krest Crowdloan 2023

To secure a Kusama parachain slot for the krest network, krest will open a crowdloan and compete in an auction against other projects. All information related to the crowdloan can be found below.

Key Information: 

• KREST Parachain ID: 2241
• Targeted Auction: #72 - #75
• Ending Block (Estimated): #17,273,588

How to Participate:

You can currently use the following methods to contribute:

1. Polkadot.js — This method requires an advanced understanding of polkadot.js
2. Bifrost — Receive liquid derivatives from your staked KSM in a user friendly manner

If you do not have a KSM wallet yet, you can follow this link to learn how to set one up in polkadot.js. Contributors to our successful crowdloan will receive KREST tokens over the course of 48 weeks according to our vesting schedule. The contributed KSM will be unlocked trustlessly and automatically returned to the contribuafter 48 weeks and returned to contributors.

Crowdloan Details: 

• Lease period: 48 weeks
• KSM Lock Up Period: 48 weeks 
• Vesting: 12 month linear vesting, starting at TGE (Token Generation Event) 
• Eligibility: Users must agree to Terms & Conditions
• Token Received: KREST 
• 1 KSM = 800 KREST
• Redeeming KSM: Your KSM will be unlocked and returned to you without any input required

Benefits for contributors include:

• 10% bonus when contributing 500+ KSM 
• Get all your KSM contributions back when the parachain 48 week lease period ends

The krest Token:

• Ticker: KREST
• Relay Chain: Kusama
• Supply Structure: Inflationary. 5% of KREST tokens are expected to be minted each year. In addition, burning mechanisms set to a balancing ratio will allow the chain to maintain a stable token supply over time.
• Total Supply: 400,000,000
• Supply at Genesis: 400,000,000

krest is a community-first project which is why the Peaq Foundation decided to provide the majority of the krest tokens for community initiatives and the ecosystem itself. Please find the Token economics below: 

• 20% Parachain Auction: tokens will be kept in reserve for securing current and future parachain auction slots 
• 47.50% Ecosystem & Community: 
  • 25% Community Initiatives 
  • 22.5% Adoption Programs 
• 10% Treasury
• 5% Early Backers: All early backers that are backing the peaq foundation, its fundraisings and the developments 
• 5% Team: included the team, advisors and future team members
• 12.50% Funding Activities: tokens will be kept for potential funding activities to further finance the project, in case these tokens do not need be used for these purposes they will be allocated to the treasury and the ecosystem/community

Further Questions? 

For any kind of question please stop by at our Discord any time.