The ongoing crypto airdrop season continues to thrive, with numerous investors receiving valuable cryptocurrencies worth millions, even billions of Rupiah, for free.
The majority of these investors acquire airdrops effortlessly by diligently completing various tasks or locking up a portion of their tokens to receive free token allocations that can be utilised according to individual strategies.
Presently, there’s fresh information from Mandala Chain regarding a potential new airdrop involving their token $KPG, slated to launch on Polkadot.
Mandala Chain Crowd Loan
Mandala Chain is a new layer one blockchain currently in development but striving to launch on the Polkadot Parachain. This blockchain will serve various purposes in both the financial and real sectors, potentially collaborating with governments.
One of its primary focuses currently is integrating into the largest blockchain network hub in Indonesia. The goal is to provide financial inclusivity to the entire population through blockchain technology and serve as a platform for decentralised or semi-decentralized application innovations to streamline activities in the real sector.
Mandala Chain plans to launch on the Polkadot Parachain, but to do so, a project must undergo a process called Parachain Auction.
In essence, Parachain Auction is a bidding process to secure a lease for building projects on a Parachain, where the auction process can involve the project’s own funds or community participation to increase the likelihood of winning the auction with a mechanism called Crowd Loan.
Presently, Mandala Chain is participating in a Crowd Loan, where the project is collecting 300,000 DOT from community members or interested investors, with attractive rewards, of course.
$KPG Airdrop
The reward offered is Mandala Chain’s official token, $KPG, which stands for Kepeng.
Investors who lock up 1 $DOT in the ongoing Crowd Loan will receive a reward of 400 $KPG. As the locked $DOT reaches 75,000, the reward decreases to 320 $KPG per locked $DOT until it reaches 300,000 $DOT.
It’s important to note that after locking $DOT, it will be returned, ensuring that investors’ $DOT won’t be retained by the Mandala Chain.
Reportedly, Mandala Chain will distribute 100 million $KPG, or 10% of its total token supply, to investors participating in this Crowd Loan.
Overall, through participation, investors will receive $KPG from locking $DOT and get their locked $DOT returned, almost at no cost except for blockchain transaction fees and applicable application fees.
There are three ways to participate in this Crowd Loan, with the easiest and recommended method being using Nova Wallet. Guidelines for using Nova Wallet and participating in the Crowd Loan can be found here.
In summary, the airdrop or Crowd Loan information can be outlined as follows:
The vesting period is approximately 96 weeks after the launch of the $KPG token or TGE (Token Generation Event).
The Parachain Auction will run until April 4, 2024. Hence, investors seeking larger rewards should consider locking $DOT for Mandala Chain after reading this article.
$KPG boasts a favourable token economics, as the team and early supporters will only receive 30% of the total allocation, minimising the market manipulation narrative from “insiders”.
Considering the favourable condition and fundamentals of Mandala Chain, investors are advised to participate in the Crowd Loan to acquire $KPG without needing to purchase directly later on.
For those interested in learning more about Mandala Chain and delving into its project fundamentals, they can directly visit its official website here.
