Khala Crowdloan

Crowdloan

Kusama Crowdloan allows a team to crowdsource KSM (for Kusama slots) to use to bootstrap its parachain auction. So Сrowdloan allows people to contribute by locking up their own KSM until the end of the lease (the leasing period in Kusama is 48 weeks). Teams can reward their contributors and can structure their crowdloan in various ways, hosting it either natively on Kusama or on a 3rd-party platform.

Khala successfully won the auction for the #4 parachain slot on Kusama (ID: 2004) in July 2021 and renewed the slot for a 326-day lease term after the bidding for the #32 parachain (ID: 2111) in May 2022. The two parachain IDs have now been merged into one ID: 2004.

Reward Distribution

Khala participated in Kusama slot auction in 2021 and announced the crowdloan strategy for this campaign. The token rewards (including basic rewards and referral rewards) and NFT rewards incentivized 2,759 addresses successfully, leading to the success of Khala’s Kusama slot auctions. We also worked with Kraken, Nutbox, OKX, MEXC, KuCoin, and Gate.io for the crowdloan.

The token reward distribution of Khala crowdloan in 2021 has already been completed. (34% of PHA in the reward pool was vested to contributors’ addresses immediately. The remaining 66% was vested monthly over 11 months.)

A total of 1,952 addresses (70.82% of the total) that contributed between 1 and 50 KSM received the Color Honor Gem NFT. Another 184 addresses (6.74% of the total) that contributed more than 50 KSM received the Sparkling Honor Gem NFT.

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