Parallel Finance
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Parallel Finance

Parallel Heiko secures the Tenth Kusama Parachain Auction Slot!

Stats

Total raised amount: 202,793 KSM

Contributors: 10,472

Parallel is excited to announce the successful completion of the Heiko crowdloan. We are very grateful to our global community members who supported us in securing the tenth slot on the Kusama parachain auctions. This was an amazing achievement that would not have been possible without our community, investors, and partners. This is a significant milestone and paves the path to our next steps in creating a strong future for Parallel Heiko. As of today, Parallel Heiko is now producing blocks on the Kusama network.

Parallel Heiko Won the 10th auction slot with 202K+ KSM from 10K+ contributors

Parachain Launch Plan & Reward Distribution

As we begin the launch rollout process, our team will address the development, runtime upgrades, testing, and deployment of Heiko on the Kusama network. After we launch, we will distribute crowdloan rewards to our contributors. These are the next steps at a high level:

  1. Calculate contributions and final rewards (including referral bonus).
  2. Development for Substrate modules and components to enable vesting and rewards claim features; conduct final technical verifications.
  3. Stress test our application, remove sudo access, and runtime upgrades as needed to resolve issues.
  4. Launch mainnet and HKO vesting will begin.

Rewards before the launch of the referral system

1.The early bird rewards: Those who have contributed (<10K KSM) before the referral system went out will also get a 5% HKO bonus for your support.

2.The contributions after our cap at 200K KSM will also be rewarded at the same rate (1 KSM = 200 HKO).

Parallel is Hiring!

Read about our openings on our website, and email us your resume at Team@parallel.fi.

About Parallel Finance

Parallel Finance is an institutional-grade DeFi parachain building in the Polkadot ecosystem. We empower the community to earn interest on their assets, with the utmost safety and security in mind. We chose to build in the Polkadot ecosystem because Polkadot (and Kusama by extension) allows for faster and cheaper transactions, shared security, interoperability, and strong upgradability. Our primary goal is to create an innovative lending, borrowing, staking system that uses the power of Polkadot to generate the greatest capital efficiency for everyone involved.

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Parallel Finance

Parallel Finance

2.5K Followers

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