Robonomics Network has evaluated the costs associated with leasing a Polkadot slot and announced their aim to take on a 2-year slot lease on the Kusama network. At the upcoming auction, the platform will distribute $720,000 in its native tokens among KSM holders, which according to the team’s estimates, makes their offer 1.5 times more profitable for participants, compared to KSM staking.
Robonomics Network is set to provide IoT devices with access to the Polkadot ecosystem, whilst Robonomics parachain will store their digital twins. Users within the parachain will be offered the same features that are now available on other IoT cloud platforms such as AWS IoT or Azure IoT. This includes integration of the most popular cryptocurrencies and tokens from the Polkadot ecosystem (Money for robots); tokenization of data received from IoT devices; access to smart contracts; and other facilities.
According to Robonomics’ preliminary estimates, one slot of the Kusama network is capable of servicing up to 10,000 digital twins of IoT devices simultaneously. This will allow Robonomics to debug the process of connecting IoT systems during the lease of the Kusama slot. Furthermore, after just two years, the network is expected to scale up to 1 million IoT systems connected in real-time by transforming the Robonomics network from Kusama Parachain to Polkadot Relay Chain. The Polkadot slot auction is expected to run within the $3.2 to $6.4 million price range.
The outlook for the upcoming IPO is based on existing parameters of Kusama and Polkadot networks, Parity developers and the Web3 Foundation team’s forecasts and the community expectations based on current DOT and KSM staking rates. The 2-year slot lease in the Kusama and Polkadot networks is evaluated at $480,000 and $3,2 million respectively and considering the current capitalization of these networks, KSM and DOT holders’ income is likely to reach $50 and $650 million every two years.
We aim to provide one million IoT devices with high-level security and global availability, which is now inaccessible for IT giants’ cloud platforms. We are looking forward to activating previously unavailable tools for logistics, production and urban life, Sergej Lonshakov, Robonomics Network founder.
Robonomics Network is an open-source platform that connects IoT devices under the control of Ethereum and Polkadot networks. Over the last six years, 13 application scenarios have been implemented on its basis, including management of drone fleets in a decentralized network, tokenization of data from IoT devices, robot-artist Gaka-chu, road space negotiation for autonomous cars and many other significant use cases.