The Kusama network has officially entered a new phase of resource management with the successful implementation of Agile Coretime sales. This transition signifies a major shift from the traditional parachain auction model to a more flexible and market-driven approach for allocating blockchain resources.
Understanding the Coretime Transition on Kusama
On April 18th, Kusama Referendum 373 was passed and executed, upgrading the Kusama relay chain runtime to v1.2.0 and introducing Coretime functionality. This foundational change was quickly followed by the approval of Referendum 375, which authorized the Coretime chain to begin Coretime sales operations.
The network is currently in its renewal period, where bulk coretime is being offered to existing projects. This phase allows current coretime holders to renew their allocations at potentially discounted rates before new sales open to the broader market.
The Three Phases of Coretime Sales
Each Coretime sales cycle consists of three distinct phases:
Renewal Period
Existing coretime holders can renew their allocations during this fixed block length window. This priority access period offers established projects the opportunity to continue their services without interruption, often at favorable pricing terms.
Price Discovery Phase
Following the renewal period, new coretime enters a Dutch auction format where prices gradually decrease over time. This market-driven approach helps determine the fair market value of coretime resources through supply and demand dynamics.
Fixed Price Phase
The final stage features coretime available at a fixed price of 5 KSM, providing a stable pricing option for projects with predictable resource needs.
The End of Parachain Auctions
The implementation of Agile Coretime represents a fundamental shift in how blockchain resources are managed on Kusama. This new system introduces more flexible purchasing options, including pay-as-you-go and monthly subscription models, better accommodating the diverse needs of projects building on the network.
With Agile Coretime sales now active, the parachain auction mechanism has been officially discontinued. Existing parachains on the relay chain have been automatically migrated to bulk coretime allocations. Any lease periods that hadn't yet begun have been canceled, with locked KSM tokens returned to their original owners.
Existing parachains can now utilize the coretime renewal feature to continue securing bulk coretime allocations without going through the standard purchasing process.
How to Purchase and Manage Coretime
The Lastic marketplace serves as the primary platform for trading and managing Agile Coretime on Kusama. This user-friendly interface makes coretime acquisition accessible even to those with limited blockchain experience.
Getting Started with Coretime Purchases
To begin purchasing coretime, users must first connect a compatible wallet. Lastic supports several popular options including Subwallet, Talisman, Nova Wallet, and Polkadot-JS Extension.
Once connected, users need to transfer KSM from the Kusama relay chain to the Coretime parachain using XCM (Cross-Consensus Messaging). This process occurs in the "Transfer Assets" section of the platform.
During the sales period, users can simply click the "Buy Core" button, sign the transaction, and broadcast it to complete their coretime purchase.
Advanced Coretime Management
Beyond basic purchases, Lastic provides comprehensive management tools for coretime allocations:
- Transfer coretime to another account
- Assign coretime to specific parachains
- Split coretime allocations into smaller units
- Adjust block production frequency
- Designate specific tasks for coretime
These advanced features provide project teams with unprecedented flexibility in managing their blockchain resources according to their specific requirements.
👉 Explore coretime management strategies
The Significance of Agile Coretime
The successful implementation of Agile Coretime on Kusama represents a substantial innovation in blockchain resource management. This new approach enables more efficient resource allocation, allowing the network to better adapt to evolving technological demands and market conditions.
The flexibility offered by Agile Coretime is particularly valuable for startups and experimental projects that require scalability options without long-term commitments. The Kusama implementation also serves as a valuable testing ground for future Coretime developments on the Polkadot network.
Frequently Asked Questions
What is Agile Coretime?
Agile Coretime is a new resource allocation system that replaces parachain auctions on Kusama. It allows projects to purchase blockchain computation resources through flexible purchasing options rather than long-term leases won through competitive bidding.
How does Coretime differ from parachain slots?
While parachain slots required winning auctions and committing funds for extended periods (often 6-24 months), Coretime offers more flexible terms including shorter durations and adjustable allocations. This reduces upfront capital requirements and allows projects to scale resources according to their current needs.
Can existing parachains continue operating?
Yes, existing parachains have been automatically migrated to bulk coretime allocations. These projects can use the renewal function to maintain their core allocations without participating in the general sales process.
What happens to KSM locked in parachain auctions?
For lease periods that hadn't yet begun, locked KSM has been returned to the original accounts. Projects that had won slots but not yet started their lease terms received their funds back automatically through the migration process.
How often do Coretime sales occur?
Coretime sales follow a regular schedule with renewal periods, price discovery phases, and fixed price periods cycling continuously. The specific timing and duration of each phase are determined by network parameters and can be adjusted through governance proposals.
What wallets support Coretime purchases?
The primary Coretime marketplace, Lastic, supports several popular wallets including Subwallet, Talisman, Nova Wallet, and Polkadot-JS Extension. Users should ensure they're using the latest version of their preferred wallet for optimal compatibility.
The transition to Agile Coretime marks a significant evolution in how blockchain resources are allocated and managed within the Kusama ecosystem. This more flexible approach promises to make network resources more accessible to a wider range of projects while maintaining the security and reliability that Kusama is known for.