Polkadex Renews Partnership with Parallel Finance for an Improved Polkadex Crowdloan

At least 2 PDEX per DOT loaned plus 4 PARA and 1 cDOT per DOT for contributors via Parallel Finance

Rewards breakdown

Every Polkadexer who contributes to the Polkadex Crowdloan through Parallel Finance is set to receive the following rewards from Polkadex:

  • Base reward of at least 2 PDEX per DOT.
  • An exclusive utility-based NFT for each of the top 1,000 contributors which will grant holders a 20%–50% discount on Polkadex Orderbook trading fees.*
  1. 4 PARA per DOT
  2. 1 cDOT per every DOT

What is cDOT?

The cDOT token basically 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 Polkadex parachain lease comes to an end — 96 weeks after the parachain goes live — cDOT holders will be able to redeem cDOT for DOT at a 1:1 ratio.

Full rewards breakdown and participation guide

For more rewards details and a comprehensive guide on how to participate in the Polkadex Crowdloan, check out the article 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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