Staking Your DOT for the Aventus Parachain Bid
August 25, 2022
As many of you may already know, Aventus will be participating in an auction to secure a slot in Polkadot’s Parachain ecosystem, which will take place from 28 August – 5 September.
You can find more information about what parachains are, why we are going for a parachain slot, and the benefits this will bring to the Aventus Network here.
In order to win the auction, we need to raise the largest amount of locked-in DOT (Polkadot’s native token) of all networks bidding in order to secure the slot – and that’s where you come in.
Those who would like to support our ambition to become a Parachain, see the value it will bring to the Aventus Network and the value that we will bring to the Parachain ecosystem, can stake their DOT for the duration of our slot lease period (96 weeks).
This DOT will be automatically released back to you at the end of the period. We never take ownership of your DOT. This process works directly between you as the contributor and the Polkadot Network.
And in exchange for staking your DOT, we will reward you with 3 AVT (our native token) per DOT staked, which will vest monthly over the course of our Parachain slot lease.
We have partnered with a number of platforms to allow you to stake your DOT for our Parachain bid – some of which offer additional rewards on top of our AVT rewards.
Our new partnership with Kraken means that you can now conveniently stake your DOT on this widely used exchange for our Parachain bid.
Parallel Finance is offering an additional 4 PARA / 1 DOT reward on top of the AVT rewards we are offering.
Parallel also allows contributors to free up their locked DOT by giving them back cDOT, the 1:1 derivative token representing the contributed DOT, which can then be used to either swap back for DOT on Parallel AMM or as collateral in Parallel Money Market for Liquidation-Free Loan.
You can read more on cDOT and Liquidation-Free Loan here.
We have secured a partnership with Equilibrium for our DOT staking, the first Polkadot-based interoperable DeFi money market that combines pooled lending, synthetic asset generation and decentralised trading.
Equilibrium is offering 10 EQ / 1 DOT and 1 xDOT / 1 DOT reward on top of the AVT rewards we are offering.
EQ, Equilibrium’s native token, can be used for:
|Governance token||Platform currency||Bailout liquidity||Staking opportunities|
|EQ holders have a say in system changes and EQ-weighted votings||Users pay transaction fees for operations on Equilibrium’s Substrate and product fees in EQ||Liquidity providers can earn yield by locking EQ in Equilibrim’s liquidity pools||EQ holders receive rewards on their tokens staked to Equilibrium’s governance|
And xDOT can be used for:
|Lock xDOT to take loan in stablecoins and other assets||Put xDOT into liquidity pools and start earning yield||Sell xDOT for stablecoins through Equilibrium|
You will also be able to stake your DOT for the Aventus Parachain bid directly via Polkadot.js, the Polkadot-native platform to stake your DOT. Our ParaID is 2056.