Pichiu KSM Crowdloan Distribution Details

Thanks to the unyielding support of the Kylin community for their help in the Kusama crowdloan, Kylin’s canary Network, Pichiu, is now live on Kusama. We can never thank Kylin’s supporters enough for their consistent support.

How could we? Even at the time of the post being written, the community is piling up hundred of thousand of DOTs in support of our ongoing crowdloan to win a parachain slot. A whopping 127k DOT has been crowdloaned to date, and bidding doesn’t start till a few days.

With excitement and gratitude to our supporters, we provide information on the crowdloan reward distribution tandem to crowdloaned KSM to PCHU. With reference to a previous post, we provide the following information.

The distribution of PCHU token will be distributed to the crowdloaners in a pretty straightforward fashion. The relevant substrate wallet addresses are linked by the very process of loaning their KSM.

The rewards for crowdloaning KSM for the Pichiu Network are below

1 KSM = 1488.69 PCHU

30% TGE will be 446.6 PCHU per KSM

70% Released per block means 0.00002067 PCHU per KSM, approximately

Block time on Kusama canary network is approximately every 6 seconds

**The above block time information is subject to change.

KSM Crowdloan Distribution will be executed on the 17th of August, 2022.

Here are the final rewards distribution details. The key info:

1. Total Reward(PCHU): 16,743,798.54

2. Pichiu Distribution Day: 2022–08–17

3. Crowdloan End Day: 2022–04–11

4. Target Lock Weeks: 48 (From crowdloan End Day)

5. The Remaining Lock Time(Weeks): 29.7

6. 1KSM：1488 PCHU

Update KYL Airdrop

The tech team is in the final stages of the testing phase. This is important as the flow of handshaking users’ Erc20 non-custodial wallets with substrate-native wallets needs to be thoroughly completed to the tech team’s satisfaction before tokens are transferred. There will be more updates on this shortly.

Kylin Network is a composable and configurable multi-level oracle infrastructure built as a Polkadot parachain, for the democratization and delivery of accurate data on time, at a reliably low cost.

Kylin offers a way for chain-agnostic APIs to serve data according to service level agreements (SLA) that the consumers of this data will be aware of. Data source compatibility beyond price feeds will bootstrap a free data market.

This will allow market demand to determine the direction of the innovation of a feed, its price, and supply. With dynamic NFTs & SFTs, Kylin is innovatively tokenizing data streams that have been democratically accepted on the Kylin Network.

Originally published at https://kylin.substack.com on August 16, 2022.