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Parachains

Discover and support the projects that you would like to see win a Parachain slot during the Polkadot auction.

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Crowdloans available

The launch of the Polkadot Parachains is imminent. Just Mining is offering you the opportunity to participate in this event by supporting your favourite projects in their quest to obtain a Parachain slot. Below is the list of projects you can support on Just Mining. This list is expected to grow over the next few days until the crowloans launch in November. If your favourite project is not listed, please contact our team to see if it will be offered.

* Contributions can end before this date if the project wins an auction during the first 4 weeks of contribution

Frequently asked questions

Parachains are an interesting new investment opportunity for DOT holders. The information below will provide you with all the information you need to understand how this system works, its characteristics and the associated risks. We encourage you to read all of this information before investing. If necessary, our teams are available to answer your questions.

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What are parachains?

Parachains are secondary chains to an infrastructure blockchain, which can evolve into a dedicated slot within it.

Parachains have been implemented for the Polkadot and Kusama ecosystems.

Polkadot and Kusama are infrastructure blockchains that offer a technology foundation that can be leveraged by other projects. Projects intending to build on this foundation will need a Parachain slot within the Polkadot or Kusama blockchain infrastructure to deploy.

These slots are limited. To avoid inequality, Polkadot's teams have implemented an allocation system that you'll learn about below.

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How do the parachains work?

Thus, during a parachain auction, it is the DOT or KSM holders (depending on whether it is on Polkadot or Kusama infrastructure) who will choose the allocation of slots by depositing their DOT or KSM in favor of the project of their choice. For the Polkadot Parachute Auction, you - Just Mining customers - can place your DOT tokens on the project(s) you wish to support.

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Why participate in a parachain?

Participating in a parachain allows you to receive in return new tokens from the project you support, if it wins the auction. As an investor, this system allows you to position yourself early on young ambitious projects.

Note that the DOTs you place are not spent. They are locked in a smartcontract. They will be returned to you after the auction, if the project for which you have deposited your DOTs did not win the auction. Otherwise - in case the project for which you placed your DOTs won the auction - your DOTs will be returned to you after a blocking period (the period varies by project).

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How is the winner of the parachain determined?

At the end of the auction period, a specific time is randomly determined. The project with the most DOTs at this precise moment wins the auction.

Please note that once you have placed DOTs on a project, you cannot withdraw them during the auction, you must wait for the end of the blocking period previously foreseen by the project or the end of the auction if your project has not won the auction. Just Mining can in no way guarantee the success of the projects listed.

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What happens to my DOTs if the project wins the Parachain auction?

If the project on which you have positioned yourself wins the auction of the parachain, you will be eligible for the distribution of new tokens according to the rhythm previously defined by the project. Concerning your DOTs, they will be blocked for a predefined period. At the end of this period, they will be credited (in full) to your Just Mining wallet. The maximum blocking period is known before the start of the parachain auction.

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What happens to my DOTs if the project does not win the Parachain auction?

If the project on which you have positioned yourself does not win the auction, all your DOTs will be returned to your Just Mining wallet within 24 hours of the results.

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How much can I earn with parachains?

We cannot determine in advance the profitability associated with a successful Parachain auction. New tokens will be released by the projects that won the Parachain auction at a rate determined before the auction. They will be shared among all contributors who deposited their DOTs in favor of the project that won the Parachain slot. We cannot know in advance how many contributors will participate in the Parachain auction.

Similarly, we cannot know at what price the new token will be listed.

Financial gains at the end of the Parachain auction, will vary depending on the number of tokens distributed and the volatility of the prices of the tokens in question.

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How does Just Mining make money on the operation?

Just Mining is remunerated by keeping 5% of the new tokens issued by the project(s) that won the parachain. No fees are applied if the project did not win the parachain auction. In all cases, no fees will be applied on the return of your DOTs.

Ex: You deposited 50 DOTs in favor of project X. The project in question won the parachain auction. According to the distibution conditions of project X, with this level of contribution, you are eligible for 100 tokens. You will receive 95 tokens and Just Mining will keep 5. Your 50 DOTs will be fully credited to you at the end of the blocking period defined by the project.

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What are the risks of participating in a parachain event?

Participation in a parachain auction involves two things: holding DOT tokens and tying them up for a pre-determined period of time.

Thus, you must accept exposure of your capital to the volatility of the DOT during this period.

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Can I participate in several parachains?

Yes, it simply involves having multiple DOTs.

A DOT can only be filed in support of one project.

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In case of success, what happens to the distribution of the tokens?

Just Mining applies a pro-rata distribution system. In order to simplify operations, we will not take into account specific distribution characteristics (e.g. the first contributors to the auction receive more tokens).

Thus, in some special cases, you may receive less tokens via Just Mining than by participating directly in the Parachain auction on your own.

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What is a crowdloan?

A crowdloan is a way for new projects to get support from its community through the allocation of DOTs in order to win a parachain site. The term can be misleading, as you are not actually "lending" funds to projects. Your DOTs are simply tied up over a longer or shorter period of time depending on the outcome of the auction.

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Do you have any questions about Parachains? Check out our FAQ or contact our support