Coinversation Will Participate in Batch 2 Polkadot Parachain Auction

Why join auction

Coinversation is committed to building an open financial platform on Polkadot to provide a good Defi 2.0 experience for Polkadot users, including DEX, synthetic assets, and stable currency asset interest-bearing protocol. As a parachain on the Polkadot network, Coinversation will also benefit from the interoperability between the Polkadot relay chain and other Polkadot parachains. Users in the Polkadot ecosystem can use Coinversation to perform various operations, such as cross-chain asset interest generation and asset synthesis.

Coinversation has announced its participation in the batch 2 of slot auctions. The Para ID is 2027. We strive to get the second batch of Polkadot slots. If all goes well, the Parachain will be launched in the first quarter of 2022, and the Coinversation parachain will be opened simultaneously and construction of chain ecology.

All You Need to Know

Key Takeaways of Coinversation Crowdloan Reward Scheme

Start date: 23 December

Slot lease (parachain duration): 96 weeks

Target location: #6 — #11

Crowdfunding Campaign Deadline: March 11, 2022

Minimum contribution: 5 DOT

Auction Reward: 22,500,000 $CTO (22.5% of total)

Hardcap: 6,000,000 $DOT

Minimum received per $DOT: 3.75 $CTO

Release rule: initial release 25%, remaining 75% will be released linearly according to block within 2 years. Once the Coinversation parachain runs on the Polkadot relay chain, distribution will begin and end when the parachain slot expires (after 96 weeks).

Additional Bonus(Up to 2.25% of total supply)

1. Coinversation Official Auction Event: Bonus Pool + Lottery Pool (2% of total supply)

We will provide 2% of the $CTO reward to users who complete voting through our official auction event page. The reward will be divided into two parts, namely the bonus pool and the lottery pool. The reward will be incrementally increased. When the auction participants reach 2,000 people, the bonus pool will be unlocked 7 %(0.14% of total supply), and the lottery pool will be unlocked 3 %(0.06% of total supply) of the rewards from 2% reward. Once the number of auctioneers reaches 18,000 people, whole reward pool will be unlocked. (Note: The number of auctions is calculated according to the whole network)

  • Bonus pool

Users who complete the voting via our crowdloan page will be able to share the bonus pool according to the contribution of the vote.

  • Lottery Pool

Lottery Pool will have 2 winning mechanisms, with an average of 7 days as a period

  1. After Coinversation successfully wins the auction, the last person who votes through our official crowdloan page before the end of the Polkadot Candle Auction will be able to share the prizes in the lottery pool.
  2. There are around 15 minutes of countdown time (150 block) on our crowdloan page. Before the end of the countdown no other address to vote through our page, then the last user to vote will win be able to share the lottery pool.

* There is no upper limit for the number of qualifications in a second way. One user with several qualifications is available. After Coinversation successfully wins the auction, all the qualified winners will share the lottery pool prize by the qualifications.

2. Other third-parties voting rewards

Total Tokens 0.25% Bonus

We will additionally provide an additional 0.25% of $CTO to users who vote through third parties. This part of users can share the reward pool proportionally.

PNS (Polkadot Name System)

  • 1,000 .dot domain from PNS will be free to claim for the first 1000 contributors who contribute ≥10 DOT to the Coinversation Crowdloan and claim on the PNS. The claiming will start on December 22th;
  • The 1,001st partcipant and after are eligible to buy a domain with a discounted price, for only $5/year.

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Coinversation: Decentralized Synthetic Asset Issuance Platform on Polkadot

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Coinversation: Decentralized Synthetic Asset Issuance Platform on Polkadot

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