Crowdloan Overview

In Summary

• Fearless Wallet supports all crowdloans on Kusama and Polkadot

• Participating in crowdloans is easy and intuitive using the Fearless Wallet mobile app

What is a Crowdloan?

Crowdloans are a great way for projects to raise funds to participate in parachain slot auctions, and for passionate users to support the projects they follow in achieving those slots. These projects can participate in one or more auctions for a parachain lease, and users can collaborate throughout the duration of the auctions (you can take a look at the Kusama website for more information on how Crowdloans and Auctions work).

Crowdloans aren't actually loans

First and foremost, all Kusama and Polkadot crowdloans are supported on Fearless Wallet. With that said, since users will be loaning their funds (this is not really a loan, since funds are returned in full after auctions if the slot is not provided, or after the lease is over if it is), projects offer rewards in the form of their token in proportion of the amount provided by the user. This makes crowdloans an attractive (and perhaps lucrative) way to support projects. Each project will have different rewards (Fearless Wallet does not determine the reward payout or amount, this is done by the projects. Fearless Wallet cannot answer inquiries regarding reward payout dates or amounts), this should be taken into consideration when allocating tokens to each project. There are plenty of projects to choose from here is an overview of the current projects.