KILT secured a Kusama parachain slot and launched mainnet.
KILT’s crowdloan hit our max cap of 220,000 KSM and further voting for KILT is not possible.
We were thrilled to see the excitement from our community, with more than 12k contributions voting for KILT in the crowdloan. This crowdloan was the last chance to reserve KILT Coins before decentralisation.
It is very important to do your own research (DYOR) before you participate in any crowdloan. Beware of scams. Visit official crowdloan channels only.
Please note: this was not a coin sale, but a crowdloan – a mechanism provided by Kusama for voting which project secures a parachain slot for a certain fixed term. In a crowdloan the community votes with KSM. Their KSM are then locked in the crowdloan module for the time that the parachain is active (typically 48 weeks from the day the slot is secured). Afterwards this KSM is automatically returned to the voters.
KSM : KILT
The ratio set aside for governance to distribute after decentralisation is 1 KSM : 25 KILT.
This means there are 4.5 million KILT Coins in the crowdloan reserve, which is made available to governance for distribution to the community as a thank you for voting. The full amount is meant for distribution to the participants upon winning the slot.
- The KSM:KILT ratio is determined by the total number of KSM used to vote for KILT in the auction (220,000).
- We capped our crowdloan in a way which ensured a minimum ratio of 25 KILT Coins per KSM, even when the crowdloan was fully booked.
- After the cap was reached, no more votes were accepted.
- BOTLabs, the entity behind KILT Protocol, will also participate in the vote. But it will be excluded from the thank you, so that the full crowdloan reserve is meant for the community only.
KILT secured an 8-period slot; this lease will run for 48 weeks total. Participating in a crowdloan means the KSM you lock is unavailable to you during the unlocking, bidding, and parachain lease period. Transfer or staking KSM is not possible during this time.