Litentry Crowdloan welcomes our new partner Parallel to provide contributors liquidity cDOT and PARA bonus

  • For each DOT contributed to Litentry through Parallel, users earn 4 PARA tokens.
  • Users will gain cDOT-A derivatives through the auction loan and are not held up by the 2-year DOT locked up period. These are liquid assets that can be traded on the AMM market or collateralized in the lending market, when the Parallel parachain is launched.
  • Early birds earn up to 10% extra LIT bonus: i)10% additional bonus when users contribute before crowdloan starts; ii) 5% additional bonus when users contribute within the first 7 days since crowdloan starts; iii) 2% additional bonus when Parallel users contribute after 7 day since crowdloan starts.

What is cDOT and how does it work?

Use cases of cDOT

  • Adding to the money market. By supplying cDOT to the Parallel money market, users are able to use it as collateral to borrow assets. Currently, Parallel only support borrowing DOT assets.
  • Trading cDOT in the AMM market. For users that need early access to liquidity, they are able to sell for DOT and are not subject to the lock up period.

When are PARA tokens distributed?

You can contribute to Litentry through Parallel now:

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