Kraken to Add Parachain Auction Service Next Month

The innovation will allow investors to participate directly in auctions, receiving rewards on Polkadot and Kusama. You will need to bet directly on the stock exchange

Kraken developers are currently waiting for the KSM and DOT team to activate the auction option. Once it is launched, the exchange automatically integrates the service into its platform. This innovation will lead the exchange to the leaders among other trading platforms.

Let’s talk more about the possibilities of auctioning. Polkadot and Kusama plan to combine a hundred parachutes into a single chain. However, since the number of slots in the chain is limited (only 100), teams of projects working in these blockchains will have to bid at auction against each other.

To win the auction, some teams launched crowdsales. Among them are companies such as HydraDX, Acala, Moonbeam, etc. The innovation of these crowdsales is that fundraisers must link their KSM or DOT to crowdfunding projects they support. If they win this auction, they will receive parachain tokens.

For participants, this process can be complex, as you need to create a new wallet, transfer KSM or DOT to it and do a number of other actions. If you use Kraken, the process is simplified.

You will be able to place bets directly from the exchange in one click. It’s profitable, convenient and fast. Therefore, many are waiting for the exchange to introduce an auction of parachains on its platform. Let’s see what happens!

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