Karura Friends,
We’re days away from the Karura crowdloan event, which invites you to contribute KSM in support of Karura’s parachain auction bid. Supporters who contribute to the crowdloan will receive a distribution of Karura rewards at launc
Karura is the all-in-one DeFi hub of Kusama that makes it easy to swap, borrow, lend, earn, and more – all with micro gas fees. Join me in supporting Karura to win the first parachain slot auction on Kusama! Register here for the Karura crowdloan to get a 5% bonus: https://acala.network/karura/join-karura?ref=0x10300bf9df34696123a61bd58086f56c5f3b89073e1208b5b0f3149e4daa275d
Here’s how it works.
1. Prepare your KSM — Begin the Unbonding process
Only KSM holders can participate in the Crowdloan event, and the KSM must be unbonded and transferrable in a crowdloan-compatible wallet like Polkawallet or Polkadot.js.
For more information on setting up a compatible wallet, please review this guide. For info on unbonding KSM, refer to this guide for on Polkawallet and this guide on Polkadot.js.
2. Lock your KSM
Kusama will enable the Crowdloan module, a permissionless smart contract for our community to temporarily lock their KSM in support of Karura’s upcoming bid for a parachain slot. The module will receive KSM and lock these assets for a period of 48 weeks, after which participating users will automatically receive their full contribution back.
3. Receive KAR rewards
For their support, participants will receive Karura’s native token KAR.
For each 1 KSM locked, a participant will be rewarded with a minimum of 12 KAR. Though, the reward could be higher. It all depends on the amount of support Karura receives.
Once Karura launches, any community member who had locked their KSM during the Crowdloan campaign will receive their reward in KAR. Upon receipt, 30% of this KAR will be unlocked, liquid, and available to utilize within Karura’s DeFi ecosystem, while the remaining 70% will be vested and released gradually until the end of the 48-week lease period.
Join me in supporting @KaruraNetwork, the DeFi Hub of Kusama, in winning the first parachain slot auction on Kusama! Register here to get a 5% bonus & #ExpectKarura https://bit.ly/3eQjvZL
