aspects. That is, the steps of Boca parallel chain auction; What is the current status of the Rococo test network? Which parallel chains are currently participating in the test network testing
1) What are the steps of Boca Parallel Chain Auction?
The general process of Poka parallel chain landing:
A) Go online the Rococo V1 test network and wait for its stable operation;
B) onlineKusamaAhead of the netPublic welfareParallel chain (also called system parallel chain);
C) Open slot auction on Kusama Advance;
D) On-line parallel chain of Kusama Advance Network;
E) Complete the audit work and go onlinePolkadotThe public parallel chain of the main network;
F) Open Bid for slots on the Polkadot mainnet;
G) Online the parallel chain of Polkadot main network.
2) What is the current state of the parallel chain of Poka?
1) Submitting a vote through on-chain governance to enable parallel chains and Slot auctions on Kusama when you are confident that the parallel chain test network is running smoothly and the code has been fully audited and benchmarked; 2) The first public parallel chain will then be deployed; 3) and start Slot auction on Polkadot via on-chain governance.
We need to focus on that."Make sure the parallel chain test network Rococo runs smoothly", which means that as long as you can be sure that the parallel chain test network is running smoothly and that the code has been fully tested, it is basically a good idea to start parallel chain bidding on Kusama.
Therefore, the first step of the POCA parallel chain is to go online the Rococo V1 test network and wait for its stable operation.
3) Which projects are being tested?
At present, 11 parallel chains have been linked into the Rococo test network, the 8 parallel chains are Tick, Trick, Track (these three are parallel chains of the system, which do not issue currency and do not need to pay attention to), PLASM  Network, Acala Network, KiltProtocol, Phala Network, PolkabTC, Crash Network, Darwina Ntework, Hydradx.
If you can, please follow @polkaWarriors on Twitter, or visit ushttps://polkadot.js.org/apps/? rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachainsCheck your progress.
2. How to observe the progress of Rococo test network?
So is there any indicator that can directly tell me ROC in the parallel chain test networkoProgress on CO?
1) Block time: Whether the block production time of the parallel chain test network is all stable at about 6s, because the block production time of the Poka /Kusama network is 6s. If the block production time of these parallel chain test networks can be stable at 6s, it means that the parallel chain auction time is coming.
What is the exact time? See below.
https://polkadot.js.org/apps/? rpc=wss%3A%2F%2Frococo-rpc.polkadot.io#/parachains
You can also follow this link to observe each parallel chain test network out of the block.
2) Number of parallel chains: At present, the following 11 test networks have been connected: Tick, Trick, Track, Plasm& NBSP; Network, Acala Network, KiltProtocol, Phala Network, PolkabTC, Crash Network, Darwina Ntework, Hydradx. There are parallel chains that have not yet been connected and therefore require constant attention.
Question 3. Why do DOT/KSM holders focus on parallel chain auctions?
Specifically, there are three reasons:
1) Closely related to the interests of token holders
You don't have to care about Staking, you don't have to care about the rate at which a bill is voted, you don't have to care about the XCMP development rate, but you do have to care about Poca parallel link auction, because it's in your interest.
In essence, it gives its own KSM/DOT lock to the parallel chain that wants to support for card slot rental, and the parallel chain will give its own project Token in return. If the parallel chain has more rewards and a high valuation, then it is likely to be a very considerable return for the user.
Most importantly, all you need to do is lock up your KSM/DOT and support this project, and you can get parallel chain tokens for free, which is a very good deal, and completely eliminates all the risk of ICOs.
2) Boca parallel chain auction is undoubtedly a wealth feast in the blockchain industry in 2021. A large number of projects, funds,developers,exchangeThe community will witness this feat together.
Exchange:
On March 2nd,The easyBlock Dream Fund, an investment arm of OKEx, has invested and has joined the infrastructure ecosystem. And it will support the parallel chain auction between Poka and Kusama in the future. Although the specific plan has not come out, it is predictable that the coins will be able to participate in the parallel chain auction as long as they are placed in the exchange.
Yesterday, after the news came out, many exchanges also followed, which will further boost the Boca parallel chain auction heat.
Crypto funds:
Last week, for example, Dubai-based global cryptocurrency investment fund FD7 Ventures decided to sell $750 million worth of bitcoin assets over the next 30 days to increase its Ada/Dot holdings.
3) Focus on parallel chain auctions because Boca is a good enough project
Technical features:Its heterogeneous sharding mechanism makes chain customization better. There is noyThe escalation mechanism makes it easier to iterate through chain upgrades; On-chain governance mechanism makes community governance more efficient and fair; Substrate makes "one-click chain delivery" a reality and has the potential to become the "Java Spring" of the blockchain industry.
Ecological construction:The current number of Poca, or Substrate based blockchain projects, is close to 380, and the number is increasing every day, involvingThe wallet,NFT,DeFi, Bridge,Intelligent contract.
Future Vision:Instead of Ethereum's vision of being the "world computer," Boca's vision is to be the"Web3.0"Is the basis of the Web3.0 Foundation. Boca is an inevitable product of the intersection of the blockchain industry and the Internet. It is also a product of The Times and has a brighter future.
Founding teamGavin Wood was born in 1980 in England. He holds a PhD in computer science from Duke University. Was Ethereum's first CTO,Responsible for ensuring the design and development of Ethereum and ultimately the smooth launch of Ethereum; Gavin is also the inventor of Solidity language, the founder of Ethereum client Parity, and the author of Ethereum Beige Book. In the words of ethereum beige book translator Zhenzeng Yang, "Gavin is an outstanding software engineer and a doer".
Gavin also had a sympathetic conversation with Ada founder Charles Hoskinson.
Charles Hoskinson, Founder of Ada: Congratulations Poka, you are all great engineers @Gavin Wood
Gavin Wood, Founder, Polakdot: Thank you, Charles
As a result, as of March 3, 2021, Boca is a technologically advanced, ecologically prosperous, ambitious project with a glittering founder.
Is this project going to work or not? I think the large probability is possible, at present we have come to the Boca parallel chain auction of the door, this doorstep how to kick in the most handsome posture? We'll see.
Question 4. How should we participate in parallel chain auction? How to maximize investment returns?
1) Participate directly in the exchange
According to & have spent PolkaWorld's March 2 article,The easyOKEx will be the gateway for many users who hold DOT and KSM, giving them easy access to our PLO (and receiving PLM tokens), meaning that you will be able to support parallel chain auctions without having to carry coins to your wallet. As for whether it will cooperate with other parallel chains, such as Acala Network, KiltProtocol, Phala Network, PolkabTC, Crack Network, Darwina Ntework, Hydradx and so on, it still depends on the actions of the exchange in the later stage.
Advantages of participating in parallel chain auctions directly on the exchange: 1) You don't need to remember mnemonic words and you won't lose coins; 2) The exchange is bound to optimize the participation interface better, which is of great advantage to investors; 3) You can directly pledge in your own KSM/DOT demand on the exchange (OEEC OKEX), redemption only takes one day, while the pledge on the main network, it takes a long time (DOT 28 days, KSM 7 days).
2) Participate in the wallet
Since the crowdlending module is not open yet, the interface in the wallet is not open either.
3) How should DOT/KSM be allocated to maximize benefits?
I mentionOne third theory, the so-called one third theory, is to divide your DOT/KSM into three equal parts, each part of the arrangement is as follows:
A) 1/3 continued mining;
B) One-third participate in parallel chain auctions;
C) One-third cash out and participate in parallel chain projects;
Roughly explain:
Staking is Staking, mortgaging your token to earn interest.
Parallel chain auction is to support one's own KSM through the auction module for some parallel chain slot auction, and then get these slot tokens airdropped (USDT/ this chain token /KSM);
Cashout refers to the fact that there are many parallel chain projects on the exchange line at present. You can sell KSM tokens when KSM is high, and directly buy the tokens of Poka and Kusama parallel chains in the secondary market.
These are the top four areas for KSM/DOT token holders to be concerned about. If you have any questions, please feel free to ask.
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