Kappa Sigma Mu (KΣM) Membership

Kappa Sigma Mu (KΣM) Memberships as a beginner-friendly option for onboarding and discovering the Polkadot ecosystem.

Disclaimer: This article is written by Dot.alert() contributors for educational purposes only. This article should not be used as a substitute for competent legal or financial advice from a licensed professional in your country.

What is Kappa Sigma Mu (KΣM)?

The Kappa Sigma Mu is a Kusama-based collective whose objective is to create a Human blockchain via a process called "Proof-of-Ink". Members of this Society are eligible for rewards called "payouts" taken out of the Society's pot, which is funded by the Kusama Treasury.

How-to: Becoming a Kappa Sigma Mu (KΣM) Member

To become a member, users need to deposit a certain amount of KSM into the protocol. They can either do so themselves through a bid or get somebody else to vouch for their suitability. After which, if shortlisted, they will need to meet Proof-of-Ink (PoI) requirements (i.e getting a tattoo) to become a member.

Overview of the bidder's role in Kappa Sigma Mu Society.

Risks: Safe Management of Kappa Sigma Mu (KΣM) Memberships

Bidding for a KSM membership can be a bit of a guessing game because it is the smallest bid that gets priority for shortlisting and because there is no certain way to know how much other people are bidding once we get to very small KSM values.

As a general rule, it is best to prepare for the PoI ceremony while placing small bids, because as soon as you are shortlisted, you will be asked to submit a photo of your real-life tattoo. If you fail at PoI, you run the risk of getting suspended/blocked from applying to the Society at a later time.