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Kusama Parachain Bid – And the Slot Goes to   Integritee!

Project UpdateJanuary 18, 2022
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Integritee’s year is off with a bang, thanks to our successful bid for a Kusama parachain — which is to say, thanks to our committed supporters, who made it happen. Securing this parachain is the fruit of months of passion and commitment from the Integritee team and our wider, global community. We would like to take this opportunity to thank all 3,000 contributors who enabled us to reach our campaign cap of 20,000 KSM bonded. We would also like to express our gratitude to our partners for placing their trust in Integritee and helping us to expand the functionality and utility of the network.

Over the last quarter, we have made major strides in bringing our vision of decentralized, privacy-first data services to the world. We launched our mainnet and listed the TEER token on Gate.io, as well as formed partnerships with a number of Web3 champions who will help us drive the next wave of transformation. In December, the first practical use case was deployed: the USD-TEER exchange rate oracle. This not only demonstrates Integritee’s ability to query third-party sources and store a verified, immutable record of that information; it will also serve as the basis of our future fee structure, providing stability in dollar-denominated costs.

Now, with the pooled strength of the Kusama network behind us, we are pushing ahead, pursuing our goal of becoming the leading Polkadot privacy solution by year-end.

Our Kusama supporters can of course look forward to a more immediate reward — their TEER payback! Besides the generous base rewards of 40 TEER for each KSM contributed, we provided referral, loyalty and early supporter bonuses totaling up to around 10% of the total supply. Backers will receive their tokens at the beginning of the lease period on the 20th Febr. with a vesting of 48 weeks. The tokens will be fully transferred to the backer’s wallets but will be unlocked linearly over the course of the lease period.

If you have trouble finding the tokens after distribution, please visit our Help Center for further support. Happy new parachain, everyone; it’s going to be a very exciting year!

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