SubGame access parallel and participate in slot auction of Crowdloan (Step by Step Guide)
SubGame wins the slot auction and accesses the slot, it will directly receive the 1KSM:10GSGB current award and begin to linearly release the 1KSM:18GSGB slot lease award for the next 48 weeks.SubGame access parallel and participate in slot auction of Crowdloan (step by step guide)
SubGame,the Polkadot full ecological development engine has access parallel chain to participate in slot auction crowdloan.
SubGame officially announced on Twitter that it has completed the registration of Kusama parallel chain ID with serial number 2018.
At present, the crowdloan function of parallel chain has been enabled, and now users can participate directly through SubGame’s official website and polkadot.js channels by staking KSM to get SGB token awards.
SubGame has been one of the first nine parallel chains in KSM slot auction, and access to Polkadot ecology has always been the most important strategic goal of SubGame.
According to the Polkadot parallel link step, the Kusama slot auction should be carried out first. when the Kusama parallel chain function can run stably for a period of time, the function of the SubGame parallel chain can be connected to the Polkadot relay chain (main network).
So for Kusama slot auction, SubGame is imperative.
In order to support the ecological development of Polkadot, through the stake of KSM to support the ecological development of Polkadot, CoinW opened the auction channel of Kusama slot.
Participate in the Kusama parallel chain slot auction and get the support card slot auction award provided by the SubGame project.
SubGame Slot auction reward
Upper limit of total reward distribution for slots: 34,000,000 GSGB.
Proportion of slot rewards to total tokens: 6.8%.
Total upper limit of supported KSM: 400,000 KSM.
The total amount of rewards is the upper limit for supporting KSM or DOT to participate in card slot auctions, and the maximum reward is expected to be 10% per year, or about 3,400,000 GSGB.
PS:GSGB, which runs on SubGame Gamma, is a reward token for participating in SubGame’s crowdloan activities. It has the same value as the token on SubGame’s main network, and can be exchanged with SGB at 1:1 through the cross-chain bridge.
Participate rules of crowdloans and slots on Kusama parallel chain:
- Lending SubGame will open public lending activities on the Kusama network. Crowdloan, participants will use the activity index (Campaignindex) to participate in transactions, and participants will lock their KSM to Kusama until the end of the lease to support SubGame to win parallel chain slots.
- The KSM of the public loan is unlocked and returned to the participant at the end of the lease. If the SubGame does not win the auction at the end of the public loan activity, the contributor’s KSM can be unlocked at the end of the event.
- The number of single stake is ≤ 300KSM.
If SubGame does not succeed in winning the slot, the contributors will not be able to get the award for the slot auction for the time being.
Until the auction is successfully connected to the card slot, the current contributors will receive the current slot auction award with 1KSM:10GSGB according to the staked KSM, and will receive the linear release reward of 1KSM:18GSGB during the slot lease period.
- If SubGame does not win the card slot during the auction period (current period), the reward will not be counted, while the KSM of crowdfunding contributors will be unlocked and returned.
- SubGame won the slot during the auction, and the current contributors to the public loan will enjoy an one-time reward from 1KSM:10GSGB.
In addition, linear release rewards are made according to 1KSM:18GSGB until the expiration of the card slot lease period (48 weeks).
Release 10% bonus in the first week.
Release 5% every subsequent week (lease term).
A total of 18 weeks (lease period) to complete the award release (about 5 months).
When the lease expires, all the KSM of the crowdfunding contributor will be unlocked and returned.
By participating in the auction of SubGame card slots and successfully accessing the slots in the future, SubGame will be able to achieve the ecological landing of Kusama and greatly improve the ecological construction, and the usage of SGB will be greatly increased, making SGB a rigid demand in the rigid demand.
After completing the access to Kusama, SubGame will actively participate in the auction of Polkadot main network slots, and the value of SGB will grow more greatly at that time!
SubGame slot auction staking
Enter the website：https://polkadot.js.org/
1、Click the link under the apps wallet(hosted)
2、Click switch on the top
3、Choose via Parity in Kusama and confirmed the switch
4、Click account connect or create a new account
5、Choose to add account or import JSON
If you choose to create, please save your seed and click the confirmed down below then click next.
6、Click parallel chain in the network
8、Find the SubGame Gamma in the page then click Contribute
9、Enter the number of KSM you wanna stake and click Contribute