About AEX Polkadot’s Slot Auction
What is slot auction?
Slot auction, in short, stakes your DOT to vote for the projects that run for slots. If the project gains the slot successfully, your DOT will be locked for a fixed duration(6–24 months) and unlocked once expired. At the same time, you will get the vote token rewards for free. If not, your vote token will return back.
How do I participate in slot auctions through AEX?
AEX provides users with access to participate in the slot auction. Users vote for the project at AEX, then AEX votes on the chain on behalf of users. If the project gains a slot, AEX will receive the rewards and distribute them to users. If the project does not gain any slot at auction, AEX will retrieve assets from the chain for users.
Why do you choose an AEX slot auction?
Which tokens need to be staked for slot auction?
Staking your KSM or DOT to vote for auction project parties. The slot auction can be divided into two phases: security period and random period. In the security period, the project is auctioned freely without an end, but following to random period, a random hammer is triggered based on a random value. The user who stakes more DOT/KSM will gain this slot, which is also called auction successful.
What is DOT(Polkadot)?
Polkadot is the third-generation permissionless blockchain launched by the core developer of Ethereum, Dr. Gavin Wood. The core concept of this design is instant scalability and extensibility. It aims to connect the current independent blockchains to achieve communication and data transfer across different blockchains.
What will I get from a slot auction?
You will get the relevant rewards that auction project parties give. The specified rewards detail is subject to the official rewards mechanism of project parties.
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Hong long does the asset need to lock after a successful auction?
Depends on the project rent period you vote for. The parachain slot is only rent no sell in which each rent period is 6 months in Polkadot’s parachain slot, the project party can auction one or more, while the period is shorter in KSM’s.
AEX only assists users to vote on the chain, and tries its best to ensure the smooth progress of voting, but does not guarantee that the bid will be successful. AEX is not responsible for any assets loss caused by potential risks such as suspension/termination of business, bankruptcy, abnormal suspension, or cessation of transactions by any third-party platform or project team. Please read the project introduction and voting rules carefully in advance.
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