Parallel Finance
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Parallel Finance

How To Claim Your PARA Rewards

Parallel has fully enabled the distribution and transfer abilities for PARA crowdloan rewards.

Contributors of Parallel crowdloan can receive PARA rewards by claiming their freshly vested PARA. Please follow the guide below to claim your PARA.

Parallel Crowdloan Stats:

Parallel participated in the Polkadot slot Auction and received a total of 10,751,518.6195417478 DOT contributions.

Contributed by Parallel: 8,538,095.0820717 DOT

Contributed by Polkadot{js}: 542,299.7088 DOT

Contributed via Binance: 1,671,123.8287 DOT

The reward for the Parallel crowdloan is 12.5% ​​of the Parallel total supply, all 1.25 billion PARA will be allocated to the contributors of Parallel this Crowdloan.

12.5% ​​$PARA Reward Distribution Breakdown

1. Basic rewards (all contributors):

1DOT=33 PARA (Parallel Auction Loan users); 1DOT=25 PARA (Binance and Polkadot{js} contributors)

2. Referral rewards (Parallel Auction Loan users):

10% referral reward, 5% to the referrer, 5% to the referee

3. Early Bird Rewards (Parallel Auction Loan users):

Community early bird rewards up to 40% (contribution <100,000 DOT), early-bird rewards details:

https://crowdloan.parallel.fi/#/auction/contribute/polkadot/2012

4. Remaining part $PARA** (all contributors):

1 DOT=76.771 PARA

**The $PARA for the Remaining part is calculated based on the amount remaining in the 1.25B $PARA allocated to the first Crowdloan. All remaining amounts beyond the base reward and bonus reward will be distributed to our backers.

How to Claim $PARA?

Your shares need to be claimed as they vest and become available. Every block generates a newly unlocked amount of $PARA reward based on the vesting period and your original contribution. In other words, you can claim your rewards in each block as they vest.

  1. Enter the Parallel network at Polkadot{js}

Users must navigate to Polkadot.JS and enter the Parallel Network. With your wallet connected navigate to the following link: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc.parallel.fi#/explorer

2. Click on Developer > Extrinsics

Next, hover over “Developer” at the top of the page and then click “Extrinsics”

3. Select Vesting > Select Claim

Ensure you have the correct account selected then click on “submit the following extrinsic” and choose “Vesting”. A new option to select “Claim” should appear next to “Vesting”.

4. Submit the transaction to complete the claim of the reward

Once you’ve confirmed all details above are correct select “submit transaction” in the bottom right corner of the page.

For more questions about the distribution of PARA rewards, you can enter the official community below for support.

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Parallel Finance

Parallel Finance

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