Stake Kusama on Gate & Earn 10% APR

As part of our effort to support Polkadot
eco, Kusama (KSM) PoS Mining & Earn #2 has been launched on Gate
HODL & Earn. The annual interest rate is 10%, which will be adjusted
based on the amount of token mined. Web users can use the link to
purchase - https://gate.io/hodl/289, while app users can use HODL &
Earn.



The participation rules are stated below.

1. To take part in PoS & Earn, users need to register themselves. However, token lock-up is not required
   
2. There is no handling fee being charged by Gate
   
3. The annual interest rate is 10%, which will be adjusted based on the number of tokens mined
   
4. The interest will be calculated based on the average amount of
   tokens in a position over a 14-day period, excluding the borrowed tokens
   
5. The interest will be distributed every 14 days
   
6. To continue to participate in the program, users need to operate manually
   
   
   
   Introduction to Kusama
   
   Launched on August 23, 2019, Kusama is a canary network for Polkadot
   experiments. Kusama is an early, unaudited and unrefined release of
   Polkadot. It will serve as a proving ground, allowing teams and
   developers to build and deploy a parachain or try out Polkadot’s
   governance, staking, nomination and validation functionality in a real
   environment.
   
   
   
   Gate’s ‘HODL & Earn’ belongs to a series of
   crypto-asset management tools that guarantee a stable profit with less
   risk. With Gate’s ‘HODL & Earn,’ users can earn interest with
   temporary or fixed deposits. We will also launch asset management tools
   with major cryptocurrencies such as BTC and USDT, providing more ways
   for users to gain interest.
   
   
   
   
   
   
   
   As part of our effort to
   support the Polkadot & Kusama eco, Gate will add support for
   Polkadot & Kusama Parachain Slot Auctions. Users will be able to
   participate in slot auctions and earn rewards at Gate’s HOLD&Earn
   with just a few clicks.
   
   
   
   We have already announced the effectively zero trading fee policy for upcoming Polkadot projects listing. Read more at: https://www.gate.com/en/article/18779
   
   Also, we have DOT flexible staking product on Gate’s HODL&Earn,
   with an estimated reward of 9% APR(https://www.gate.com/hodl/287), and
   KSM staking product, with estimated reward of 10% APA( https://www.gate.com/hodl/289)
   
   
   
   What are Polkadot Parachain Slots
   
   The Polkadot Parachain Slot is what connects a parachain to the
   Polkadot relay chain. The Polkadot uses parachains to connect to other
   blockchain projects to achieve increased TPS. The Relay Chain is the
   central chain of Polkadot, it validates parachains and provides
   consensus and security to the network. To remain connected to the Relay
   Chain, parachains must win a parachain slot auction to secure a slot for
   a particular length of time.
   
   To better understand their
   relationships, you can see the slot as a power strip, the parachains
   appliances and the relay chain the circuit. The appliance needs a power
   strip to connect to the circuit.
   
   
   
   Why use Slots?
   
   The
   Polkadot relay chain can not maintain a shared security among massive
   parachains due to limited resources. The slots are introduced as entry
   tickets for parachain to connect to Polkadot. The slots are in a finite
   number which start low at genesis and increase over time. To use a slot,
   one must win a parachain slot auction and deposit some DOT tokens for a
   fixed term.
   
   
   
   How to participate in a slot auction?
   
   Parachain slots are offered under an unpermissioned Candle-auction.
   Initially, the auction is held once every 2 weeks with 4 parachain slots
   to be offered. It is worth noting that the auction is not a permanent
   sale , it is a two year’s lease time split into 6-month lease periods.
   Bidders that can maximize the DOT deposits over the entire two-year
   period will win .
   
   
   
   
   
   Example: Bidder A, Bidder B, Bidder C
   participate in an auction for one slot. A bids to deposit 65 DOT for the
   entire 4 periods; B bids to deposit 100 for the first two periods; C
   bids to deposit 40 Dots for the final two periods.
   
   If A wins, B and C lose. A total of 260 DOT will be held on deposit for four periods.
   
   If B and C win, A loses. A total of 280 DOT will be held on deposit for four periods
   
   
   
   Based on the maximum deposits rule, B and C win and A loses.
   
   
   
   
   
   Gate Team
   
   January 17, 2021
   
   
   
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