Polkadot Parachain Slot Bidding Simulation Now Live on Pool-X!

Dear Pool-X Users,

Pool-X will be launching the Polkadot Parachain Slot Auction-Bidding Simulation at 10:00:00 on February 3, 2021 (UTC). Users can use KSM to experience the slot bidding in advance and get high rewards! When the bidding is officially opened, Pool-X will simultaneously support Polkadot Parachain Slot Bidding! (All times in this announcement default to UTC time zone)

Participation Methods

1. Deposit/transfer KSM to Pool-X account.

2. Login and click “Participate Now” to support Polkadot projects you favored. （Web/App）

Timeline

1. Crowdloan Period (10:00:00 on February 3, 2021 - X)

*X is the day when Polkadot officially announced the opening of the Parachain Slot Auction announcement

During this period, users can deposit/transfer KSM to the Pool-X account to participate. To participate means KSM assets will be locked.

The Crowdloan Period lasts for a maximum of 14 days. If Polkadot does not release the announcement during the period, then the end time of Crowdloan Period is 10:00:00 on February 17, 2021.

2. Bidding Period

The Bidding Simulation will simulate the Polkadot slot candle auction. Using "X" as the snapshot time to determine the successful bidding project.

If Polkadot does not release the announcement during the period, 2021/02/17 10:00:00 will be taken as the snapshot time to determine the successful bidding project.

3. Lease Period

After the auction result is generated, the lease period will be entered immediately.

The slot lease period for all projects of the Bidding Simulation is set to 7 days.

*Reward calculation method: ( user staked amount / total staked amount of Simulation) *corresponding reward pool

Triple Rewards:

1. Participation Reward: $20,000 equivalent KSM in total, and all the participants can share.

2. Project Reward Pool: If the supported project successfully bids, all users who supported this project will share this reward pool provided by the project.

3. KuCoin Exclusive Reward Pool: KuCoin will provide 10,000 USDT as a reward pool for the winning project, and those who supported the project will share the rewards.

Rewards Details:

*The listed projects are composed of KuCoin and Pool-X community voting and cooperative projects.

Notes:

1. This campaign is a simulation of Polkadot Parachain Slot Bidding. Pool-X will not perform on-chain, and all staked assets and rewards will be returned to the Pool-X account after the Simulation ends.

2. Once the official Bidding opens, Pool-X will participate in the bidding on behalf of users based on their actual participation. If the bid of the supported project is successful, the staked asset will be used for the slot lease of the project. During the Lease Period, the assets cannot be unlocked in advance, but can be traded on Pool-X “Exchange”.

About Polkadot Parachain Slot Auction

The purpose of the Polkadot Parachain Slot Auction is to allow each parachain to enter the Polkadot Relay Chain, so that the parachains can enjoy the extremely high security of the Polkadot network and achieve cross-chain operations with other parachains.

Risk Warning: Staking is a risk investment channel. Investors should be sensible in their participation and be aware of investment risks. The KuCoin Group is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. The KuCoin Group reserves the right of final interpretation of the activity.

Thank you for your support and understanding!

The Pool-X Team