Given our development is ahead of schedule, we believe that we are now in a position to bid for a Kusama parachain. We also believe that we will be in a position to bid for a Polkadot parachain in the first round of the upcoming Polkadot Parachain auctions.
Picasso Crowdloan Details
We are launching a crowdloan to obtain the KSM needed for receiving a Kusama parachain at auction, which will allow us to deploy our Picasso parachain ecosystem.
On the day of the sixth parachain auction (the 7th parachain slot), slated for September 1st, we will be releasing a parachain lease offering to obtain the KSM needed for securing a Kusama parachain, to deploy the Picasso Network.
Crowdloan participation will be capped at 100,000 KSM, an amount which we believe will amply position us for Kusama parachain procurement. The crowdloan period will total 48 weeks, broken down into 8 lease periods of 6 weeks each.
Crowdloan stakers will earn 20% of Picasso token supply: 2,0000,000,000 PICA.
In the near term, the crowdloan is the only opportunity we foresee for users to obtain the Picasso Network token.
Picasso Crowdloan Bonuses
We have implemented a referral program where users can generate referral codes, and will obtain a 20% bonus on their Picasso Network tokens if they bring in other users contributing a total of 100 KSM or more.
Early Participation Bonuses
Users who participate early on in the Picasso crowdloan will receive a boost on their earnings: participating in the first 12 hours will provide users with a 5% bonus, and participating in the first three days provides a 10% bonus.