The Composable Crowdloan
Our crowdloan on Polkadot was critical in allowing us to successfully obtain the 8th Polkadot parachain slot during the 7th round of auctions of these parachains. Over 9 thousand users participated in our crowdloan, depositing a total of 6,075,485 DOT (a value of over $163 million at the time).
This crowdloan was available on our app. Users were able to stake stablecoins or DOT, earn an APY on their stakes, and support the ever-growing Composable ecosystem.
See a breakdown of our early bird incentives for the initial 12% allocated to crowdloan stakers:
- 5% bonus to those who staked in the first 24 hours
- 5% bonus to those who previously contributed KSM and stablecoins to the Picasso crowdloan stakers.
- 10% bonus to stakers in the first three days of opening the crowdloan
- 20% bonus for those who refer a total of 1000 DOT using our referral codes
Additionally, we announced an increase in the rewards for Composable crowdloan stakers. These added rewards come on top of the above early bird incentives. We ended up unlocking additional rewards and allocating 16% of LAYR's token supply for the crowdloan.