Litmus Crowdloan Reward Schema
Litmus Crowdloan is live! Our team is excited to announce the below reward schema:
- Token Reward Ratio: 30 LIT : 1 KSM (Hard cap: 1.5% of total supply)
- Referral Bonus: 10% extra bonus based on referee’s basic rewards. Referrer gets 5%, referee gets 5%
- Slot leasing period (Parachain duration): 48 weeks
- Target slot: slot 23–25
- Crowdloan Hardcap: 50,000 KSM
- Crowdloan campaign deadline: 15 Feb 2022
- Minimum contribution: 0.1 KSM
- Reward distribution: LIT rewards will be distributed linearly in each block. The distribution starts once the Litmus parachain runs on the Kusama relay chain and balance transfer is enabled. Distribution ends when the parachain slot expires (after 48 weeks).
Users can contribute to the Litmus Crowdloan through the below platforms:
- Litmus webapp: https://kusama-crowdloan.litentry.com
- Bifrost: https://bifrost.app/vcrowdloan?tab=ksm
- BNC Liquidity Farming: all Litmus contributors can participate in the liquidity farming event on Bifrost, sharing a total of 5,500 BNC. The event is limited to Litmus contributors.
- vsKSM and vsBond: once contributed, your KSM will be converted into 1 vsKSM and 1 vsBond that are tradable in the Bifrost SALP and redeemable back to KSM when the lock period ends.
4. Fearless Wallet: https://fearlesswallet.io/
How can I contribute?
How do I claim my LIT rewards?
LIT rewards distribution will start once Litmus becomes a Kusama parachain and balance transfer is enabled. Rewards will be sent linearly in each block. We’ll provide a detailed guide on how to claim your LIT rewards once we win the auction.
What is the difference between Litmus and Litentry?
The Litmus Network will be a canary network that connects to the Kusama ecosystem, while the Litentry Mainnet will connect to Polkadot. In short, the Litmus Network is a companion network to the Litentry MainNet. It is a lighter network with simple token economy, less fees, and enables faster and easier MVP launch. In the future, the two networks will co-exist and cooperate with projects in the corresponding ecosystem.
Since LIT will be used in the Litmus parachain, how will the token be bridged?
After Litentry launches a parachain on the Kusama network, the Litmus parachain will have LIT natively, alongside the rest in the Ethereum blockchain, which means partial LIT token migration will be executed. Litentry will launch a KSM — ETH token bridge (between ERC-20 LIT and Litmus parachain LIT). ERC-20 LIT holders can decide whether to migrate tokens to Litmus parachain or not. The migration ratios shall be ERC-20 LIT: Litmus LIT = 1:1.
Got any questions for us? Drop in the comment box below!
We’ll be hosting a Community Call on February (next Wednesday) at 12 PM UTC, and address all your questions.
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.