Decide on DOT locked in PLO1 and xDOT before March 12
Firstly, we are thankful to all our supporters for their incredible joint efforts to collect an astonishing 2M+ DOT for Equilibrium. That fact proves once again that the community understands and believes in Equilibrium’s importance and potential.
The mechanic of candle auctions brings a chunk of randomness to the outcome of the auction. As our team is used to having a plan B in any case, we’ve decided to get prepared for the scenario when we haven’t got a slot in this batch.
We are asking our supporters who staked via xDOT or in PLO1 (April 2021) to clarify if they want to keep their DOT for our crowdloan in the next batch that kicks off on March 12. Many of them have already confirmed their support. It will be also very helpful to know if you want to join the next batch as well. Understanding the resources we have will help us act more effectively then.
As such, if you decide to keep DOT in our crowdloan, here’s what you can expect if we win a slot:
- Automated DOT restaking for the next batch;
- Additional 100 EQ : 1 DOT for PLO1 participants;
- A special bonus of 300 EQ : 1 DOT for all crowdloan participants (on top of base reward 200 EQ);
- This special bonus will be the maximum possible in the next batch.
You will need to cast your vote here until March 12 to activate the preferences above.
Let us walk you through all options for each category of our supporters in greater detail.
PLO Phase 1 participants
We had a commitment that users who participated in the PLO phase 1 (DOT / EQ swap) will have a right to redeem their DOTs in return for EQ tokens. If Equilibrium doesn’t win a slot within 5 months after the auctions start on Polkadot (the exact date falls on April 12, 2022) they can execute their right on this reverse swap.
April 12 is right in the middle of the crowdloan campaign for the next batch of auctions. So we cannot reuse these DOT for the next batch if we don’t confirm with PLO1 participants that they don’t want to swap EQ back for DOT right away.
So if you decide to keep DOT staked, you will be able to execute the right on the reverse swap either on May 31 or at the end of the parachain lease if we get a slot. Also, you can expect an additional 100 EQ on each DOT when we win a slot.
▶ Decide on your DOT here.
xDOT Equilibrium contributors:
We have a whopping ~ 1.1M DOT collected via xDOT so far. All contributions will return back to Equilibrium custody account at the end of the current batch if Equilibrium doesn’t win the slot.
No matter when exactly you have contributed to our current crowdloan via xDOT. You will get a special 300 EQ bonus on each DOT if you decide to keep them with us for the next batch. Bear in mind, that the crowdloan strategy for the next campaign will differ from our current offering, and this special bonus will be the assured maximum possible.
▶ Decide on your DOT here.
Referrers
If your friends whom you referred to our crowdloan decided to keep their DOT with us you will be still eligible for referral bonuses on your friends’ contributions.
Summing up the decision making mechanics:
- The voting will start today (March 9, 2022) and will last until March 12, 2022 23:59 UTC
- Participants will have two options: “Stand by” or “Opt-out”
- Any account will have a chance to cast a vote only once
- After the user has voted, there won’t be any chance to alter the vote
- Please be sure to use the Polkadot address that was used for contributions before
- If you contributed from multiple accounts, you will need to vote using each of them
You can cast your vote here.
