SubSocial Announces Its Bid For Parachain Slot On Kusama

SubSocial announces that it will be bidding for one of Kusama’s coveted parachain spaces. As a result, SubSocial also invites Kusama (KSM) holders to join in its crowdloan campaign in return for significant rewards in native SUB tokens. The project’s native token is SUB, which has a wide range of uses on the SubSocial platform.

SubSocial, an open platform for decentralized social networks and marketplaces of the Polkadot ecosystem. Moreover, its web user interface allows users to create their own decentralized censorship-resistant community along with in-built monetization methods.

SubSocial Launches Crowdloan Campaign

Subsocial is initiating a crowdloan campaign as part of their proposal for a parachain slot. The structure of the campaign is designed to achieve a simple and transparent way. The crowdloan will receive 16.5 million SUB tokens or 16.5% of the total quantity of SUB tokens. 15 million of these will be allocated as guaranteed prizes. The remaining 1.5 million will go toward referral bonuses, which will be disbursed according to the referral program’s conditions.

About Kusama

Kusama is a scalable network of specialized blockchains built using Substrate and nearly the same codebase as Polkadot.

About SubSocial

Subsocial is a set of Substrate pallets with web UI that allows anyone to launch their own decentralized censorship-resistant social network aka community. You can think of it as a decentralized version of Reddit or Medium, where a set of subreddits or blogs on Medium run on their own chain.

➡️Source:
https://thenewscrypto.com/subsocial-announces-its-bid-for-parachain-slot-on-kusama/