Crust to participate in 2nd Batch of Polkadot Auctions. Crowdloan is live!
Crust has launched the crowdloan for the second batch of parachain auctions on Polkadot, which will cover 6 auctions with a goal of raising 5,000,000 DOT!
Crust’s Parachain ID: 2008
We are very excited to announce that we are cooperating with Parallel, which will serve as a third-party crowdloan channel.
Rewards for Contributors
1）1 DOT will be rewarded with 0.2 CRU
Crust plans to bid for all 8 lease periods, and once successful, contributed DOT will be locked for the duration of the parachain lease (24 months). Contributors will receive a reward of 0.2 CRU per DOT, and there are 1,000,000 CRU allocated to reward crowdloan contributors. 30% of rewards will be available to claim immediately, the remaining will be released 10% each lease period.
2）Lucky draw for 10 randomly selected crowdloan participants
Crust has also prepared a lottery for contributors. A total of 10,000 CRU lucky draw to be shared amongst 10 randomly selected winners (1 DOT receives 1 lottery ticket).
Regardless of whether Crust wins a slot, we will have the lucky draw rewards for all contributors.
3）Participants on Parallel will have early bird rewards and referral rewards.
The specific rules are as follows.
Base Rewards:
In addition to the base reward, earn up to 30% with the early bird bonus + 10,000 CRU lucky draw to be shared amongst 10 randomly selected winners (1 DOT receives 1 lottery ticket).
Early Bird Bonus:
Contributions before January 20th, 2022 will receive a 30% CRU bonus
Contributions after January 20th, 2022 will receive a 20% CRU bonus
Parallel Additional Bonus:
4 PARA per DOT contributed
Parallel Referral Bonus:
5% PARA Bonus
About Parallel
Parallel is the DeFi Parachain of the Polkadot ecology. It provides more liquidity for the Polkadot ecology by providing Money Market, Liquid Staking, Auction Loan, DEX, Crosschain Wallet and other products. Auction Loan is the first liquidity release agreement launched by Parallel. Participating in crowdloan through Auction Loan can get more project rewards and get cDOT derivatives as liquid assets to release the liquidity of pledged DOT. At present, the total locked DOT number of Auction Loan products has exceeded 18M, and more than 60,000 addresses are used for crowdloan contribution through Auction Loan.
Parallel is the Polkadot DeFi parachain invested by Sequoia, Peter Thiel’s Founders Fund, and Polychain Capital. Auction Loan is the first to help Polkadot users get more Crowdloan rewards and liquidity. product. Release DOT liquidity through Auction Loan contribution: https://crowdloan.parallel.fi/#/auction/polkadot
Crust will continue to announce more third-party participation channels. Please stay tuned.
