Krystal DeFi
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Krystal DeFi

What are the Participation Tiers on KrystalGO?

Updates
(May 11, 2022): The KrystalGO point system has been revised effective 11 May 2022. Please refer to our Gitbook for the latest update.
(November 15, 2021): Tiers have been revised and updated.

Thank you for your overwhelming support since our official announcement of the upcoming launch of Krystal GO, a community-focused Initial DEX Offering (IDO) launchpad for next-generation crypto gems.

In this post we’ll share more on the exact requirements to participate in any upcoming IDOs on KrystalGO. We will also elaborate more about the Participation Tiers.

  1. Complete KYC
    What is KYC?
    Where can I do KYC?
    When can I start doing KYC?
  2. Amount of Staked KNC
    What is KNC?
    Where can I stake KNC?
    How are the points calculated?
    How much KNC do I need to stake?
    When can I start staking KNC?
  3. Trading Volume on Krystal
    What is Krystal?
    Where can I use Krystal?
    How are the points calculated?
  4. Participation Tiers
    Topaz
    Obsidian
    Emerald
    Sapphire
  5. 4 Projects Coming Soon — Start Prepping Now!
Updated: November 15, 2021

Before you can register to participate in any token launches, you have to complete KYC.

1. Complete KYC

What is KYC?

KYC stands for “know your customer”. It refers to the verification of a customer’s identity.

Identity verification requires information that can be used to verify your identity. The following documents will be required:

  1. Proof of Identity: ID card or Passport

Where can I do KYC?

KYC will be done directly on the KrystalGO website (live on October 28, 2021), via our service provider Blockpass.

When can I start doing KYC?

KYC can be done from October 28, 2021 onwards.

To qualify for any IDOs, you need to do KYC and accumulate points via step 2 (staking KNC) and step 3 (trading volume at Krystal).

2. Amount of Staked KNC

What is KNC?

KNC is the native token of Kyber Network, a liquidity hub that connects liquidity from a wide range of sources to power instant and secure crypto token swaps in any decentralized application without the need for an intermediary.

Where can I stake KNC?

You can stake KNC on the KrystalGO website (live on October 28, 2021). Only KNC staked on the KrystalGO website will be calculated for points.

You can stake KNC on your preferred chain. We support KNC staking on Ethereum, Binance Smart Chain (BSC) and Polygon.

Please kindly note that KNC staked on KyberDAO is not eligible for points as KyberDAO is a platform operated by Kyber Network, not Krystal.

How are the points calculated for Staked KNC?

You get 1 point for every KNC staked.

How much KNC do I need to stake?

We have 4 tiers. Depending on which tier you want to qualify for, staking requirements are different.

  • Tier 1 Topaz — no minimum
  • Tier 2 Obsidian — minimum 1,200 KNC
  • Tier 3 Emerald — minimum 4,000 KNC
  • Tier 4 Sapphire — minimum 14,000 KNC

We will cover more about it in the later part of this post.

When can I start staking KNC?

From October 28, 2021 onwards, at KrystalGO website.

3. Trading Volume on Krystal

What is Krystal?

Krystal is a multi-chain platform that allows you to swap tokens, earn passive income, manage DeFi & NFT portfolio, and access market insights.

Trade volume of token swaps (calculated in USD) will be used for points calculation. Krystal currently supports DeFi services on 6blockchains — Ethereum, BSC, Polygon, Avalanche, Fantom and Cronos. To accumulate points, you can trade on any blockchain.

  • For help on how to set up your wallet to start trading on Krystal, you can watch our tutorial videos.
  • More details can also be found on our support page.

Where can I use Krystal?

Krystal is available on Desktop, Android, iOS and APK.

How are the points calculated?

  • We will calculate your trade volume in USD in the 30 days before the end of a project’s registration stage.
  • You will receive 0.1 points for every 1 USD of trade volume.
  • We will accumulate and calculate your trade volume on all of Krystal’s supported blockchains (Ethereum, BSC, Polygon, Avalanche, Fantom and Cronos).

Example:

Alice uses Krystal to trade on multiple blockchains. Her 30-day trade volume is as follows:

-$100 on Ethereum, $10,000 on BSC, $1,000 on Polygon, $2,000 on Avalanche

Her total trade volume is $13,100. She will be allotted 1,310 points.

With the points accumulated from KNC staked (1 KNC = 1 point) and trading volume on Krystal (1 USD = 0.1 points), you will be allocated into your respective tier.

4. Participation Tiers

Tiers are named after precious gemstones (with Krystal being the most precious of cos 😉).

Updated: November 15, 2021

Topaz

(Effective from November 15, 2021)

There are no minimum requirements for amount of KNC staked and trading volume on Krystal. You can achieve the point requirement by either staking KNC, swapping tokens on Krystal, or a combination of both actions

Eg. Stake 50 KNC + Trading volume 2,500 USD = 300 points

  • All qualified participants in this category will be gathered
  • Qualifiers will be picked using a randomiser
  • Once you are qualified, you can purchase the IDO tokens

Obsidian

KNC Staked: Minimum 1,200 KNC

Eg. Stake 1,500 KNC + Trading volume 15,000 USD = 3,000 points

  • All qualified participants in this category will be gathered
  • Qualifiers will be picked using a randomiser
  • Once you are qualified, you can purchase the IDO tokens

Emerald

KNC Staked: Minimum 4,000 KNC

Eg. Stake 6,000 KNC + Trading volume 40,000 USD = 10,000 points

All qualified participants in this category will be guaranteed an allocation.

Sapphire

KNC Staked: Minimum 14,000 KNC

Eg. Stake 20,000 KNC + Trading volume 150,000 USD = 35,000 points

All qualified participants in this category will be guaranteed an allocation.

Token Allocation per Tier

  • Your exact allocation will only be revealed a few hours after the end of the Whitelist Registration period.
  • Participants have to make sure to maintain your tier until your allocation is revealed.
  • The higher the tier, the greater the token allocation.
  • The allocated token amount in each tier will differ on a by-project basis. It will be revealed during each project’s IDO announcement.

4 Projects Coming Soon — Start Prepping Now!

We will be revealing more information on October 22 about the first 4 projects launching on KrystalGO soon. Among them, are Pegaxy and RIFI United.

If you missed it, RIFI United has already released some exclusive updates here!

Get the best token swap rates for KNC on Krystal

Krystal is natively integrated with multiple DeFi protocols on multiple blockchains (KyberDMM, Uniswap, PancakeSwap, SushiSwap, Quickswap et. al.) to bring you the best token swap rates.

You can swap any tokens for KNC on your preferred blockchain.

Pro-Tip: By trading KNC on Krystal, you can grow your trade volume on Krystal. This will benefit you when we calculate points for trading volume on Krystal.

We hope you’re ready! Tweet us or send us a message on Telegram if you have any other questions.

We’ll also be holding an AMA soon to address all your questions — stay tuned for that announcement.

About Krystal

Krystal is a multi-chain platform to simplify access to popular decentralized finance (DeFi) services and manage NFTs.

To simplify a user’s DeFi experience, Krystal has built an intuitive user interface that acts a single point of access to transact with multiple protocols such as KyberDMM, Uniswap, Aave, Compound, Venus Protocol, PancakeSwap, SushiSwap, QuickSwap, ApeSwap, MDEX, BabySwap, BakerySwap, Pangolin & Kyber Network.

Krystal aims to be every user’s go-to venue for swapping tokens, earning passive income, NFT management, portfolio management and market insights. Topping it off, Krystal’s one-of-a-kind rewards program earns users bonus incentives when they trade or successfully refer friends. Since its launch in April 2021, Krystal has attracted thousands of users from over 87 countries.

Krystal currently supports 23 DeFi services on 6blockchains — Ethereum mainnet, Binance Smart Chain, Polygon, Avalanche, Fantom and Cronos. It will soon expand to other networks such as Solana and Polkadot to cater to more users.

Navigate the DeFi Space now with Krystal!

For APK and other ways to download, please refer to the Krystal website at http://krystal.app

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Swap tokens, earn passive income, manage NFTs, participate in token sales via KrystalGO, cutting edge portfolio management and market insights tools; all whilst benefiting from our rewards programme. Now supporting services on 10 blockchains.

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