AMA: Kusama Parachains and Altair 16 June!

Kusama Parachain Auctions are Coming and Altair is Ready to Take Flight!

With Will Pankiewicz (Parity) and Cassidy Daly (Centrifuge)

Join our AMA Wednesday 16 June 18:00 CEST (12 EDT) to ask anything about Kusama with Will Pankiewicz, Master of Validators at Parity Tech, and Altair with Cassidy Daly designer of Altair (our bid for one of the first parachain slots) anything!

Kusama is a multichain network designed for radical innovation with unprecedented interoperability and scalability for blockchain developers who want to quickly push the limit. Built using Substrate with nearly the same codebase and multichain infrastructure as Kusama’s cousin, Polkadot.

:point_right: Sign up here

:point_right: Add to your calendar

:point_right: Zoom link

More info:
Polkadot has demonstrated a highly decentralised and inclusive staking system (anyone with as little as 1 DOT may take part in Polkadot’s staking system and be rewarded), and numerous upgrades to its core logic and open, functional governance. However it has so far existed only as a single chain in isolation. With the launch of parachain functionality, things are about to get super interesting!

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. From art NFTs to undiscovered assets — Altair enables users to tokenize their most experimental assets and finance them. Altair will bridge across the Kusama, Polkadot, and Ethereum ecosystems to allow assets to access financing wherever it is available.

AIR Rewards

For participating in the crowdloan, Altair will reward participants 50+ AIR : 1 KSM locked. The exact amount of AIR distributed to each KSM locked will depend on the price of the parachain slot and participation in the crowdloan.

:red_circle: Access all Centrifuge events

So what do you need to know?

Start by asking your questions below - all questions welcome :grinning:

Video recording of AMA:

00:00 - Introductions by Kate, Helena,Will, and Cassidy
05:00 - Will talks about Kusama, Parity, and the upcoming parachain auctions
23:15 - Cassidy discusses what Altair is, how to participate in the Altair crowdloan, and details regarding the Altair airdrop
33:40 - Community Question: Will discusses why Polkadot built Kusama and why an auction strategy was chosen
35:30 - Community Question: What is the difference between Altair and other projects on Kusama
38:25 - Community Question: Which type of assets would you like to see on Altair?
40:45 - Community Question: Why would I choose to stake my KSM with Altair rather than other auctions?
44:50 - Community Question: What do you think is the biggest benefit Altair will bring to Kusama network?
47:20 - Community Question: Will we see substrate-based dApps built on Altair? Will Tinlake move from Ethereum to Altair?
50:25 - Community Question: Are all Kusama parachains communicating with each other successfully?
51:43 - Community Question: Will AIR holders vote on features or assets on Altair? What will these votes be?
53:41 - Community Question: How does a non-holder of KSM and DOT participate? Can these assets be utilized in Tinlake?
56:55 - Concluding statements by Cassidy and Will

5 Likes

Nice! Looking forward to this. :clap:

FYI, 18:00 CEST is 11:00 CST … for those of you also in 'merica. :us:

Good point, Thanks Marcus, I’ll add that to the post :pray::v:

Hi Kate! In the Altair announcement is written “Tokens are also minted and rewarded to Tinlake participants in order to incentivize adoption”.

Does this mean Crowdloan participants will get AIR-tokens and in case they are Tinlake users at the same time will get an additional amount of AIR?
On the other hand will Tinlake users be rewarded with CFG+AIR-tokens for their investments in the pools?

Thanks!

5 Likes

Will coinlist buyers be taken into the AIR snapshot? Thanks

9 Likes

Yep had exact same query

  1. Like Tinlake DApp is built on ETH, which using Chainsafe was bridged to Centrifuge chain, will we see substrate built DApp feature being built on Altair to access liquidity across KSM/DOT ecosystem (Karura/Acala/others)?
  2. Altair being an experimental net, are we planning to have insurance pool feature deployed as an additional layer of protection/incentivize investor for investment in ecosystem? 3) It is specified once new experimental features are being tested on Altair, they would go live on CFG chain? Does than mean once all features are transferred to CFG chain, Altair will still be used for new experiments and not cease?
    Regards
    Pats
3 Likes

The Altair airdrop is 1CFG:1AIR , but I saw that only 61% of the AIR is reserved for on chain snapshot, shouldn’t it be 100% since total supply is same/roughly same for both tokens?

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Are we looking at integration with Fearless wallet ? If not please do look at it, best in class UI , natively built for ios and android, user friendly UI for staking and governance.

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Hello.

Few questions about Altair airdrop for Centrifuge hoders: 1:1

  1. Will coinlist option 1 receive $AIR tokens?

  2. Will coinlist option 2 receive $AIR tokens and will they be locked or unlocked?

  3. When snapshot for $CFG token holders will be taken?

5 Likes

Nice questions. I hope we’ll get some answers.

Cheers.!

3 Likes

As with other parachain crown loan - Altair will offer AIR token as an incentive for our KSM. Given AIR token is new and we won’t know how much they will be worth in 48 weeks time. What would you say to anyone who is looking to crowd loan so they stake their KSM with you?

Using CFG as a “guide price”, 50 AIR @ $0.55 is only $27.50. I understand the hope is to do well and as a direct result of that, AIR token price will go up over time. The other issue is that KSM is locked up for a long period of time so what happens in 48 weeks time when we are in a bear market etc…

This is the same problem I have with all parachain projects and not just with Altair, I am interested in staking to a crowd loan but finding it hard to justify the risk involved (in terms of return on investment).

2 Likes

AIR seems like a very interesting project. Definitely follows the wild ethos of Kusama. My question is: with regards to art NFTs, and “experimental” assets and all that… how is the value of those assets determined when it comes to using those NFTs as collateral for lending? From what I understand, Centrifuge has reliable indicators that determine the value of real-word assets. In the case of this wider range of assets for Altair, isn’t it a bit more difficult to set a price for these things?

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Are we looking of experimenting of provision of liquidity pool (CFG/ETH or CFG/DAI etc) on platforms like karura or curve finance on Genshiro?

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Will option 2 coinlist buyers will need to hold CFG in their coinlist account or they could be moved on-chain (so they can receive $AIR airdrop)? (and if they can be - when?)

Coinlist will provide more details but you will be able to take your tokens to an onchain address