Shiden is participating in Kusama’s latest crowdloan! Shiden became a parachain on Kusama back in June 2021, but this slot lease period is coming to an end on May 16. So now you have the opportunity to be part of our second crowdfunding effort and add your support to our decentralization-focused project.
Amazing to note: at publication, we’re already at 71.19% toward achieving our goal. Click here if you want to keep on eye on how the crowdloan is going so far.
For Shiden to continue as a Kusama parachain, we need to crowdfund 15,000 Kusama tokens (KSM) in order to secure another slot and extend our current lease period. In return for your support, we’re offering a reward in the form of our native Shiden token (SDN) — promising you 23.33 SDN for every 1 KSM you contribute.
Built on Kusama for bold experimentation and early-stage deployment, Shiden is Astar’s wild and fast sister network, dApp staking, and Builders program, EVM and WASM smart contracts for developers.
On the surface, Shiden is identical to Astar. Both Astar and Shiden are multi-chain smart contract platforms with tokenomics designed to give an income to developers from dapp staking rewards. Both are multi-virtual machine blockchains, supporting WASM and EVM smart contracts. However, the networks differ in purpose. Figuratively speaking, Shiden is Astar’s canary network. All of Astar’s technical updates and initiatives first get implemented on Shiden. Then, only once the code is stable and secure does it get shipped to Astar. To be clear, however, Shiden is not a testnet. Though wild and fast, it is very much a real network with value-bearing assets.
Think of it this way: Shiden is to Astar as Kusama is to Polkadot. Whereas Astar is more conservative, putting a premium on security, dependability, and scalability; Shiden is wild and fast — ideal for bold experimentation, innovation, and early-stage deployment.
Shiden is our innovation hub. It’s what allows us to move fast and stay ahead of the competition as we strive to realize the decentralized Web3 vision.
More importantly, Astar needs Shiden. That’s because all the best innovations that arise from Shiden eventually make their way to Astar Network. Cross-chain bridges, dapp staking, and multi-virtual machine (i.e. EVM & WASM) smart contract support all started on Shiden. In turn, these innovations are what enabled Astar, since its launch in 2022, to become the #1 TVL parachain on Polkadot.
Community is vitally important to us — and we’ve met countless supporters who were proud to be part of our initial crowdloan. So if you believe in Shiden and are passionate about our mission, then please show your support by getting involved in this crowdloan campaign and join us for the rest of our journey on our way to DAO.
Kusama Crowdloan Auction Details
The Kusama crowdloan bidding period has already begun and continues until we win the auction! But here are the fine points:
⚡ The bidding period is from April 21st to April 28th
⚡We aim to collect 15,000 Kusama tokens (KSM)
⚡ Our Shiden token reward budget is fixed at 350,000 SDN
⚡ So if we achieve our goal of 15,000 KSM, then for every 1 KSM contributed, you will earn 23.33 SDN
⚡If we collect less than 15,000 KSM the reward will be higher (i.e. if we collect 10,000 KSM then the reward would be 35 SDN per 1 KSM contributed)
⚡ To participate in the auction click here
Anyone is free to participate by sending a special transaction referencing our campaign’s index. Participatory tokens must be transferable — that is, not locked for any reason, including staking, vesting, and governance — because they will be moved into a module-controlled account generated uniquely for this campaign.
Click here for more details about how Kusama parachain auctions and crowdloans work.
So please join us now! Follow the link below and help us keep Shiden a thriving hub of Web3 innovation.
https://polkadot.js.org/apps/#/parachains/crowdloan
Shiden Crowdloan is Happening Now! was originally published in Astar Network on Medium, where people are continuing the conversation by highlighting and responding to this story.
