Lock up KSM & Earn，Join Kusama Slot Auction!(projects are continually being updated)

Announcements Lock up KSM & Earn，Join Kusama Slot Auction!(projects are continually being updated)

2021-06-15 12:32:43 UTC 65268 Read

In order to support the Kusama Parachain Slot Auction, we launched a special HODL & Earn project. Users can simply lock up KSM to support projects which take part in the auction, and earn on-chain rewards! New users sign up at Gate.io to participate.

Methods:
App: Click“Gate.io Finance on the Markets page.
Web: Click“Finance”on the top of the homepage.

Links of Projects

KSM Slot: Lock-up KSM ＆ Earn K-PHA：https://www.gate.io/en/hodl/595
KSM Slot: Lock-up KSM ＆ Earn KAR：https://www.gate.io/en/hodl/596
KSM Slot: Lock-up KSM ＆ Earn BNC：https://www.gate.io/en/hodl/597
KSM Slot: Lock-up KSM ＆ Earn SDN：https://www.gate.io/en/hodl/598
KSM Slot: Lock-up KSM ＆ Earn KSX：https://www.gate.io/en/hodl/599
KSM Slot: Lock-up KSM ＆ Earn SDN：https://www.gate.io/en/hodl/600
*Rate Subject to on-chain revenue

KSM slot auction will be launching the following projects tomorrow:
Moonriver（Prize Pool：MOVR）: links will be updated soon, please stay tuned
Crust Network （Prize Pool：CRU/CSM）: links will be updated soon, please stay tuned

Procedure

1. KSM Lockup & Earn Participation: Users can deposit or buy KSM to join and support different projects in the Auction. Project details:

2. KSM Slot Auction: Auction will be conducted on chain, please keep an eye on the result. If the project you support fails in the auction, the funds of KSM you locked will be returned with no interest.

3. Interest Distribution: When the project you support wins the auction, we will distribute interest according to the annual interest rate on-chain. Once the funds on KSM on-chain are unlocked in advance, we will also release the KSM to users right away.

Rules:
1. Lockup token: KSM
2. Interest token: KAR, BNC, K-PHA, SDN, KSX, CRING
3. Fees: 0
4. Annual interest rate is subject to the rate on chain
5. Start time 2021-06-14 14:00 UTC+8
6. When the project you support wins the auction, we will distribute interest according to the annual interest rate on-chain.
7. Once the funds on KSM on-chain are unlocked in advance, we will also release the KSM to users right away.
8. If the project you support fails in the auction, the funds of KSM you locked will be returned with no interest.

*
1. Other supported projects in the auction will be updated later on Gate.io Finance.
2. Gate.io only serves as the platform to provide users with services for participating in the auction, and does not bear any financial losses caused by the project party or the security of the chain.

Relative Readings:
Gate.io Blog: Will Polkadot_s Parachain Slot Be the Ticket to the Future?

Important notice:
Locking your asset for a certain term is required. Your asset and interest will not be available until the end of the lockup term. If there is any price fluctuation on the market, you are unable to unlock and trade immediately. And the interest received may not be sufficient to cover the loss caused by the price change. Please fully understand the risks.

Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.

Gate.io Team
June 14, 2021

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