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Announcements Gate.io Launches KSM & DOT Slot Auction Page
Gate.io Launches KSM & DOT Slot Auction Page
2021-11-17 04:19:15 UTC 25295 Read
Gate.io has launched the DOT / KSM slot auction page to help users quickly view the Lockup & Earn opportunities at their disposal in terms of the parachain auction. Users can enter quickly to view the progress of the auction, project details and common problems that may arise. Users can participate in slot auctions with just one-click and share on-chain earnings. New users can sign up at Gate.io to participate.


View now (web version): https://www.gate.io/en/slot_auction

*The App version will be launched at a later date.

The 15th KSM slot auction and the initial DOT slot auction are in progress. Participate here.
Please keep a close eye on our announcement page for details regarding new slot auction supported projects and all the latest progress.
Please note: Gate.io only serves as an intermediary to provide users with services to participate in auctions, and does not bear the responsibility of any capital losses caused by a project team or any issues with on-chain security.



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

2. Slot Auction: The auction will be conducted on-chain. Please keep an eye out for the result. If the project you support is unsuccessful in the auction, the funds of KSM/DOT you locked will be returned without interest.
3. Interest Distribution: When the project you support wins an auction slot, we will distribute the interest according to the on-chain annual interest rate. Once the on-chain KSM/DOT funds are unlocked, users will receive their KSM/DOT immediately.


Rules
1. Lockup token: KSM/DOT
2. Fees: 0
3. Annual interest rate is subject to the on-chain rate
4. When the project you support wins the auction, we will distribute the interest according to the annual on-chain interest rate.
5. Once the funds on KSM/DOT on-chain are unlocked in advance, we will also release the KSM/DOT to users right away.
6. If the project you support fails in the auction, the funds of KSM/DOT you locked up will be returned with no interest.



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Gate.io Team
November 17
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