The parachain auction event is one of the important upcoming events in Polkadot’s road to success, but it seems that it’s still not ready to be launched.
The last successful launch of Polkadot mainnet was back in 2020 and has since been in a stable state for over a year, but only the central relay chain seems to be in motion, as a year of development has been in focus on the implementation of decentralized government.
Reports have revealed that the auctions project is still currently running in the testnet, present in the Rococo network. The launch of this new project from Polkadot will push the distribution of parachains in the Kusama Network, shortly followed by the distribution of parachains in Polkadot’s main network as well. This distribution is said to be the finish point. Then it will give the signal for decentralized applications to run on Polkadot’s network. As optimistic it may seem, the project was supposed to be launched in the first quarter of this year but still hasn’t had any updates. Recently, Polkadot shared a new roadmap with the public. It did mention the release of the parachains auctions, but it still had no release date, leaving users with genuine concern.
What do these auction events give out?
The main purpose of the auctions is to help projects gain parachain slots and have a chance to operate on either of the two networks. The parachains will be distributed in parts, with the main objective being the distribution of a total of 100 parachains.
Several projects have shown interest in operating on the networks and will be bidding for a position when the time will come. A project named Acala is looking to become Polkadot’s top source for DeFi, so it will definitely be participating in the auctions. And as for the price, it is predicted that a bullish trend is imminent.
It is not yet known what the development team is up to. There might be issues of worst-case scenarios, which can definitely hinder the performance of the development phase, leading to delays in the launch. This parachains auctions project seems to be a great deal to Polkadot, so maybe they are just making sure that everything works great on launch, unless they release it in an unpolished state under pressure, causing severe failures and potential loss in value.