Polkadex has returned to the Polkadot parachain auctions with a new bid featuring increased PDEX rewards.
The innovative Substrate-based order-book exchange, which recently announced the Thea interoperability layer, encourages project supporters to loan their DOT to help them earn a coveted parachain slot.
Auction cap reduced to 1M DOT
After Polkadex fell short in the second batch of the auctions, it cut the auction cap to 1 million DOT while maintaining 10% of the total supply (2 million PDEX) dedicated to the Crowdloan.
Contributors to the Crowdloan can go home with at least 2 PDEX for each DOT token contributed at this ratio.
Rewards ratio is now 10 times higher
With this development, the minimum rewards ratio Polkadex is offering this time is over 10 times higher than in the previous batch.
In addition to this reward, the top 1,000 DOT contributors will get an exclusive utility based-NFT, providing them with access to trading fee discounts on the Polkadex Orderbook.
75% of the PDEX rewards will be vested per block (in a linear manner) over the parachain lease period of 96 weeks. The remaining 25% will be distributed in bulk after the parachain launch.
PDEX offers discounts on fees, high utility
Polkadex’ native utility token will play a crucial role in its ecosystem, giving users discounts on trading and transaction fees and enabling them to take part in on-chain governance and PolkaIDO investment rounds.
The PDEX token has a wide range of use cases. Holders can even become validators to earn rewards by staking PDEX and help secure the Polkadex Network.
Deepansh Singh, Chief Operating Officer and Co-Founder at Polkadex, commented:
We aim to become the leading order book exchange for Polkadot, supporting cross-chain liquidity from other parachain projects and beyond. Securing a parachain spot with the help of Polkadexers will allow Polkadex to do just that.
Ways to contribute to the Crowdloan
Supports of Polkadex can contribute to the Crowdloan in a large number of ways. These include through the Polkadex website, lending DOT directly on-chain using the Polkadot.js/apps interface.
It’s also possible to contribute via wallets like Talisman, Subwallet, Fearless and Nova and exchanges like KuCoin, Gate.io, AscendEX and MXC.