Crust Network Announced Crust Shadow Will Participate in The Upcoming Batch Of Kusama Parachain Auctions

The second round of 5 auctions will begin in the next few weeks. Auctions will start on September 1st, 8th, 15th, 22nd and 29th, 2021, 12:00 UTC. During the first round crowdloan, Crust raised a total of 7,341 KSM and distributed a total of 2,668 CRU and 533,535 CSM to contributors.

Crust Shadow will participate in the Kusama parachain auctions. Crust Shadow is a “Kusama” version of Crust Network, providing storage functions to other Kusama parachains, and will be upgraded with the development of Kusama.

Crowdloan

Crust will launch the crowdloan on August 30th and end on October 6th, covering all 5 auction periods. Our goal for the upcoming crowdloan is to reach 80,000 KSM in contributions.

Contributor Rewards

1 KSM : 1 CRU + 1,000 CSM
Crust plans to bid for 8 consecutive lease periods. If the bidding is successful, the contributor’s KSM will be locked until the end of the lease period, for a total of 48 weeks. Each KSM contributed to the crowdloan will receive 1 CRU and 1,000 CSM. The total reward pool is 80,000 CRU + 80 million CSM. 30% of the reward will be released immediately, and 10% will be released for each subsequent lease period (each 6 weeks).

About Crust Network

Crust implements the incentive layer protocol for decentralized storage, using storage layer protocols such as IPFS, and provides support for the application layer. Crust’s architecture also has the capability of supporting a decentralized computing layer and building a decentralized cloud ecosystem.

➡️Source:
https://medium.com/crustnetwork/crust-shadow-crowdloan-for-kusama-auctions-6-10-63aea56c1720