Litentry joining Polkadot Auction Batch #2

Litentry is launching our second crowdloan for the Polkadot auction batch 2! This new round of crowdloan is expected to open to contribution tomorrow, December 18th.

Spoiler: we have brought in a Referral Program with extra 5% bonus for you!

Here’s an overview of our Crowdloan #2 reward schema:

Basic Reward

  • Crowdloan start date: 18 December 2021
  • Slot leasing period (Parachain duration): 96 weeks
  • Target slot: #6 — #11
  • Crowdloan Hardcap: 12,000,000 DOT
  • Token Reward Pool: 20,000,000+ LIT (20+% of total supply)
  • Crowdloan campaign deadline: 10 March 2022
  • Minimum contribution: 5 DOT
  • A participant will be rewarded with a minimum of 2.5 LIT per DOT. The final reward will be calculated as a % of each participant’s contribution to the crowdloan pool, which equals (your DOT Contribution/Total DOT Contributions) * 20 Million LIT. This time we’ve raised our hardcap to 12M DOT from 8M to ensure a sufficient fundraise, therefore we will bring in extra LITs to ensure all participants could get at least 2.5 LIT/DOT if total-raised exceeds 8M.
  • Reward distribution: LIT rewards will be distributed linearly in each block. The distribution will start once the Litentry parachain runs on Polkadot relay chain and will end when the parachain slot expires (after 96 weeks).

Up to 25% Extra Bonus

Everyone is welcome to refer friends (live on Dec 18th) to contribute to the Litentry Crowdloan. Refer a friend and share a 5% referral bonus (Referrer gets 2.5%, referee gets 2.5%.)

Referral bonus equals 5% of the amount of basic reward the referee receives: Referral bonus = Basic Reward * 5%. Once the referee contributes to the Litentry Crowdloan, both referrer and referee will be recorded for bonus distribution.

Extra +10% bonus if contribute before December 30, 2021.

Extra +10% bonus for contributors who complete special identity tasks, details TBA.

Failure compensation

Previous participants in Polkadot auction batch #1 will receive compensation if re-enter Litentry Crowdloan in Polkadot auction batch #2. The compensation ratio is LIT : DOT= 0.12 : 1.

  • Participants contribute to Litentry Crowdloan #2 through Parallel could receive an extra 20% PARA compensation if they were previous batch participants. That said, for each DOT staked during Batch 1, you will receive 0.12 LIT and 0.8 PARA as compensation.
  • There’s no compensation for those who participated through Binance in batch #1, because 1) we could not get the contributor data from Binance; 2) users had already shared a total of 500K LIT bonus when participating as early rewards. With that in mind, we gratefully thank all Binance participants who supported us in Batch #1, and thank you for your understanding.

Similarly, if Litentry doesn’t win a slot in batch 2 auctions, Litentry will compensate the previous batch contributors in the new crowdloan campaign with extra LIT until it wins a slot in the auctions. The compensation will be distributed on Polkadot until Litentry wins a parachain slot.

Partner Bonus

  • 1,000 .dot domain from PNS will be free to claim for the first 1000 contributors who contribute ≥10 DOT to the Litentry Crowdloan #2. The claiming will start on December 20th;
  • The 1,001st partcipant and after are eligible to buy a domain with a discounted price, for only $5/year.
  • 10 Chelobrick NFTs will be airdropped to the first 10 participants who contribute ≥50 DOT to the Litentry Crowdloan.
  • 50 MiniMich NFTs will be airdropped to the first 50 participants who contribute ≥100 DOT to the Litentry Crowdloan.

Partner Channels

Alongside our Crowdloan Webapp and Polkadot.js, you could participate through below channels for liquidity and extra bonus.

  1. Contribute through Parallel, for each DOT contributed to Litentry, you get extra 4 PARA token and 1 liquidity cDOT issued by Parallel.
  2. Parallel provides 25% PARA compensation. Each DOT contributed to Litentry Crowdloan gets 1 PARA + 0.12 LIT as compensation if re-enters in batch 2.
  3. Parallel provides 5% PARA referral bonus to both inviter and invitee. By contributing to Parallel you can also earn 2.5% LIT referral bonus by default, referred by Parallel.
  4. Shared rewards:
  • 20+M LIT Basic Rewards
  • 10% Early Bird Bonus
  • 10% DID Bonus
  • 5% Referral Bonus
  1. Contribute through Bifrost, for each DOT contributed to Litentry, you get extra 0.02 BNC and 1 liquidity vsDOT issued by Bifrost and pricing at the market price of DOT.
  2. Bifrost provides 0.02 BNC / DOT referral bonus to both inviter and invitee. By contributing to Bifrost you can also enjoy the 5% LIT referral bonus if you participate in the Litentry referral program.
  3. Shared rewards:
  • 20+M LIT Basic Rewards
  • 10% Early Bird Bonus
  • 10% DID Bonus
  • 5% Referral Bonus

Crowdloan in a nutshell:

Last updated on Jan 4, 2022

Please note that Litentry Foundation reserves the right the change the rules of this event.

Community Call

Got questions? Join our community call on December 20th (Monday) at 12 PM UTC on Binance Live.

About Litentry

Litentry is a Decentralized Identity Aggregator that enables linking user identities across multiple networks. Featuring a DID indexing protocol and a Substrate-built distributed DID validation blockchain, Litentry provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time DID data of an identity owner across different blockchains.

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