Phala Network
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Phala Network

Phala Crowdloan Upgrade | Contribute to Earn Double Rewards and Phala World Whitelist!

Phala Network team decided to continue to participate in the Polkadot remaining slot auction #7th to #14th. In order to win the auction of the Polkadot slots, Phala Network doubled the rewards of the last bidding strategy (#6 — #11) and added 1,500 seats for Phala World NFT whitelist qualification (PW) as a new reward to encourage more contributors for Phala Crowdloan.

At the same time, in response to the community’s concerns about the Phala and Khala network rewards and subsequent parallelism, Phala team launched a Tokenomic upgrade proposal (Gemini Update)- proposing to merge the mining rewards of the two networks, and distribute the rewards according to online Worker’s task. to ensure that equal distribution of network rewards and reduced slot auction impact on Phala cloud computing usage.

Proposal details: ​​https://forum.phala.network/t/topic/3389

2.0 slot auction reward strategy details are below:

➡️ Basic Rewards go up by 100% (1:24)

Users will be rewarded 24 PHA for every 1 DOT supported. The ratio is now 1: 24 (DOT: PHA). Note: All DOTs voted for Phala’s second batch of auctions (#6 — #11) have been returned, and they need to vote again.

➡️ Old Gangster bonus Doubled (10%)

The reward ratio for OGs has been adjusted to 10%:

  • Contributors from the previous Khala Kusama auction will have a 10% extra reward, on top of the basic rewards.
  • Contributors who voted for Phala in the last round of #6-#11 Polkadot crowdloan will get 10% bonus
  • So will the ones who have over 300 PHA on Khala address before block height #902400.

➡️ Time-limited reward — limited Phala World NFT whitelist eligibility

Phala will give out a special reward: NFT whitelist qualification for Phala Network’s native Metaverse game-mode project Phala World (PW). There are a total of 1,500 whitelist qualifications for the reward.

This will end before the PW official whitelist qualification competition begins. Phala Crowdloan contributors who are ranked in the top 1,500 according to the DOT contribution will receive this reward. Please refer to the official announcement time of PW for the specific end date of the event.

*Only support decentralized platforms.

Support Phala Now!

  1. Phala official website:https://www.phala.network/
  2. Third-party platforms: Polkadot.js, Parallel, Equilibrium, Subscan, Kraken, Gate, KuCoin

*Notes:

  • Noted PHA rewards will be distributed after winning an auction.
  • Phala Network reserves the right to interpret any unexpected conditions or outcomes of the auction, the bidding, or the offers described

About Phala

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

By organizing a decentralized network of computation nodes around the world, it offers high-performance services without relying on any cloud vendor. Phala workers run the programs in Secure Enclaves, a privacy technology already embedded into modern processors, enabling versatile and confidential execution. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.

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