Place/Date: – June 30th, 2021 at 6:09 pm UTC · 3 min read
What Is Altair?
Altair is one of the fastest spinning stars in the galaxy, and is also the bridge from Centrifuge to Kusama. You will now be able to tokenize real-world assets and finance them on the Kusama network.
Altair combines the industry-leading infrastructure built by Centrifuge to finance real-world assets (RWA) on Centrifuge Chain, with the newest experimental features – before they go live on Centrifuge Chain. It is the network for users who want to test the bounds of asset financing. From art NFTs to undiscovered assets – Altair enables users to tokenize their most experimental assets and finance them. It is the next step for anyone looking to unlock financing for their assets.
Altair is built for risk-takers and innovators who dare to push the limits of DeFi: powered by the AIR token.
- Each participant that locks KSM in the Altair crowdloan will earn AIR at a rate of 400 AIR : 1 KSM locked for the full parachain slot duration of 48 weeks.
- The first 250 participants will earn a 10% bonus on top of this reward.
- Rewards can be claimed on Altair beginning once the launch process is completed (read more here).
- 25% of the reward will be unlocked, while the remaining amount will be distributed to crowdloan participants over the length of the parachain slot.
How to Contribute KSM to the Altair Crowdloan
There are several different ways to contribute to the Altair Crowdloan, and KSM holders can choose their preferred option!
Option 1: Contribute directly on the Altair website!
Option 2: Contribute directly on Kusama
KSM holders can contribute directly to the Altair crowdloan through the Kusama portal.
Option 3: Contribute through an exchange
Altair has partnered with two leading exchanges: OKex and Kraken to allow their users to contribute directly to our crowdloan. If you have an account on one of these exchanges, then you can securely participate in the crowdloan once it’s launched.
For every KSM that is contributed to the Altair crowdloan and locked for 48 weeks to secure the Altair parachain slot, 400 AIR will be rewarded. AIR can either be claimed through the chosen exchange (if you participate through Option 3) or directly on-chain on Altair (Option 1 + 2).
AIR Token Distribution
To distribute the AIR token, the Altair network will take a snapshot of the balances on Centrifuge chain to distribute AIR tokens to CFG token holders, 1 AIR : 1 CFG. In addition, AIR will be distributed to crowdloan participants up to a maximum of 80 Million AIR.
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The untapped multi-trillion dollar market of real-world assets (RWA) is now entering Decentralized Finance (DeFi) through Centrifuge: the first protocol to connect DeFi to the real-world. Businesses are using Centrifuge today to access the liquidity that DeFi offers, while investors finance assets for an attractive, stable yield.
Centrifuge has the highest TVL in the Polkadot ecosystem – and will be among the first to launch a Parachain on Polkadot. Centrifuge chain is built on Polkadot for speed and low fees, while its financing Dapp, Tinlake, is built to access the massive liquidity on Ethereum. The native token CFG has its own bridge to Ethereum.
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