Anyone can register their project to participate in auctions after submitting the name of the project, a short briefing, project website, and a refundable deposit of 1000 CELL tokens.
In order to participate, projects must choose a range between 1 and 8 so as to allow a flexible and feasible lease duration of their own liking. Each range point equals a lease duration of 3 months. E.g. a range point of 1 stands for 3 months, 2 for 6 months and so on up to 8 which means 24 months.
If project A bids 100 CELL on range 1-3, project B bids 200 CELL on range 1-1 and project C bids 50 CELL on range 1-8, their scores would be 300, 200 and 400 respectively. The project with highest score (project C in this scenario) wins the auctions.
For a winner to occupy a CellSlot, the project must lock CELL tokens for the entire lease duration. Submitting 31,250 tokens will award a CellSlot for 3 months which is the minimum awarded lease duration. This duration can be increased by whole number multiples upto 24 months by submitting 250,000 tokens.
These locked Cell tokens could be submitted by the project privately (where only the project owner can bid during auctions) or after collection via a crowdloan (where anyone is allowed to bid).
Winner gets a CellSlot NFT with a random but unique number, that can then be used to connect the CellChain to the Cellframe backbone.