Cellframe Auctions
Projects connect to the Cellframe Network by leasing computation slots in quantum-resistant networks for 96 weeks. These slots are allocated through decentralized on-chain auctions, where winning projects bond CELL tokens for the lease duration.
Rules of Cellframe Auctions
01
The end of the auction is signaled by the expiration of a candle flame, which was intended to ensure that no one could know exactly when the auction would end and make the last bid.
02
To participate, the team must fill out an application and provide the project`s name and description, website address, and the amount of tokens allocated for the airdrop. If the project wins, these tokens will be distributed among investors. If it loses, the funds will be returned to the team.
03
CellSlots use a reward multiplier based on the token lock-up period. 1 period = 3 months (multiplier ranges from ×1 to ×8 for 1–24 months). The longer the lock-up, the higher the multiplier.
After the auction, the funds are converted based on the chosen multiplier.
04
In a crowdloan, any participant can place a bid by locking their $CELL tokens and receiving project tokens in return (most often governance tokens, but the specific type is determined by the project owner).
In private offerings, only the project owner can place a bid.
05
The auction winner gains the right to connect their project to Cellchain via Cellframe Backbone OR transfer the slot to another participant.
When transferring the rights, the new owner must undergo verification before using the slot to deploy their project.
06
To secure a slot for two years, a participant must gather at least 250,000 $CELL.
Auctions Structure
Auctions timetable
Each auction lasts one week and assigns a slot duration of 96 weeks, divided into eight 12-week lease periods.
Auction ending period
The auction’s ending period starts about one day and 21 hours after the auction begins and lasts until the end of the one-week bidding period. The auction’s end point is randomly chosen by the Verifiable Random Function (VRF) at the close of the bidding period.
