Polkadex Crowdloan is now live: 2 million PDEX available for contributors!
PDEX rewards are coming to all Polkadexers who contribute to the Crowdloan and help Polkadex get a Parachain on Polkadot. Read our step-by-step participation guide!
The Polkadex Crowdloan is now live and accepting contributions! That means there are PDEX rewards for all Polkadexers who help Polkadex get a Parachain slot. And even more for those who are quick, thanks to the 15% early-bird bonus! All you basically need to get PDEX rewards is some DOT. This short guide will explain how much PDEX you can get and the steps you need to follow to get some. However, if you think you’ve got it all down and want to skip the guide, you can go ahead and contribute now!
Did you say PDEX rewards?
That’s right! We’re distributing 2 million PDEX in rewards for all the Polkadexers who want to give us a hand in the Parachain auctions. That’s a lot of PDEX. In fact, that’s 10% of the total supply of PDEX!
Let’s break it down: what will you get back in rewards?
- Base reward starting from 0.1875 PDEX per DOT. That’s just the base reward. The final PDEX base reward amount will most likely be higher since PDEX rewards are paid as a % of your contribution to the total DOT contributed.
- Plus 15% early-bird bonus on all contributions made in the first 72 hours.
- Plus 5% on all contributions after the first 72 hours and till the 9th day.
- An exclusive NFT for each of the top 1,000 contributors
- Plus 10% referral bonuses through the Launch Partners, 5% Referrer & 5% Referred.
- Plus even more with Launch Partner bonuses on top of all of the above!
Launch partner bonuses on top ?
Yup. We’ve partnered with Parallel Finance, Bifrost, and Equilibrium to offer an enhanced Crowdloan experience for all Polkadexers. If you contribute through our Launch Partners, you’ll receive even more bonus rewards, including liquid DOT, referral bonuses and extra tokens.
Liquid DOT ? What is that?
Liquid DOT are DOT futures (Usually represented by [x]DOT) made by the Launch Partners designed to keep participants liquid. As locking away DOT for 2 years may be daunting for some, Parallel, Bifrost, and Equilibrium provide a ‘liquid’ DOT token backed by the DOT used to contribute to Crowdloans. Liquid DOT are redeemable for DOT in a 1:1 ratio once the Parachain lease ends but they are also tradable and can be used to participate in money markets immediately after the auction. Whether it’s Parallel Finance’s cDOT, Bifrost’s vsDOT, or Equilibrium’s xDOT, the main utility of liquid DOT is that while your actual DOT is locked in the Parachain auction, you can use your liquid DOT to liquidate your DOT position whenever you feel.
Okay, so what exactly are the Launch Partner rewards?
Each Launch Partner’s offering is slightly different, but it is composed of some version of liquid DOT, a referral bonus, and the Launch Partner’s own tokens. That means you also get some extra exposure to other groundbreaking Web3 DeFi projects on top of your PDEX!
Parallel Finance Rewards:
- 4 PARA tokens per DOT
- 1 cDOT per every DOT
- 5% Referral Bonus
- 10 EQ tokens per DOT
- 1 xDOT per every DOT
- 0.5 EQ per DOT referral bonus
- 0.04 BNC per DOT
- 1 vsDOT per every DOT
- 0.02 BNC per DOT referral bonus
Crunching the numbers
Okay, so now that you know where all the rewards come from, let’s crunch the numbers on a contribution of 100 DOT, for example.
For 100 DOT, you would get:
- At least 18.75 PDEX, as a base reward
- Plus 2.8125 PDEX, for the 15% early bird bonus
- Plus 100 liquid DOT redeemable for your 100 DOT in two years
- Plus PDEX referral bonuses
- Plus partner-specific token rewards
And all that is assuming the 8 million DOT Crowdloan cap is reached. If, for example, the Polkadex Crowdloan receives 4 million DOT in total contributions, your base rewards would double. Here is a chart that shows the base rewards per DOT curve!
Here is a timely reminder that all contributions made in the first 72 hours of the Crowdloan going live (AKA from now until January 22nd at 11:59pm CET) will get an extra 15% PDEX rewards on top of the base reward!
How to participate in the Crowdloan
Is your DOT ready? The easiest way to contribute to the Crowdloan is through the Crowdloan page on the Polkadex website. You can think of that as the ‘menu’ as it contains a list of all of the Crowdloan’s contribution methods. As of right now, the only ways to contribute are through the Launch Partners or directly on-chain through the Polkadot.js/apps interface.
Important: If you have 1 PDEX in your Polkadot.js account, you can contribute as much or as little DOT as you want without worrying about the existential deposit. If you do not currently have any PDEX in your Polkadot.js account and wish to contribute less than 22 DOT, please buy at least 1 PDEX so your account will meet the existential deposit requirement of 1 PDEX. That way, your account will be considered as ‘active’ and you’ll be able to receive your PDEX rewards.
Here’s a short step by step guide on how to contribute through the Launch Partners:
- Install the Polkadot.js wallet and make a Polkadot.js account
- Get some DOT (if you don’t have some already) and send it to your Polkadot.js account
- Visit the Polkadex Crowdloan page: https://polkadex.trade/crowdloans
- Scroll down to use the calculator and see how much PDEX you’re guaranteed to get. You’ll most likely get more than that!
- Select your contribution method and, if you selected a Launch Partner like Parallel Finance, Bifrost, or Equilibrium, click on the links and follow the instructions on the partner’s page!
Prefer to contribute directly on-chain through Polkadot.js?
Here are the few steps to follow if you prefer to contribute directly through the Polkadot.js apps interface:
- Navigate to Network > Parachains > Crowdloan
- Find Polkadex on the list of Crowdloans and click ‘+ Contribute’
- Select your contribution amount
- Submit and sign the transaction!
Other ways to contribute coming soon
More and more contribution methods will become available to Polkadexers, including contributions through partner wallets, supporting centralized exchanges, and more! Whenever a new contribution method goes live, it will ‘light up’ on the Crowdloan page.
Don’t forget about the early-bird bonus!
- 15 % Bonus rewards for early-bird entries by 11:59pm CET on January 22nd
- 5% Bonus rewards for all contributions from 11:59pm CET on January 22nd to 11:59pm CET on January 27th
If you have any questions about the crowdloan or need help getting your PDEX rewards, make sure to check out the ‘Things to keep in mind’ and the ‘FAQ’ sections on the Polkadex Crowdloan page. If you can’t find an answer there, you may find it in the Polkadex Parachain & Crowdloan Strategy Medium article below:
Polkadex Needs You: Let’s Win a Parachain on Polkadot Together
The future of Polkadex is in your hands! We need your support to win a parachain slot in the auctions starting from…
If you still need to get in touch with someone from the team or a well-informed community member, drop into the Polkadex Discord server and send your questions over to the #crowdloan channel!
It’s the moment we’ve all been waiting for… Let’s do this!
Let’s work together to make Polkadex a parachain. Follow the channels below to stay in touch with the Polkadex community throughout the Crowdloan and beyond!
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