The official Twitter handle of Kusama Network on Tuesday, June 29, announced:
Welcome to the cₕₐₒₛ @MoonriverNW!
After winning the second parachain auction, @MoonriverNW is now being onboarded as my third parachain. Roughly 6,000 network stakeholders locked up KSM in favor of Moonriver being added to yours truly.https://t.co/KQow7VYqbs
— kusama (@kusamanetwork) June 29, 2021
According to Moonbeam, an Ethereum-compatible smart contract platform on Polkadot and the sister network of Moonriver, about 6,000 network participants locked up over 200,000 KSM in the crowdloan for auction.
In total, Moonriver will be the third parachain on Kusama as an experimental parachain Statemine and Acala’s sister network Karura parachain is already live on Kusama network. The team is now gearing up to deploy the Moonriver parachain on Kusama and will allow teams to launch Ethereum-compatible projects on Kusama Network.
Public auctions for Kusama parachains slots started on June 15. As Crypto Economy reported, the first auction ended on June 22, and Acala’s sister network Karura was the winner. With that, the Karura network became the first parachain on Kusama and is producing blocks on Kusama Relay Chain.
According to the schedule, the auction for the third parachain has also started on Tuesday, June 29, and will end on July 7th. 11 projects are in the race to win the third parachain slot and according to Polkadot.js, Shiden Network currently is now leading the race with nearly 100,000 KSM locked.
After the third parachain slot auction, two more consecutive auctions will be conducted to complete the first batch of parachains Kusama. After the first batch, there will be a pause for evaluation of overall network performance before the second batch of five auctions begins in a similar schedule.
Parachains are purpose-built blockchains, mostly built using Polkadot’s Substrate SDK, that will run in parallel on Polkadot and Kusama’s central Relay Chain. Each parachain will provide the specific functionality as Relay Chain itself does not provide significant activity other than providing security and processing the consensus mechanism.
But parachain slots for both Polkadot and Kusama Network are limited to about 100 and therefore, the teams have to compete in a slot auction to win a parachain slot. These slots will be leased to projects for a limited amount of time: 48 weeks for Kusama and 2 years for the main Polkadot Chain.
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