Join KSM Slot Auction with one-click on Gate.io (Karura takes the lead)

Announcements Join KSM Slot Auction with one-click on Gate.io (Karura takes the lead)

2021-06-16 06:58:17 UTC 37312 Read

Event #Lock up KSM & Earn, Join the Kusama Slot Auction is ongoing and now Karura is taking the lead in the auction. As of 14:50, 512.760600 KSM has been locked, and the remaining amount is 36987.239399 KSM.

Other KSM slot auctioneers, Moonriver and Crust Network, will be listed on Gate.io soon. Lock up KSM to support projects which take part in the auction, and earn on-chain rewards!

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.

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 16, 2021

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