Navigating the Polkadot Crowdloans
Trying to navigate blockchain ecosystems can be daunting and stressful. We understand this and for that reason we have compiled these pages for you to reference as you journey through the Parallel ecosystem.
Common Terms
In order to navigate the crowdloan ecosystem there is a few common terms that you should get used to. Let's go through them and make sure you are familiar.
TGE - A Token Generation Event (TGE) is a business and technical act of limited duration that involves the technical generation of the token in a blockchain-based network, and its launch to the market, normally in the form of a public sale, private sale, or initial coin offering (ICO).
Linear Vesting - Linear vesting is a form of vesting schedule, and it defines when will you be the owner of all the tokens promised to you. In Linear Vesting, the same amount of coins are vested on a block by block basis as the networks moves forward into the 96 week lease cycle.
Vesting Schedule - As projects launch their own parachains they will also be choosing a vesting schedule for their token. One project might choose 20% transferable right after TGE. Remaining 80% subject to 96-weeks linear vesting (parachain lease period). Another project might choose 30% transferable right after TGE. Remaining 70% subject to 96-weeks linear vesting (parachain lease period).
Derivatives - When users loan DOT to crowdloans outside of the Parallel platform those DOT are locked until the end of the 96 week lease of the parachain slot. In an effort to keep parallel users liquid during this period parallel has developed two derivatives cDOT1 and cDOT2. These will be distrubuted to parallel users that you can redeem 1:1 cDOT1:DOT or cDOT2:DOT. These cDOT1 and cDOT2 will be useable for advanced liquidity purposes as well as liquidity mining through our pMaker and AMM protocols in the coming months and years.
It is important that you identify and remember the round of crowdloan that you loaned in and the project you loaned to.
Keeping track of this info can help you stay in control of your crowdloan experience and not get left wondering wen vest?
Round 1 Projects
All Round 1 Projects have a lease end date and it will be October 20th, 2023
Round 2 Projects
All Round 2 Projects have a lease end date and it will be January 12th, 2024
Scammers
Please keep in mind, no admin will DM you first, you should DM admin, and be cautious if someone DM you offering help, take screenshots as evidence and report the scammers. Let's work together to build a great community here!
Below is an example of the type of message you might get from a scammer. Please stay sharp!
