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At the event, Cassidy Daly, who is in charge of token design and research at Centrifuge, shared with us some details of Altair's participation in the Kusama network parachain slot auction. Cassidy said that Altair (Centrifuge Pioneering Network) has reserved 18% of AIR tokens for parachain auctions, and users can get at least 400 AIR tokens as rewards for each KSM pledged. Of the AIR incentives obtained by users through crowd lending, 25% will be unlocked immediately, but the remaining 75% will need to be released gradually during the 48-week slot lease period.

The following is the full text of Cassidy Daly's speech, edited by Odaily, enjoy~

Hello everyone, today I will share with you about Altair. I will introduce what Altair is and explain why it is so important to the Kusama ecosystem.

Altair is a pioneering network built by Centrifuge. Centrifuge is a financial services platform that aims to bridge real-world assets to the DeFi world.

In a sense, the Altair is like the Centrifuge's little brother. All the latest and most experimental features require a test run on Altair before being deployed to the Centrifuge network. So, Altair will run with Centrifuge.

In fact, Altair's application scenarios will revolve around the field of asset financialization. From art NFTs to other assets that have not been noticed, Altair can help them with tokenization and introduce them into the financial world.

I'm going to give a specific use case, what would happen if you could get instant liquidity for your Cryptopunks? I think Altair really has the ability to drive a revolution in art asset management. Altair's flexible asset financing structure can help issuers finance CryptoPunks and other NFTs projects. On the one hand, CryptoPunks owners can put their NFTs into a pool on Altair, and on the other hand, investors can also inject funds into this pool , from helping the holders of the pool shares to liberate the liquidity of their assets.

To me, this is probably the most exciting feature of Altair right now, a use case that will help the Kusama ecosystem move towards the future of DeFi.

Currently, the Centrifuge network is live. We have a compatible application Tinlake on Ethereum. As shown in the figure below, the amount of locked funds once exceeded 30 million US dollars. When you provide liquidity rewards for the application, you can get our CFG tokens.

All of these things you see will be launched on Altair, and when Altair goes live, Tinlake will expand from Ethereum to Altair, and eventually to Centrifuge.

I think the most important thing about extending Tinlake is that we will be able to achieve interoperability between different projects in different ecosystems. This may be the killer feature of Polkadot and Kusama parachains, you will be able to more easily integrate with different projects in different ecosystems, such as integrating tokens on Altair or Centrifuge with applications on Moonbeam. This is how we drive innovation across the blockchain ecosystem.

Altair has announced its crowdlending proposal for the Kusama Network Parachain Slot Auction. You can participate in crowdlending in several different ways, such as participating directly through the Kusama or Altair official websites, or participating through exchanges such as Kraken, Kucoin, and wallets such as Fearless. Once Altair is officially launched, users who directly participate through the official website can receive AIR tokens on the Altair chain. If you participate in crowdlending through an exchange, you need to receive rewards in the exchange.

Every 1 KSM that supports the Altair auction can get a reward of 400 AIR. However, we also have some bonus incentives, so you can actually get incentives greater than 400 AIR. For example, users who participate in the first 72 hours can get an additional 10% incentive through the early bird agreement; users who successfully invite others to participate can also enjoy an additional 5% referral reward with the invitee; in addition, for contributions exceeding 10 KSM Participants, we will also provide some additional special rewards, details about this reward will be announced soon, so please continue to pay attention to us.

By the way, if you are one of the first 250 participants, or can keep supporting us in Altair's Kusama auction and Centrifuge's mainnet auction, we will give you some extra rewards when Centrifuge goes live.

Of all AIR incentives earned by crowdlending, 25% will be unlocked immediately, but the remaining 75% will need to be released gradually over the 48-week slot lease period.

The picture above shows the distribution of AIR. You can see that we have reserved 18% of AIR tokens for auction crowd lending, which is quite high among all the project parties participating in the auction. Our main purpose of doing this is to deliver AIR to users who really support the Kusama ecological construction.