Kusama Parachain Auction - Known and Unknown Information

Astar
1

We are currently researching heavily on Kusama parachain auction and how it works. In this thread, I will summarize known and unknown information.

Unknown and important information

Known information

  • Shiden Network reserves 35% SDN tokens for Kusama parachain auctions.
  • We will use the crowdloan module prepared by Parity Technologies

Crowdloan Module

  • “The point of this module is to allow parachain projects to offer the ability to help fund a deposit for the parachain. When the parachain is retired, the funds may be returned.”
  • “Contributing funds is permissionless. Each fund has a child-trie which stores all contributors account IDs together with the amount they contributed; the root of this can then be used by the parachain to allow contributors to prove that they made some particular contribution to the project (e.g. to be rewarded through some token or badge). The trie is retained for later (efficient) redistribution back to the contributors.”
  • We can decide the min and max amount of the KSM deposit.
  • Funds may be set up during an auction period
  • Keep in mind that if you don’t withdraw KSM after finishing the lease period or when we lose the auction, you will lose the tokens.

To Do: Add more information

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“if you don’t withdraw KSM after finishing the lease period or when we lose the auction, you will lose the tokens.”

Will there be a time frame to withdraw the KSM?

For instance, locking for 2 years is quite a long period and people might lose track of time.

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More information regarding this will be known closer to the auction.
We hope we can provide you with this answer as soon as possible.

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May i ask under the Shiden FAQ “Shiden FAQ - Plasm Network”

Mentioned Question:
Will my KSM be returned after the parachain lease ends?
Mentioned Answer:
Yes, your KSM will be automatically returned to you when the parachain lease ends.

There is contradiction to the point mentioned on the Crowdloan Module on the point
" * Keep in mind that if you don’t withdraw KSM [after finishing the lease period or when we lose the auction, you will lose the tokens."

My question will be if the return of KSM after lease period is automatic?
Please clarify as I may have an incorrect interpretation otherwise the Shiden FAQ may not be a fact yet and may cause many issues similar to unclaimed lockdrop.

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I may be wrong to assume automatic means we don’t have to do anything when the lease period ends.

Maybe the correct interpretation should be yes KSM will be automatically returned to you when the parachain lease ends but you still need to claim it or it might be lost.

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More information regarding claiming back will be released in our strategy.

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