Kraken is thrilled to announce support for upcoming parachain slot auctions on the Polkadot network. We’ve already empowered clients to participate in Kusama’s growing ecosystem via parachain auctions — so far resulting in over $35 million contributed in 2021.

Clients looking to support the bids of their favorite Polkadot projects will be able to do so directly from the Kraken platform with as little as 5 DOT. 

Parachain auctions are Polkadot’s mechanism for determining which blockchain projects (or parachains) can join the Polkadot network. DOT token holders can bond their tokens to their favorite projects and the project with the most tokens bonded at a randomly selected point in the auction period, which is determined after the auction period ends, is granted a parachain slot. 

By participating in parachain auctions with Kraken, you’ll enjoy our world-class security and seamless exchange integration. Kraken helps keep your funds safe and accessible while you help build the blockchain ecosystem of the future. 

Our streamlined Parachain Auction dashboard will help keep you up to date on the latest Polkadot auctions once the auctions are live and allow you to participate with just a few clicks.

Check out our FAQs to learn more about parachain auctions on Kraken and stay tuned for more announcements around the November 11th launch date!

 

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Please Note: Parachain auctions are not available to residents of the United States, Canada, Japan and Australia. Only verified Intermediate accounts and higher are eligible to participate in the Parachain Auctions. Get verified now.

Participate with caution: Kraken does not guarantee, and does not assume any responsibility for, the acts or omissions of any parachain auction candidate (“Candidates”), the performance of their products or services, or the performance of the Polkadot network. This includes any aspect of the Parachain Slot Auction process; any aspect of a Candidate’s Parachain Slot Auction bid; the amount, functionality, value, or date of delivery of rewards for participation in a parachain slot auction; and your ability to reclaim any DOT you contribute in a Parachain Slot Auction. The descriptions of Candidates and the Parachain Slot Auction process are based on information provided by third parties, may not be accurate, and are subject to change. 

Kraken does not recommend that you support, and does not endorse, any specific Candidate or Parachain Slot Auctions in general. Before participating in a Parachain Slot Auction, you must understand the risks and determine that such participation is appropriate for you. See our Terms of Service for more information.