Crab Parachain Part IV: Crab Crowdloan
--
Key Points
- Announced that Crab Network to join Kusama Parachain Auction
- Announced the rules and rewards of the Crab Crowdloan
- Created Crab Crowdloan module which starts on block # 10840887 on Kusama network
- Launched the article about the guide to participate in the Crab PLO page
- Crab won the 22nd Kusama Parachain Slot Auction
- Check rewards on Crab PLO page
Crab Crowdloan FAQs
When will the tokens be distributed?
Thanks to all contributors for your support! Crab Network has won the 22nd Kusama parachain slot, after Crab Network is successfully connected to Kusama (#block 11491800), about in one week, 10% CRAB and CKTON will be immediately released, meanwhile, the Metaverse NFT Package will be released. And the other 90% CRAB rewards will be linearly released within 44 weeks.
Do I need to claim my tokens (CRAB+CKTON)?
No. The CRAB and CKTON rewards will be distributed to the Substrate-Based Crab Chain address associated with the Kusama address you used to contribute. In other words, you also don’t need to create a Crab account to receive your tokens.
How can I get my Metaverse NFT Package?
As long as your contribution share is greater or equal to 1 KSM during the whole crowdloan(third-party exchanges or PLO aggregators are not eligible), you can get an Evolution Land Metaverse NFT Package. After Crab Network is successfully connected to Kusama(#block 11491800), you can claim this reward on Crab PLO page, and the reward distribution and claim details will be announced. Please stay tuned.
According to the rules of Crab crowdloan, I contributed during the “Final Stage”, does it mean that I will get lower rewards?
The “Early Bird Program” detailed Algorithm:
- Pioneer Stage (120% reward boost): from the start of the Crab crowdloan to the start of the ending period of the 1st slot.
- Regular Stage (100% reward): from the start of the 1st slot ending period to the winning auction’s candle light-up time. During this stage, contributors will receive a 100% of the reward.
- Final Stage (100% to 0 linear regression): from candle light-up time to the result-determine block within the winning auction. During this stage, rewards will reduce linearly to zero.
More explain about the Parachain Slot Auction, please refer here.
If supporters contributed in the “Final Stage”, they will get lower CRAB and CKTON rewards, but to thank these supporters, as long as these supporters each contribution share is greater or equal to 1 KSM during the whole crowdloan(third-party exchanges or PLO aggregators are not eligible), they each also can get an Evolution Land Metaverse NFT Package.
When will I get my KSMs back?
Crab network candidate successfully secured a slot. In this case your tokens will be released after the lease period of the Crab network has come to an end. For more details, please refer to https://support.polkadot.network/support/solutions/articles/65000177342-crowdloans-faq-s.
Contact Us
If you have any problems, please send an email to hello@crab.network.
About Crab Network
Follow Us: [Github] [Website] [Medium] [Telegram] [Twitter]
Crab is a canary network with real economic value for Darwinia, and its positioning is similar to Polkadot’s Kusama Network. Crab Network has won the 22nd Kusama parachain slot! You can check Crab status through Polkadot{.js} , Subscan or Subview.
Crab provides smart contract solutions based on DVM (Darwinia Virtual Machine), which is compatible with the EVM (Ethereum Virtual Machine) paradigm at a low level. Therefore, it is easy for projects in the Ethereum ecosystem to migrate to the Crab Smart Chain. (Tips: DVM is built on Frontier with a fully EVM-compatible instruction set and an Ethereum RPC-like external interface.)
