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Stake Kusama on Gate.io & Earn 10% APR

2021-01-15 13:15:52Read:13995 Tags:

As part of our effort to support Polkadot eco, Kusama (KSM) PoS Mining & Earn #2 has been launched on Gate.io HODL & Earn. The annual interest rate is 10%, which will be adjusted based on the amount of token mined. Web users can use the link to purchase - https://gate.io/hodl/289, while app users can use HODL & Earn.

The participation rules are stated below.
1) To take part in PoS & Earn, users need to register themselves. However, token lock-up is not required
2) There is no handling fee being charged by Gate.io
3) The annual interest rate is 10%, which will be adjusted based on the number of tokens mined
4) The interest will be calculated based on the average amount of tokens in a position over a 14-day period, excluding the borrowed tokens
5) The interest will be distributed every 14 days
6) To continue to participate in the program, users need to operate manually

Introduction to Kusama
Launched on August 23, 2019, Kusama is a canary network for Polkadot experiments. Kusama is an early, unaudited and unrefined release of Polkadot. It will serve as a proving ground, allowing teams and developers to build and deploy a parachain or try out Polkadot’s governance, staking, nomination and validation functionality in a real environment.

Gate.io’s ‘HODL & Earn’ belongs to a series of crypto-asset management tools that guarantee a stable profit with less risk. With Gate.io’s ‘HODL & Earn,’ users can earn interest with temporary or fixed deposits. We will also launch asset management tools with major cryptocurrencies such as BTC and USDT, providing more ways for users to gain interest.



As part of our effort to support the Polkadot & Kusama eco, Gate.io will add support for Polkadot & Kusama Parachain Slot Auctions. Users will be able to participate in slot auctions and earn rewards at Gate.io’s HOLD&Earn with just a few clicks.

We have already announced the effectively zero trading fee policy for upcoming Polkadot projects listing. Read more at: https://www.gate.io/en/article/18779
Also, we have DOT flexible staking product on Gate.io’s HODL&Earn, with an estimated reward of 9% APR(https://www.gate.io/hodl/287), and KSM staking product, with estimated reward of 10% APA( https://www.gate.io/hodl/289)

What are Polkadot Parachain Slots
The Polkadot Parachain Slot is what connects a parachain to the Polkadot relay chain. The Polkadot uses parachains to connect to other blockchain projects to achieve increased TPS. The Relay Chain is the central chain of Polkadot, it validates parachains and provides consensus and security to the network. To remain connected to the Relay Chain, parachains must win a parachain slot auction to secure a slot for a particular length of time.
To better understand their relationships, you can see the slot as a power strip, the parachains appliances and the relay chain the circuit. The appliance needs a power strip to connect to the circuit.

Why use Slots?
The Polkadot relay chain can not maintain a shared security among massive parachains due to limited resources. The slots are introduced as entry tickets for parachain to connect to Polkadot. The slots are in a finite number which start low at genesis and increase over time. To use a slot, one must win a parachain slot auction and deposit some DOT tokens for a fixed term.

How to participate in a slot auction?
Parachain slots are offered under an unpermissioned Candle-auction. Initially, the auction is held once every 2 weeks with 4 parachain slots to be offered. It is worth noting that the auction is not a permanent sale , it is a two year’s lease time split into 6-month lease periods. Bidders that can maximize the DOT deposits over the entire two-year period will win .


Example: Bidder A, Bidder B, Bidder C participate in an auction for one slot. A bids to deposit 65 DOT for the entire 4 periods; B bids to deposit 100 for the first two periods; C bids to deposit 40 Dots for the final two periods.
If A wins, B and C lose. A total of 260 DOT will be held on deposit for four periods.
If B and C win, A loses. A total of 280 DOT will be held on deposit for four periods

Based on the maximum deposits rule, B and C win and A loses.


Gate.io Team
January 15, 2021

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