RioDeFi successfully won the Kusama Parachain Auction!

RioDeFi
1 min readDec 5, 2022

We are thrilled to announce that RioDeFi has successfully won the auction to secure a Parachain slot on Kusama, indicating that we can now fully leverage Kusama’s Parachain scalability and security to continue developing and upgrading RioChain in a decentralized manner.

The Parachain slot will help RioChain to enhance its cross-chain capabilities, decentralization, and network security with Kusama’s features. By bridging traditional finance with DeFi through its fiat payment rails, partnerships with financial institutions, and licensed exchange, RioChain will provide unique value for the Kusama ecosystem in future development.

Our team is now working on finalizing the migration details. More details will be rolled out once we finalize the launch plan. Please stay tuned to our social media/TG channel to get the latest updates on the Parachain launch.

What is Kusama?

Kusama is an official canary network of Polkadot. It allows developers to experiment with new blockchains or applications under real economic conditions before releasing them into the main network. Kusama Parachain auctions require bidding with their KSM token, and projects that secure a Kusama Parachain can enjoy the same technical features as Polkadot.

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