Here are some answers to the most common questions about Altair’s Kusama parachain bid and crowdloan
Why should I support Altair?
Altair is the experimental version of Centrifuge on Kusama and therefore an important requirement to prepare Centrifuge’s upcoming parachain auction on Polkadot. A parachain on the Polkadot Network will expand Centrifuge’s already huge potential.
What are the rewards or bonuses that I can receive for supporting Altair?
- You earn 400 AIR for every 1 KSM you contribute to the Altair crowdloan.
- You will earn an extra 10% bonus if you contribute KSM in the first 48 hours ‘the early bird’ bonus. Check the countdown on the website.
- If you refer a friend, you can earn an extra 5% bonus for yourself and the person who uses your referral bonus.
- If you contribute 10 KSM or more (the heavyweight bonus, limited to the first 1500), we have a special surprise bonus for you (details TBA!)
What is the ‘Final Orbit Bonus’?
Once Altair hits certain KSM milestones, AIR rewards will increase for all contributors.
Here are the milestones:
150k KSM: +5% AIR
175k KSM: +7.5% AIR
200k KSM: +10% AIR
These new bonuses will apply retroactively to all 17k+ community contributions so far.
Every time I share the referral bonus, and someone uses it, do I (and they) get more AIR?
Yes, both the referrer and the referred get a 5% bonus each on what the referred contributes.
For example: You refer someone who contributes 1 KSM — you both each get a 20 AIR bonus. (400 AIR reward for 1KSM * 5% bonus = 20 AIR). This applies to every person who uses your referral code.
I participated in the first Altair crowdloan, do I still get my bonus if I participate now?
Yes, if you were eligible for the bonus in the first crowdloan — you will still get your bonus if you participate in this next round!
How much KSM do I need to contribute to receive the special reward bonus?
You should contribute 10 or more KSM to receive the special bonus (details on what the bonus TBA!).
If I use an exchange or fearless wallet to contribute, do I still qualify for the early bird bonus?
Where can I use the referral bonus?
You can only qualify for the referral bonus if you contribute through the Altair website directly.
I added 1 KSM to the crowdloan. Can I add more now?
Yes, you can add as much as you like while the auction runs (unless the cap of 200,000 KSM for the Altair auction bid has been reached)
Do several contributions added up to more than 10 KSM count for the heavyweight bonus?
Yes, as long as the total amount you have contributed from the same account is 10KSM or greater.
Is there a minimum amount of KSM for participating in the crowdloan?
Yes, the minimum is 0.1 KSM for each contribution.
What wallets can I use to participate in the crowdloan?
To contribute to Altair’s crowdloan, KSM holders can stake their KSM via the Altair website, our partner exchanges Kraken and Kucoin, directly on the Kusama portal using Polkadot.js or by using the Fearless wallet.
I have installed the extension but it is not showing on the Altair-staking website?
Make sure the Altair-staking website is authorized for use with the extension. After authorizing access, refresh the page to get started.
I have several Kusama-accounts within polkadot.js and only one of them appears, which is not the one I want to stake with in the crowdloan. What can I do?
Make sure the account you want to use for the crowdloan is connected to your Polkadot extension, is set to visible, and set to allow use on any chain or Kusama Relay chain. Please refresh the page after you have made any changes. If the account is still not connected try another browser (Mozilla Firefox, Brave Browser).
Can I stake or vote with my KSM after I bid in Altair’s auction?
No, once you commit your KSM to the crowdloan you cannot use it for voting, staking or any other activities until it is released at the end of the lease period (see below).
Where are the KSM held during a crowdloan?
All KSM contributed to a crowdloan are held on-chain in the relevant crowdloan module on the Kusama network.
How long will my KSM be held for the parachain?
At the time that your KSM is added it will remain in the crowdloan module until it is released at the end of the 48-week lease period (if the auction is successful).
If I change my mind, can I withdraw my KSM from the crowdloan before Altair wins a slot?
No. Once KSM has been contributed it automatically remains in the module until it is “retired”. If successful, that will be at the end of the 48-week lease period; if unsuccessful, it will roll into the next auction in the series (there will be 5 auctions in this round) until successful or until the series ends, latest on October 16.
What happens at the end of the parachain slot lease?
At the end of the parachain slot lease your KSM will be returned via the crowdloan module.
Will I get my KSM back at the end of the parachain slot?
Yes, at the end of the 48-week lease period your KSM will be returned via the crowdloan module.
What happens to the KSM that has been contributed if Altair doesn’t get a slot in this round of auctions?
The KSM contributed remains in the crowdloan module to support this round of auctions (6–10) until the series ends.
After the parachain auction
What happens to the KSM I bid when Altair wins a parachain slot?
At the end of the auctions, when Altair wins its parachain slot the Altair chain will be on-boarded as a Kusama parachain. The collected KSM tokens will be locked in the crowdloan module on-chain on Kusama for the entire duration of the parachain slot (48 weeks).
Once the parachain starts running can I withdraw my KSM?
Once KSM has been contributed to a crowdloan it automatically remains in the module until it is “retired”. If successful, that will be at the end of the 48-week lease period.
When are the Altair crowdloan rewards available? How will I get my AIR?
AIR can either be claimed through the chosen exchange (if you participate through our partners Kraken or Kucoin) or directly on-chain to your address on Altair once the chain has been fully upgraded (read more about the launch process here). This address is automatically derived from the KSM address that you used for your crowdloan vote.
Will the AIR be unlocked?
25% of rewards to crowdloan participants will be liquid and the remaining will vest over the length of the parachain slot (48 weeks).
How much is AIR worth?
AIR is not yet live, is not yet tradeable and is not yet on exchanges, therefore it hasn’t got a market value yet.
Will there be another AIR crowdloan when this slot expires?
Altair plans to be a parachain on Kusama long term but ultimately this will be decided via decentralized governance.