Polkadex Crowdloan is back on Polkadot parachain auctions with increased rewards

2022-4-7 18:34

After announcing the Thea interoperability layer, Polkadex has unveiled another round of Polkadex Crowdloan with increased PDEX rewards.

Polkadex supporters can once again loan their DOT tokens to help Polkadex earn a coveted parachain slot on Polkadot.

Polkadex failed to get a slot in batch two of Polkadot auctions; something that has forced Polkadex to reduce the auction cap to 1 million DOT coins while maintaining the 2 million PDEX coins, which is 10% of the total PDEX coin supply.

Release of the PDEX rewards

With the current ratio, Polkadex Crowdloan contributors shall be rewarded with 2 PDEX for every DOT coin they contribute.

This time the minimum rewards ration is 10 times higher than what was offered in the previous batch. Besides, the top 1000 contributors shall receive an exclusive utility-based NFT that shall give them access to discounts on trading fees on Polkadex.

25% of the PDEX rewards will be distributed in bulk, immediately the parachain is launched. Then the remaining 75% shall be released per block throughout the 96 weeks of the parachain lease period.

What is PDEX?

PDEX is the native utility token of Polkadex and it enables users to receive discounts on trading and transaction fees, participate in on-chain governance voting, and participate in PolkaDAO investment rounds.

PDEX holders can also become validators to help secure Polkadot Network while also earning staking rewards for staking the PDEX.

Additionally, PDEX holders can nominate other validators for a share of their rewards and participate in the Thea Protocol by staking PDEX to earn more rewards while enabling deposits and withdrawals.

Contributing to the Polkadex Crowdloan

Contributors can choose to contribute by directly lending DOT on-chain using the Polkadot apps interface, through KuCoin, AscendEX, MXC, and Gate.io, or through wallets such as Talisman, Nova, Fearless, and Subwallet.

Contributors can also choose to use Polkadex launch partners that include Parallel Finance, Bifrost, and Equilibrium.

The minimum contribution for those who want to contribute directly is 5 DOT while the minimum contribution for using Polkadex partners may vary.

The post Polkadex Crowdloan is back on Polkadot parachain auctions with increased rewards appeared first on Invezz.

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