Written by Nancy
The long-awaited Polkadot parachain slot auctions are finally about to begin. With the approval of Proposal 39, Polkadot will kick off its first auction event on November 11. Judging from the two rounds of parachain auctions on Polkadot's canary network Kusama, the competition for Polkadot slots promises to be even fiercer.
On October 13, as Interlay's testnet Kintsugi secured the final seat in the second auction by locking nearly 200,000 KSM tokens, Kusama's slot auction spectacle temporarily concluded. The timing for the next round will be determined by council vote after observing network performance.
Kusama now hosts 12 live parachains. Beyond Statemine (which received a free slot via governance), projects like Karura (Acala's testnet), Moonriver (Moonbeam's testnet), Shiden (Plasm's testnet), Khala Network (Phala Network's testnet), Bifrost, KILT Spiritnet, Calamari (Manta's testnet), Basilisk (HydraDX's testnet), Altair (Centrifuge's testnet), Heiko (Parallel's testnet), and Kintsugi (Interlay's testnet) have all won slots through auctions.
For Polkadot ecosystem projects, securing a parachain slot means accessing shared security, cross-chain interoperability, and on-chain governance while enabling multi-service integration. How have these pioneers progressed since winning Kusama's scarce resources? Focusing on the first batch of slot winners, we observe that core functionalities are gradually being deployed across all projects three months post-auction.
Karura (Acala's Testnet)
As the first project to secure a Kusama parachain slot, Karura serves as DeFi infrastructure Acala's canary network, offering:
- Liquid staking derivative LKSM
- Multi-collateral stablecoin kUSD
- Automated market maker Karura DEX
Key Stats:
- 501,137 KSM locked during auction
- Lease period: September 3, 2021 - May 19, 2022
- TVL: $300M+ (DeFi: $120M+)
- 125M+ kUSD minted
- 150K KSM bridged ($53.48M value)
Recent Milestones:
- Launched Kusama's first DEX (Karura Swap)
- Enabled KSM as primary kUSD collateral
- Integrated XCM cross-chain messaging
- Partnered with Blockdaemon for infrastructure
👉 Explore DeFi opportunities on Karura
Moonriver (Moonbeam's Testnet)
This Ethereum-compatible smart contract platform enables developers to build interoperable Substrate-based applications efficiently.
Key Stats:
- 205,935 KSM locked
- Lease period: September 4, 2021 - May 20, 2022
- 135K+ wallet addresses
- $98M+ TVL (Rank #32 on DeFi Llama)
Progress Highlights:
- Completed full EVM compatibility
- Distributed 1M MOVR tokens for liquidity incentives
- Partnered with 20+ projects (NFTs, DEXs, DAOs)
- Maintains 48 active collator nodes
Shiden (Astar's Testnet)
Kusama's multi-chain dApp layer supports EVM, WASM, and Layer2 solutions for DeFi/NFT/gaming applications.
Developments:
- Launched Shibuya testnet
- Transitioned from PoA to PoS
- Preparing NPoS transition
- $30M ecosystem growth fund established
Khala Network (Phala's Testnet)
This privacy-preserving cloud computing network has progressed through four developmental phases, now in its "Holocene" stage.
Current Status:
- 15,052 Secure Workers online
- 67.95M PHA staked
- Implemented Ethereum-Khala bridge
- XCMP cross-chain functionality upcoming
Bifrost
Specializing in liquid staking derivatives, Bifrost has become a key infrastructure provider for parachain auctions.
Notable Achievements:
- Ranked #4 in Polkadot dev activity
- Launched vsKSM/vsBond mining
- Integrated SALP for auction liquidity
- Enabled cross-chain transfers with Statemine
FAQ Section
Q: When will Polkadot's parachain auctions begin?
A: The first auction starts November 11, 2021 following Proposal 39 approval.
Q: What advantages do parachain slots provide?
A: Shared security, cross-chain interoperability, and integrated governance capabilities.
Q: How can users participate in parachain auctions?
A: Typically by bonding tokens to support projects during crowdloan campaigns.
Q: Which Kusama projects show strongest growth?
A: Karura and Moonriver currently lead in TVL and ecosystem development.
👉 Stay updated on parachain developments
Disclaimer: This content is for informational purposes only and does not constitute investment advice.