Kraken announced last Tuesday, July 13, through its Twitter account, that Phala Network Khala won the fourth Kusama Parachain slot auction.
“Phala Network is a Kusama parachain that addresses the problem of trust in cloud computing. This blockchain is a trustless computing platform that enables massive cloud processing without sacrificing data confidentiality. Built around privacy technology already built into modern processors, Phala Network’s distributed cloud computing is versatile and confidential. Additionally, Phala ensures that the processing power is highly scalable. Together, this creates the infrastructure for a trustless, powerful, secure and scalable cloud computing”, he said through an article published on his website.
The company explained that the candle auction for the fourth parachain slot ended at block 8,323,562 and Khala won the auction with a total amount of 132,280 KSM tied to his project.
According to the company, Khala is finalizing the amount of K-PHA token rewards per KSM and when they will be distributed. We will update this blog and the Kraken Support Center when these details become available.
“The rewards for supporting parachain projects vary by project. Check out our Support Center article for an illustrative breakdown of potential rewards per contributed KSM, the percentage of tokens issued to parachain auction contributors, campaign lengths, token-granting timelines, and more. The Support Center will only reflect information on currently supported projects”, he added.
When will Khala be live?
According to the company, possibly in the next few weeks.
What about the other projects that users supported and did not win?
The company explained that KSM contributed to other projects and will continue to support the bid for those projects to win slot 5, which is now open.