Liquid $DOT Staking is available for the Nodle Crowdloan through Parallel Finance
Nodle has joined forces with Parallel Finance to provide Nodle Crowdloan contributors with the ability to tap into liquid $DOT staking for their Polkadot Parachain campaign: https://parachain.nodle.com. Parallel Finance is an institutional-grade lending protocol backed by the likes of Sequoia, Founders Fund, Polychain, Lightspeed Venture Partners, Slow Ventures, Blockchain Capital, and Alameda Research.
Parallel seeks to provide unique lending solutions tailored to Polkadot while assuring user safety and security. Since its inception in April 2021, Parallel Finance seeks to add more pragmatic tools like interest rate swaps for long-term growth to DeFi. Parallel offers leverage staking and auction lending as its primary services, offering higher yield and more opportunities to users to become the go-to lending solution for Polkadot (DOT) and Kusama (KSM) stakers.
Participants will receive an additional bonus from Parallel of 4 $PARA per $DOT contributed to Nodle via Parallel Auction Loan. Participants can also refer a friend and receive a 10% bonus referral from Parallel as well.
Once Nodle’s parachain slot has successfully been secured, contributors will receive cDOT to their accounts which they can use on Parallel for liquidity purposes. Enabling borrowing, staking, or lending cDOT right away instead of waiting 96 weeks for your original $DOT.
To contribute through Parallel:
1. Head to https://crowdloan.parallel.fi/#/auction/polkadot
2. Find Nodle in the list of crowdloan projects
3. Click the contribute or > link on the right-hand side
4. Connect your Polkadot.js wallet in the top right corner of the page
5. Enter the amount of $DOT you would like to contribute
6. Enter a referral code if someone referred you
7. Check the agreement box and click “Contribute to Nodle”
Nodle is a decentralized IoT (Internet of Things) network on Polkadot providing secure, low-cost connectivity, and data liquidity to connect billions of IoT devices worldwide. The Nodle network is powered by millions of Bluetooth-enabled smartphones that earn Nodle Cash (NODL). Nodle’s powerful IoT stack allows multiple uses including connecting and securing physical assets, tracking lost or valuable items, capturing sensor data, and authenticating security certificates. Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and more. Since its creation in 2017, Nodle has become one of the world’s largest wireless networks by number of base stations. Join #TheCitizenNetwork by downloading the Nodle Cash app for iOS or Android.