News

New Guaranteed Rewards for Integritee Slot Auction Backers!

Tuesday, June 2, 2020

Up to 20,000 more TEER will be distributed to contributors, regardless of the auction results.

We created Integritee to enable developers and firms to build data-driven dApps and services that respect the privacy of users. But to make Integritee a success, first we need to secure a slot in the Kusama auctions. We recently announced that we will be rewarding KSM holders who back Integritee with 1,000,000 TEER – that’s 10% of our total allocation.

In addition, we are now offering further guaranteed bonus rewards for Integritee contributors, regardless of the outcome of the slot auctions. Here’s how it works:

  • Scenario 1: if the Integritee crowdloan ends with less than 10,000 KSM bonded, 10,000 TEER will be distributed to all contributors, proportional to their contribution.
  • Scenario 2: if the Integritee crowdloan reaches or exceeds 10,000 KSM bonded, 20,000 TEER will be distributed to contributors, proportional to their contribution.


Remember that these rewards are guaranteed — meaning that they will be distributed regardless of the outcome of the auctions. They will be distributed to crowdloan contributors relative to their opportunity cost — in terms of the amount of KSM they contribute, and the length of time this KSM is locked in. The locked-in time starts to be measured from the block that includes the contribution and finishes either when Integritee wins an auction, or Integritee’s crowdloan campaign ends, whichever happens first.

TEER is the native token that will power our privacy preserving services. The value of the token will be driven by demand for Integritee’s services, as well as specific tokenomic features such as a lockdrop and burn mechanism. Please note that these guaranteed rewards are subject to a 12-month vesting period. (10% of the tokens will be liquid as of block 1, while the remaining 90% will be vested linearly during month 12.)

To find out more about how to back Integritee and profit from our incentives and guaranteed rewards, check out our crowdloan campaign website.



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