Is it beneficial for KILT to have their own parachain?

Having a Parachain means we benefit from shared security, can iterate with other fast-moving Polkadot projects provide DIDs and credentials through Relay Chain to other project, leverage other Parachain functionality like smart contract and oracles. TLDR; yes.

Polkadot.js shows 7,997 crowdloan contributions but shows 12,211. Which is correct?

The number on Subvisio tracks individual contributing wallets whereas the Polkadot.js "count" number includes individual wallets addresses, but also includes other platforms where people may have KSM addresses. As a result the "count" may aggregate multiple contributions into one wallet that is reported! We feel that the un-aggregated count of 12,211 best represents individual contributions from our community.

I tried contributing my full KSM balance in Fearless to the crowdloan but it gives me a account removal warning. Why?

You should leave a balance of at least 0.0000333333 KSM (the “existential deposit”) so that your account doesn’t get “reaped”. This is designed to avoid the network becoming overloaded with accounts with very little funds (generally less than the cost of a transaction). Read more about the existential deposit at Polkadot support.

I've contributed to the crowdloan in support of KILT, how can I see my vote history?

Go to Kusama subscan explorer in the link below. Enter you KSM wallet address into the search field, then when the page loads look under the "Extrinsics field" by clicking on it if not already highlighted and showing info, you then click on the Extrinsic ID etc.

It will be possible to stake locked Kilt token through Fearless Wallet?

Yes. In the coming weeks there will be an update in Fearless Wallet to add support of KILT Coin, including staking.

Can I contribute to KILT crowdloan using my Ledger?

"Unfortunately, not. The extrinsic to contribute to a crowdloan is not supported currently by neither the Kusama, nor the Polkadot Ledger apps. "

How long is the parachain slot lease?

Leases on parachain slots on Kusma can range from 6 weeks to 48 weeks (8 lease periods). KILT is bidding for a 48 week slot.

What’s the cap of the KILT crowdloan?

The cap f the KILT crowdloan is 220,000 KSM. This means that no more than 220,000 KSM in total can be contributed to the crowdloan.

Are there any restrictions for residents or citizens of some countries to participate in the crowdloan?

From a technical perspective you can participate in crowdloans without any restrictions. However, your participation may be restricted by the regulations in your own jurisdiction; please review these before participating.

Is there a maximum amount of KSM for participating in the crowdloan?

No, unless the maximum cap of 220,000 KSM has been reached for the auction.

What wallets can I use to participate in the crowdloan?

To vote for KILT’s auction bid, KSM holders can lock their KSM for KILT via Polkadot.js or the Fearless wallet. Please do your own research before participating, especially if you are using any other platform that offers crowdloans.

How will I get my KILT Coins from the crowdloan reserve?

It is planned that the KILT Coins from the crowdloan reserve would be distributed to your KILT Coin address following a governance vote after KILT is decentralised. This KILT Coin address is automatically derived from the KSM address that you used for your crowdloan vote. This process is the same for Fearless: KILT Coins will be delivered to same wallet account from which the user made their KSM contribution.

What happens to the KSM I bid when KILT wins a parachain slot?

When KILT wins its parachain slot the KILT blockchain will be on-boarded as a Kusama parachain. The collected KSM tokens will be locked in the KILT crowdloan module on-chain on Kusama for the entire duration of the parachain slot (48 weeks).

Will there be another KILT crowdloan when this slot expires?

By the time the first KILT parachain slot expires KILT will be a decentralised network run by the token holders (via a system of governance). Any decisions will be made by governance.

Once the KILT 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.

Will there be another crowdloan and KILT coin for a possible polkadot parachain lease?

By the time the first KILT Parachain slot expires KILT will be a decentralised network run by the token holders (via a system of governance). There will only be one KILT network. Any decision to participate in auctions for a Kusama or DOT Parachain will be made by governance in the future. In the future there is also the possibility of a self-sustainable Parachain by accumulating KILT Coins in the Treasury and using them for a Parachain slot.

Will I get my KSM back at the end of the KILT parachain slot?

Yes, at the end of the 48-week lease period your KSM will be returned via the crowdloan module.

What happens at the end of the KILT parachain slot lease?

At the end of the parachain slot lease your KSM will be returned via the crowdloan module.

How much is a KILT Coin worth?

The KILT Coin is not yet live, is not yet tradeable and is not yet on exchanges, therefore it currently has no developed market value.

Will the KILT Coins I get be unlocked?

It is expected that half the KILT Coins you received will be unlocked coins; the other half will be vested over a period of 6 months. Vested coins can be used for staking and voting. When this occurs will be decided by governance after the KILT network goes live and is decentralised.

How long will my KSM be held for the KILT Parachain?

Your KSM will remain in the crowdloan module from the time it is added until it is released at the end of the 48-week lease period, if the auction is successful.

What happens if KILT doesn’t get a slot in auction six?

If an auction is unsuccessful, the KSM contributed remains in the crowdloan module to support the next auctions (7-10) until successful or until the series ends.

If I contribute my KSM after the candle has gone out, does my KSM stay locked up until the end of the slot?

Yes, all KSM in the crowdloan module will remain there until it is released either after the lease period ends (if the auction is successful) or after the end of auction 10 (if unsuccessful).

Can I contribute to the KILT crowdloan before the auction starts?

Yes, you can contribute to the crowdloan before September 1st, when the auction officially starts as long as the cap of 220,000 KSM for the KILT auction bid is not yet reached.

I added 1 KSM to the crowdloan. Can I add more now?

Yes, as long as the auction period is open you can add more, unless the cap of 220,000 KSM for the KILT auction bid has been reached.

How long before KILT becomes decentralised and the crowdloan is paid out?

There are a few technical steps here, so we cannot provide a firm date when the crowdloan reserve payout may occur. Key milestones are: - Secure KILT parachain slot via crowdloan - Launch KILT mainnet - Test and launch KILT governance - Decentralisation of the network and activation of governance - Governance votes on distribution of the crowdloan reserve

When will I get my KILT Coins from the crowdloan reserve “thank you”?

This will be decided by governance after the KILT network goes live and is decentralised. Decentralisation is expected to occur around 2-3 months after the network goes live and we assume that the vote on the “thank you” will take place soon after that.

Can I stake or vote with my KSM while it's in the crowdloan module?

No, once you commit your KSM to the crowdloan module you cannot use it for voting, staking or any other activities until it is released at the end of the lease period.

Where are the KSM held during a crowdloan?

All KSM contributed to a crowdloan are held on-chain in the respective crowdloan module on the Kusama network.

If I change my mind, can I withdraw my KSM from the crowdloan before KILT wins a slot?

No. 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; 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.

Is there a minimum amount of KSM for participating in the crowdloan?

Yes, the minimum to participate in KILT Crowdloan is 0.1 KSM.

If I support the KILT crowdloan with 1 KSM, how many KILT Coins will I receive?

Governance can allocate the “thank you” after KILT is decentralised. The reserve has been set up so that 4.5 million coins could be shared among all crowdloan supporters (with the exception of BOTLabs GmbH, the legal entity behind KILT). The crowdloan is capped at 220,000 KSM, ensuring a minimum ratio of 25 KILT Coins per KSM.

How can I become an Attester?

You have to gain trust in the real world, figure out what your cType (Credential Type) is and then build an Attester business. Basically anyone can become an Attester by integrating the KILT SDK into their business processes. Check for some concepts!

What inspired the Scottish theme for KILT Protocol, Sporran wallet etc?

You can tell a lot about a person in Scotland by looking at their kilt! But while the individual pattern can represent the “clan” or affiliations of the wearer, it doesn’t reveal private details, like their name or address. Similarly, KILT Protocol provides a way to represent your identity without revealing things you prefer to keep private.

Will KILT be cross-chain in the future?

When cross chain messaging is set live by Web3, other parachains will be able to communicate with KILT Blockchain through the relay chain. In the future bridges to other chains; for example Ethereum will mean others outside the Polkadot ecosystem will also be able to leverage KILT.

Can we integrate KILT credentials and Social KYC into mobile apps?

Absolutely, this is exactly what the KILT Javascript SDK is for! With social KYC users will be able to easily get their various social credentials and present them using Sporran wallet. The SDK can be used by developers to leverage this for authentication or other interesting use-cases.

Will there be a KILT Parachain crowdloan?

KILT will either crowdfund or self-fund our Kusama parachain slot. This decision depends on what makes the most sense to ensure KILT’s long-term stability and growth. If we crowdfund, we will announce this on our social channels well in advance, to provide the community enough time to participate.

How and by whom will an Attester garner trust?

Attesters have an economic incentive to provide a reliable services. Thus Attesters that provide accurate credentials will garner trust from Verifiers. Credentials that are trusted by Verifiers will in turn become attractive to users (Claimers) that want to access the Verifier's services.

sort by