Binance defers rewards distribution for participation in Polkadot parachain auctions

The cryptocurrency exchange Binance has delayed the distribution of rewards for participation in the first series of Polkadot parachain-slot auctions, roughly until 16 February 2022.

Updates on the rewards distribution for @Polkadot Slot Auction:

🔸 The distribution will be postponed till projects complete DOT mainnet launch
🔸 Estimated date ~2022-02-16 UTC

A further announcement will be posted when the distribution is complete.https://t.co/HA4tgbYmSE

— Binance (@binance) December 21, 2021

The company said the rewards would be paid once the winning projects launch their parachains on the Polkadot mainnet. Once the network is deemed stable, the corresponding tokens will become transferable, the Binance team said.

The auction winners were Acala, Moonbeam, Astar, Parallel Finance and Clover Finance.

On December 18, Polkadot said that all five parachains had begun producing blocks and the mainnet launch was complete.

The start of a new round of auctions was planned for 23 December. Six winners will deploy their networks around 11 March 2022.

On 20 December, the Polkadot developers launched the public parachain Shell on the mainnet.

The last phase of the mainnet launch began in May 2021. It included deploying parachains on the Kusama testnet.

The Polkadot team announced readiness for this process in October.

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