Even More Rewards Coming! Up to 150 PHA per KSM and New Special Edition NFTs!

Published in

Phala Network

4 min readJun 25, 2021

Dear Phamily：

The second round of the Kusama parachain slot auctions is now underway! Per the latest from polkadot.js, the number of KSMs backing Khala exceeded 20,000! Big thanks for your support!

In order to maximize our chances to launch our mainnet and start Phala mining as soon as possible, the Phala team has decided to add more rewards for our backers!

Details:

More Token Rewards

Basic Rewards go up by 20% (1:120)

Users will be rewarded 120 PHA for every 1 KSM supported. The ratio is now 1: 120 (KSM: PHA), effective for all users who have contributed.

30k KSM Stretch Goal Bump (now 1:150)

When KSMs staked for Khala Crowdloan’s break 30,000, the reward ratio will be automatically adjusted to 1: 150(KSM: PHA). Each KSM backing Phala in the Crowdloan will earn 150 PHA. Again, it’s effective for all users who contributed — so start referring!

🔥The effective APY for backing Phala’s Crowdloan is now over 45%!

New NFT Rewards

Missed the Early Bird phase and got no Khala Early Bird Gem? No worries, you can still earn a cool NFT to memorialize our first slot auction. We’re introducing two additional Honor Gem NFTs — Colorful Gem and Sparkling Gem — available to all accounts contributing at least 1 KSM during the course of the auction. Even if you’re already qualified for an Early Bird Gem, you can still get these new Gems!

1. Colorful Gem

Named for its many colors, this Gem symbolizes the enthusiasm and vitality of the Phala community. It helps bring good things to life! Holders of the Colorful Honor Gem are the beating heart of the Phala global community.

Any account contributing 1–50 KSM to Khala winning a slot will be recognized with a Colorful Gem.

2. Sparkling Gem

The Sparkling Gem glistens mesmerizingly in the dark. It may not be the showiest gem, but it stands ready to bring light when things are darkest; it is rare, powerful, and precious!

Any account contributing more than 50 KSM to Khala winning a slot will be recognized with a Sparkling Gem.

3. The Early Bird Honor Gem

The Early Bird Honor Gem is a blue, clear gemstone. It is flawless, symbolizing the pure hearts of the loyal contributors who immediately supported Khala from the start.

All who come out to support Khala during the Early Bird phase* will be recognized with an Early Bird Honor Gem. The Early Bird Gem is an honor to hold, but remember, it also increases all your Crowdloan KSM rewards by 1%. Since the base reward has risen to a 120:1 ratio, Early Bird holders will receive an extra 1.2 PHA for each KSM! (And… maybe it will become 1.5?😜)

*before June 22, and the Early Bird Honor Gem will be distributed before June 28

Support Khala Now!

Khala Crowdloan Dapp：https://crowdloan.phala.network/
Third-party platforms: OKEx, KuCoin, Kraken, Newland, Math Wallet, Polka.js, Atoken, Nutbox, imToken, TokenPocket etc. 👉 Tutorials

*Notes:

The total reward cap (15 million PHA) remains unchanged. Noted PHA rewards will be distributed after winning an auction.
NFTs will be sent to the KSM accounts used to support Khala and can be used via RMRK.（Only decentralized wallet address is available to receive NFTs）
Phala Network reserves the right to interpret any unexpected conditions or outcomes of the auction, the bidding, or the offers described here.

Phala’s Kusama Slot Auction Strategy

Phala Network will launch pre-mainnet Khala Network on Kusama.

medium.com

About Phala

Phala Network tackles the issue of trust in the computation cloud.

This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality. Built around TEE-based privacy technology already embedded into modern processors, Phala Network’s distributed computing cloud is versatile and confidential. By separating the consensus mechanism from computation, Phala ensures processing power is highly scalable but not wasteful. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.

As a member parachain of the Polkadot cross-chain ecosystem, Phala will be able to provide computing power to other blockchain applications while protecting the data layer, enabling possibilities like privacy-protected DeFi trading positions and transaction history, co-computing DID confidential data, developing light-node cross-chain bridges, and more.

On-chain services currently being developed on Phala Network include Web3 Analytics: high-performance smart contracts from Phala to enable highly concurrent mass data analytics with privacy, paving the way for an alternative to Google Analytics that inherently respects individual confidentiality.