🗣️ 📝The maximum parachain slot time on Polkadot is 24 months
"Lease Period" is a 3 month time allocation.
You will see lease periods represented for parachains like the following.
LP13-20 (8 periods)8 (lease periods) * 3 (months per period) = 24 month lease
It’s possible to bid for less time, e.g. 1 period, or 4 periods only, but the majority of teams go for a 2 year slot.
⚠️ It’s important to ensure your parachain lease periods are set correctly when you bid!
Leases “12-14” means that the team has a slot until the end of LP14.
The team needs to get a new lease that includes LP15
- Could be a slot leased for
LP15-XX(max LP15-22). - Could be a slot leased for
LPYY-...-LP15-...-LPYY).
“Total Value Locked” is compared against the different bids for one particular slot.
The formula used is Total Value Locked = Number of Leases * Bid
If different bidders for same auction with different number of leases, this needs to be considered.
Example
Auction: for LPs 14-21.
Team A has an existing slot, with LP 14 as a last LP.
Team B has no existing slot.
| LPs | Bid | Total Value Locked | |
|---|---|---|---|
| Team A | 15-21 (7) | 110 DOT | 770 |
| Team B | 14-21 (8) | 100 DOT | 800 |