Hello everyone,
For the community and teams in the ecosystem, we have compiled some FAQs for the upcoming launch of Agile Coretime.
Some topics like pricing are still in discussion (see e.g. @phillux 's post from earlier today), but we wanted to share the current status sooner rather than later.
It’s a living document, so feel free to check in regularly.
Let me know if you have any questions or comments.
Happy weekend!
Thank you for posting this @natalie! Feel free to also pull in any info from What is Coretime? | Lastic Docs
Thanks for the post! I have several questions about coretime
For projects that buy coretime in bulk, must they compete every month for their next 28 days of blockspace?
If the market is competitive, is it possible for another project to win-over an incumbent projects blockspace for the following month?
Who gets priority when multiple projects are competing for the same blockspace?
Having bidding wars every month seems a bit annoying/unstable if that is where this is headed
No, but maybe. Cores that are not split up, sold, or pooled into the on-demand (instantaneous) pool, are eligible for renewal without competition. Before the 7-day purchasing period where anyone can buy a core, the owner of a core has a 7-day renewal period that they can use to extend their lease. This renewal is also rent-controlled and is less susceptible to high price fluxuations.
Only if the previous owner of the core has not renewed their core, or has lost renewal rights by splitting, selling, or pooling into the on-demand pool.
There will be multiple cores sold in each sale, but let’s assume the scenario where there is only one core left with multiple buyers.
The “lead-in period” refers to a descending price that occurs throughout the sale. Over the course of 7 days, the price starts high, then lowers linearly over time. So whoever buys first, gets it, but also pays a higher price. This is similar to a “dutch auction.”
Hey thanks for sharing. I’ve a question about parachain slot vs core time. Will parachain slot auction completely retire once coretime is fully released? If so what happens to the slots being leased but not having reached the end yet?
Existing leases will be preserved until they expire.
What happens after they all expire? Will there be parachain slot auction anymore?
When will it be fully functional on-chain on Polkadot? It must be before the next bull market in 2024, right?
Once bulk coretime works as expected, there won’t be any new auctions. We still aim for Q1 24 and are on a good path.
