Polkadex has successfully secured a Polkadot Parachain slot, winning the Crowdloan Auction #16 with para ID 2040. The leasing period for the slot is estimated to be from June 4, 2022, to April 9, 2024. Polkadex has raised a total of 973,324 DOTs, almost reaching the Crowdloan cap of 1M DOTs. To reward the contributors who helped Polkadex secure the Parachain slot, a reward pool of 2M PDEX has been created.

The announced reward structure entails 2+ PDEX for every DOT contributed, with the rewards being vested based on the following schedule: 25% to be immediately vested, and the remaining portion to be linearly vested over the duration of the slot once the rewards pallet is ready.

With the recent runtime upgrade of the Polkadex network on June 21, 2023, the Crowdloan rewards pallet has been deployed to the runtime and is now ready for activation. To initiate this process, the 2M PDEX allocated for the Crowdloan rewards must be transferred from the Treasury account on-chain to the rewards pallet account, and a rewards cycle must be created.

Members of the General Council will commence a proposal to activate the Crowdloan rewards, enabling token holders to review and vote on the proposal. To expedite the process, the Technical Committee members of the network will fast-track the proposal, thereby reducing the voting time and enactment period to promptly begin remitting the rewards.

Please review and provide your valuable feedback on this proposal before it is put up for a vote in the Polkadex governance.

Here are some links for the purpose of transparency:
1. Source code of the Crowdloan Rewards pallet [https://github.com/Polkadex-Substrate/Polkadex/tree/mainnet-release/pallets/rewards](url)
2. Polkassembly disclosure outlining the contributors list [https://polkadex.polkassembly.io/post/2363](url)
3. Github link for Contributors Data on Subscan [https://github.com/Polkadex-Substrate/Docs/blob/master/Subscan%20Data%20-%20Polkadex%20Crowdloan%20-%20crowdloan%202040.csv](url)
4. Github link for Contributors’ Data through Equilibrium [https://github.com/Polkadex-Substrate/Docs/blob/master/Polkadex%20__%20Equilibrium%20-%20Sheet1.csv](url)
5.  Github link for Contributors’ Data through Bifrost [https://github.com/Polkadex-Substrate/Docs/blob/master/Polkadex%20__%20Bifrost%20-%20Sheet1.csv](url)
6.  Github link for Contributors’ Data through Parallel Finance [https://github.com/Polkadex-Substrate/Docs/blob/master/Polkadex%20__%20Parallel%20Finance%20-%20Polkadex%20__%20Parallel%20Finance.csv](url)
7. Medium Article describing the testing of the Reward Claiming UI [https://polkadex.medium.com/orderbook-v2-thea-and-crowdloan-rewards-are-now-live-on-kaizen-the-polkadex-test-net-7ca5c88855ad](url)
8. Terms and conditions of the Crowdloan Program contributors accepted to on our website and partner platforms [https://github.com/Polkadex-Substrate/Docs/blob/master/Polkadex_Parachain_CrowdLoans.pdf](url)

Activation of Crowdloan Rewards for Polkadex Parachain Slot

Democracy

- Polkadex has secured a Polkadot Parachain slot.
- They raised almost 1 million DOTs to secure the slot.
- Contributors will be rewarded with 2+ PDEX for every DOT contributed.
- The rewards will be vested over the duration of the slot.
- The Technical Committee will fast-track the proposal to activate the rewards.

Activation of Crowdloan Rewards for Polkadex Parachain Slot

No Active Proposals