Explaining Litentry Crowdloan and Polkadot Parachain Auctions

What Are Parachain Slot Auctions

What is Litentry Crowdloan

What’s the benefit of contributing to Litentry Crowdloan

How is Litentry contributing to Polkadot Network as a Parachain?

  1. With asset holding status & borrowing history, Litentry can calculate an individual’s credit rating to facilitate analyzed DeFi services;
  2. With on-chain governance history, Litentry can solve big whale issues and empower those with good on-chain behavior and special contribution;
  3. By bringing together your social media account like Twitter with Ethereum addresses, Litentry bridge the gap between the two distinct virtual worlds and addresses major concerns in NFT industry around usability and display channels;
  4. With all the on-chain activities data we aggregate and attach to addresses, A user could generate proof in a decentralized way and submit it to other on-chain businesses like IDO/airdrop whitelisting.

Make sure you get ready!

  1. Join our waitlist. Don’t miss out on any upcoming news & information regarding Litentry’s Crowdloan. Sign up to our waitlist and receive a 2% extra bonus in LIT.
  2. Make sure you have DOT. DOT is the native token of Polkadot network and could be obtained via exchanges like Binance, Coinbase & Uniswap. And have it ready in your wallet;
  3. Make sure you “unlock” or “unbond” your DOT. Unlocking means your DOT is not currently used for activities such as staking, vesting, or governance. It will take 30 days to unlock your DOT, so if you want to participate in a Crowdloan, prepare to start the unlocking process approximately a few weeks in advance;
  4. Store your DOT in a compatible wallet with a Polkadot account and corresponding DOT address. We would recommend you to use Polkadot.js browser extension which is safe & user-friendly and make sure you store your private key safely.

About Litentry

Stay in touch with us through

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store