Crust Wins Polkadot Parachain Slot Auction #71!

Crust Network
CrustNetwork
3 min readJun 14, 2024

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We are thrilled to announce that Crust Network has secured the Polkadot Parachain slot in Auction #71! This achievement marks another milestone in our ongoing commitment to contributing to the Polkadot ecosystem by meeting all parachain data storage needs.

Thank you to the Crust Community for your unwavering support!

Auction Details:

  • Auction 71: Winner
  • Leasing Period: July 3, 2024 — May 8, 2026
  • Parathread ID: 3375
  • Funds Raised: 222 DOT ($1416)
  • Reward: 1 DOT : 3 CRU

Notes:

Before the parachain goes live, several technical upgrades and settings need to be completed, such as dependency upgrades, bridge enablement, and sudo removal. Therefore, it will take a few days before we enable the transfer functionality on the parachain.

Crust plans to bid for all 8 lease periods, meaning the contributed DOT will be locked for the duration of the parachain lease (24 months). Each reward proportion is 1 DOT : 3 CRU. All rewards will be released linearly for 12 months. Contributors can claim rewards once the parachain goes live.

How to Claim CRU Rewards:

  1. Claim: Import the JSON file of your account to the Crust Wallet. Use this voting account to submit a proposal on the Crust Apps.
  • Enter Crust apps, select Governance -> Treasury -> Submit proposal.
  • In the Value field, enter 1 CRU. Ensure your account balance exceeds 0.5 CRU to cover the 5% CRU stake required for submitting a proposal.
  • Click on the Subsquare icon at the far right of the proposal to navigate to Subsquare and edit your proposal.
https://crust.subsquare.io/treasury/proposals
  • The content should include “Your voting address + number of votes.” After verification by the Crust Council, rewards will begin to be distributed.
  • The Claim deadline is July 31st.

2. After the claiming, the rewards will be automatically distributed to the mainnet account. Please import the JSON file of the account into Crust Wallet to check.

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Crust Network
CrustNetwork

Crust Network is a decentralized cloud storage provider which was designed to realize our three core values: decentralization, privacy, and assurance.