Christmas comes early for crowdloan contributors: 30%+ increase in rewards
Disclaimer: Information as of Dec 22, 2021. For the most recent updates, dive into our comprehensive documentation here.
With the next round of Polkadot parachain auctions kicking off the day before Christmas, Composable Finance is giving an early present to its crowdloan contributors. 🎅
As a sign of our commitment to those who continue to support our vision, we have increased rewards by more than 30% for the Composable crowdloan stakers!
These added rewards come on top of the incentives we have shared before including:
- 2.5% bonus for contributing through our crowdloan partner — Parallel Finance’s — referral link
- 5% bonus to those who previously contributed KSM and stablecoins to the Picasso Crowdloan
- 20% bonus for those who refer a total of 1000 DOT using our referral codes
The timing for this 30% increase in rewards aligns perfectly with the Composable crowdloan having recently reached the milestone of over 3 million DOT staked.
If we pass the 4 million DOT staked mark, we will add an additional 2% of total LAYR supply to crowdloan contributors.
It doesn’t stop there, once we pass the 5 million DOT staked mark, we will add another 2% of total LAYR supply on top of that!
Initially, 12% of the 100,000,000 total LAYR token supply was to be distributed to crowdloan contributors. With the two extra 2% increases unlocked as we pass million DOT milestones, it means we will be increasing our total LAYR supply distributed to crowdloan supporters to 16% — which makes up our 33.33% increase in rewards.
For more information on LAYR and how the Composable Parachain will help usher in the interoperable future of DeFi, read our article here.
How to contribute to Composable’s Crowdloan
As is traditional for parachain crowdloans, Composable Finance accepts DOT contributions from anyone who’s willing to support our project. DOT contributions can be made by heading to our website here.
We also have a unique feature to our crowdloan; we accept ERC-20 stablecoins. This acceptance of more widely used cryptocurrencies aligns with our mission of making DeFi more accessible. In a recent post, we provided a full how-to guide on how anyone can contribute stablecoins to support our parachain bid.
For those looking to take advantage of all the bonuses we provide, we published another guide on how people can contribute through Parallel Finance’s referral link.
Securing a Polkadot parachain at the upcoming auction is of utmost importance to our vision of creating a blockchain-agnostic future for DeFi. As you all support us in our efforts to make our vision a reality, we want to reciprocate and show appreciation by giving more to our community. Enjoy a holiday bonus in the form of LAYR this year.
For more information about Composable and how it is architecting the unified DeFi landscape of the future, check out our socials:
