Polkadot and Kusama parachains are getting their own crowdloan marketplace

As developers and users begin to explore parachains, Polkadot and Kusama parachains are getting their own crowdloan marketplace, this is one of the first pieces of real-world use demonstrating how they might fit into the crypto ecosystem.

A new marketplace will soon be launched in the Polkadot network. The marketplace will enable token holders to lend money and will be available to all projects that issue an ERC-20 token. The crowdloan marketplace is a new project from the L4 labs that plan to launch in the network of Polkadot. The marketplace plans to enable small businesses and entrepreneurs to borrow money from the network of Polkadot and will make it available to all projects that issue an ERC-20 token. ~ ~ ~ Final Thoughts: The goal of these paragraphs is to give you a bit of an idea about how to write a blog introduction for different types of blogs. There is no one way to do so, and it can be

Decentralized swap exchange Bounce Finance will be the first platform to auction Polkadot (DOT) and Kusama (KSM) parachutes, the company said in a statement today.

Bounce is the first decentralized marketplace where @Polkadot and @kusamanetwork crowdfund #parachain via auction.

More information will be announced in the coming days, along with the first candidate projects.

Learn more about #medium: https://t.co/AUz6U4L28G

$AUCTION $DOT $KSM pic.twitter.com/Ia0Grpcyhi

– Bounce (@bounce_finance) April 30, 2021

Need for revival

Polkadot and Kusama are scalable multi-channel networks that theoretically provide high throughput for projects running on their channels.

Users can manage their own blockchains – called parachains, not just tokens like Ethereum – and these teams benefit significantly from Polkadot’s enhanced management, security and collaboration capabilities.

The number of these parasites is limited to 100, meaning that all slots are subject to a community-driven auction process (which decides which project fits into the overall ecosystem).

To obtain a slot, the Parachute candidate must purchase it in a candle-less auction, a type of auction with an unknown end time, via a DOT bid or a KSM token.

Each of Parachain’s 100 available slots is divided into four six-month rental periods, and projects can apply for one or more periods depending on their needs.

And with around 400 projects under construction, besides Polkadot and Kusama, this leads to a shortage of sites in Parashan. This is exactly the problem that Bounce Finance wants to solve.

Decentralised Crowdlands

Candidate projects can post their own DOT or KSM tokens and/or encourage community members to use the DOT or KSM blockchain through crowdfunding.

Community members who participate in crowdfunding for a project they support lock in their DOT or KSM for 6, 12, 18 or 24 months and receive rewards in the form of project tokens and/or other incentives.

Therefore, to attract crowdfunding, project teams need to consider these opportunity costs and offer appropriate incentives. Currently, crowdfunding is offered through centralized exchanges and there is counterparty risk for participants.

Bounce Finance solves this problem, as the decentralized crowdfunding solution offers crowdfunding loans while eliminating third-party risk. The project thus became the precursor to the decentralized crowdfunding sites Kusama and Polkadot.

The first candidate projects and further information on participation will be announced in the coming days.

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