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Secret Bid Tender in Auction
In parallel with the current auction system, I propose an additional auction mechanism, Secret Bid Tender in Auction. In this system, projects will make the highest dot bid to win a parachain slot. Offers will be confidential. Bids will be made one time. The project that makes the highest dot bid at the end of 1 week will win the parachain slot. Dots will not be locked for 2 years and will be returned to their owners immediately. Dots of losing projects will be burned.
Comments (1)
Sorry but this proposal doesn't make sense anymore because Polkadot is moving to 2.0 which means the auction system will be removed (at some point in Q1 - Q2 2024) and likely this year on Kusama, therefore this proposal would not apply. Thanks though.