Initial Parachain offering
Becoming a Parachain by leasing a Parachain slot from Polkadot would be an ideal option to bootstrap the Demodyfi Network, and maximize its benefits and reach to other chains and applications.
There are no initial plans for an IPO for now. To bootstrap the Demodyfi protocol, we plan to implement Moonbeam's Parachain smart contract interoperability that connects to the relay chain. In the future, we will conduct a parachain lease auction. Becoming a Parachain by leasing a slot from Polkadot would be ideal to maximize its benefits and reach to other chains and applications on the Polkadot network.
Polkadot utilizes a specially designed Candle Auction to sell the leasing right of Parachain slots. It is a mechanism designed for fairness, e.g., to prevent early sniping and provide bidders with higher valuation higher chances of winning. There are multiple ways to participate in the Polkadot network from high usage to low usage, from high to limited customization:
    deployed as parachain with permanent (for the auctioned slot period) ongoing security for high usage and fully customized chain
    deployed as parathread for a fully customized chain with lower usage, pay-as-you-go security renting economic model
    deployed as smart contracts on a parachain or parathread to leverage Polkadot security through their economic model
Demodyfi is aiming to be connected to the Polkadot ecosystem as a Parachain, as we plan (in the future) to launch using DOTs to be crowdfunded. Since it will be a challenge to estimate the private valuation distribution of bidders with private bidding strategies, we plan to conduct a Crowdfund IPO (Initial Parachain Offering).
We plan to switch to our independent blockchain bridging to Polkadot after leased years. (An in-dept paper will follow).
    there will be a limited number of parachains supported
    hence a market mechanism will be used by Polkadot to allocate a parachain slot - using auctions
    Polkadot will release one parachain slot at a time, and one auction per slot at a time, but slots will continue to be released every few weeks (exact timeframe TBD)
    the auction is NOT a sales event; a sum of DOTs are locked as bond for the lease period of a parachain, and will be refunded at the end of the lease
    the lease periods are available in 6-month chunks and maximum 24-month, each lease can only be one of the 4 options (6-month, 12-month, 18-month, 24-month)
    a crowdfund module is provided by Polkadot to crowd source DOT holders’
Source:
1
https://polkadot.network/polkadot-parachain-slots/
2
https://wiki.polkadot.network/docs/en/learn-auction
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Participate in Demodyfi Parachain Launch Offering

This is still work-in-progress, and we will update as soon as we have more details.
Prepare Funds - Crowdfund - Parachain Auction - Parachain Launch - Refund
Last modified 5mo ago
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