Bifrost Finance leads for fifth parachain slot on Kusama network

Barring a last-minute surge, Bifrost Finance looks like it will win Kusama’s fifth and final parachain auction when it concludes this evening.

At the time of writing, Bifrost had raised 133,000 Kusama to Basilisk Finance’s 115,000, with Altair in third with 19,000 KSM.

Defi project Karura, Ethereum compatibility project Moonriver, dApp hub Shiden, and privacy project Khala easily won the other auctions for slots in Kusama’s parachain network, but this week’s auction has been more contested.

The parachains are essentially custom blockchains that inherit all of Kusama’s security.

Founder Gavin Wood says it’s a more flexible approach than that taken by other networks, such as Ethereum, which he co-founded.