Amplitude Wins Kusama Parachain Slot!
Amplitude wins the auction with 24 080 KSM contributed to the community crowdloan and is now rolling out the launch
Pendulum is delighted to announce the successful completion of the Amplitude crowdloan with more than 24 080 KSM (approximately $1 172 930) received from 604 contributors across the globe. This success means Amplitude now has a live Kusama parachain slot.
Amplitude will be the canary network of its sister blockchain, Pendulum. Amplitude & Pendulum aim to build the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain. Fintech and forex providers will be able to integrate their fiat services with DeFi applications such as specialized forex AMMs, lending protocols and yield farming opportunities. Amplitude will act as a testing ground for applications & network parameters for Pendulum and be powered by the native AMPE token.
AMPE token utilities include powering transactions, staking to secure the network & earn rewards and governing the protocol. Despite bearish market conditions, Amplitude had an impressively successful crowdloan campaign. This is perhaps due in part to the staunch community-first focus of the AMPE tokenomics. The Pendulum team decided to take no allocation of AMPE tokens for themselves or advisors. Token holders also benefit from AMPE having a 0% inflation rate with 100% of tokens being minted at launch. Click here to learn more about AMPE tokenomics:
Base reward: 600 AMPE for every 1 KSM contributed
Waitlist referral bonus: 10% additional AMPE, split equally between referrer and referral
Amplifier Campaign: 3% bonus AMPE credited to the referral link after completion.
Early Bird Bonus: 20% early bird bonus in AMPE tokens by contributing within the first 10,000 KSM that was raised.
Early Bird Bonus: 10% early bird bonus in AMPE tokens by contributing between 10,001–20,000 KSM being raised.
Kusama Parachain Crowdloans
Parachain auctions see projects competing for one of Kusama’s 100 parachains. These parachains can be described as sharded sidechains that interact with the network’s main Relay Chain that supports transactions and network security. Auctions happen via crowdloans that give community members a chance to lock up KSM tokens and make a bid towards the parachain, often in exchange for rewards such as native protocol tokens.
Visit the FAQs page for full details of the Amplitude crowdloan rewards and swing by the Pendulum Telegram or Discord any time to ask any questions. This crowdloan success marks a major milestone on the Pendulum & Amplitude journey towards building a future for forex on DeFi.
Kusama is a network built as a risk-taking, fast-moving ‘canary in the coal mine’ for its cousin Polkadot. It’s a living platform built for change agents to take back control, spark innovation and disrupt the status quo.
Pioneering the internet of fiat. Amplitude is the sister network of Pendulum on Kusama. It will act as a testing ground for Pendulum applications and network parameters and be powered by the AMPE token. Developed by Satoshipay.
Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
Keep your eyes on the Pendulum!