To become a Polkadot Parachian, we have to win the Polkadot Parachain Auction. The specific mechanism is not revealed yet.
During the Parachain auction, we will have a DOT lockdrop. By locking DOT, you can get PLM tokens with the highest bonus rate. The calculation formula will be
Your PLM = Locked DOT × 2000 (Locked duration bonus) × α3
Since we have a redenomination, the α3 is not decided yet. To win the auction, we will decide the mechanism, etc here.
- Attract DOTs and win the auction.
- Parachain auction date
- The duration of the auction
- How often the slot is released
We need to decide the followings
- Whether we need a vesting period or not.
- Whether we need to set up a cap of PLM for DOT lockdrop