This post was originally published on Darwinia
Crab Network has officially announced its participation in the auction.
We have structured a generous benefits package for our crowdloan contributors and sincerely hope you will consider loaning us your KSMs so that we can be successful in our bid for a parachain slot!
Crab’s Crowdloan Rewards
1 BTC + NFT +（200,000,000 CRAB + 8,000 CKTON）
Available to win whether Crab gains a parachain slot or not:
- 1 BTC
- Metaverse NFT blind box packages (including Metaverse game Evolution Land assets, and hidden collaborative NFTs with other star Metaverse projects)
Unlock when Crab wins a parachain slot:
- 200,000,000 CRAB
- 8,000 CKTON
Crab’s Participation Strategy
Crab’s Parachain Auction: Batch 5
Crab will bid for Batch 5 auctions starting on Jan 9, 2022.
How to Contribute to the Crab Crowdloan
- Crab’s PLO page (will display multi-dimensional data such as the number of contributions, proportions, rankings, number of rewards, etc. to optimize your crowdlending experience);
- Crowdloan module ;
- Third parties, such as exchanges.
Specific details will be announced if other methods of participation open up. So stay tuned for follow-up posts.
Incentive Mechanisms
1. Contribution Pioneers
Reward: 1 BTC proportionally distributed among the top 5 contributors based on their contribution amount.
Qualifications:
- Contribute more than 1,000 KSM before the ending period of the first slot, Batch 5.
- Ranking in the top 5 contributors.
- The addresses of third-party exchanges or PLO aggregators are not eligible.
Rewards Distribution Time: Will be released immediately when the Batch 5 auction: Start of the ending period of the 1st slot.
Highlights:
- BTC is the new digital gold;
- The BTC reward does not depend on Crab’s success in the slot auctions;
- Win a rock-solid reward within just one week, huge ROI;
- BTC will be distributed immediately without vesting terms.
Contribution Strategy:
After contributing to the Crab crowdloan, there is no need to wait for tokens to finish vesting or getting listed. Also, joining the crowdloan earlier with a large investment of KSM will help Crab Network attract more follow-up contributions which bring a higher chance of getting.
2. The Metaverse NFT Blind Boxes Airdrop
Rewards: Limited-edition Metaverse NFT blind boxes.
Qualification: Contribute ≥1 KSM during the entire Crab crowdloan.
Rewards Distribution Time: Will be released immediately after the Batch 5 auctions end.
Highlights:
- The future development potential of the Metaverse is limitless;
- The value-added space with the limited edition NFTs is very considerable;
- You will receive the NFT rewards even if Crab fails to secure a slot.
Contribution Strategy:
By just contributing 1 KSM, you will have a chance to win various NFTs for free and unlock the gate towards the future of the Metaverse.
About 200,000,000 CRAB + 8,000 CKTON
Rewards: 200,000,000 CRAB + 8,000 CKTON
Qualification:
- Contribute KSM to the Crab Network crowdloan, and reward them in proportion to their contribution.
- Crab success to win a slot.
How to get more rewards？
- Referral Program
- Early Bird Program
3. Referral Program
Basic Referral Reward: +5% for both the referrer and the referee.
Qualification: You and your friend contribute to Crab crowdloan via the same referral link that is generated at the Crab PLO page.
Highlights:
If your referred KSM contribution amount ranks in the top 10, you have an extra reward boost of up to 3%:
TOP 1: 5% → 8%
TOP 2–5: 5% → 7%
TOP 6–10: 5% → 6%
Contribution Strategy:
The more your friends contribute through your referral link, the more rewards you will receive, which also moves you up the referrals leaderboard and earns you an additional bonus.
4. Early Bird Program
Rewards: Up to 120% rewards boost.
Qualification: Contribute before the winning auction’s candle light-up.
Detailed Algorithm:
- Pioneer Stage (120% reward boost): from the start of the Crab crowdloan to the start of the ending period of the 1st slot.
- Regular Stage (100% reward):from the start of the 1st slot ending period to the winning auction’s candle light-up time. During this stage, contributors will receive a 100% of the reward.
- Final Stage (100% to 0 linear regression): from candle light-up time to the result-determine block within the winning auction. During this stage, rewards will reduce linearly to zero.
For example, if you participate in the crowdloan between “Crab Kusama Crowdloan Starts” — “The First Slot Ending Period Starts of Batch 5” and invest 1,000 KSM, the reward multiplier will be 120%. Assuming that Crab wins the slot auction with 50,000 KSM, you will obtain 1,000 KSM / 50,000 KSM * (200,000,000 CRAB and 8,000 CKTON) * 120% = 4,800,000 CRAB and 192 CKTON.
The above calculation is a rough estimation. The value will be precisely calculated according to the block height.
Highlights:
Early bird supporters can earn a bonus of up to 120% of the reward.
Contribution Strategy:
You can contribute as soon as the Crab crowdloan opens up. The earlier you participate, the higher the returns!
Tip: The rewards for the Referral Program and the Early Bird Program will start vesting linearly if Crab successfully wins the Kusama parachain slot.
Why building on Crab?
Crab is the canary network of Darwinia.
- Ease of multi-chain integration:
DVM(Darwinia Virtual Machine) is EVM(Ethereum Virtual Machine) compatible, which provides developers with the ability to rapidly port dapps from Ethereum and EVM-compatible chains to the Polkadot ecosystem. - Not just an EVM platform,Crab is also providing:
Substrate-to-Substrate bridge
Ethereum cross-chain bridge
Usecases:
DEX building on Crab can integrate cross-chain assets across Ethereum and Polkadot ecosystem.
For NFT applications,enable to discover cross-chain NFT interoperability with Substrate-based chains, such as RMRK on Kusama.
3. Oasis for the Polkadot Metaverse ecosystem;
4. Active community to fix your cold-start problem;
As a growing EVM compatible platform still at an early stage,community users are requesting diversified Defi,NFT,Gamefi applications.
Building on Crab help project efficiently expand user adoption of project’s application.
About Darwinia Network
Darwinia Network is a decentralized cross-chain bridge network building on Substrate, which is the “cross-chain bridge hub” of the Web 3.0 Metaverse. It provides a safe and general bridging solution, connects to Polkadot, Ethereum, TRON, and other heterogeneous chains by cross-chain transfer of assets and remote chain calls.
Darwinia Network has gained high reputation and recognition along the way to build the decentralized cross-chain bridge protocol. In 2020, Darwinia was written in Polkadot light-paper as one of the friends of Polkadot and Substrate. And Darwinia was selected to join Substrate Builder Program and Web3.0 Bootcamp, and for the outstanding work in Substrate Builder Program, Darwinia Network was officially awarded the Level 2 badge by Parity. The products and tools developed by Darwinia have been rewarded three W3F Grants.
Darwinia has been contributing to the compatibility and interoperability of the Metaverse.
The application areas of Darwinia Network include DeFi, cross-chain NFT trading, games, etc. Darwinia also develops the Metaverse game Evolution Land.
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By: DARWINIA
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