Referendum #3 has passed and the 3-day enactment period has ended. In other words, Polkadex Crowdloan contributors can now claim their well-deserved PDEX!
In case you need a refresher, Polkadex secured a parachain slot in 2022 after winning parachain auction #16 with nearly 1 million DOT loaned to the Polkadex Crowdloan by more than 2,300 contributors. As a thank you to all contributors, Polkadex pledged 2 million PDEX in rewards, which translates to a little over 2 PDEX per DOT contributed. Thanks to the passing of Referendum #3, the 2 million PDEX in rewards have now been transferred from the Polkadex Treasury to the Rewards Pallet.
Why did Polkadex secure a parachain slot in the first place?
The Polkadex parachain connects Polkadex to the rest of Polkadot. It allows for secure and seamless transfers of value from other parachains to Polkadex Orderbook and back via XCM. In simple terms, the Polkadex parachain means Polkadex Orderbook can support token listings from across the Polkadot ecosystem.
Claiming your rewards
If you contributed to the Polkadex Crowdloan and helped Polkadex secure a parachain slot, it is time for you to claim your PDEX rewards!
Please note that there are two different ways of claiming your Crowdloan rewards. While both are listed below, you will only be able to claim using one of the methods as you cannot claim your rewards more than once. For each of the claiming methods below, you will need over 1.1 PDEX in your contributing account. Here are the two different methods you can follow to claim your rewards:
- Visit the Crowdloan rewards page.
- Make sure your Polkadot.js extension wallet is set to “Allow use on any chain” and make sure you have a balance of over 1.1 PDEX in your wallet.
- From the drop-down menu, select the Polkadot.js account you used to contribute to the Polkadex Crowdloan and connect.
- The interface will show you the total rewards for this address, the amount of rewards that are claimable, and the ones you have already claimed.
- Click ‘Claim’ to initialize your claim and confirm the transaction on your wallet extension. This will move the rewards to your wallet.
- Click ‘Unlock’ to unlock your claimable rewards and confirm the transaction on your wallet extension. This will unlock the vested rewards in your wallet.
- You’ve claimed your Crowdloan rewards!
- If you want to contribute to securing the network, you can stake your Crowdloan rewards. Click on ‘How to Stake’ for a quick tutorial.
If you run into an issue where the claiming page UI is asking you to install the Polkadot.js browser extension but you already have it installed, you will need to give your browser extension permission to access the site. Here’s how to do so:
- Open the Polkadot.js browser extension and click on the Settings button at the top right of the page (Gear icon)
- Click on “Manage Website Access”
- Search for polkadex.trade
- Toggle the buttons to the right to give permissions to the domain
- Refresh the polkadex.trade/rewards page
- Navigate to the Accounts page in the Polkadex.js explorer and double check that the account you contributed to the Polkadex Crowdloan with has an existential balance of 1.1+ PDEX in it.
- From the Developer drop-down menu, select Extrinsics.
- Select the ‘rewards’ extrinsic from the drop-down menu and select ‘InitializeClaimRewards’ to initialize the rewards claim the first time you are claiming. Enter the reward id as ‘1’ and submit the transaction by signing the pop up message.
- Once you successfully initialize your rewards claim by signing the message, select the ‘claim’ option under the rewards extrinsic and enter the reward id as ‘1’. Once you sign the pop up message, all the rewards available to you up until that block will be claimed and unlocked in your account.
- Congrats, you’ve claimed your Polkadex Crowdloan rewards via Polkadot.js apps!
More good news
The amount of PDEX that will be unlocked once you claim your rewards will include the 25% instantly unlocked, plus a linear vesting of the remaining 75% since the start of the lease period. That adds up to about 68% of instantly unlocked PDEX once you claim!
Stake your rewards and secure the Polkadex network
You can use your new PDEX to keep the Polkadex network, and therefore, Polkadex Orderbook, secure. Stake your PDEX to take on an active role in the Polkadex network and enable the future of decentralized finance. Here’s a quick guide on how you can stake your PDEX!
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Polkadex is a fully non-custodial, peer-to-peer, orderbook-based cryptocurrency exchange for the DeFi ecosystem built on Substrate and designed to become the ultimate trading engine for Web3. Polkadex has developed Polkadex Orderbook, an easy-to-use platform that combines the benefits of centralized and decentralized exchanges into one cutting-edge, non-custodial solution that caters to all crypto traders.