PCHU Crowdloan Details and links
Hey Kylians,
On the 12th of December we will join the Kusama parachain auctions. We will start participating this sunday and keep on doing so until we secure our Parachain slot. To do so we will need a helping hand from our community members by loaning us some of their $KSM tokens which we can then use to lease our parachain. When you join the $PCHU crowdloan you’ll commit to locking your $KSM for a period of 48 weeks. In return you’ll be rewarded with 350 $PCHU per $KSM you provide to the team. When the lease period of 48 weeks ends you will get back the $KSM tokens you locked up.
We received a lot of questions from our community about the details on how to participate in the crowdloan for the $PCHU Kusama Parachain Auction. We understand the process can be a bit confusing as there are different options available and people have different views on how they would like to join the crowdloan. Therefore one of our most dedicated ambassadors @cryptoladymakingtendies decided to write this article that provides the community with a pretty comprehensive list of options that are available. We owe you a big thank you for all the hours you devote to guiding the Kylin Network community!
We clearly want to state that this list can be used as guidance for those who want to join the $PCHU crowdloan but in no way can be considered as financial advice. For participating in the Kusama crowdloans also goes, do your own research!
Exchanges that support Kusama Parachain Auctions
➡ Kucoin : www.kucoin.com/earn/polkadot
➡ Kraken : www.kraken.com/en-gb/learn/parachain-auctions
➡ Gate : www.gate.io/slot_auction
Please ensure you read the terms and conditions as at least one of the exchanges does not guarantee the exact amount of tokens offered in the crowdloan! (1 $KSM : 350 $PCHU)
We also want you to keep in mind chances are you will be charged a fee when using an exchange to join the crowdloan. The only one that seems to be offering the full crowdloan rewards is Kucoin, but again DYOR.
Wallets that can be used for the crowdloan
The three wallets that would be recommended to use are very different when we look at users experience. if you are unsure of how the Polkadot JS wallet works then we have found the Fearless Wallet is the easiest to use.
Please note that $KSM wallets start with letters and not numbers!
❗ Kusama addresses always start with a capital letter, such as C D, F, G, H, J.
❗ Polkadot addresses always start with the number 1.
We highly suggest to always send a small test amount first to check and see if the wallet is receiving the deposit and is correctly set up. The first time you send funds to a wallet will be very slow so please be patient when it comes to the first transaction. The first amount you send can take hours to arive in a newly set up wallet. After that first one you will have your transactions processed and deposited in your wallets under a minute.
➡ Mobile Wallet : fearlesswallet.io
This is a Non-custodial/self custody wallet with a very nice UI. It makes crowdloaning simple and an easy experience. Please read the medium below to find out if it is suitable for you as a mobile application.
📄 medium.com/fearlesswallet/polkadot-parachain-auction-and-crowdloans-explained-1cd18675b401
➡ Mobile Wallet: polkawallet.io
This is a Non-custodial/self custody wallet. It is a mobile version of the desktop version Polkadot.JS Check out the video below to learn how to set the wallet up.
▶ youtube.com/watch?v=cPGtdkRYiFA
How to crowdloan within wallet = youtube.com/watch?v=zfnqsGc9fso
➡ Desktop Wallet ( Laptop or PC and Mac)
There is only one option available here and that is the Polkadot.js website. You’ll have to use the browser extension to gain access. If you choose to use this then please follow instructions in the article below carefully.
📄 pedroporky.medium.com/how-to-create-a-kusama-wallet-on-the-polkadot-js-website-using-the-polkadot-browser-extension-e402e16449e7.
Being self reliant
When you find yourself getting stuck when you’re setting up one of these wallets or you are still unsure about how to do it, the best way to get answers is to Google your problem or find a troubleshooting video on YouTube. It is exciting, but also extremely busy times for The Kylin Network team and its ambassadors. We always have team members ready to jump in to assist but as we are exploring new frontiers we would like to ask the community to try and find the answers themselves first.
As a last reminder, please keep in mind:
❗ Kusama addresses always start with a capital letter, such as C D, F, G, H, J.
❗ Send a small test amount first
❗ This guide provides the crowdloaning options that are available. It is up to the individual to do their own research and find which platform will suits the best. The Kylin team accepts no liability and does not endorse any of the wallets.
Contact Kylin Network
- Telegram: https://t.me/KylinOfficial
- Twitter: https://twitter.com/Kylin_Network
- Discord: https://discord.gg/PwYCssr
- Medium: https://medium.com/kylin-network
- Linkedin: https://www.linkedin.com/company/kylinnetwork
- Official website: https://kylin.network/
