Zeitgeist Presents: The Kusama Parachain Derby

Who will win the first 3 parachain slots on Kusama? Cast your prediction and earn ZTG!

With the imminent opening of Kusama’s parachain auctions, Zeitgeist is celebrating the historical occasion with a testnet campaign that will reward participants who correctly predict the winners of the first 3 auction slots, try out our testnet and promote the campaign.

Competition among the parachain teams will be fierce, and at this point it’s still unknown which ones will obtain a coveted parachain slot. With the entire Kusama community watching closely to find out, you can make a prediction today on a special Zeitgeist Prediction Market created especially for this historic event.

What Is The Kusama Derby?

The Kusama Derby is the first testnet campaign that Zeitgeist is opening to the public. It is a specially designed Prediction Market and interface to facilitate the trading of ‘outcome tokens’, these tokens represent each of the top teams that are vying for a parachain slot.

As the name implies, we’ve chosen to present the parachain slot auctions as a horse race where each team is represented by its own horse.

The team options were selected from the teams that were first to connect to the Rococo test network. However, as we could not include all the possible teams vying for a slot, there is also a catch-all “None” option representing the following outcomes:

• None of the other teams listed win the slot
• The parachain auction does not complete in time before the market’s end date of June 30, 2021
• More than one team split the slot with different lease periods
• Any other unforeseen outcome
  

In order to cast predictions, you can buy or sell each horse’s ‘outcome token’ that represents a stake in the team that the horse represents winning the parachain slot on Kusama. Buying the token removes liquidity from the underlying pool, meaning that the price of the token will go up and so will the predicted probability of that team winning the slot.

How To Participate

In order to participate you must first sign-up for our Gleam campaign. The sign-up process is how we will be tracking the eligible participants for the entire campaign, so if you do not sign up for Gleam you will not be eligible for any rewards.

After you sign up for the Gleam campaign, the next steps are creating a Zeitgeist account (simple instructions for creating a substrate wallet can be found here and a video here) and obtaining some ZBP tokens (Zeitgeist Battery Park token, the tokens of our test network).

There are two ways you can obtain ZBP tokens, and both methods must go through the faucet that is available on Zeitgeist’s Discord server:

• You can receive a drip of 1 ZBP per 24 hours using the `!drip <address>` command.
• You can receive an equivalent amount of ZBP to the KSM you held on your accounts by using the `!claim` command. The balances of Kusama were snapshotted on May 11, 2021 and you must be able to sign a message with the account that held the KSM in order to claim ZBP with that account.
  

For more information on using the faucet see the documentation pages on using the faucet and participating in The Kusama Derby. We have also created some video tutorials to walk you through this process here.

Keep in mind, this is a testnet pop-up campaign for Zeitgeist, and the Kusama Derby platform will close once the event is over.

The Kusama Derby

The Kusama Derby markets will run until June 30th, but the Gleam campaign sign-up and participation will only last 2 weeks. This means that despite the testnet and Derby running longer than the Gleam campaign, you only have 2 weeks to sign up and participate. Entries via Gleam close on May 28th, 2021, so don’t delay.

Rules and Rewards

There are 3 concurrent facets of the Kusama Derby campaign, each with its own allotment of ZTG that is allocated as rewards. Zeitgeist is allocating 100,000 ZTG, or a total of 0.1% of the total ZTG genesis supply, to the Kusama Derby campaign. These tokens will not be allocated until the token generation event (TGE) which will occur at the launch of the network. There is no vesting period or lock-up for the tokens rewarded during this campaign.

• 30,000 ZTG is allocated to participants of the Gleam campaign. ZTG will be distributed based on the points earned through Gleam.
• 20,000 ZTG is allocated to node operators that participate in running nodes for the test network and apply to our future Zeitgeist Collator Program.
• 50,000 ZTG is allocated to participants of the Kusama Derby testnet. These rewards will be distributed according to the ZBP that is gained from making correct predictions in the parachain auction markets, participating in all 3 markets, and number of correct predictions that were made.

There will be grand prize winners for two different categories:

• The Kusama Derby grand prize winner who wins the most ZBP tokens by predicting the correct parachain slots will get 10,000 ZTG and a 1/1 unique NFT to commemorate the event.
• The Gleam campaign grand prize winner who collected the most Gleam points will get 5,000 ZTG and their own unique NFT as well.

These NFTS will be minted using the RMRK standard on Kusama and eventually will be transferable to the Zeitgeist network (read about Zeitgeist’s collaboration with RMRK here).

About Zeitgeist.PM:

Zeitgeist is an evolving blockchain for prediction markets and futarchy.

Zeitgeist is building an ecosystem for prediction markets. Participants in the Zeitgeist ecosystem will be able to access a plethora of prediction markets in an unstoppable, robust, and secure manner. All the while, the future of the chain is determined by the Zeitgeist community via futarchy.

Echoing the rapid pace, advanced tech, and open governance system of the Kusama network on which Zeitgeist is built, our ambition is to shake up the world of on-chain prediction markets by tearing down barriers, expanding options, and incorporating futarchy; a governance mechanism based on prediction markets.

You can read more about Zeitgeist and our vision here.