Polkadot Auctions and Crowdloan

Polkadot Auctions and Crowdloan

Setup

1. Start your relaychain as usually

2. Go to Developer->Extrinsics, and use the method register to register a parachain for a account. In this tutorial, we choose the accout Alice.

3. First, use register.reserve() to register a ParaID for this accout.

   Go to Network->Explorer to see the new block.Your paraID will be included in the latest occurrence

4. Then use this ParaID to register a parachain for this account, like this:

   Here, genesis_head and validation_code are the same in this tutorial Manta Parachain Testing: Manta/docs at manta-pc · Manta-Network/Manta (github.com)

5. You can see the result here Network->Parachain->subpage: parathread. Register some parachains for other accounts as the same.

Crowdloan

Go to the page Network->Parachain->Crowdloan to start a new crowdloan. Click the button Add fund to start it.

Here, cap means your target of this crowdloan. first_period and last_period means the period of the lease you intend to bid on in a auction later. end block means end crowdloan when a future block is reached.

The result can see Network->Parachain->Crowdloan

Click Contribute to contribute for this crowdloan. The asset of the crowdloan will be transferred to a new account created by polkadot. When the auction for the corresponding lease starts, polkadot will automatically use the balances on these accounts to bid on the lease for crowdloaner.

Auctions

Start a auction with sudo , like this

Here, lease_period_index means the lease you want to start for auction. The system default auction lease is 8 period starting from the set lease of period. In the test, you can set lease of period of the auction coincide with the crowdloan lease so that the balances of the crowdloan will automatically participate in this auction. The system default auction lease is 8 period starting from the set lease of period.

For example, if you set a crowdloan for the lease 3-4. Then you can start auction with lease of period to 2 and 2-9 period of lease will be up for bid. And after auction start, you can see it in Network->Parachain->Auction:

Here are the current winners of the bidding.