Polkadot Wiki

Polkadot Wiki

  • Get Started
  • Learn
  • Build
  • Maintain
  • Kusama
  • Contribute
  • Languages iconEnglish
    • Русский
    • 中文
    • Help Translate

›Parachains

General

  • Getting Started
  • Claims
  • Redenomination of DOT
  • Grants
  • Thousand Validators Programme
  • Polkadot Ambassador Programme
  • Research Pages
  • Community
  • Contributing
  • Contributors
  • Glossary
  • Using ENS with DOT/KSM accounts
  • Ledger Application
  • How to Protect Yourself from Scams
  • Frequently Asked Questions (FAQs)

Learn

  • Polkadot Launch Phases
  • Basics

    • Architecture
    • Polkadot Accounts
    • Account Generation
    • Backing up and Restoring Accounts
    • DOT
    • Security of the network
    • Polkadot Consensus
    • Nominator
    • Validator
    • Collator
    • Governance
    • Identity
    • How to transfer Balances
    • Transaction Fees
    • Polkadot Host (PH)
    • Treasury
    • How to use W3F Registrar

    Parachains

    • Parachains
    • Parathreads
    • Bridges
    • Parachain Slots Auction
    • Parachain Crowdloans

    Advanced

    • Staking
    • Proxy Accounts
    • Availability and Validity
    • Randomness
    • Cross-chain Message Passing (XCMP)
    • SPREE
    • WebAssembly (Wasm)
    • Sequential Phragmén Method
    • Simple Payouts

    Cryptography

    • Cryptography Explainer
    • Polkadot Keys

    Polkadot Comparisons

    • Comparing Polkadot and Kusama
    • Ethereum 2.0
    • Cosmos
    • Dfinity
    • Other comparisons

Build

  • Builder's Portal
  • Development Guide

    • Polkadot Builders Starter's Guide
    • Parachain Development Kits (PDKs)
    • Parachain Implementer's Guide
    • Cumulus
    • Building Parachains on Rococo
    • Smart Contracts
    • Oracles
    • Polkadot Wallets

    Integration Guide

    • Integration Initiation
    • Polkadot Protocol
    • Node Management
    • Node Interaction
    • Transaction Construction

    Tools

    • Tool Index

    Resources

    • Hackathon

Maintain

  • Network Maintainers
  • Parameters
  • Nodes and Dapps

    • Set up a Full Node
    • Networks
    • Set up Secure WebSocket for Remote Connections
    • Resolving Errors

    Nominator Guides

    • How to Nominate on Polkadot
    • Unbonding and Rebonding

    Validator Guides

    • How to run a Validator on Polkadot
    • Validator Payout Overview
    • Using systemd for the Validator Node
    • Secure Validator
    • How to use Polkadot Secure Validator Setup
    • Set Up a Sentry Node
    • How to Upgrade Your Validator
    • Monitor your node
    • How to Chill

    Governance Guides

    • Participate in Democracy
    • Join the Council
    • Voting for Councillors
Edit

Parachain Crowdloans

Polkadot allows parachains to source DOT for their parachain bids in a decentralized crowdloan.

Anyone can create a new crowdloan campaign for a parachain slot. A campaign is configured as a range of slots (i.e. the duration the parachain will bid for), a cap, and a duration. The duration can last over several auctions, meaning that the team will not need to restart the campaign just because they do not secure a slot on their first attempt.

Each created campaign will have an index. Once a crowdloan campaign is open, anyone can participate by sending a special transaction that references the campaign's index. DOT used to participate must be transferable — that is, not locked for any reason, including staking, vesting, and governance — because they will be moved into a module-controlled account that was generated uniquely for this campaign.

Important: All crowdloan contributions are handled by the Crowdloan module’s logic where a campaign is identified by index, not by address. Never transfer DOT to an address in support of a campaign.

It is up to individual parachain teams to decide if and how they want to reward participants who forgo staking and choose to lock their DOT in support of the parachain’s campaign. As one can imagine, rewards will take many forms and may vary widely among projects.

During some point of the crowdloan campaign the owner will upload the parachain data. Ideally, the owner does this before soliciting contributions to the campaign so that the contributors can verify it. The data can only be uploaded once during the course of the campaign and it will be what is deployed as the parachain's runtime. Of course, once the parachain is running it can always change via runtime upgrades (as determined through its own local governance).

If a crowdloan campaign is successful, that parachain will be on-boarded in Polkadot. The collective DOT will be locked in that parachain's account for the entire duration that it is active (up to two years).

Participants will be able to reclaim their DOT in one of two ways:

  • If the campaign was successful, then the parachain will enter a retirement phase at the end of its lease. During this phase, participants can withdraw the DOT with which they participated.
  • If the campaign was not successful, then this retirement phase will begin at the campaign's configured end, and participants can likewise withdraw their DOT.

Note that withdrawing DOT requires a transaction for each participant. Anyone can make the transactions, so a parachain team could free every participant's DOT in a batch. Tokens that are not withdrawn within a certain amount of time will go to the Polkadot Treasury.

Several teams in the ecosystem are preparing dashboards to track auctions and crowdloan campaigns. Check back to this page for updates as these are released.

Last updated on 1/25/2021 by Dan Shields
← Parachain Slots AuctionStaking →
General
  • About
  • FAQ
  • Contact
  • Build
  • Grants and Bounties
  • Careers
Technology
  • Technology
  • Token
  • Telemetry
  • Substrate
  • Whitepaper
  • Lightpaper
Community
  • Community
  • Documentation
  • Brand Assets
  • Blog
  • Element Chat
  • Medium

Subscribe to the newsletter to hear about Polkadot updates and events.

Polkadot Network
  • © 2021 Web3 Foundation
  • Impressum
  • Disclaimer
  • Privacy
  • Cookie Settings
  • Testnet disclaimer
  • PDF version