{"id":42266,"date":"2021-11-10T08:30:00","date_gmt":"2021-11-10T07:30:00","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=42266"},"modified":"2021-11-10T08:30:00","modified_gmt":"2021-11-10T07:30:00","slug":"polkadot-parachain-auctions-will-commence-on-thursday-nov-11-2021","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/polkadot-parachain-auctions-will-commence-on-thursday-nov-11-2021\/","title":{"rendered":"Polkadot Parachain Auctions will Commence on Thursday, Nov.11, 2021"},"content":{"rendered":"

The Polkadot<\/a> ecosystem is all set to begin its new era as the Polkadot parachain auctions are going to start from tomorrow, Thursday, November 11.<\/strong><\/p>\n

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As Crypto Economy reported<\/a>, the Polkadot team announced the schedule in the previous month of October. According to motion 118 passed by the Polkadot Council in October, the auctions for the first batch of five parachains will begin on Thursday, November 11.<\/p>\n

To get things started, on November 5, a public referendum 41 was passed to deploy the Shell parachain on Polkadot, which is now producing blocks on the blockchain. The Shell is only a limited-capability parachain and only accepts messages from the Realy Chain to upgrade itself. On that same day, Polkadot\u2019s No.42 referendum was voted and the Parachain Slot Auction Crowdloan module was launched.<\/p>\n

The participating teams have opened their crowdloans for users to participate in these auctions. According to a blog post<\/a>, 9 teams will fight in the first auction to become the first real-world parachain on Polkadot.<\/strong><\/p>\n

These 9 teams include the DeFi hub of Polkadot Acala, Shiden Network\u2019s Polkadot chain Astar Network, Moonbeam, Decentralized Identity Aggregation protocol Litentry, Manta Network, Darwinia Network, Crust Network, Parallel Finance, and SubDAO.<\/p>\n

Almost all these have opened their crowdloan platforms. Acala has recently announced that over 55,000 community members have already contributed more than 10 million $DOT towards Acala’s bid in the first Polkadot parachain slot auction. Parallel Finance has also announced<\/a> that after 72 hours of its crowdloan launch, 20K contributors have contributed $100 million.<\/p>\n

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\u2728Over 55,000 community members have contributed more than 10 million $DOT<\/a> towards Acala's bid in the first @Polkadot<\/a> parachain slot auction.\u2728<\/p>\n

Thank you to the community for your support \u2013 let's make history!https:\/\/t.co\/Uuutl1CEco<\/a> pic.twitter.com\/T41GnDyirC<\/a><\/p>\n

— Acala (@AcalaNetwork) November 9, 2021<\/a><\/p><\/blockquote>\n