Litentry Crowdloan not too long ago introduced a partnership with Parallel. The collaboration will see Litentry Crowdloan providing PARA bonus and cDOT liquidity to its contributors.

The mixing will render a number of rewards to the contributors. Right here is an summary of the perks:

• Customers can earn 4 PARA tokens for each DOT deposited to Litentry by way of Parallel.
• They will additionally get cDOT-A derivatives by way of an public sale mortgage. Plus, the derivatives are restricted by the 2-year locked-up interval. They are going to be liquid property, which customers can collateralize within the lending sector or commerce within the AMM market after the launch of the Parallel parachain.
• Early buyers also can earn a ten% further LIT bonus. a) 10% of the bonus is obtainable to customers who contribute earlier than the crowdloan initiates; b) 5% of the bonus is offered when customers contribute within the first week of the crowdloan’s initiation; c) 2% further bonus is shared to Parallel customers once they contribute 7 days after the crowdloan’s initiation.

Each cDOT and PARA rewards maintain utmost market worth with a number of use-cases. cDOT, Parallel’s native token, can add to the cash. Customers also can commerce it within the AMM market whereas it’s redeemable for DOT after Litenry parachain’s lease ends. If customers contribute DOT to the Parallel mortgage platform, they will earn cDOT with utility.

Customers ought to be aware that cDOT rewards might be accessible after Parallel launches its parachain on Polkadot. The anticipated launch of the parachain is 2-3 weeks after buying a slot. Afterward, customers can instantly switch cDOT and apply it to totally different dApps. 

Equally, customers can earn 4 PARA tokens for each DOT shared by way of Parallel to Litentry. Parallel will conduct a linear distribution course of, beginning after the Litentry parachain operates on Polkadot. It can proceed until the parachain slot expires.

As Parallel Finance’s native token on Polkadot, customers can use PARA for a number of functions. Given Litentry’s place as an esteemed identification aggregator, Parallel’s transfer appears pure. Each ventures can profit from one another’s experience, finally serving to the DeFi sector.