Secondary Market Overview

The RegionX parachain provides two main ways of interacting with its Coretime marketplace. These two methods serve distinct purposes.

Direct Access

The RegionX parachain has its own marketplace module which contains the core logic of the RegionX Coretime marketplace. It is described in greater detail in our white paper. Essentially, it provides the functionality for listing regions purchased from the bulk market on sale. We categorize these regions into two categories based on their current 'lifecycle'. The two region types are as follows:

  • Active regions. Active regions can be used in the current moment. This means that if we assign a task to an active region, it will start execution in the upcoming timeslice (assuming that the region doesn't begin later in the future)

  • Inactive regions. These are the regions that will become active in the upcoming Bulk period. The regions purchased from the Coretime chain fall into this category until the start of the next Bulk period. Tasks assigned to these regions will only start with execution in the upcoming bulk period.

The pricing of inactive regions remains fixed at the amount initially determined by the seller. In contrast, the cost of active regions follows our dynamic pricing model, which accounts for gradual depreciation in value. The pricing of these regions reflects their decreasing value over time when not used.

Details on the pricing can be found in the Dynamic Coretime pricing section of the wiki.

Orders

Given that most parachains aim to be decentralized systems, it's crucial for them to procure Coretime in a decentralized manner as well. If a parachain depends on a specific group of people to sustain its operations, it fails to achieve true decentralization. Users on these chains should vigilantly monitor whether the chain continues to receive coretime renewals.

Since parachains are transparent systems, they are predictable. This means they cannot effectively interact with an open marketplace without risking others front-running them.

This is the primary reason why we developed the orders model. It enables parachains to acquire Coretime for the marketplace in a decentralized, community-driven manner.

This works by each parachain periodically posting a Coretime order at the beginning of every bulk sale. Each parachain, through its own governance, determines its Coretime demand (Tools like https://www.polkadot-weigher.com/ assist in this process). Once the requirements are established, the parachain autonomously posts the orders periodically.

The order itself doesn't hold any value. However, individuals can help an order by contributing their own DOT tokens to it. This process is akin to the legacy crowdloan model, but in this case, the DOT tokens are spent rather than being locked.

Similar to how parachains used to reward crowdloan participants, they can also specify rewards for the order contributors. This provides incentives for people to spend their DOT tokens on an order.

Of course, the parachain itself can always contribute to its own order.

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