The Top 5 Contenders For Kusama Parachain Auctions – Batch 2

The second batch of Kusama’s five parachains is up for grabs and crypto projects willing to leverage Kusama blockchain’s scalability and cheap transactions are not shying away from offering significant rewards to contributors who loan KSM for crowdloan campaigns.

In this article, we will discuss what projects are eyeing those precious Kusama parachains and what rewards they are willing to offer to individuals who partake in their crowdloan campaign by loaning their KSM.

For the uninitiated, the first 5 parachains on Kusama were bagged by Karura (KAR), Moonriver (MOVR), Shiden Network (SDN), Khala Network (PHA), and Bifrost (BNC).

The high level of enthusiasm and excitement during the first parachain auctions has further raised interest in the current auctions with competition between projects expected to be fiercer seeing the kind of rewards the projects are willing to offer.

So, without further ado, let’s discuss the top 5 potential contenders to win parachains 6-10 on Kusama.

KILT Protocol

KILT Protocol (KILT) defines itself as “a blockchain protocol for issuing self-sovereign, verifiable, revocable, anonymous credentials” to enable trust market business models for Web 3.0.

Inarguably, KILT’s crowdloan is the most popular one as the blockchain has taken 3.5 years in the making and promises to change the way people use online identities for good.

KILT Protocol is being developed by BOTLabs GmbH which was founded by Ingo Rube and the German publishing house Hubert Burda Media in January 2018.

As for the rewards for the parachain, KILT is offering 25 KILT tokens for every KSM donated. While the protocol itself looks extremely promising considering the caliber of people involved, KILT’s tokenomics might not be the best in terms of the proportion that has been reserved for the crowdloans.

Out of a total maximum supply of 290 million KILT, about 4.5 KILT coins are set aside in the crowdloan reserve.

At the time of writing, KILT has already hit its maximum crowdloan cap of 220,000 KSM and secured the 6th parachain for itself.

Calamari Network

Calamari Network (KMA) is the canary-net of Manta Network that will eventually be launched on Polkadot once DOT parachain auctions hit the market.

Calamari utilizes zk-Snarks to bring on-chain privacy to transactions and swaps and aims to become the de-facto privacy layer for the entire Kusama ecosystem.

Accordingly, Calamari is offering as much as 10,000 KMA for every KSM contributed.

Essentially, Calamari aims to be community-oriented and has set aside a massive 30% of its total KMA coin supply as crowdloan rewards.

This means that should Calamari hit its crowdloan cap, 3 billion out of 10 billion KMA will be distributed among the crowdloan participants.

In terms of tokenomics set aside for the crowdloan, Calamari is by far the best option in terms of the proportion of rewards received for every KSM loaned.

At the time of writing, Calamari has raised about 216,000 KSM and looks primed to win the 7th parachain on Kusama.

Basilisk

Basilisk (BSX) defines itself as the liquidity protocol built for Kusama aiming to provide frictionless liquidity to long-tail crypto assets. It came extremely close to winning the 5th parachain during the first batch of auctions, only to lose to Bifrost at the very last moment with the thinnest of margins.

In the current batch, Basilisk has opened its crowdloan campaign right from day 1 and at the time of writing, has managed to accumulate more than 170,000 KSM from its community.

Basilisk is offering a total of 15,000,000,000 BSX or 15% of the total BSX supply as crowdloan rewards to KSM contributors. In addition, it is also distributing some amount of HDX — the native coin of the Hydra protocol that will launch on Polkadot – to compensate for the opportunity cost incurred by KSM donors that they could have covered by staking KSM.

With a crowdloan cap of 222,222 KSM, things are looking bright for Basilisk’s crowdloan campaign. Assuming Basilisk continues to gain traction in the same way, it looks ready to bag parachain number 8 on Kusama.

Altair

Aiming to bring real-world assets into the digital realm, Altair (AIR) defines itself as “the home for financing assets on Kusama Network powered by Centrifuge.”

Put simply, Altair allows people to push the envelope in terms of asset financing in that users can tokenize and finance virtually all real-world assets, ranging from art, real estate, bills, and others.

Just like the aforementioned parachain hopefuls, Altair is also offering attractive rewards to people who loan their KSM to the project for 48 weeks.

For every 1 KSM loaned, crowdloan participants, will be rewarded with 400 AIR coins. In total, Altair has set aside an attractive 18% of the total AIR coin supply for crowdloan participants which ensures that Kusama holders get a substantial stake in the Altair network.

What’s more, participants who donate at least 10 KSM for Altair’s campaign will also be eligible to receive a special surprise bonus, the details of which are yet to be disclosed.

Heiko

Heiko is Parallel Finance’s Kusama-based decentralized money market protocol that provides a wide swathe of DeFi services such as lending, borrowing, staking, and others on Kusama.

According to a recent announcement, Heiko is working toward developing a robust DeFi platform to boost capital efficiency, security, and accessibility to digital assets via its leverage staking and auction lending platform.

In terms of crowdloan rewards, 5% of the total HKO supply will be distributed to KSM contributors. The project is aiming to raise a maximum of 200,000 KSM and will reward a maximum of 500,000 HKO tokens as a reward to all the crowdloan participants.

At the time of writing, Heiko has amassed a healthy 39,000 KSM and looks ready to battle it out with Polkasmith for the 10th Kusama parachain.

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