Thread by @asiahodl

$KSM is up +25% today. How do you follow the Crowdloan race for #Kusama?
$150 million was raised in 1 day. Polkadot forces projects to generate a community from Day 0, instead of relying just on VCs.

1) "Leases 13-20": 8 slots x 6 weeks = 48 weeks parachain duration

👇🏻👇🏻👇🏻

2) "Ending": There are 5 consecutive one-week auctions, 1 per week. If the project doesn't win in 43 days, then the $KSM is return to the community automatically. There will be a pause to stablized the network or even start @Polkadot's auctions

3) "Cap": Needs to be high enough to attract a sizeable community and provide sufficient rewards. For example, @AcalaNetwork is setting aside 20% of their tokens for the crowdloan @ 1.5M $KSM cap.

4) "Total Cap": In case of irrational markets, the cap prevents all of $KSM to be allocated to the Crowdloans -- which would be a security risk.

@AcalaNetwork is leading by >4x of @Plasm_Network. More contenders will likely join.

h/t @WilsonWithiam @danreecer_ @bettechentt

5) "Leases 13-20": Recall that slots 1-12 were used for testing and the common goods parachain. Projects can bid for just 1 slot (just 6 weeks) but none are looking for that right now.
Expect initial auctions and those near Lease 90-100 to be hotly contested.