Polkadot Parachain Slot Auction Has Started

on November 11, Polkadot’s first batch of Parachain Slot auctions has officially started. Currently, there are 8 Crowdloans participating in the project, namely Acala, Moonbeam, Parallel Finance, Astar, Manta Network, Clover Finance, Litentry , SubDAO, Acala currently supports the most DOT , and has locked more than 12 million DOTs.

The first batch of parachain strategies participating in the auction are summarized as follows:

Acala Network

Acala Network used 17% of the total ACA as a bid reward, that is, 170 million ACA, in order to obtain a 96-week parachain slot lease period. 100% of the ACA will be distributed after the network is online to support transfers, of which 20% of the ACA will support transfers after the launch, and the remaining ACA will be released linearly in units of blocks within 96 weeks. At the same time, there are additional rewards and limited edition NFTs that attract the active participation of community users.

At the same time, users who use IcDOT for Crowdloan, 100% of the IcDOT will be issued at the same time as the ACA after the launch, and 100% of the IcDOT will be mobile and can be used within the Acala DeFi protocol. Allow users to obtain maximum liquidity while enjoying Crowdloan incentives. After the 96-week parachain lease period ends, IcDOT can redeem DOT 1:1.

Moonbeam

Moonbeam uses 10% of the initial supply as the total auction reward, which is 100 million Glimmer. 30% will be unlocked when the parachain is launched, and 70% will be distributed linearly in blocks during the 96-week lease period.

Astar Network

Astar uses 20% of the total supply for Crowdloan, 15% as the basic reward, and 5% as the additional reward pool. Astar will distribute 10% after the transfer function is activated, and the remaining 90% will be released linearly within 22 months. In addition, additional rewards such as 10ASTR/DOT referral rewards, 20% early bird rewards and 10% Shiden supporter rewards are also very attractive.

Clover Finance

Use 20% of the total supply of token CLV (200 million CLV) to establish a token reward pool to reward crowd loan supporters. When the auction is successful and the project parachain starts, 28% of crowd loan rewards will be issued immediately, and the remaining 72% It will be unlocked monthly in the next 23 months. If Clover fails to bid in the first batch of auctions, additional CLV will be used to compensate contributors in crowd lending activities.

Parallel Finance

Parallel uses 10-15% of the total amount (10 billion PARA) for Crowdloan contribution (1.5 billion PARA tokens), Parallel’s parachain lease period: 96 weeks, PARA unlocking period: 24 months linear release, Parallel provides 5 types Reward method, by contributing to Parallel Crowdloan through Auction Loan products, users can get all types of rewards. Basic rewards: 1 DOT = 33 PARA, referral rewards: 10% referrals get 5%; referrals get 5%, community early bird rewards: 40%, NFT rewards: Parallel will allocate 1,000 for users participating in Parallel Crowdloan NFT as an incentive. These NFTs will be used in Parallel’s parachain in the future, with cDOT as a liquid asset: Anyone who participates in the Crowdloan project through Auction Loan contribution, users will get 1DOT as a liquid asset in the 2-year DOT pledge process. After Parallel’s parachain is online, it can be used in Parallel’s lending market and AMM market.

Manta Network

Manta Network’s latest Crowdloan strategy: instead of adopting a fixed reward ratio of 1DOT:5MANTA, all 15.6% MANTA rewards will be allocated to the first round of Polkadot Parachain Crowdloan participants in proportion to their contribution, including 12% basic rewards and 3% liquidity Mining rewards and 0.6% Binance contribution award.

The calculation formula is: basic reward = (your DOT contribution / total DOT contribution to Manta) * 120,000,000 MANTA; liquidity incentive reward = (your DOT contribution / total DOT contribution to Manta) * 30,000,000 MANTA. Among them, liquidity incentives can be obtained for participation in decentralized platforms.

SubDAO

SubDAO offers a variety of rewards:

GOV auction total reward: 30% of the total amount of GOV first issuance, that is, 300 million GOV.

Basic reward: The basic reward is 20%, which is 200 million GOV. For every DOT pledged, an initial reward of 20 GOV will be obtained, and 10,000,000 DOT votes are expected to be raised. In addition to the 200 million basic reward, there are 100 million GOV as other rewards.

Early bird reward 5%: SubDAO will reward the first 1,000 pledged users with an extra 5% early bird bonus. )

Invitation reward 5%: SubDAO official Crowdloan page can obtain the invitation link and exclusive recommendation ID. Use the recommendation code to successfully invite users, and both the recommender and the referee will receive 5% of the invite reward of the referee. )

“Strong Supporter” up to 10%: Users who vote for 100 DOT or more will receive additional bonus rewards

“Sprint Plan” Up to 6%: When the total number of DOTs that support auction lock reaches a certain order of magnitude, all auction supporters will receive bonus bonuses

After Starfish Network successfully auctions the slot and runs smoothly as a parachain, 34% of the GOV rewards will be released immediately; the remaining 66% of the GOV rewards will be released linearly for 96 weeks.

Currently, the auction to determine the support SubDAO channels include Polkadot -JS, Bifrost, Zenlink, the Math purse to the center of the platform, as well as Huobi, Gate, MEXC and other centralized trading platform.

Litentry

Litentry will use 20% of the total supply to incentivize supporters who help Litentry gain an advantage in the auction. Supporters of all auctions can share a total of 20 million LIT reward pools. For every 1DOT locked, participants will get at least 2.5LIT rewards. The final reward will be calculated based on the percentage of each participant’s contribution to the Crowdloan pool.

In addition, users can also get up to 20% extra rewards. Before November 11, participating in Binance can share an extra 500,000 LIT. At the same time, users can unlock DOT liquidity and get extra PARA through Parallel’s Auciton loan. award.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/polkadot-parachain-slot-auction-has-started/
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