Litentry this week: Kusama Slot Auction, Encointer and more

💚 Yes, we will participate in the Kusama auction

🔴 Kusama first slot auction: what does it tell us?

  • The community fundamentally still lacks confidence in the participant projects. Due to the complex economic interests involved, the slot auction is like a touchstone — the community will vote for the projects if they show confidence in them, but if not, it is very difficult for projects to raise KSM.
  • KSM is too expensive now for token holders to bear the risk of staking. Individual participants will consider the risk of buying KSM at this moment. Because KSM has risen at a great scale, people see great risk in the market if they stake the tokens. Besides, those who hold a good number of KSMs now must have bought them at a time when the price was relatively low, so even though the market price of KSM has come down in the past few weeks, these holders still have a huge profit margin, and they must consider the huge loss brought by a potential falling market.
  • For Kusma validators, the validator work itself is profitable enough for them, even without staking the KSM in crowdloans to support the projects.
  • The bright side is that now it is no longer necessary for projects to pay so much to get a slot. Generally speaking, it needs 50K KSM to win a slot. As the price goes down, those projects would spent less than they needed to earlier on, which was millions or even tens of millions of dollars.

🤝 Zoom with Encointer: DID in universal basic income

⛓ Testnet: Merkle airdrop runtime, SubstraTEE

  • Finished Merkle airdrop runtime implementation
  • Discussion and preparation of SubstraTEE pallet
  • Fixed a generate block issue in pr-review
  • Prepared code review for builder program

🛠 Misc

  • SGX hardware
  • Supported token migration
  • Refactored and supported Twitter-linker
  • Setup Chainbridge Keystore
  • Setup Job management tool
  • Deployed ansible-playbook
  • Setup playbooks for installation rust, nodejs and mongodb

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