Coretime trading on Kusama has started Parachain timeline begins

Author: PolkaWorld

Kusama starts Coretime sales

On April 18, with the passage and execution of Kusama referendum 373, the proposal upgraded the Kusama relay chain runtime to v1.2.0 and brought Coretime functionality. https://kusama.polkassembly.io/referenda/373

Following this, the community passed Kusmaa referendum 375 last Friday, allowing the Coretime chain to start Coretime sales. https://kusama.polkassembly.io/referenda/375

Currently, Kusama is in the Renew Period, which means that bulk cores are being sold!

https://www.lastic.xyz/kusama/bulkcore1

Renew Period means that projects that already have core time can renew their core time at a certain price (possibly a preferential price) during this stage. It is usually for existing projects that want to continue their service or resource usage rights. This period has a fixed block length (interlude_length) during which projects can renew. This price is fixed and has some discounts.

After the renewal period, it enters the sales period (Sale), which is the period of on-demand purchase, which includes two stages: price discovery (Dutch auction, an auction with decreasing prices over time) and fixed price.

That is, each Coretime sale has three stages:

• Renewal period: those who have purchased Coretime can renew

• Price discovery period: the price gradually decreases linearly from the initial price

• Fixed price period: the price is fixed at 5 KSM

For more details, please see the Polkadot wiki: https://wiki.polkadot.network/docs/learn-agile-coretime-index

Kusama Parachain Auction Stopped

Agile Coretime brings a more flexible and dynamic way to manage blockchain resources.

Coretime refers to the allocation of block space and computing time required for parachains to run on the Kusama network. Agile Coretime provides more flexible purchasing options, such as pay-as-you-go or monthly payments, to better adapt to project needs. This flexibility is critical for startups and experimental projects that need scalability.

With the launch of the Agile Coretime sale, the resource allocation landscape on Kusama has changed. Parachain auctions have stopped, and existing parachains on the relay chain and future parachains will:

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• Existing parachain leases will automatically migrate to bulk coretime. Leases that have not yet started will be canceled and locked KSM will be refunded.

• Existing parachains can use the core time renewal feature to continue to allocate bulk core time to their cores without going through the regular purchase process.

How to Buy and Manage Core Time

Agile Coretime can be traded and managed through the Coretime Marketplace Lastic: https://www.lastic.xyz/kusama/.

Compared to the previous parachain leasing period, platforms like Lastic have a simpler and easier-to-use user interface that can be used even by people who are not familiar with blockchain technology.

Lastic supports Subwallet, Talisman, Nova Wallet and Polkadot-JS Extension wallets. After connecting the wallet, select the account used to purchase coretime.

Then in the "Transfer Assets" page, you can also use XCM to cross KSM from the Kusama relay chain to the Coretime parachain of Kusama.

In the Sale stage, click the "Buy core" button, sign and broadcast the transaction, and the purchase of Coretime is completed.

In addition to purchasing Coretime, you can also manage how Coretime is used on Lastic, for example:

• Transfer Coretime to another account

• Specify Coretime for a parachain

• Split Coretime

• Change the block frequency

• Assign tasks to Coretime

Summary

The successful launch of Agile Coretime on the Kusama network marks a major innovation in the way blockchain resources are managed, making resource allocation more efficient and enabling the network to better adapt to changing technology and market needs. In addition, the Coretime sales on Kusama will also provide valuable experience for Polkadot.