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Polkadex Launches Own Crowdloan for March Parachain Auctions -Breaking

by Mike Robinson

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Polkadex Launches March Parachain Auctions’ Own Crowdloan
  • Polkadex launches a parachain bid for March.
  • Crowdloan makes it possible to borrow DOT for the purpose of winning slots in an auction.
  • Additional rewards will be offered to participants.

Polkadex Inc. has announced its bid for parachains, with the aim of joining the second round in March.

Polkadex has also created its Crowdloan. This allows users to borrow from the community and then win a slot at the auctions. Polkadex distributes 10% (equal to two million tokens) of the PDEX total supply to encourage contributions.

Additional bonuses are offered to employees by the company, including:

  • An early bird reward equal to 15% of your contributed amount
  • Referrals earn you a 10% commission
  • A set of NFTs that are exclusive to the 1,000 top contributors.

25% of PDEX have been already obtained through Crowdloan. The rest will then be distributed according to a linear schedule over 96 weeks / 22 months.

Polkadex has many uses for PDEX token. It’s used primarily as the network fee to exchange tokens. The second benefit is that PDEX holders are able to exercise governance over the parachain and have access to Polkadex-IDOs, free Polkapool swaps and many other initiatives.

Both the PDEX token and mainnet are live and can be traded. This gives you an advantage over parachains that require a launch period. This is a significant advantage because PDEX Crowdloan members will have access to their PDEX rewards immediately after they receive them.

Crowdloan offers several choices for contributors.

To make an On-chain contribution, first use the wallet.js You can use this dashboard to deposit funds into Crowdloan.

Alternately, Polkadex has joined forces with Equilibrium, Bifrost, and Parallel Finance to provide Crowdloans. Users can access their locked DOTs via a staking derivative. At the same time, they will earn additional rewards paid out in the respective platform’s tokens.

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