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Home Gate.io Join the KSM & DOT Slot Auction with One-Click on Gate.io(KYL has launched)

Gate.io Join the KSM & DOT Slot Auction with One-Click on Gate.io(KYL has launched)

2022-08-11 09:53:10 UTC 28803 Read
Gate.io supports the Polkadot Parachain Slot Auction. We had launched the KSM & DOT slot auction page to help users quickly view the Lockup & Earn opportunities at their disposal in terms of the parachain auction. New users can sign up at Gate.io to participate.

The 17th round of the Polkadot (DOT) Slot Auction has started on May 11th. Gate.io has launched Lock-up DOT & Earn KYL, Users who wish to participate in the DOT parachain slot auction should lock up in advance.

The 24th round of the Kylin Network (KYL) Slot Auction has started on August 11th, 2022. Stay tuned!

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


*The App version will be launched at a later date.
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
August 11th,2022

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