Zenlink SlotVault launched, participate in the parachain Crowdloan to win double incentives!

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Zenlink Foundation Ltd.

6 min readAug 31, 2021

According to the official announcement of Polkadot, the second round of parachain slot auction of Kusama network will be launched on September 1. The parachain teams planning to participate in this round of slot auctions have been launched Crowdloan activities one after another, including Manta, ChainX, etc.

Today, we are pleased to announce that the Zenlink SlotVault DApp, a decentralized PLO support application built by the Zenlink team, is now live, allowing community users to participate in parachain crowdloan and win double incentives!

What is SlotVault?

SlotVault is a decentralized PLO support application built by Zenlink in relation to the Polkadot parachain slot auction, designed to provide support for Zenlink’s associated partners to bid on parachain slots. By bringing additional incentives for users to participate in parachain crowdloan, it increases the success rate of parachain slot bidding.

Users participating in PLO through SlotVault will receive double token incentives from the parachain projects and Zenlink, bringing the “PLO as mining” experience.

What projects will SlotVault support?

As of now, Zenlink SlotVault will support the following projects.

Manta Network’s Sisternet Calamari Network
Clover Finance’s Sisternet Sakura
ChainX’s Sisternet SherpaX
Crust Network’s Sisternet Crust Shadow

Community users can go to https://slotvault.zenlink.pro/ to participate in the crowdloan initiated by the above projects to win additional ZLK rewards (Note: ZLK total supply is 100 million)!

What are the highlights of SlotVault?

Decentralized and Secure funds

Zenlink SlotVault is a DApp and will also be adapted for mobile and launched as a mobile wallet APP to provide convenience for more Polkadot community members.

At the same time, users voting for parachain projects through Zenlink SlotVault are the same as users voting for parachain projects through Polkadot.js, and their pledged KSM/DOT will go directly to Polkadot’s official crowdloan module and be locked, and it is public and transparent.

This means that users’ funds do not pass through the Zenlink SlotVault platform, guaranteeing the safety of their funds.

Double incentive and PLO as mining

By participating in parachain crowdloan through SlotVault, users will not only be rewarded with tokens from the parachain project, but also with additional ZLK (Zenlink native tokens) from Zenlink, which is a double incentive to achieve the effect of “PLO as mining”.

Unlocking liquidity in crowdloan pledges

SlotVault is in the process of integrating with the Bifrost SALP protocol, which will add an entry point for all parachain projects that are live on SlotVault to participate in their crowdloan through the SALP protocol, which will allow all partner project parties to issue crowdloan pledge derivatives vsKSM+vsBond, providing users with more flexible pledge options.

The crowdloan pledge derivative vsKSM will also be the first to go live on Zenlink DEX, making it easy for users to complete the Contribute-Swap (crowdloan pledge-trade) process in one-stop, thereby unlocking crowdloan pledge liquidity.

Achieving a win-win situation for all parties in the Polkadot ecosystem

Zenlink SlotVault platform takes into account the interests of crowdloan sponsors (parachain projects), crowdloan supporters, and community users in the Polkadot ecosystem, achieving a win-win situation for all parties.

For Crowdloan Sponsors: Crowdloan Sponsors can get more crowdloan support from projects and users to improve the success rate of slot auctions.

For Crowdloan Supporters: Indirectly participated in the auction session of Polkadot parachain slot, promoted deep cooperation with related parachain projects, and completed the original distribution of some tokens.

For users: Pledge KSM/DOT to support parachain projects bidding slots while getting double token incentives, and enjoy crowdloan support options to unlock pledged liquidity, greatly reducing the opportunity cost of participating in PLO.

What are the incentives for SlotVault?

SlotVault will provide ZLK as an additional incentive for users who participate in the crowdloan of our supported projects (Manta/Clover/ChainX/Crust).

The ZLK incentives involved in SlotVault take the slot auction batches of Kusama/Polkadot as the cycle and are divided into four categories based on the amount of crowdloan. In the case of successful bidding for slots for a parachain project supported by Zenlink, the rewards for each category are as follows:

The first category: the total amount of crowdloan ＜ 1,000 KSM. If the total amount of crowdloan participating in the project through SlotVault is less than the minimum incentive threshold of 1,000 KSM, then the user will not be able to get any ZLK reward.
The second category: 1,000 KSM ≤ total amount of crowdloan< 5,000 KSM. If the total amount of crowdloan participating in the project through SlotVault is greater than or equal to 1,000 KSM and less than 5,000 KSM, then each KSM will be rewarded with 3 ZLK.
The third category: 5,000 KSM ≤ total amount of crowdloan < 25,000 KSM. If the total amount of crowdloan participating in the project through SlotVault is greater than or equal to 5,000 KSM and less than 25,000 KSM, then each KSM will be rewarded with 4 ZLK.
The fourth category: the total amount of crowdloan ≥ 25,000 KSM. If the total amount of crowdloan participating in the project through SlotVault is greater than or equal to 25,000 KSM, then a contributor’s reward is determined based on that individual’s proportional contribution to the total number of KSM tokens in the crowdloan at auction close, for example, Your ZLK Rewards = (Your KSM Contribution From SlotVault/Total KSM Contributions From SlotVault) * 150,000 ZLK.

Notes:

The above rules are for a single parachain project rather than all parachain projects.
If the SlotVault supported project fails to secure the slots, as long as the total amount of crowdloan for the project through SlotVault participation is greater than or equal to 1000 KSM to make each KSM receive a ZLK reward; otherwise, there is no ZLK award.
Reward release rule: 50% will be released immediately when Zenlink DEX DApp goes live and the current round of slot auctions ends, and the remaining 50% will need to be unlocked in the first month of ZLK launch after your Zenlink DEX DApp transaction volume reaches $1,000 or the injected liquidity exceeds $5,000. The unlocking time is one month from the date of the ZLK launch.

In the case of Manta Network’s sisternet Calamari Network, the expected incentive for a user to vote for Calamari Network via SlotVault is 1 KSM = 10,000 KMA + x ZLK (KMA incentive rules from Manta Network official announcement). Assuming that Calamari Network is successful in bidding for the slot and the user’s participation in the crowdloan through SlotVault is in the range of greater than or equal to 5,000 KSM and less than 25,000 KSM, the number of ZLK rewards x=4.

Now, Zenlink SlotVault has been officially launched, users can go to https://slotvault.zenlink.pro/ or through the Zenlink webpage at the top right corner of the “SlotVault” to access and vote for the supported projects, and also can be directly accessed in the mobile wallet APP, which will be released later. A list of supported wallets will be released later.

SlotVault Tutorial

You can learn how to install a Polkadot.js wallet here. And learn how to use SlotVault to participate in parachain crowdloan here!

Learn more about Zenlink

📚 — Whitepaper