Join the Crust Crowdloan for the Polkadot Parachain Slot Auction

Referendum 39 has been recently passed, setting the first parachain auction on Polkadot to start on 11 Nov. There will be two batches of auctions:

• The first: five auctions, starting 11 Nov, seven days each, beginning every seven days, for lease period 5–13 (LP6 is slated to begin 15 Dec)
• The second: six auctions, starting 23 Dec, seven days each, beginning every 14 days, for lease periods 7–14 (LP7 is slated to begin 09 Mar 2022)

Crust is fully prepared for cross-chain storage on Polkadot

As a dStorage project in the Polkadot ecosystem, Crust builds on top of Substrate and provides a native cross-chain communication pallet based on XCMP (Cross-Chain Message Passing) called xStorage. The basic idea of xStorage is shown below:

Crust plans to launch the Crowdloan for the second batch of parachain auctions on Polkadot, which will cover 5 auctions with a goal of raising 5,000,000 DOT.

Rewards for Contributors

1DOT will be rewarded with 0.2CRU

Crust plans to bid for all 8 lease periods, and once succeeded, contributed DOTs 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.

How to Participate in the Crowdloan

1. Participate in the auction activities through Polkadot’s Crowdloan mechanism, and follow the instructions given by Polkadot.
2. Participate in the auction through the auction activities by exchanges, wallet applications or other third-party organizations. Crust will announce the third-party participation channels soon.

Understand Crust’s Polkadot Parachain Auction Plans

At the same time, Crust is also participating in the Kusama slot auction.

Rewards for Kusama Slot Auction

1 KSM: 1 CRU + 1,000 CSM

Crust plans to bid for 8 consecutive lease periods. If the bidding is successful, the contributor’s KSM will be locked until the end of the lease period, for a total of 48 weeks. Contributors will receive a reward of 1 CRU + 1,000 CSM per KSM, and there are 80,000 CRU + 80 million CSM allocated to reward crowdloan contributors. 30% of the reward will be released immediately, and 10% will be released for each subsequent lease period (each 6 weeks).

Crust Shadow Crowdloan for Kusama Auctions 6–10

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