KSM token is the native cryptocurrency of the Kusama network and also the governance token of the network. KSM holders have the right to vote on important decisions such as network upgrades, addition of new parachains, etc. KSM tokens can also be staked to contribute to the security of the network.
What types of projects are being developed at Kusama?
Kusama is a platform for developing innovative projects in the fields of DeFi (decentralized finance), NFTs, gamification, and more. On Kusama, developers can quickly test their new ideas and get feedback from the community.
How does Kusama's parachain slot whatsapp number list auction mechanism work and what is the purpose of this mechanism?
An auction is held for parachain slots by staking KSM tokens. Its purpose is to increase the chances of the most valuable projects becoming parachains and to ensure network security.
What is the difference between the nominee and validator roles in Kusama and why are both roles important for the security of the network?
Nominators contribute to the network by supporting validators, while validators produce blocks and secure the network. Both are necessary for the proper functioning of the network.
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