Lastic

Unlocking the Future of Blockspace – A true blockspace marketplace

[Lastic @lastic_xyz]

Tomorrow, April 18th, Lastic will be releasing the first of its blockspace marketplaces.

Coretime launches on @kusamanetwork and Lastic will support primary market functions of acquiring, splitting, utilizing and transferring of cores.

👀 What comes next?

[Lastic @lastic_xyz]

@DotParachains @Polkadot We haven’t taken a cent from the treasury.

[Aurora Poppyseed @poppyseedDev]

🚀 Exciting news! We're taking the first step toward supporting Polkadot Coretime! 🌐

✅ Step 1: Polkadot Coretime is live!
👉 Step 2: Coretime is fully configured ⚙️
👉 Step 3: Polkadot Coretime sales are now open! 🛒
👉 Step 4: The Indexer for Polkadot Coretime is up and running! 🔍

Dive into the details:
🔗 [Referenda](https://t.co/PHiLJuevZL)
🔗 [GitHub Pull Request](https://t.co/BggwRPCIpt)

#Polkadot #Web3 #Blockchain #Crypto 🌍✨

[Lastic @lastic_xyz]

✅ Renewal page improved

[Aurora Poppyseed @poppyseedDev]

🚀 We’ve upgraded the renewals page with Lastic! - @lastic_xyz

Now you can:
🔹 View a detailed timeline to find the best time to renew your core
🔹 Get info on upcoming sales periods
🔹 See which cores need renewal
🔹 Track utilization start dates
🔹 Review past events and cores that failed to renew if purchased

Check it out: https://t.co/tiufZAbpbh

[Encode Club @encodeclub]

Get ready for @poppyseedDev from @lastic_xyz with the "Unlocking the Potential of Coretime: Exploring Lastic on Polkadot's Agile Ecosystem" workshop tomorrow!

🔍 Dive into Coretime, implement agile solutions, and learn about the advantages of Lastic’s innovative tech on Polkadot.

RSVP: https://t.co/2LSfo9yAf9

[Lastic @lastic_xyz]

Proud to participate in the @encodeclub x @Polkadot Educate series. Join us for @poppyseedDev's session on unlocking the potential of Coretime!

[Encode Club @encodeclub]

Please meet our speakers for the @Polkadot Educate series who will host workshops on topics like Polkadot 2.0, Agile Coretime, EVM Parachains & JAM!

🎤 @BillLaboon, Director of Education and Governance Initiatives (@Web3foundation)
🎤 @SakacSergej, Founder & Lead Dev (@RegionXLabs)
🎤 @poppyseedDev, Founder (@lastic_xyz)
🎤 @theAlbertoV19, Founder (@PaperMoonIO)
🎤 @nkhateev & Özgün Özerk, Opensource Rust Devs (@OpenZeppelin)
🎤 @filippoweb3, Technical Educator (@Web3foundation)

Don't miss it 👉 https://t.co/rFH9oacNVo

[Lastic @lastic_xyz]

Join our talk on the Encode x Polkadot Educate ❤️

[Encode Club @encodeclub]

Announcing a huge initiative: @Polkadot summer/autumn programmes!

👉 Dozens more projects are to be launched
👉 Hundreds of devs will be onboarded
👉 Thousands are waiting to learn about Polkadot 2.0, Agile Coretime, EVM Parachains, JAM & more

1️⃣ Step one: Polkadot Educate series! Get onboarded and learn the basics from the pros in the ecosystem.

Register: https://t.co/LZHwFuJP1Z

[Lastic @lastic_xyz]

We are thrilled to announce Coretime's new pricing model, which promotes price discovery and prevents frontrunning 😁. This means less stress and more fairness for everyone!

Check out the pricing proposal: https://t.co/GTzERn2VNI
Buy Core: https://t.co/AFkgiMRc5W

We're proud to have contributed to the pricing simulation: https://t.co/XNZ8YN4IGh and helped crack the mystery of setting the correct prices sooner.

[Aurora Poppyseed @poppyseedDev]

🚀 Excited to share our @lastic_xyz project on Devfolio, marking the beginning of Lastic Overstaking! 😄

Built at ETHPrague 2024, we integrated @eigencloud and @0xMantle for our proof of concept and even won some awards! 🏆

Check it out: https://t.co/iBc3qs4wjP

[Luuu @Just_Luuuu]

What a day. @lastic_xyz team stole our Polkadot booth at @EthPrague.

Selling blockspace in real time.😊

[Lastic @lastic_xyz]

Want to check the status of your current parachain? 📊

Visit https://t.co/GDVFpoJKgI to get all the details on your ParaID.

[Lastic @lastic_xyz]

Hey @Polkadot community!
🚀 It's time to renew your Cores! 🚀

[Lastic @lastic_xyz]

3️⃣ Click 'Renew Core': Once you've found your parachain, click the "Renew Core" button. ✅

😄 Easy as that!

Note: If you don't have the necessary funds anybody else can renew the ParaID for you!

[Lastic @lastic_xyz]

“Blockspace needs to be very, very, very, very, very nearly free.” -@gavofyork

We’re going to take blockspace further than “nearly free.” #clue

[Lastic @lastic_xyz]

Lastic allows parachain teams to easily renew their leases month over month.

Congrats @InterlayHQ for being the first!

[Birdo @itsbirdo_]

The @InterlayHQ team are the first ever chain to renew their core on @kusamanetwork using the new coretime system. Closely followed by @centrifuge 🤠

Using @lastic_xyz it was super simple for both teams to bridge funds and renew their chain 🎉

[Lastic @lastic_xyz]

Going to @EthPrague?

Find us the day before at the ProtoLayers conference and learn about our thesis behind modular blockspace markets!

[ProtoLayers Builder Conference @ProtoLayers]

Thrilled to partner with @lastic_xyz for @ProtoLayers Conference! Lastic is building the go-to modular marketplace, connecting builders with the best resources across networks.

Learn more from Lastic Co-Founder & CEO @ph_lux on May 30.

Get tickets: https://t.co/kfaVng9Mra

[Lastic @lastic_xyz]

Did you know you can tweak your core's frequency with a technique called Interlacing? 🔄

Here's a simple breakdown: Think of the blockchain as a giant computer. Buying a core is like getting a processor in this vast network. What's a processor's superpower? Parallel computing!
How does a processor handle tasks like moving the mouse and opening a new tab simultaneously? It runs both tasks so fast on the same processor that you don't even notice.

Applying the same concept, how can we manage multiple parachains on the same core? Polkadot introduces Interlacing, a feature that adjusts your core's frequency within 80 blocks (one timeslice). The core division is tracked using a variable called Mask, an 80-bit bitmap.

Ever wondered what a Mask of 0xffffffffffffffffffff indicates? It means your core hasn't been interlaced yet 😄

And guess what? We can even shape our core interlacing like a heart! 🩷

#Blockchain #Polkadot

[The DeFi Guy @OnlyDeFiGuy]

Core Time Sales on Polkadot: A New Era of Resource Allocation Assets

Polkadot is on the cusp of a significant shift in how blockchain resources are allocated and monetised. The upcoming transition to the Agile Coretime model, set to go live on Polkadot in July following its debut on Kusama, promises to bring unprecedented flexibility and efficiency to the network. Let’s dive into what this means.

Understanding Agile Coretime: Agile Coretime is a groundbreaking approach that enables the buying and selling of blockspace in a dynamic, market-driven manner. It moves away from the static parachain leasing periods of Polkadot 1.0 and introduces a more flexible and cost-effective way to acquire and manage network resources.

Key Components of Agile Coretime:

- Cores: Cores represent the virtual abstraction of computational resources provided by the relay chain to secure parachain blocks.

- Coretime: Coretime refers to the time allocated for utilising a core, measured in relay chain blocks.

- Bulk Coretime: Bulk coretime is a fixed duration of continuous coretime represented by an NFT. These NFTs can be split, shared, or resold.

- On-demand Coretime: On-demand coretime allows for the authoring of a parachain block on-demand, acquired through bidding in near real-time.

-Coretime Chain: The Coretime Chain is a system parachain responsible for the sale and manipulation of bulk coretime, as well as the scheduling of cores on the relay chain.

How Agile Coretime Works:

Under Agile Coretime, sales occur on the Coretime Chain in two main periods: the Renewal period and the Sale period. During the Renewal period, bulk coretime can be renewed. The Sale period consists of a Price Discovery period, where a Dutch auction determines the equilibrium price, followed by a Fixed Price period.

Splitting and interlacing allow for the division of regions, providing further flexibility in resource allocation. Elastic scaling, currently under development, will enable projects to seamlessly scale and access multiple cores as needed.

Opportunities and Implications

Agile Coretime brings several benefits and opportunities:

- Democratisation of Access: On-demand coretime lowers barriers to entry, allowing developers to quickly spin up proof-of-concepts and access Polkadot’s ecosystem.

- Cost Efficiency: By purchasing coretime on-demand or selling unused coretime on secondary markets, projects can optimise their resource usage and costs.

- Predictable Resource Planning: Bulk coretime enables strategic resource planning, allowing projects to secure coretime at fixed prices and plan for sustainable growth.

- Secondary Markets: The ability to split and sell coretime opens up opportunities for secondary markets, improving allocation efficiency and enabling speculation.

- Trading Opportunities and Risks in Agile Coretime

The introduction of Agile Coretime presents new opportunities to potentially profit from the dynamic market for blockchain resources. However, as with any trade, there are risks to consider.

Opportunities for Traders:

- Price Volatility: The market-driven nature of Agile Coretime may lead to price fluctuations based on supply and demand. Traders can potentially capitalise on these price movements by buying coretime during low-demand periods and selling when demand surges.

- Speculation on Future Demand: Traders with a keen understanding of the Polkadot ecosystem and upcoming projects may be able to anticipate future demand for coretime. By securing coretime in advance and selling it when demand increases, traders could potentially profit.

- Arbitrage Opportunities: With the emergence of secondary markets for coretime, there may be opportunities for arbitrage. Traders can look for price discrepancies across different markets and exploit these differences for profit.

I’ve spent the last few weeks trying to consider how someone could extract MEV from this new marketplace, aside from trying to arbitrage the open market and open sell orders on an exchange. I think this will be hard to do, remember if you don’t use your core time in your time period it expires worthless. So use it or lose it.

Risks to Consider:

- Market Unpredictability: While the market-driven approach of Agile Coretime allows for greater flexibility, it also introduces a level of unpredictability. Sudden changes in demand or unexpected market events could lead to rapid price fluctuations, potentially leading to losses for traders.

- Lack of Historical Data: As Agile Coretime is a new model, there is limited historical data to analyse and base trading decisions upon. This lack of historical context may make it more challenging to develop reliable trading strategies.

- Technical Understanding: Trading coretime effectively may require a deep understanding of the Polkadot ecosystem, the Coretime Chain, and the technical aspects of parachain operations. Traders without this knowledge may face increased risks.

- Liquidity Risks: The liquidity of the coretime market may vary, especially in the early stages of adoption. Low liquidity could make it difficult to enter or exit positions at desired prices, potentially impacting trading profitability.

Favourable Situations for Trading:

- High Demand Periods: During times of high network activity or the launch of popular projects, demand for coretime may surge. Traders who have secured coretime in advance could potentially sell at a premium during these periods.

- Network Upgrades or Ecosystem Developments: Polkadot network upgrades or significant ecosystem developments may drive increased demand for coretime. Traders who stay informed about these events could potentially position themselves to benefit from the resulting market movements.

- Inefficient Market Pricing: In situations where the market may be mispricing coretime relative to its intrinsic value or future potential, traders with a strong understanding of the ecosystem could identify and capitalise on these inefficiencies.

From where I sit, it’s hard to predict what prices or demand will look like once this model is live on Polkadot, I guess we’ll just need to see this go live and watch it play out, speculating on what could or might happen in the future is a fools game, but what an exciting time to be working on @Polkadot . It really feels like we’re at the start of something big!

[Lastic @lastic_xyz]

Did somebody want a Community Spy Section🕵️?

https://t.co/s6vM3TCn4P

[Aurora Poppyseed @poppyseedDev]

We decided to add a little 🕵️Community Spy Section inspired by some of the comments in our https://t.co/hCqyoPU9ws channel 🤣