Turing Network Wins the 69th Kusama Parachain Auction! 🎊
Our team at OAK Network is happy to announce that we have won the 69th (nice) parachain auction on Kusama to extend the lease period for our canary network Turing for a second year!
Introduction
The Turing Network has made great progress since winning our first Kusama parachain crowdloan auction in March 2022 and our team is looking forward to rolling out more automation functionality for the Turing Network in 2023.
OAK Network self-funded the bid on Kusama auction number 69 so that we could ensure the renewal of our parachain lease and make sure there would be no downtime for our Turing Network to enable a smooth transition for the network as it enters the second year of operation.
If you are interested in the Turing Network and acquiring $TUR tokens be sure to head to the MangataX DEX. Mangata remains one of OAK Network’s closest parachain partners and our communities can expect a variety of new features to be available using our chains in the near future! A link to their site can be found below.
Turing Network First Year Rewards
The Turing Network has seen amazing support from our community and the Kusama and Polkadot ecosystem. We are happy to have over 31 million $TUR tokens staked on-chain and over 15 million $TUR issued as rewards over almost 2 million validated blocks.
Our $TUR:$MGX liquidity pool on MangataX is also continuing to perform well and liquidity providers are seeing significant rewards. Our friends at Yieldbay have a breakdown of liquidity pairs across the Kusama and Polkadot ecosystems which ranks the $TUR:$MGX as one of the most lucrative pairs.
Users who have utilized our autocompounding features such as Yield Boost with our partners Nova Wallet and SubWallet have also received significant rewards. Check our the link below to find out how you can use autocompounding on the Turing Network to maximise your rewards.
https://medium.com/oak-blockchain/tur-auto-compounding-yield-boost-staking-guide-1832275af4a7
Crowdloan Rewards
If you participated in Turing Networks first crowdloan in 2022 we would firstly like to once again thank you for your support. Your early contributions to our network have helped immensely to cement our parachain as the automation hub for Kusama and we have plans for future rewards. We will also be releasing a guide on how you can claim your locked KSM once the first lease period ends. Make sure to join our community Discord to stay up to date with all things Turing and OAK.
About OAK Network
OAK Network is a layer one blockchain that enables multi-chain applications to automate single or recurring transactions using a simple ‘if this’ trigger condition and ‘then that’ transaction instruction. As the web3 hub for cross-chain automation, OAK unlocks a diverse range of rich DeFi user experiences including scheduled and recurring payments, stable-cost-averaging, stop loss and limit orders, and non-custodial copy trading.
