As many of you know, Altair’s parachain lease on Kusama expires the 8th August 2022 and this post will clarify some of the questions that we have seen the community ask recently.
Return of KSM contributed to Altair in the crowdloan
If you contributed to Altair directly (either via the official contribution page or the Substrate portal), your KSM will automatically be returned to the wallet you contributed from on or around the 8th August - so you don’t have to do anything.
Users who contributed KSM to the Altair crowdloan via http://bifrost.app/ need to redeem vsKSM and vsBond in exchange for original KSM. You can check the redeeming process here (info taken from Bifrost’s Discord here).
If you contributed through an exchange, please check their Terms and Conditions as to how and when they are going to release the KSM you contributed to Altair through them.
New parachain lease
Altair has already secured another parachain slot on Kusama by bidding for slot #47 (which we won) as a parathread for the lease period 23-30. The slot extension was self-funded by the Centrifuge Network Foundation. This means that there was no crowdloan for this auction.
This model allows existing AIR reserves to be directed to building Altair, preparing pools, and supporting developer initiatives.
The details of the auction can be found in this Medium blog by Branan.
You can read more about the difference between a parachain and a parathread here.
Vesting of AIR tokens
The AIR crowdloan rewards that you received for contributing KSM had a vesting period of 48 weeks (25% released immediately and 75% released linearly, block by block, for the duration of the first lease). The vesting scheme is based on block times (and not days/hours).
However, most parachains on Kusama have experienced/are experiencing higher block times than the ideal 12 seconds and the vesting period was calculated based on a block time of 12 seconds so the vesting period is extended accordingly.
You can check exactly how long is left of the vesting period or your AIR tokens, by clicking on the next to your account in the Substrate portal and hover your mouse over the symbol, next to vested.
All the AIR rewards from the crowdloan will be fully vested at block 2,060,306. Remember, that you manually have to unlock tokens that are vested. You do this by clicking on the three dots next to your account, select Unlock vested amount and sign the transaction.
If you have any questions, feel free to ask them in the comments below.