SherpaX Kusama Slot Auction Incentive Plan

Users who support ChainX in slot auctions are rewarded with 10KSX for every 1 KSM voted;

2. Additional bonus:

Additional bonuses of varying proportions are handed out to users according to the amount of locked KSM they each have:

1) Lock-up bonus: The higher the amount, the greater the bonus. The following lists the locked amount of KSM in correspondence with the bonus proportion:

2) Invitation bonus: Users who support SherpaX in slot auctions via OKex stand ready to claim an additional bonus of 5%. That is to say, users can enjoy a maximum bonus of 45% which is composed of 40%(lock-up bonus) + 5% (invitation bonus);

3. Rewards for auction gaps:

If SherpX fails a slot auction, users who support that auction choose not to withdraw the locked amount, but continue to lock up for the coming auctions will get gap rewards which are one additional KSX for every KSM in each auction cycle. By introducing this, users’ interests are well ensured and protected.

For example, let’s say you support SherpaX in the Nth slot auction with 100 KSM in lockup, and at last, SherpaX secures the Mth slot, then you will get 100* (M-N) KSX as auction gap rewards.

ChainX, the earliest launched project in Polkadot’s ecosystem, is committed to the research and application of Bitcoin layer 2 expansion, digital asset gateway and Polkadot second-layer relay chain, to realize cross-chain asset exchange, leading the new direction of Bitcoin Cross-DeFi.

Website | Github | Wallet | Twitter | Medium | Telegram | White paper

ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store