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Lock up KSM & Earn,Join Kusama Slot Auction(7 new projects including SKU/SGB/KMA/XRT/KILT/PICA/GENS updated)

2021-08-31 12:43:01Read:62127

In order to support the Kusama Parachain Slot Auction, we launched a special HODL & Earn project and the sixth parachain auction will be launched at 12:00 UTC on September 1. 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.

KSM slot auction had launched the following projects today:
KSM Slot: Lock-up KSM & Earn SKU: https://www.gate.io/hodl/730
KSM Slot: Lock-up KSM & Earn SGB: https://www.gate.io/hodl/729
KSM Slot: Lock-up KSM & Earn KMA: https://www.gate.io/hodl/728
KSM Slot: Lock-up KSM & Earn XRT: https://www.gate.io/hodl/727
KSM Slot: Lock-up KSM & Earn KILT: https://www.gate.io/hodl/726
KSM Slot: Lock-up KSM & Earn PICA: https://www.gate.io/hodl/725
KSM Slot: Lock-up KSM & Earn GENS: https://www.gate.io/hodl/724
Other projects
KSM Slot: Lock-up KSM & Earn KPN: https://www.gate.io/hodl/606
KSM Slot: Lock-up KSM & Earn PKS: https://www.gate.io/hodl/607
KSM Slot: Lock-up KSM & Earn KAZE: https://www.gate.io/hodl/608
KSM Slot: Lock-up KSM & Earn CRU and CSM: https://www.gate.io/hodl/609
KSM Slot: Lock-up KSM & Earn KSX: https://www.gate.io/hodl/599
KSM Slot: Lock-up KSM & Earn CRING: https://www.gate.io/hodl/600

*Rate Subject to on-chain revenue

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 without interest.

3. Interest Distribution: When the project you support wins an 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: KPN, PKS, KAZE, CRU and CSM, KSX, CRING, SKU, SGB, KMA, XRT, KILT, PICA, GENS
3. Fees: 0
4. Annual interest rate is subject to the rate on chain
5. When the project you support wins the auction, we will distribute interest according to the annual interest rate on-chain.
6. Once the funds on KSM on-chain are unlocked in advance, we will also release the KSM to users right away.
7. 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’s team or the security of the chain.



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Gate.io Team

August 31st, 2021


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