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Altair Network Has Joined the Kusama Network as 10th Parachain

Altair Network Has Joined the Kusama Network as 10th Parachain


Altair Network has joined the Kusama Network as the 10th parachain as it was announced the winner of 9th parachain slot auction.

According to Kusama’s official Twitter handle, over 11.2K network stakeholders helped the protocol to win the parachain slot by locking native KSM tokens. The data by Polkadot.js shows that these stakeholders locked 187,835.1767 or $62.17 million worth of KSM token given the price of $331 per KSM token.

Altair Network is now 10th overall parachain on Kusama blockchain and 9th real-world parachain. The announcement reads:

“Welcome to the cₐₒ @altair_network!

After winning the 9th parachain auction, Altair is now being onboarded as my 10th parachain [9-auction winning parachains, plus #Statemine]. Over 11.2K network stakeholders locked up KSM in favor!”

Altair Network follows Basilisk Finance which, as reported, won the 8th parachain slot auction last Wednesday, September 22. With this, 10th parachain slot has now been leased to the protocol for the next 48 weeks.

With the conclusion of 9th auction, race for 10th Kusama parachain slot has also started in which 12 are participating. This will be the last auction for the second batch of parachains. But the important development is that there will no be no pause for 11th auction. 11th slot auction will begin immediately after the conclusion of ongoing 10th auction next Wednesday, October 6, 2021.

This is important because after the conclusion of 1st batch of five auction there was a pause to evaluate the performance of the network. The same process was also announced the second batch but the team has decided to go on with the 11th auction without any pause. Kusama announced:

“A little birdie told me a motion will be opened next Wednesday, October 6th (at the end of auction 10) to immediately begin an 11th auction that same day. Turns out there’s enough buffer time for a potential 11th auction to take place before the current lease period ends.”

The team added:

“After consulting with the development team, some of my council members have concluded that a new lease being locked for overall security is reason enough to open a new auction.”

What is Altair Network?

Altair Network is the canary of Centrifuge, just like Kusama is of Polkadot. The protocol aims to provide the much-needed avenue of tokenizing and unlocking liquidity of real-world assets from the Kusama ecosystem. The website describes Centrifuge and Altair as:

“Altair combines the industry-leading infrastructure built by Centrifuge to finance real-world assets (RWA) on Centrifuge Chain, with the newest experimental features — before they go live on Centrifuge Chain. Even once Centrifuge is fully live on Polkadot, Kusama will be used for minting art NFTs, financing undiscovered assets, and whatever else the Kusama community brings to the table.”





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