Parallel Finance
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Parallel Finance

Heiko token distribution, Parallel Heiko crowdloan, Kusama parachain auction
Parallel Heiko Crowdloan

HEIKO Token Distribution and Crowdloan Updates — Sept 2021

TL;DR

  • Parallel-Heiko is currently hosting a crowdloan to bid for a Kusama parachain slot and its parachain lease will be one year.
  • We updated our token allocations and increased rewards to our crowdloan contributors to 5%. The crowdloan contribution is soft capped at 150k KSM (with a hard cap at 200k KSM).
  • We have a referral program and offering a 10% bonus to referrals for our crowdloan.
  • Click here for the crowdloan participation guide. Contribute now: https://app.parallel.fi/#/

Token Distribution:

Having heard your feedback, the team is happy to announce that the token distribution has been revised to give more tokens back to the community. Here are the new changes:

  • An increase in crowdloan allocation from 2.5% to 5%.
  • An increase in the ecosystem & dev fund allocation from 10 to 15%.
  • A decrease in the liquidity mining allocation from 40% to 35%.
Updated token distribution of HEIKO token

The total supply for Heiko (HKO) token is 1 billion. Investors, team, and advisors‘ token vesting will have a 1 year cliff and a 2 year linear vesting schedule. The HKO circulating supply will come from crowdloan rewards vesting and the liquidity mining program. The circulating supply in the first year will be approximately 5% of the total supply. The detailed information regarding the token vesting and release schedule can be found in our Gitbook here.

HKO Token release schedule

Crowdloan Rewards and Bonuses:

The crowdloan rewards were previously dynamic (calculated based on the total KSM amount contributed) and guaranteed a minimum of 50 HKO tokens per KSM contributed if our maximum cap of 400k KSM was reached. In this new update, we will cap the maximum KSM contribution to 150k-200k KSM (depending on the progress of the parachain auctions) and increase the crowdloan rewards allocation from 2.5% to 5%. The minimum guarantee will now be 200 HKO tokens per KSM contributed. After the maximum cap is reached, the remaining amount of HKO tokens will be used as a reserve for future crowdloans.

And lastly, we have created a referral bonus, in which the referrer and the referee will each receive a 5% bonus in HKO (total of 10%) based on the amount of KSM contributed. We will release more details regarding the referral program soon.

If you have already participated in our crowdloan, we thank you for your contribution. Welcome aboard!

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Parallel Finance

Parallel Finance

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Decentralized lending, staking, and borrowing built on the Polkadot Ecosystem.