Polkadex Crowdloan Partners with Parallel Finance

Polkadex Crowdloan contributors on Parallel Finance not only get PDEX rewards, but also liquid DOT & extra rewards thanks to our newest crowdloan partner!

Parallel Finance Rewards for Polkadex Crowdloan contributors

Every Polkadexer who contributes to the Polkadex Crowdloan through Parallel Finance will receive the following 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.
  • 15% early-bird bonus on all contributions made in the first 72 hours.
  • 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
  1. 4 PARA tokens per DOT
  2. 1 cDOT per every DOT
  3. 5% Referral Bonus

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.

What is cDOT?

The cDOT token represents a Crowdloan contributor’s locked DOT position. Polkadex Crowdloan contributors will get 1 cDOT for every 1 DOT they contribute through Parallel Finance. After the parachain goes live, contributors will be able to claim cDOT and start using it in different DeFi applications, including using it as collateral for loans. This also allows Polkadex Crowdloan contributors to keep their initial DOT contribution liquid at all times. Once the parachain lease comes to an end — 96 weeks after the parachain goes live — cDOT holders can redeem cDOT for DOT at a 1:1 ratio.

Full rewards breakdown and participation guide

For more details on how much PDEX you can get and how to participate in the Polkadex Crowdloan, check out the guide below:

About Parallel Finance

Parallel Finance is a Decentralized Money Market Protocol that offers lending, staking, and borrowing, built on the Polkadot ecosystem. Parallel Finance was the winner of the 4th parachain auction and will be a parachain on Polkadot soon.

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