Your Kraken account must be verified to intermediate level to participate in parachain auctions. This service is not available to residents of the US, Canada, Japan and Australia at this time.
How is a winner of the parachain auction determined?
Parachain slot auctions use a candle auction format. At the end of the auction, a snapshot will be taken at a random, unknowable point during the auction period, and the project with the most KSM bonded to support their bid at that time generally wins.
Where and when can I find out if Kraken will be including a particular project in an upcoming parachain auction?
All announcements on projects we will supporting are announced via our blog blog.kraken.com
What happens to my KSM if the project I support wins a parachain auction?
Your KSM will remain bonded on the Kusama network for the duration of the parachain slot acquired by the winning project (6-48 weeks, depending on the project’s bid). At the end of this period, Kraken will aim to promptly return the KSM to your account.
What happens to my KSM if the project I support loses the parachain auction?
Following the end of the project’s campaign duration (which may last one or more sequential auction periods), Kraken will aim to promptly return the KSM to contributors.
Can I unbond my KSM before a parachain auction has ended?
No - Once you have contributed to a parachain auction, your KSM remains locked on the network for a period of time, which varies based on whether the project you support wins or loses at auction (see above).
Can I cancel or edit the amount of KSM I contribute to a parachain auction?
While you cannot cancel or edit the amount of KSM, you can add more KSM to your contribution while the auction is still open.
What happens if the value of KSM decreases/increases while locked in an auction?
While the value can always change, the quantity of your KSM will not change and we will aim to promptly return bonded KSM to your account (when it is unlocked on the network) with the same quantity of KSM that you used to contribute to the auction.
How much of the token will I get if the project I support wins? When will I get the tokens?
Where possible following receipt by us, we will credit the rewarded tokens to your Kraken account on a pro rata basis relative to the amount of KSM you bonded through us in the auction bid (versus the total amount of KSM bonded through us in that auction bid). We will use this pro rate approach to distribution if you instruct us to bond your KSM in a parachain auction today. Otherwise, it is subject to change.
Ultimately, however, the amount of reward tokens received, and the timing of that distribution, is at the discretion of the project team. While we have no control over this process, we may communicate, without any obligation to vet or verify it, information offered by that team where possible.
For more information please visit our overview on parachain auctions here.
When will trading for project tokens start?
Kraken may explore listing project tokens for trading at its discretion, but we make no guarantees that trading will be available at any particular time or in any particular jurisdiction, if at all.
Will I be able to withdraw my rewarded project tokens?
Yes, project tokens that we claim on your behalf will be withdrawable if and when transferability of the asset is enabled. However, this may not always be immediately following the launch of the project’s parachain network.
Will I be able to stake parachain project tokens on Kraken?
It depends. Kraken is always looking to support new staking assets and will evaluate staking for parachain project tokens on a case by case basis. We can make no guarantees regarding specific tokens at this time.
Can I deposit KSM now?
Yes, deposits for KSM are open. Click here to fund your Kraken account.
Can I use my staked KSM to participate in a parachain slot auction?
No, if you wish to participate in a parachain auction, you will have to unstake your KSM in your account beforehand. You can learn how to unstake here.
I don’t have any KSM - how can I participate?
You can buy KSM on Kraken with USD, EUR, GBP, AUD, BTC, ETH, or DOT.